Insurance
Equity Shares
Equity shares represent our members’ investment in the credit union. A member may subscribe for up to 1,000 equity shares under a single membership. These funds must stay on deposit as long as you have an account with the credit union. The dividend rate is based on the previous year’s net income and is set by the Board of Directors after the minimum capital requirements of the credit union are met. The Credit Union Deposit Insurance Corporation does not cover equity shares.
Deposit Insurance
Osoyoos Credit Union is run in a conscientious and professional manner and is well capitalized. The safety of your deposits is backed by the Credit Union Deposit Insurance Corporation (CUDIC) which is a government corporation that administers and operates the Deposit Insurance Fund. This fund protects the deposits of all British Columbia credit union members with no limit to the amount of money being insured. The CUDIC brochure “Your Guide to BC Credit Union Deposit Insurance” further explains deposit insurance coverage and is available at our office. Peace of mind through security......
