Member Share Program

Sharing is caring with Hubert’s Member Share Program

By purchasing common shares when you open your Hubert membership (as well as purchasing additional shares if you choose!¹), you are investing in Hubert and become a part-owner of our organization. As an added benefit to our members, and as financial results permit, we reward our members by paying a dividend on their share investments.² These dividends are paid to you in the form of surplus shares based on your share balances. Basically, the better Hubert does financially, the more surplus shares you’ll get… it’s as simple as that!

¹Up to a maximum of 200 shares or $1,000.
²No dividend paid if dividend is less than $2.50

Tax implications

Any dividends paid to you on your common or surplus shares are taxable as interest income in the year they are paid. If your total interest and dividend income are more than $50, we will issue a T5 to be filed with your tax return. You must also report amounts below $50 on your income tax return.

Deposit insurance

Unlike your deposits, investments in both common and surplus shares do not qualify for deposit insurance under the Deposit Guarantee Corporation of Manitoba. As a result, it is our goal to pay higher than market rates on common shares as financial results permit.

Return guarantee

The payment of dividends is dependent on the financial success of the organization, therefore, returns in our Member Share Program are not guaranteed.

Redemption

The common shares you purchase and the surplus shares that are paid to you for holding an equity investment in the organization are intended to form part of the financial foundation for the organization. As a result, they are viewed as a long-term investment. However, you are able to apply to the Board of Directors to redeem any amounts in excess of the $1,000 minimum common share requirement. Shares may be redeemed at the sole discretion of the Board of Directors and will be influenced by the financial performance of Hubert Financial and Sunova Credit Union. Partial redemptions, if approved by the board, must first redeem the common shares. Dividend eligibility is forfeited on all approved redemption amounts.

Retirement savings

Investments in our member share program are RSP and TFSA eligible. Considering our historical dividend payments, you can’t really go wrong!

For additional information on our Member Share Program and this unique investment opportunity, please contact us.