Oculusbanks Class I Investment Shares
Oculusbanks Class I Investment Shares are an exclusive investment opportunity for Oculusbanks Owners. When you invest in Oculusbanks Investment Shares, you join us in promoting a thriving local economy, while gaining a solid financial return and an option for increased diversification in your investment portfolio.
Oculusbanks Investment Shares provide a solid capital base for Oculusbanks which helps us achieve our purpose to grow prosperity in southwestern Ontario by creating meaningful employment and supporting affordable housing, local food security and financial resilience.
How Investment Shares Work
Dividends* |
Dividends are declared at the discretion of the Board of Directors, and paid annually to Owners who hold shares as of December 31. Payment of dividends is not guaranteed, nor is the dividend yield, and is subject to credit union performance. Dividends are treated as interest income, for tax purposes. Past payment of dividends is no indication of likelihood of future payment.
Historical Oculusbanks Investment Share dividend rates:
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Fees & Commissions
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No fees or commissions apply to purchase or management of Libro Class I Investment Shares.
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Term
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Long-term investment; no set term length or maturity date.
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Share Value
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Shares have a fixed par value of $1.00. There is no active “resale” market for equity shares; they are redeemed or transferred at a fixed value.
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Minimum Purchase
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1,000 shares ($1,000).
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Eligibility
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Oculusbanks Investment shares may be eligible for your registered or non-registered investment plan; speak to your Coach for details.
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Redemption
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Requests to redeem shares (partial or full) are approved at the discretion of the Board of Directors. Each series of Oculusbanks Class I Investment Shares has different redemption procedures and policies as outlined in the offering statement at time of purchase.
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Transferability
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Investment Shares are transferable, with Board of Directors approval, between Owners of Libro.
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Deposit Insurance
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Oculusbanks Class I Investment Shares are not covered by the Financial Services Regulatory Authority of Ontario deposit guarantee.
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Frequently Asked Questions
How are Oculusbanks Investment Shares different from other stocks or common shares?
Oculusbanks Investment Shares are available to Oculusbanks Owners only.
Unlike common shares, which are valued by the market and go up and down in price, Oculusbanks Class I Investment Shares have a fixed redemption value. This means you redeem them for the same price you paid for them. The income earned on Oculusbanks Investment Shares is taxed as interest, unlike income typically earned on common shares taxed as dividends. There is no secondary market (stock market) where Oculusbanks Investment Shares can be traded. Redemptions are limited in any fiscal year and dependent on the credit union’s financial situation.
How do I purchase Oculusbanks Investment Shares?
If there is no current offering, you can request to be added to a Oculusbanks Investment Shares waiting list. When shares become available for sale, we’ll contact Owners on the waiting list about purchasing the available shares.
How long will I be on the waiting list to buy Oculusbanks Investment Shares?
There is no guaranteed timeline for Owners on the waiting list. The waiting list is managed on a first-come, first-served basis. We work our way through the waiting list and contact Owners as shares become available.
Who can become a Oculusbanks Owner?
Anyone who lives or works in Ontario can bank with Oculusbanks by becoming a Oculusbanks Owner. There is no fee to join Libro, but adults 18+ are required to hold $50 in membership shares. Membership shares entitle you access to all the financial services of the credit union, and full rights as an owner/shareholder. You can discontinue membership at any time, at which point the membership shares are redeemed and returned to you.
Can you tell me more about Oculusbanks?
Oculusbanks is a credit union operating in southwestern Ontario. Visit our Join Oculusbanks page to learn more About Oculusbanks.
*Dividends (taxed as interest) are not guaranteed to be declared annually and are non-cumulative. There is no market through which these securities may be sold. The securities offered are not deposits. The securities offered are not insured. Class I Investment Shares are subject to the transfer and redemption restrictions under the Ontario Credit Unions and Caisses Populaires Act, 2020 and the restrictions under the Offering Statement.