Membership Shares represent a Member’s ownership of NBTA Credit Union. Each Member of the credit union is part-owner and therefore shares the profits of their credit union.

As of July 2013, NBTA Credit Union Members are only required to purchase one membership share at $5.00.   The $5.00 is a one-time purchase and represents your ownership of NBTA Credit Union.

NBTA Credit Union Surplus Shares Account is the account into which patronage rebates (profit sharing) are deposited. Each eligible member accumulates up to a total of eight hundred ($800) dollars. Any monies above $800 are available for withdrawal by the member.

Patronage rebates are based on the interest paid on personal loans and interest earned on savings accounts and term deposits.  It’s calculated by taking the total interest paid for the fiscal year and multiplying it by the patronage rebate rate approved at the Annual General Meeting (eg. 18%, 16.5%, 5%).  The rebate earned is deposited to the surplus shares account (“08”) usually a day or two after the Annual General Meeting.  The amounts for loans and deposits are entered separately.  The patronage rebate deposited to the Surplus Shares account is how we share our profits with our Members.