​Membership Shares

At Moya Financial we strive to offer great products and services at very competitive rates. The profit we make from providing these services is either re-invested in the credit union or returned to you, our members. Remember, you are an owner of the credit union, so you share in its profits! Sharing profits is one of our credit union’s core values and it’s what makes us different from the big banks!

​What are membership shares?

When you join Moya Financial, you become a member/owner of the credit union by purchasing $50 in membership shares. Each member who is of legal age and holds the minimum $50 in membership shares is entitled to one vote. This means that you have a say in your credit union’s major decisions.

​What can I do with my membership share?

  • Members can increase their membership shares, if they wish, up to $1,000 to take advantage of any possible future dividend payouts.
  • Membership shares are the member’s money, and if a member ever decides to leave the credit union, these funds are refunded to them.
  • In the event of a member’s death, membership shares can be transferred to the estate of the deceased.

​Is there a maximum dollar amount of membership shares I can own?

Yes, you can own up to $1,000 in membership shares at any time.

​Are dividends paid on my membership shares?

Yes. The dividend is determined by the Board of Directors and depends on the credit union’s financial performance.

For our 2018 fiscal year, the Board of Directors declared a 4% dividend on Membership and Patronage shares.

The dividends were processed on May 30, 2019. The minimum share value required to receive a dividend is $25 (as directed by the board), resulting in a minimum dividend of $1. This applies to both membership and patronage shares. Both dividends were posted to the patronage share account. Dividends were rounded to the nearest dollar. Share values are the minimum of the amount as at December 31, 2018 and the amount as of May 29, 2019.

For example: a $50 membership share received a $2 dividend.

​Why should I increase my membership shares?

Your capital investment through the purchase of additional membership shares, helps to build the equity position of your credit union. A strong equity position lets your credit union take advantage of future business opportunities to improve services for members. By owning more Membership shares, you also take advantage of any future dividend payouts.

​Is my membership share account protected by FSRA?

No, membership shares are NOT covered by the Financial Services Regulatory Authority of Ontario (FSRA). For more information, visit FSRA's website.