Member Ownership Program

Credit Union Member Ownership Program (CUMOP)

The Credit Union Member Ownership Program is designed to provide our Members the opportunity to share in the surplus earnings of Unity Credit Union.  A portion of the surplus earnings are allocated to retained earnings and another portion is set-aside for our Members.  So Members not only receive competitive rates, they also receive equity based on business they have done with us throughout the year.

So when Unity Credit Union makes a profit…our Members get to share in that profit!

How Is Equity Earned?

• Each Member’s share is based on interest paid on most loans and interest earned on non-registered investments and paid into an Equity Account (not intended to be an account for members to withdraw funds from).

How Is Equity Paid?

• Once a Member has earned $1000 in equity, 50% of any additional allocations will be paid directly to the Member and the other 50% will be credited to the Member’s Equity Account.
• Upon reaching the age of 65, the balance of a Member’s equity account is paid to them in full and any future allocations will be paid directly to the Member.

Unity Credit Union has been paying equity to Members since 1983.

Back

© Copyright Unity Credit Union - Saskatchewan, Canada.