connectFirst
Investment Shares

3.5% rate of return.
Nope, we're not kidding. Get in on it now.

We're once again offering our members the option to purchase Investment Shares which pay a dividend as high as 3.5% for 2021, much higher than the current rate for term deposits.

Investment Shares represent equity or capital in connectFirst. The more capital connectFirst has, the more secure it is. Unlike term deposits which are 100% guaranteed by the Credit Union Deposit Guarantee Corporation*, Investment Shares are not guaranteed. The Investment Share risk, however, is balanced by the strong performance of connectFirst Credit Union.
connectFirst Credit Union Investment Shares are being sold at a price of $1.00 per share.
connectFirst Credit Union’s dividend policy on Investment Shares is to pay a dividend of 3.5% in 2021. Each year thereafter, Investment Shares will pay a minimum dividend equal to connectFirst Credit Union’s average one year term plus 2%. Dividends will be paid as additional Investment Shares, not as cash, and are non-cumulative (if a dividend payment is not declared it will not be made up at a later date).
Dividends are declared annually on October 31 and compounded and paid annually on or before December 15 into members’ Series H Investment Share Accounts.

Dividends are only earned from the date the shares are issued. This means if you own the Investment Shares for less than a year when the dividend is declared, you will receive less than a full year’s dividend.
Investment Shares provide longer-term stable capital for the credit union. connectFirst Credit Union’s redemption policy for Investment Shares allows members to redeem their shares once per year (November 15), up to a maximum of 10% of the total number of Investment Shares outstanding for the whole credit union. This means that you will be able to redeem at least 10% of your holdings of Investment Shares each year and may be able to redeem up to 100% of your holdings, depending on whether other members decide to redeem their shares.

Investment Shares held in a RIF may be redeemed at the minimum rate set out under the Tax Act, and they may be redeemed 100% in the event of the death of the holder.

Investment Shares will be redeemed by connectFirst Credit Union at a price of $1.00 per share, therefore, no capital gain or loss will result from the redemption of Investment Shares. If the Investment Shares are redeemed prior to a dividend declaration date, the shares redeemed will not be eligible for any dividend paid later that year. If the shares are redeemed after a dividend declaration date, dividends declared but not paid will be paid on the redemption date.
Like all share offerings, connectFirst Investment Shares are not covered by the Credit Union Deposit Guarantee Corporation. The risk, however, is balanced by connectFirst’s strong financial record. All interested members should read the Disclosure Statement, which provides an outline of connectFirst Credit Union’s financial performance for the past five years.
Only members of connectFirst Credit Union, 18 years or older, or a person acting on behalf of a member, may purchase connectFirst Credit Union Investment Shares. Investment Shares may be purchased as a non-registered and registered investment, such as a Registered Retirement Savings Plan (RRSP), a Registered Retirement Income Fund (RRIF), and a Tax-Free Savings Account (TFSA).

Want to become a member? Connect with us today.
A minimum investment of 1,000 shares ($1,000) is required. A maximum purchase of 100,000 shares($100,000) has been established for each member, regardless of the number of accounts, or memberships held with connectFirst Credit Union.
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*Terms and conditions apply.
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