FAQ

• Do you have to be a PenFinancial Member to purchase Niagara Shares?

  Yes, but becoming a Member is easy! Book your appointment to see if Niagara Shares are right for you.

• What is the rate of return?

  Niagara Shares rate of return typically outperforms our 5-year GIC interest rates that are offered during the same calendar year. Although the rate of return isn’t technically guaranteed, Niagara Shares are backed by PenFinancial Credit Union.

  PenFinancial continues to sustainably grow, has a strong balance sheet, and consistently has growing assets under management. For more details, read our latest annual report

• How is the rate of return determined?

  Dividends are declared on an annual basis by our Board of Directors, and generally exceed that of our best 5-year GIC rates during the calendar year.

• Is the rate of return guaranteed?

  Although the rate of return isn’t guaranteed, Niagara Shares are backed by PenFinancial Credit Union. See above for the latest dividend payouts.

  PenFinancial continues to sustainably grow, has a strong balance sheet, and consistently has growing assets under management. For more details, read our latest annual report.

• How are dividends paid?

  Dividends are paid in the form of additional Niagara Shares. The dividend payout is determined by the Board of Directors in the first quarter of the calendar year, backdated to January 1st, and will be reflected on your semi-annual statement.

• How long does it take once I get on the waiting list?

  The wait to purchase Niagara Shares varies and depends on how long the waiting list is. To secure your spot in line and to see if Niagara Shares are right for you, be sure to book your appointment today.

• Can I redeem Niagara Shares at any time?

  If you require the money to be instantly available to you upon a redemption request, this investment may not be right for you. Speak to an advisor to learn more about the redemption process.

• What's the maximum I can invest in Niagara Shares?

  The maximum amount of Niagara Shares you can purchase is $200,000.

• How do I purchase Niagara Shares?

  To ensure Niagara Shares are right for you, simply fill out the contact form below to book a meeting. Or you can even book a meeting online!

  We will get you on the waiting list to ensure you can purchase Niagara Shares when they first become available.

• Is my money safe in Niagara Shares?

  Niagara Shares are backed by PenFinancial Credit Union.

  PenFinancial continues to sustainably grow, has a strong balance sheet, and consistently has growing assets under management. For more details, read our latest annual report.

  Niagara Shares are not insured or otherwise guaranteed by the Financial Services Regulatory Authority of Ontario or any similar public agency.

• How come recent annual dividends aren’t higher than current GIC rates?

  Over the last number of years, we have been in a period of historically low interest rates. During this time, competitively priced GICs were in the range of 1% to 2%. Throughout this period of low interest rates, we’re proud that Niagara Shares continued to pay annual dividends in the range of 3% to 4%.

• Are Niagara Shares the same as Class B Shares, Series 1?

  Yes.

• Can I put Niagara Shares in my TFSA and / or RRSP?

  Yes, Niagara Shares are eligible for non-registered, TFSAs, and RRSPs. Niagara Shares are not available for RESP or RRIFs. To see if Niagara Shares are right for you, speak to an advisor.

• How is the rate of return taxed?

  Similar to GICs, non-registered Niagara Shares will be added to your T5 from your Credit Union. To learn how the annual dividend from Niagara Shares impacts your investments from a tax perspective, speak to an advisor today.