Member Ownership Shares

The value of ownership

Credit unions are owned by their members, who are the people who bank with them. All members have an equal say in how their credit union operates, no matter how much or little they have in their account. Members can voice their concerns and vote on the issues that matter to them.  Each member of the credit union is a part-owner and therefore shares in the profits of their credit union. 

Membership shares represent your ownership in Kingston Community Credit Union and as determined by the profitability of the credit union, members may receive profit-sharing dividends annually as determined by the membership at our Annual General Meeting.

Profit sharing

Your membership shares form part of the credit union’s capital in addition to the previous year’s undivided earnings. In each of the past thirty years, KCCU has paid a minimum of 3% dividend on these membership shares. Profit-sharing dividends paid are yours to keep.   

Credit unions’ commitment to members’ financial well-being and their cooperative model help Canadians hold on to more of their money by not only returning profits through profit sharing dividends but also through low and no fees accounts, great loan and investment rates, community investments such as donations, scholarships, and other initiatives, and through a national network of surcharge-free ATMs.  Credit unions do not pursue profits for the sake of rewarding shareholders’ quarterly return expectations like the banks do. We pursue profits to fund our business and to ensure future generations can benefit from the cooperative model and excellent banking services we provide.

KCCU share investment requirements


Our current by-laws require all persons 21 years or older to purchase a minimum of 5 shares @ $5 each (for a total of $25) to become and maintain their membership with KCCU. 

Youth under the age of 21 are required to purchase and maintain a minimum of one share @ $5.

Your shares are returned to you in full should you choose to close your membership with KCCU.

Members are also permitted to hold, at their discretion, additional membership share deposits of up $1,000 in excess of the minimum share requirement as a further investment into the credit union. Dividends paid will also apply to these additional shares held.  Excess shares may only be withdrawn when you close your membership.

A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.

  • A secondary piece of identification from the primary list above
  • Canadian Birth Certificate
  • Credit Card bearing the name and signature of the individual which has issued by a well-known and reputable Canadian financial institution
  • A CNIB (Canadian Institute for the Blind) client card bearing the individual’s photo and signature
  • Provincial Outdoors Card
  • Canadian University or College Student Card with photo (for student identification only)
  • An employee identification card (with photo) issued by an employer that is well known in the community (i.e. KGH, DND, Queens University, Corrections Canada, etc.)
  • Foreign passport
  • Canadian Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status issued by the Government of Canada
  • Driver’s licenses issued by province or territory
  • The DND (Department of National Defense) 404 driver’s license
  • Nexus Card issued by Canada Border Services Agency
  • Provincial Service Cards
  • Provincial or territorial identity cards (i.e. Ontario Photo Identification Card)
  • Foreign Passport (only if it is equivalent to a Canadian issued photo identification document)