Membership Equity Shares Account

Our members are our owners


  • Requirements to open an account
  • How and when dividends are paid
  • How to redeem Class "A" Shares

A Membership Equity Shares Account, holds your voting shares in the credit union. This makes you a member-owner and allows you to voice your opinions in how G&F Financial Group is run and operated. For example, you can vote in Board of Director Elections and in special resolutions the credit union puts forward. Money invested in Equity Shares and the dividends earned from them are not guaranteed by the Credit Union Deposit Insurance Corporation (CUDIC) and shares are valued at $1.00 per share. Click on the tabs below to learn more.



As actual owners of the credit union, all members are required to have $5.00 in Equity Shares: individuals, including junior members, must buy and retain a minimum of 5 Class "A" Membership Equity Shares. The maximum Class "A" shares each member may purchase is 1,000. The balance may only exceed 1,000 by way of dividends, special dividends, and/or inheritance.


The Membership Equity Share Account is not an interest bearing account. However, dividends may be declared at the discretion of the Board of Directors. The dividend is dependent on the financial status of the credit union for that year and traditionally is paid annually during the first quarter following year end.


Class "A" Shares may be redeemed in full at any time upon*:

•    Member withdrawing from membership
•    Termination of membership by the credit union, as approved by the Board of Directors
•    Death of the member
•    Member is a partnership which dissolves
•    Member is an incorporated company and is dissolved or wound up
•    Member in any other case, ceases to be a legal entity according to the statute by or pursuant to which it was created.

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*Subject to the Credit Union Incorporation Act, the Credit Union may redeem the Class "A" Membership Equity Shares held by a member on such terms and conditions and at such time as the directors, in their discretion, resolve; Notwithstanding the foregoing but subject to the Credit Union Incorporation Act, the amount of Class "A" Membership Equity Shares that the Credit Union may be required to redeem in any financial year is limited to 10% of the amount of such shares issued and outstanding on the last day of the immediately preceding financial year; Any redemption or purchase of Class "A" Membership Equity Shares shall be at par value plus any dividends declared but unpaid thereon.