In a move that promises to benefit both its members and the wider community, Your Neighbourhood Credit Union (YNCU) has launched its Class A Investment Shares. This exclusive offering is designed to provide YNCU members with a robust investment opportunity while fueling the growth and stability of the credit union and the local areas it serves.
The Class A Investment Shares provide a unique opportunity for YNCU members to achieve competitive returns and diversify their portfolios. The credit union’s last issuance of Class A shares in 2018 was highly successful, resulting in $43.1 million in net income, $14.5 million in dividends paid to shareholders, and a $570 million increase in assets. This track record highlights the potential benefits for new investors.
“We are thrilled to offer our members the opportunity to invest in their credit union and support the mission of building financial well-being in the communities we serve,” says Aimee Wagner, Interim Chief Executive Officer, YNCU. “Proceeds from the investment shares sold will fuel our continued expansion, development, and community impact.”
The Class A Investment Shares come with a premium floating rate of return, offering an excellent opportunity for financial growth. These shares can be included in Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs), and non-registered investment portfolios, giving members the flexibility to align their investments with their financial goals and tax strategies.
YNCU also has a long-standing tradition of community engagement. In 2023, the credit union donated over $250,000 to various communities and charities across Ontario through initiatives like the Good Neighbour Fund. This fund supports numerous charitable activities across the province, demonstrating YNCU’s commitment to making a positive impact beyond just financial services.
“YNCU believes in the power of investing in our community and organizes various initiatives aimed at doing just that,” said Archie Bonifacio, Chief Community Officer of YNCU. “With our Class A Investment Shares, we’re providing our members with an opportunity to participate in the growth and prosperity of both their financial investments and the communities they call home.”
To learn more about how you can invest in YNCU’s Class A Investment Shares or to book an appointment with a YNCU staff member, visit YNCU Class A Shares.