In 2019, $2.046 million will go back to member's Profit Shares accounts based on deposits, loans and dividends! Plus there will be thousands more in member rewards coming this fall! So far this year, allocations are:
How does the Profit Sharing Program Work?
- Earn ProfitShares rewards (profit sharing) each year; the rewards are paid into your ProfitShares account. ProfitShares rewards are based on:- Interest you have on qualifying loans.
- Interest we have paid you on non-registered savings and term deposits.
- The dividends you earn on your ProfitShares balance.
- 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.
- 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 businesses/ organizations.
