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
• not guaranteed by the Credit Union Deposit Insurance Corporation
• 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.