Westoba Credit Union Declares Member Preferred Shares Dividend Payout

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Photo: Westoba Credit Union

The Board of Directors of Westoba Credit Union (Westoba) are declaring a Preferred Share member dividend payout of three per cent on outstanding Westoba Credit Union Ltd. Preferred Shares for 2021.

Jim Rediger, President and CEO of Westoba, says the organization is proud to have offered a long-term and purposeful investment this past year.

“Westoba is pleased to announce a 3% per cent dividend to our members holding preferred shares,” said Rediger. “Preferred Shares are an exclusive investment with a historically above-average rate of return and can be used towards a Tax-Free Savings Account or a Registered Retirement Savings Plan.”

Rhonda Oakden, QAFP ™, CHS, RIS, Director of Westoba Financial Solutions Ltd., explains that Preferred Shares are designed for investors that want to diversify their portfolio while supporting their credit union. “When you invest in Preferred Shares, of course, you want to grow your investment; that means weathering the market,” said Oakden. “The long-term time horizon for preferred shares is a key feature for many of our members overall investment planning strategy.”

The Preferred Shares dividend payout for 2021 totals over $416,000. Dividends will be paid to Members by the end of February 2022. Currently, no preferred shares are available.

For more information on Preferred Shares or to book an appointment, call 1-877-WESTOBA or email infowcul@westoba.com.