Member Benefits

Profit Share

Your share in the bounty is our biggest payout ever!

Encompass Credit Union is a member-owned financial institution where members vote for the board of directors and enjoy the benefits of profit sharing. To become a member, each individual must purchase common shares which then allows them to share in the profits!

Again this year, we returned $2 million to the communities we serve.

This included:

  • A profit share payout of $2,000,000 back to our members through a 2.0% common share dividend, a loan interest rebate of 12.0% and a deposit interest bonus of 12.0% in the 2016-2017 year.
  • Community Enrichment of $107,070 for the 2016-2017 fiscal year! That means we provided $107,070 through scholarships, grants, donations and sponsorships in the communities we serve.
  • Community Social Responsibility Investment Program (CSRIP) grants of up to $10,000 are awarded in February of each year. Stay tuned for our official 2018 announcement after our AGM on February 6, 2018.
  • Three $1,000 Scholarships awarded to our members currently enrolled in post-secondary education.

How Profit Sharing Works

The profit share program was started in the 1980's and it has been very successful. The Board of Directors designed the program to stabilize earnings during fluctuations in the economy or changes in interest rates and as a means to most effectively distribute surplus to the members. Simply stated, the Board of Directors examines the profit, the amount before taxes and patronage allocation, and determines how much can be distributed to the membership. Each member receives a different amount depending on the number of common shares, the amount of loan interest paid, and the amount of interest received from non-registered investments.

For more information about Common Shares, take a look at our Common Shares Disclosure document.




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