Profit Sharing


Kingston Community Credit Union's mission is to foster the financial health of members by delivering outstanding and affordable financial services using co-operative principles


To be the most trusted financial service provider and grow the well-being of our community


We value: Co-operation: people helping people, Integrity: always doing what is best for our members, Community: commitment to strengthening our community, Sharing: sharing our success with our community and members, Financial Strength: building financial strength with co-operative and sustainable ethics, Education: sharing our expertise, and Respect for All.

Member Dividends

Annually, based on the previous year’s earnings members may be paid profit-sharing in the form of dividends. On March 26th, 2024, the 2023 AGM was held in person at the Donald Gordon Centre of Queen’s University. KCCU members approved sharing in $77,000 of after-tax profit. The level of profit-sharing is determined at the AGM and voted on by the members present. The profit sharing was in the form of a 6% member equity share dividend and a 5% service charge rebate which members present ratified. In theory, dividends might not be paid every year. KCCU members should be mindful of the difference between possible dividends and guaranteed interest when choosing an account. One popular alternative is the High Interest Savings Account which paid out some half a million dollars in interest to members wanting their savings available at any time without penalty. Other options include Guaranteed Investment Certificates, RRSPs, RRIFs, TFSAs and FHSAs (see the main menu for more deposit options).

Each year the level of dividends is determined by the performance and the need for capacity building at your Credit Union. In a competitive and highly technologically-driven world, KCCU spends money to ensure its members have all of the services they could get elsewhere but source locally, at the best price, and with maximizing member benefit as a driving force behind decision-making. KCCU has increased the financial literacy materials available to members including tips on member strategies and options for mortgage renewals during periods of higher interest rates. We now see this page as wisdom to be used to cope with uncertainty and high shelter costs relative to budget, as interest rates now appear poised to fall over the next 24 months. With a strong community-minded focus, your credit union is focused on member advocacy, cooperative value promotion, and making sure members have access to top-quality financial services for years to come.

KCCU is one of Canada’s premier financial institutions, strong, healthy, and profitable with a community-minded approach to business and it is owned by its members!

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)