What is the minimum Capital Share requirement?

Members are required to each hold a $100 Capital Share.

What are Patronage Shares?

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

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

Members may purchase up to $900 each of Additional Capital Shares to a total of $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 Capital 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 Capital 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 Capital Shares.

What are the limitations?

• Like your existing Capital Shares, the Additional Capital Shares are not covered by our deposit insurer (Financial Services Regulatory Authority of Ontario (FSRA)).

• In the unlikely event the Credit Union fails to maintain adequate regulatory capital, we will be unable to release the Capital Shares, Patronage Shares or Additional Capital Shares until adequate capital is restored.

• The Additional Capital Shares do not entitle the holder to additional voting privileges.

• Capital Shares, Patronage Shares and Additional Capital Shares are not RRSP eligible.

• Withdrawals from your Capital Shares and Additional Capital Shares are restricted and only redeemed upon death, expulsion or closing of the membership.