Profit Sharing - Dividends
Annually, based upon the previous year's earnings members may be paid profit-sharing in the form of dividends. Last year, KCCU members shared in 38% of after tax profit. The level of profit-sharing is determined at the AGM and voted on by members present. 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. Over the past 5 years members shared in over $1.6 Million dollars of after tax profit. Each year the level of dividends are 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 sourced locally, at the best price and with maximizing member benefit as a driving force behind decision-making. KCCU has increased financial literacy materials available to members. With a strong community-minded focus, your credit union is focused on member advocacy, co-operative values and ensuring the availability and quality of services for its members 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!