$2.485 million paid back to our members in ProfitShare Rewards!
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.

On your June statement you may notice money has been allocated into your ProfitShares account (your ProfitShares account builds over time). Once your ProfitShares account balance reaches a certain balance ($10,000 for personal and $30,000 for businesses/ organizations), the amount over the limit will be paid out in cash to your account pack. This cash payout occurs in the later part of the year.

In 2019, $2.485 million will go back to member's Profit Shares accounts based on deposits, loans and dividends!
So far this year, allocations are:

ProfitShare Allocation


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.
ProfitShares Icon

- 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.


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