What you need to know about shares
As per the Credit Unions and Caisses Populaires Act in Manitoba, each member, regardless of age, must have at least one (1) membership share for a minimum of $5.00. Hubert Financial, a subsidiary of Access Credit Union, follows the person-centric membership model in which each account owner is allowed their own personal share.
Every member is an owner of one share, every member share will be equal, and every member shareowner will have a right to vote.
To satisfy share requirements and to allow members to participate in the Member Rewards program, the $5.00 share must be funded for all members beginning February 2024.
What you need to know:
We are required to ensure the $5.00 share is present for every Hubert member, which is different from any Common Shares you may have previously held.
UNDER-FUNDED SHARES
Those with underfunded shares that have a Common Share account with a balance of $5.00—or $10.00 if jointly owned—will see a transfer of these funds to the new Share account(s) and the original Common Share closed.
Others with underfunded shares will be contacted via letter with instructions for how to fund the $5.00 share. Funding could come from a demand account, a common share account, or by contacting us and making a deposit to the Share account.
How you will know:
Any transfers completed in your account will be detailed on your February 2024 monthly statement and in online banking.
What you need to do:
No action is required by members unless otherwise specified via letter or call from us.
Questions?
If you have any questions, please contact us. We appreciate your understanding and patience through this transition to unify our operations.