“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.

 

"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.

“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 2018, Synergy allocated more than $2.5 million into members’ ProfitShares accounts. Since its creation 35 years ago, Synergy has released more than $32 million in ProfitShares back to our members, and more than $18 million of this has happened in the past 5 years.

“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).