Distribution of Dividends

The Board of Directors and Management offers their sincere thanks to all members who contributed to the success of the Virtual 62nd Annual General Meeting by their attendance and participation.

It is with with great pleasure that we advise our members of the posting of Dividends for the fiscal year 2020 to member accounts in accordance with Byelaw 13(iii) – "Powers and Duties of Annual General Meeting"  and Byelaw 28 - "Distribution of Surplus".

The Distribution of Surplus (Net Undivided Earnings) was declared as a 4% dividend and a 2% rebate (to loans) as submitted and accepted via Resolution at the recent Virtual 62nd Annual General Meeting.

Members are reminded that per Byelaw 28(b)(i) one third of dividends is credited and made accessible via member Deposit Accounts, while the other two-thirds are allocated to member Shares Accounts and are subject to the Society’s regular Share Withdrawal procedures.

We thank you for your continued support.

For more information please contact our offices at 226-4WCU (4928)