What will happen to my jointly held membership shares?

All members will have their own membership shares held in their own Membership Shares account. Your membership shares are what make you a member and an owner of the credit union.

If you hold shares in a joint Membership Shares account, we’ll redeem these shares and re-issue them to the individual members previously named on the jointly-held Membership Shares account.

When we re-issue the membership shares, we’ll allocate them equally between the account holders.

Membership Shares allocation (joint accounts)

This change doesn’t apply to:

  • any deposits or other accounts you may hold jointly
  • Class C Investment Shares and Class A Savings Shares

This change only applies to: 

  • Shares that are held jointly under Class B Membership Shares and/or Class G Partner Shares

To enhance privacy for joint account holders, only you will see the accounts that solely belong to you, such as your Registered Plan and Membership Shares accounts on statements and in online/mobile banking.

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