Purchasing Shares

Additional Membership Shares

Members of Oshawa Community Credit Union can purchase up to $900 in additional uninsured membership shares. Since 2002, OCCU's Board of Directors has approved dividend payments on membership shares ranging from 2.5% to 7.5%.

Please complete the form below and submit to our office. If you have additional questions, please call the office and speak with one of our Member Service Representatives.

Frequently Asked Questions Expand/Collapse

What is the minimum Membership Share requirement?

Members are required to hold twenty $5-dollar Membership Shares ($100).

What are Patronage Shares?

Dividends paid on the Membership Shares is known as Patronage Shares.


What is the maximum amount of Additional Membership Shares a member may purchase?

Members may purchase up to two hundred $5-dollar Additional Membership Shares ($1,000).


Why you would consider this investment option?

For the 13th consecutive year, OCCU’s Board of Directors has approved profit sharing with members totalling $4.1M, specifically, $361K paid on the Membership and Patronage Shares.   OCCU’s history of strong capital and financial results supports our commitment to the membership and vision of providing a safe, trusted and innovative environment offering financial security to current and future generations.


Why OCCU is informing you of this opportunity at this time?

Your Additional Membership Shares investment will provide us with additional capital in the event a business expansion opportunity arises in the future.   Furthermore, with more members doing business with us, we can continue to provide you with innovative products, services and added convenience.  Under provisions of the Credit Union and Caisses Populaires Act, proclaimed on October 1st, 2009, and amendments to OCCU’s Bylaws approved by the membership on April 6, 2010, we are able to provide you with the option to purchase Additional Membership Shares.


What are the limitations?

  • Like your existing Membership Shares, the Additional Membership Shares are not covered by our deposit insurer (The Deposit Insurance Corporation of Ontario (DICO)).
  • In the unlikely event the Credit Union fails to maintain adequate regulatory capital, we will be unable to release the Membership Shares, Patronage Shares or Additional Membership Shares until adequate capital is restored.
  • The Additional Membership Shares do not entitle the holder to additional voting privileges.
  • Membership Shares, Patronage Shares and Additional Membership Shares are not RRSP eligible.
  • Withdrawals from your Membership Shares and Additional Membership Shares are restricted and only redeemed upon death, expulsion or closing of the membership.

Class B Special Shares

Class B Special Shares are uninsured shares in the Credit Union that periodically, subject to board approval and to the terms and conditions of the initial offering, become available for transfer to members of Oshawa Community Credit Union. The target but unguaranteed return is "A rate which exceeds by 1.50% the Government of Canada 5-year benchmark bond yield, ... for the Wednesday immedately preceeding, or being, December 31 in the fiscal year regarding which the dividend is to be paid (Ref. B113893)." This target has been met since the inception of the class B special shares.

For more information, please call or visit our branch to speak to a Member Service Representative.

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