This account holds your Vancity membership shares. Your membership shares are what make you a member and an owner of the credit union. Through our Shared Success program, you may directly share in Vancity’s success, including receiving dividends that may be declared on your membership shares – another example of how we do business differently.
During the Board of Directors’ election in April 2016, Vancity members voted in favour of a Special Resolution to make some changes to the Vancity Rules. One result is that membership shares can be better organized in our new banking system and in general.
Effective Monday, November 14, 2016, every Vancity member will have their own membership shares held in their own Class B Membership Shares account. Depending on your relationship with us, you may see a change in how your shares are held. Changes are coming for members who hold:
- shares in joint Membership Shares accounts
- more than one Membership Shares account
- a Membership Shares account in their Sole Proprietorship business account