Member Share Capital

Member Share Capital is not savings. It represents members investment in their credit union and forms the share capital of the Credit Union. Shares are your equity in NCCU and cannot be withdrawn. The price per Share is only $50, and new members must purchase at least one. A Share needs to be purchased for each beneficiary you name to your account. Do consider purchasing a Share annually for building up your share capital and strengthening NCCU’s capital base.

Take Note: Members requesting loans are required to invest in more than one Share.

Shares are to be purchased as follows:

LOAN AMOUNT	MEMBER SHARES NEEDED
Loans of up to $10,000	At least two (2) shares
Loans of up to $10,000 – $50,000	Four (4) shares
Loans of up to $50,000 – $100,000	Five (5) shares
Loans above $100,001	Six (6) shares and (1) additional share for multiples of $50,000 thereafter

Note: All members/depositors are required to complete a Declaration of Source of Funds (DSF) form for ALL deposits of $10,000 and over, or on any lesser amount as determined by the Credit Union.