We’re proud to announce
Niagara Shares paid a
6.00% dividend for 2023


What are Niagara Shares?

PenFinancial Niagara Shares, often referred to as Class B Shares, are a great investment option that let you invest in PenFinancial Credit Union by strengthening our foundation for continued growth, which in turn helps us keep delivering on our mission to improve lives and strengthen communities.

In return, you earn an extremely competitive rate of return.

Whether you’re a GIC investor looking for predictable returns, or an investor looking to diversify for greater stability, Niagara Shares are suitable for a wide range of investing approaches.

Ready to purchase Niagara Shares? 

To download more information, or to speak to an advisor and purchase Niagara Shares, book an appointment online or fill out this form.

Not sure if Niagara Shares are right for you?

Set up a time to meet with our advisors →

Earn a competitive rate of return1

Niagara Shares pay a high annual dividend generally higher than our 5-year GIC rates.1 Although dividends aren’t technically guaranteed, Niagara Shares have never missed a dividend payout.

Flexible investment options

Niagara Shares are eligible to be invested in your TFSA, RRSP, and/or your unregistered money. And that’s a great thing, because when you earn a rate-of-return as high as Niagara Shares, you’ll want to ensure your money is working most efficiently for you. Your PenFinancial advisor can help determine what plan is best for your Niagara Shares investment.

Keep your money safe

When you invest in Niagara Shares, you’re investing in Niagara's truly local Credit Union. PenFinancial continues to sustainably grow, has a strong balance sheet, and has growing assets under management, so you can be confident your money is safe. Read more about PenFinancial in the latest annual report.

Diversify your portfolio

Get higher returns without the volatility and risk. Whether you’re a conservative or growth-oriented investor, Niagara Shares are a unique way to diversify your investment portfolio and provide you higher returns than GICs without all the volatility of investing in the market.

What are Niagara Share’s historical annual dividend payouts?1

PenFinancial is proud to announce that our popular Niagara Shares investment paid a 6.00% dividend for the 2023 year

Niagara Shares Rate Comparison 2024


Below are the previous dividends paid from Niagara Shares, with most years being during periods of historically low interest rates.

2023: 6.00%

2022: 4.75%

2021: 3.00%

2020: 3.00%

2019: 4.00%

2018: 4.00%

2017: 3.00%

As there are only a certain amount of shares available to PenFinancial Members, there is typically a waiting list in order to be eligible to purchase Niagara Shares.

A limited number of Niagara Shares are now available for purchase in 2024. 


PenFinancial’s foundation continues to grow

When you invest in Niagara Shares, you’re investing in PenFinancial Credit Union. 2021 was a very successful year, and has further strengthened PenFinancial’s foundation for sustainable growth into the future. To view more details about our financials and other successes, check out our most recent annual report.


2022 Assets Under Management


2022 Net Income


2022 Wealth Assets


Where you put your money matters, Niagara

PenFinancial is committed to using business as a force for good. Banking at PenFi is about more than just money. It’s about financial solutions that generate prosperity for Members and the communities they live in.

Learn about our TLC

1Dividend rates and payments are not guaranteed. Past performance of dividends has no impact on future dividend rates. Shares will earn the same rate as all outstanding Class B Shares, Series 1 of the Credit Union. Niagara Shares are not deposits. Dividends are not guaranteed and may, but need not, be declared on an annual basis by the Board of Directors of the Credit Union in its sole and absolute discretion. The securities are not insured or otherwise guaranteed by the Financial Services Regulatory Authority of Ontario or any similar public agency. There is no market through which these securities may be sold.
2Past performance is not indicative of future returns.