Fact Sheet – Credit Union

Q. What is a Permanent Share?
A. A Permanent Share represents a member's ownership of or equity in First Regional Co-operative Credit Union Limited.

Q. Are all members required to have Permanent Shares?
A. Yes. Permanent Shares are necessary in order to retain membership in First Regional Co-operative Credit Union.

Q. How will members benefit from having Permanent Shares?

Permanent Shares represent members’ part ownership or equity in First Regional. Dividends are paid on Permanent Shares. Permanent Shares increase the Capital of the Credit Union and allow it to undertake expansion and enhancement of services to the members.

Q. Can Permanent Shares be used as collateral?
A. No.

Q. What is the Minimum Permanent Shares Requirement?
A. Each member is required to purchase at least Two Thousand Five Hundred Dollars ($2,500.00) in Permanent Shares.

Q. Will dividends be paid on Permanent Shares?
A. Dividends are paid on Permanent Shares subject to approval by members at the Annual General Meeting.

Q. Can Permanent Shares ever be withdrawn?
A. No. Permanent Shares cannot be withdrawn. However, if a member decides to give up membership or dies, the member or beneficiary will be paid for the shares.