Synergy Credit Union - Get Rewarded for Banking | Synergy CU ProfitShares Program

We’ve Shared Over $97 Million With Our Members — And We’re Evolving!

Since 1983, Synergy’s ProfitShares program has given back to our members through bonuses, rebates, and dividends.

As we prepare for our upcoming merger, the ProfitShares Program will officially end on December 31, 2025.

Eligible members will still receive their 2025 allocations and any applicable cash paydowns in 2026, and your ProfitShares account will remain visible on your statements.

Your ProfitShares account balance will not be paid out at this time. These funds will stay intact as we transition to a new rewards program that continues recognizing and giving back to our members in meaningful ways.

We’re committed to keeping you informed and will share more details as soon as the new program is finalized.

Thank you for being a valued member. We’re excited about what’s ahead!

How does the ProfitShares program work?
How do my ProfitShares get allocated?

Every year, Synergy Credit Union members can earn ProfitShares rewards — a unique way we share our success with you.

As part of our upcoming merger, Synergy Credit Union's ProfitShares Program will end on December 31, 2025. Eligible members will still receive their 2025 ProfitShares allocations and any applicable cash paydowns in 2026.

Here’s how it works:

Automatic Enrollment: You're automatically enrolled to receive ProfitShares on eligible products — no action needed (unless you choose to opt out).

Annual Allocation: Each year, your Board of Directors decides how much ProfitShares to allocate. Think of it as a bonus or discount based on your financial activity with Synergy.

Cash Payout: Once your ProfitShares account reaches a certain threshold, you’ll receive a cash payout for the amount above that threshold — deposited into your account later in the year.

How Rewards Are Calculated:

Interest on Loans: The interest you pay on qualifying loans
Interest on Savings: The interest we pay you on non-registered savings and term deposits
Dividends: The dividends earned on your ProfitShares balance

Eligibility: Most products qualify, but some are excluded — including Simplicity mortgages, registered accounts, certain trust accounts, specific chequing packages, some loans, and accounts with special pricing. These often offer competitive rates upfront.

You must also be a member in good standing.*

Thresholds for Payout: Personal members: $2,500, Business/Organization members: $10,000

*To be "in good standing", the applicable Member and/or Member account may not be in default of any terms or conditions of the membership, account, lending or card holder agreements, and accounts in question must not have been cancelled, closed, or otherwise have had any membership privileges suspended.

Allocation of Profits: Every year, up to 20% of Synergy’s pre-tax profits are allocated to our members’ ProfitShares accounts. This is our way of sharing the success with you.

Benefits for Borrowers: For example, if a member has a $325,000 residential Super Mortgage at 3.25%, they would have paid $10,562 in interest per year. With a 2% allocation rate, they would receive a payment of $211 ($10,562 x 0.02) into their ProfitShares account.

Benefits for Savers: Similarly, if a member has a $100,000 term deposit at 1.00%, they would earn $1,000 in interest per year. With a 7% allocation rate, they would receive a payment of $70 ($1,000 x 0.07) into their ProfitShares account.

Share Dividend: Members who have $4,000 in their ProfitShares account on December 31st would receive a 1% dividend of $40 ($4,000 x 0.01) paid into their ProfitShares account.

At Synergy Credit Union, unlike other financial institutions, our shareholders are you, our member-owners. This means when we profit, so do you through ProfitShares. Here's how it benefits you:

Ownership Advantage: When you join Synergy, you become both a member and an owner. The advantage? When our profits increase, so does your share. ProfitShares is our way of showing appreciation for trusting us with your financial needs.

Earning ProfitShares: Your ProfitShares are determined by the interest you pay on your qualifying loans and mortgages and the interest we pay you on your non-registered savings and term deposits. Plus, you'll earn a competitive dividend on your ProfitShares investment – the current balance in your ProfitShares account.

Transparency in Allocation: Each year, your democratically-elected Synergy Board of Directors decides how much to allocate and distribute for ProfitShares. These allocations are then added to your ProfitShares account.

Thresholds and Accelerated Growth: For personal members, anything over $2,500 and for business/organization members, over $10,000, will be deposited into your account. If you're not at these limits yet, you can reach them faster by exploring additional qualifying products and services.

We're here to help you understand profit sharing and explore how to earn even more. Contact our Member Contact Centre via phone at 1-866-825-3301.

Maximize Your ProfitShares
Each year, our ProfitShares program shares profits with members through annual allocations. These are typically credited in June, and you can view your ProfitShares account balance on your June statement.

Cash Paydowns
In October, members who exceed the ProfitShares threshold* receive a cash paydown. This amount is deposited directly into your primary chequing or savings account and can be viewed on your October statement.

Easy Access to Your Balance
If you qualify for ProfitShares, you can monitor your balance on your monthly or annual statements. For more detailed information, feel free to contact us. If you're eligible for a cash payout, it will be clearly shown on your annual statement.

*Account Thresholds:
Personal members — $2,500
Business/Organization members — $10,000

Important Update
As part of our upcoming merger, Synergy Credit Union's ProfitShares Program will end on December 31, 2025. Eligible members will still receive their 2025 allocations and any applicable cash paydowns in 2026. Your ProfitShares account will continue to appear on your statements, and while balances won’t be paid out at this time, your funds will remain secure as we transition to a new and modern rewards program.

Need Help?
We’re here to support you. Contact our Member Contact Centre by phone at 1-866-825-3301.

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ProfitShares FAQ

Membership That Goes Beyond Banking

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