Share Our Success

What is Profit Sharing?

Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members (all who have accounts at the credit union) in the form of lower loan rates, higher interest on deposits, lower fees, and enhanced technology and convenience.

Credit unions are economic democracies. Each credit union member has equal ownership and one vote - regardless of how much money a member has on deposit. At a credit union, every customer is both a member and an owner.

As a Vermilion Credit Union member, you earn a profit share on nearly every banking product you hold. From a mortgage or car loan to retirement investments - even the deposits you make into a chequing or savings account.

Profit-Sharing and it's made up of two parts, depending on the banking you do with us:
  • Earnings are returned to member-owners in the form of patronage (lower loan rates, higher interest on deposits, and lower fees) and dividends on the common share purchased at the time of membership opening or invested at a later date.

And the more you bank with VCU, the more you earn each December.
This year, we're sharing $506,476 
which is 33% of the 2021 Annual Profit with our members.

We introduced the Profit Sharing program in 1999 so that our members could benefit directly from our profitability. It's our way of rewarding your membership loyalty. When we do well, so do our member-owners. And so do the communities we serve; the funds stay local, helping to generate more business in the and in turn build stronger communities.
The Common Share Dividend is credited to the Common Share CU Balance Account and the RRSP, RRIF and TFSA Dividend is credited to the applicable RRSP, RRIF and TFSA Common Share CU Balance Account.

Have questions about our profit share program?
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