Profit Sharing

When you join Synergy Credit Union, you become one of our member-owners with unique membership benefits. Your $5 MemberShare represents your ownership with Synergy and when we profit, so do you. Through our Profit Sharing program, you can share in your credit union’s profits through rate bonuses on deposits, rate rebates on loans (on most products) and dividends on your ProfitShares account. And, the more business you do with Synergy, the bigger your share.

You may have noticed money has been allocated into your ProfitShares account. Once your ProfitShares account balance reaches a certain balance, the amount over that you will be paid out in cash to your account pack.

Since 2013, Synergy paid out more than $18 million cash in ProfitShares back to our members. It’s part of the credit union difference.

Here are the benefits of ProfitShares:


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“You have the opportunity to share in credit union profits.”
- Earn ProfitShares rewards (profit sharing) each year, which go into your ProfitShares account. ProfitShares rewards are based on:

•    Interest paid on qualifying loans (ie. a Super Mortgage).
•    Interest we pay you on non-registered savings and term deposits.
•    The dividends you earn on your ProfitShares balance.

- Each year, your democratically-elected Board of Directors will determine your annual ProfitShares allocated into your ProfitShares account. Your ProfitShares allocation is equivalent to a rate bonus or discount.

- Once your ProfitShares account balance* reaches a certain amount each year, you get a ProfitShares cash payout (of the amount over that balance) that goes directly into your account later in the year.

*$10,000 for personal and $30,000 for individuals/organizations.


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"You have the opportunity to be rewarded for your business.”
- The more business you do with Synergy, the bigger your share (on qualifying products).
- Few products do not qualify for ProfitShares – mostly due to government regulations, such as registered products (RRSPs). Those products that do not qualify offer favorable upfront rates.
- Members automatically receive ProfitShares on qualifying products unless they opt out.

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“If you are above a certain balance in your ProfitShares account, you can expect a cash payment in your chequing account each year.”
-    ProfitShares allocation (on qualifying products) is deposited into your ProfitShares account.

With allocations made, your ProfitShares balance builds up. Once your ProfitShares account reaches a certain balance* for personal and business/organization accounts, you can expect to receive a cash payout in your account later in the year.

*$10,000 for individuals and $30,000 for businesses and organizations. 

In 2017, Synergy allocated more than $2.14 million into members’ ProfitShares accounts. Since 2013, when ProfitShares became more accessible, Synergy has paid out more than $18 million cash in ProfitShares back to our members.

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“You have unique benefits being part of a credit union.”
- Credit unions are different where they share their profits with their members who do business with them, rather than only for shareholders like at the big banks.
- Your $5 MemberShare represents your ownership in your credit union where you receive unique benefits like having your say and voting on matters that affect your credit union.
- The ‘one member, one vote’ co-operative principle applies where each member is treated equally and not based on their level of business or how much shareholders own (like with big banks).

Who might benefit from this product/ service?

All members borrowing and saving within specified products automatically qualifies them for ProfitShares.

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