Westoba Credit Union Ltd. Preferred Shares are now sold out! 

Keep an eye out on this page for the next time Westoba declares Preferred Shares.

What is a Preferred Share? 

Westoba wants our members to share in our success!  Westoba Class “B” Preferred Shares allow Westoba members to make an equity investment that provides an attractive return. A Preferred Share is a long-term hybrid investment that blends elements of equity and debt instruments.  

Features of Preferred Shares: 

  • Sold for $10 per share. 
  • Minimum initial purchase of $500 per member. 
  • Maximum purchase of $100,000 per member.  
  • They are TFSA and RRSP eligible. 
  • Long-term, non-redeemable investment. 

Note: there is no guaranteed rate of return and dividends are paid as interest and not eligible for the dividend tax credit. 

Why invest in a Preferred Share? 

Westoba wants our members to share in our success!  Westoba Class “B” Preferred Shares allow Westoba members to make an equity investment that provides an attractive return. 

This diagram shows Preferred Shares historical performance (since 2001 when they became available at Westoba) compared to Westoba’s five-year fixed term deposit and the Chartered Banks’ average five-year fixed term deposit rates over the same period. 

Preferred Shares - Westoba Historic Performance

Is this product right for you? 

Preferred Shares are for investors looking for a longer-term investment and/or wanting to diversify their portfolios.  

This product has a moderate level of risk for potentially higher returns.  

Important things to consider: 

  • While guaranteed by Westoba Credit Union, preferred shares do not carry third party guarantee like Westoba’s term deposits through the Deposit Guarantee Corporation of Manitoba. 
  • They cannot be resold because there is no readily available market. 
  • There is no guaranteed rate of return and dividends are paid as interest and not eligible for the dividend tax credit. 
  • Redemption after five years is not automatic and determined by the financial performance of the credit union and subject to approval from Westoba’s Board of Directors. 

Interested?… What’s the next step? 

Let’s review your financial fitness and develop the best investment strategy to meet your specific needs to help you achieve your financial goals. Speak with one of our knowledgeable staff members who will help determine if this investment is the right fit for you. 

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*Rates subject to change. Past performance is not indicative of future results.