By purchasing Preferred Shares, you are investing in and benefiting from the success of Westoba Credit Union.
Whether you are new to the investment game or are already contributing regularly to a Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA) or other non-registered plan, investing in Preferred Shares could be a great option for you if you want to see your money do more.
By purchasing Preferred Shares, you are investing in and benefiting from the success of Westoba Credit Union. Dividends are reviewed and adjusted annually to reflect changes in the interest rate market, so you don’t have to worry about missing out on increasing rates. At the end of each year, Preferred Shareholders will be eligible to receive a dividend based on the current market rate and the number of preferred shares you’ve purchased.
Preferred Shares allow Westoba members to make a long-term investment that provides an attractive return that is much higher than the rate of return through other investment products such as bonds and term deposits. Plus, they offer hassle free management with no expiry or renewal dates to manage and no administration fees or sales charges. Take a look at the graph below to better understand how your money will grow!
Preferred Shares are eligible for purchase within a TFSA, RRSP and non-registered plans. That means that if you already have a TFSA or RRSP, your contributions can be used to purchase Preferred Shares. They are sold for $10 per share, with a minimum initial purchase of $500 and a maximum initial purchase of $100,000.
Let us help you determine whether Preferred Shares are the right fit for you! Together, we’ll review your financial fitness and develop the best investment strategy to meet your specific needs to help you achieve your financial goals. An investment in Preferred Shares is an investment in your financial future, as well as your Credit Union and Community.