Benefits of Membership
Talk to Loans Department
Whether you’re currently a Member or you’re just shopping, feel free to contact our Lending Department at 506-452-1725 or Toll Free in NB at 1-800-565-5626. Or feel free to reach Shawnalynn Reid , Dawna Scott or Kristy MacKinnon directly by email. Our Lending Department offers Mortgages, Loans, Lines of Credit, Home Equity Loans, and a variety of other products.
As of June 2010, NBTA Credit Union is open to the general public. If you would like more information on joining NBTA Credit Union, please contact our Fredericton office at 506-452-1724, by email at firstname.lastname@example.org , or in person at 650 Montgomery Street, Fredericton, NB.
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.
*Payroll deduction only available with certain employers. Talk to our staff for details.