Class A Shares

What are Class A Shares?

HMECU Class A Shares are an exclusive investment opportunity for our HMECU Members. When you invest in Class A Shares with HMECU, you are investing directly in us by helping us strengthen our capital base. In return, you earn a 3.25%* minimum rate of return, and the ability to diversify your investment portfolio.  

If you are a HMECU Member interested in purchasing Class A Shares, stop by your local branch and your branch manager will be happy to help! 

Features of Class A Shares

Fixed Redemption Value
Unlike common shares, which are valued by the market and go up and down in price, Class A Shares have a fixed redemption value. The price that you pay for these shares will be the same price you redeem them for.

Minimum and Maximum
You can invest as little as $5,000 to as much as $75,000 when you are offered the chance to purchase investment shares. 

High Rate of Return
Class A Shares pay an annual dividend. The minimum rate of return is 3.25%*.

Why Should You Invest in HMECU?

Class A Shares are a long-term investment option for members to diversify their porfolio, earn a higher than market rate of return and incest in the growth of HMECU. Funds raised through the sale of Investment Shares strengthen the capital base of HMECU. These funds will help the credit union have the necessary caoital to invest in new lending growth and new technology which we can use to offer expanded products and services to our members.

Get In Touch

Have a question about Class A Shares?
Feel free to reach out to us by calling your local branch. 

Interested in purchasing Class A Shares?
Shares can be purchased at your local branch. 

Would you like a copy of the Share Offering Statement?
Printed copies are avaliable at your local branch.

Frequently Asked Questions

How many Class A Shares does HMECU offer? Expand/Collapse

This is MECU's first Class Share offering, therefore making this offering Series 1.

How are Class A Shares different from other stocks or common shares? Expand/Collapse

Class A Shares are avaliable to HMECU Members only. The income earned on Class A Shares is taxed as interest, whereas income earned on common shares is taxed as dividends. Class A Shares cannot be traded on the stock market.

How can I redeem my shares? Expand/Collapse

No holder of Class A Investment Shares, Series 1 may request retraction during the first 5 years following the issuance of shares, unless the shareholder has died or been expelled from membership in the Credit Union. In no case shall the total number of Class A Investment Shares, Series 1 retracted in any fiscal year exceed 10% of the issued and outstanding shares.

What is the dividend rate? Expand/Collapse

The dividend rate is 3.25%*.

What if I have funds already invested that I would like to use for Class A Shares? Expand/Collapse

You can move your funds around. If you are interested in this, please reach out to us.

How are dividends issued? Expand/Collapse

Dividends are issued annually on the last business day in February each year. They are approved by the Board of Directors.

Are shares eligible for deposit insurance? Expand/Collapse

Class A Share investments are not eligible for deposit insurance by the Financial Services Regulatory Authority of Ontario.

How do I purchase shares? Expand/Collapse

If you are interested in purchasing shares please contact or visit your local branch.

What are the share purchase minimums/maximums? Expand/Collapse

The minimum share purchase is $5000 per person and the maximum is $75000 per person.

Do I have to be a member to purchase shares? Expand/Collapse

Yes, you must be a member of HMECU to purchase shares.

* Dividends at any particular rate are not guaranteed, are entirely at the discretion of the Credit Union’s Board of Directors, and in certain circumstances cannot legally be paid.  This investment is not insured by FSRA.  This investment is only available by offering statement.  This is not an offering statement.  To obtain an offering statement, please visit your local branch.

You must be a member to purchase Class A Shares.