Update: January 29, 2024 — The majority of existing surplus share amounts were successfully transferred to surplus shareholder members’ chequing or savings accounts as planned, with the statement message called "Descriptive Deposit Account closure and payout.” Please be assured that the account to be closed will be the Surplus Share account ONLY (not chequing or savings accounts) and this will occur over the next few days.
(January 12, 2024) — The Assiniboine Credit Union (ACU) Board of Directors has approved a full redemption of outstanding surplus shares in the credit union. The total redemption equates to a $9 million payout to members who hold surplus shares.
The redemption reflects ACU’s strong financial position, which has increased in recent years through mergers, most recently with Winnipeg-based Entegra Credit Union.
This comes on the heels of preferred and surplus share dividends announced earlier this month.
This is yet another indication of ACU’s strength and vitality. Not only do members share in the community economic activity generated by the financial institution they own, they also participate financially in the credit union’s success.
Members who currently hold surplus shares will see redemptions via a deposit to their existing chequing or savings account on January 29.
About Assiniboine Credit Union
ACU is a financial co-operative with over $6 billion in assets. We offer a full suite of personal and commercial banking products and services, and a team of financial and wealth advisors to help our members succeed. We have 16 branch locations in Winnipeg, two northern branches in Thompson and Gillam, and we’re owned collectively by over 140,000 Manitobans who use our services today. Money doing more is the guiding statement that represents the way we do business, and conveys our ongoing commitment to the economic, social and environmental health of our communities. Over the last 80 years, we have helped our member-owners achieve their dreams, and we’d like to help you achieve yours.
Assiniboine Credit Union