Profit Share

Giving our profits back!

Our Board of Directors is pleased to announce our membership’s profit share for the 2018 fiscal year.  At the end of November, you received the following dividend payments:
           
• Series A Investment Shares:   3.20%
• Series B Investment Shares:   3.20%
• Series C Investment Shares:   3.20%
• Common Shares:                     1.20%

It’s just our way of saying “thanks” for being a member of 1st Choice Savings.

Membership pays off

There are lots of differences between 1st Choice Savings and traditional banks, but one of the most important of these is that when we profit, so do you.  Why?  Because you’re a member.  When you became a member, you purchased shares.  These shares give you:

  • membership and ownership in 1st Choice Savings
  • the right to nominate a qualified board member
  • the right to vote for board members
  • the right to vote for key policy decisions at 1st Choice Savings Annual General Meetings

How dividends work

  1. When you open an account with 1st Choice Savings – or any credit union – you are required to purchase a minimum number of shares (at 1st Choice you just have to purchase one share at $1.00).
  2. Based on the number of shares you’ve purchased, you’ll get a portion of our profits each year.
  3. The more shares you have, the more dividends you receive when 1st Choice Savings makes a profit.

Why do we do it?

We operate on a simple “people-focused” philosophy that puts our members and our communities - not a small group of investors – first in line when it comes to everything we do, including our profits.  In fact, since our inception, 1st Choice Savings has paid out close to $3.2 million in dividend payments to our member-owners.

It’s just another way we set ourselves apart from traditional banks, who keep their profits, well, for themselves. 


Giving back to the members who put their trust in us is just another way we put people 1st.

 

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