Class A Equity Shares (1.00 Par Value)

• Membership Voting Shares required by all members
• minimum / maximum holdings required - $25.00 for adults & businesses, 5.00 for junior/trust account
• not guaranteed by the Credit Union Deposit Insurance Corporation

Class D Non-Equity Shares

• non-voting shares that act as a savings account
• minimum holdings - NIL
• maximum holdings - 145,000 per family
• interest/dividends is paid annually on January 1^st of the following year
• dividends are calculated on the minimum quarterly balance (ie: Jan. 1^st - Mar. 31^st / Apr. 1^st - Jun. 30^th / Jul. 1^st - Sept 30^th / Oct. 1^st - Dec. 31^st)
• no guaranteed rate of return
• Deposits in your shares account are covered by the Credit Union Deposit Insurance Corporation only if made before January 1, 2020. Deposits made after this date are not insured. Contact us for specific coverage details.
• deposits and withdrawals are allowed at any time
• no passbook provided
• all inclusive statement provided on Dec 31^st of each year

How will the CRA treat my dividend income?

According to the CRA, the dividends from Investments Shares will be treated as interest income from a Canadian source. This income must be reported on your income tax return. Columbia Valley Credit Union will issue and mail you the appropriate T-5 form for this purpose.