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CONTACT CENTRE
Our truly local representatives are here to serve you:
1-866-866-6641
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.
To download more information, or to speak to an advisor and purchase Niagara Shares, book an appointment online or fill out this form.
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.
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.
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.
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.
Below are the previous dividends paid from Niagara Shares, many of which were distributed during periods of historically low interest rates.
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2024: 5.00% |
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2023: 6.00% |
2022: 4.75% |
2021: 3.00% |
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2020: 3.00% |
2019: 4.00% |
2018: 4.00% |
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2017: 3.00% |
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A limited number of Niagara Shares are now available for purchase in 2025. As there are only a certain amount of shares available to PenFinancial Members, there may be a waiting list in order to be eligible to purchase Niagara Shares.
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.
2023 Assets Under Management
2023 Net Income
2023 Wealth Assets
Yes, but becoming a Member is easy! Book your appointment to see if Niagara Shares are right for you.
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
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.
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.
Dividends have historically been paid in the form of additional Niagara Shares, however dividends may also be paid in cash based on the Credit Union's discretion. 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.
PenFinancial has decided to pay out the Niagara Shares dividend for the 2024 year in cash to be prudently manage the mix of sources of capital for the Credit Union. The Credit Union remains in a strong financial position, and this change reflects our commitment to our long-term sustainability.
You can’t choose to automatically reinvest the 2024 Niagara Shares dividend into additional Niagara Shares. However, if you wish to purchase more Niagara Shares. you can sign up for the waiting list by contacting your PenFinancial advisor.
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.
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.
The maximum amount of Niagara Shares you can purchase is $200,000.
To ensure Niagara Shares are right for you, simply fill out the form on this page 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.
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.
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%.
Yes.
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.
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.
The form of payment of the dividend has no impact on its tax treatment. If your Niagara Shares are held as a non-registered investment, your dividend payment is considered interest income and you will be issues a T5. This is the same process as previous years when dividends were paid as additional investment shares.
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.
