Bank where you’re more than a number
Get the personalized financial support you deserve at Lake View.
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What is a member dividend?
Dividends are earned based on deposits held at Lake View Credit Union throughout the calendar year.
How much will each member be allocated?
Members are allocated a percentage of deposits held at Lake View Credit Union during the calendar year. The allocation rate may vary from year to year as it depends on the earnings achieved. The Board of Directors approves the total amount of Member Rewards once the year-end financials are completed.
Will allocations be made each year?
Lake View Credit Union will continue to focus on maximizing the ability to pay dividends to members as part of the cooperative values and belief that members should share in our profits. The objective of our Member Rewards program is to pay bonuses to our members, subject to the financial results of the Credit Union, and approved by our democratically elected board of directors.
How will dividends be paid out?
Member Rewards (dividends) will be paid via deposit to an available chequing or savings account.
Do all members participate in the program?
All members in good standing are eligible to benefit from the program.
Are dividends taxable?
Dividend paid by Lake View Credit Union are taxable, and the Credit Union will issue a T5 for any amounts paid over $50.
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