TransCanada Credit Union - Profit Sharing

Over the last 5 years we have shared over $184,000 of our profits with our members!

Credit unions are not-for-profit financial cooperatives, whose earnings are paid back to members through a variety of methods. This makes us very different to Banks, who are for-profit corporations, with declared earnings paid to stockholders only.

Like most credit unions, TransCanada Credit Union shares some of the profit we make each year with our members. This profit sharing can happen in a variety of ways, from dividends on your common share holding, to rebates on loans interest paid or bonus interest on interest earned in your savings account.

The profit share distribution is declared each year by our Board of Directors, usually in November and is normally paid to members in December of each year.

profit_share_chart

This is how our profits were distributed in 2016:
profit_share_2016_chart

We must caution that past distributions are in no way indicative of future profit sharing and that the financial results of the credit union will dictate what profit sharing occurs, if any.