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Get More Profit Sharing program

We share our profits with you, the causes you care about, and the communities you live in. To date, we’ve distributed over $80 million to our Members through our Profit Sharing program.


Benefits & perks for you

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Become a DUCA Member

Share in the profits, get great rates, and be a part of building your community.

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Bank with us

Get great rates and products as well as knowledgeable advice and a welcoming banking experience.

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Earn profits

At DUCA, you’re a Member – not a client – and you share in the profits.

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Thanks to DUCA, we have a fully detached house and my son will get to grow up in a beautiful neighbourhood.

—John, Member since 1996


Annual bonus share distribution

DUCA has paid a large portion of its profits back to our Members in the form of Class A Bonus Shares* since 1999 through our "Get More Profit Sharing" program. Shares are based on the interest Members paid and earned in the previous calendar year. Every year, the Board of Directors sets the level of new Class A Bonus Shares issued, at its discretion.


Class A Bonus Shares are paid annually. Everyone who joins DUCA becomes a Shareholder/Member and may therefore be eligible to earn Bonus Shares.


  • Only Members can earn Bonus Shares. Additional shares cannot be purchased.
  • Annual statements will indicate the total value of Bonus Shares.
  • In the event of death, Shares can be transferred to the Estate of the deceased or redeemed at full face value.
  • There is a $1,000 maximum Class A Bonus Share distribution per Member per year. Members must earn at least $10 across all account types for Shares to be posted to the Member's account. 


The total amount of Shares paid to Members, including both Patronage and Dividends, is based on our performance as a credit union throughout the year and is determined by the Board of Directors at the end of our fiscal year.


Shares cannot be redeemed in the year of issue. They can be redeemed in subsequent years as follows:

  • 50% of face value in year 2
  • 60% of face value in year 3
  • 70% of face value in year 4
  • 80% of face value in year 5
  • 90% of face value in year 6
  • 100% of face value in year 7 and beyond


*Bonus Shares are part of our equity as a credit union. Redemption of these shares is only possible up to a legal limit of no more than 10% of the total Shares outstanding for all Members in any one year, on a first-come first-served basis.

Profit sharing and your loan and mortgage interest:

  • the amount you receive is tax free unless the interest paid was claimed as a tax deduction
  • you can contribute the shares to an RRSP Share account and receive a contribution receipt 
  • you contribute the shares to a TFSA Share account


Profit sharing and your RRSP interest:

  • no tax is payable as the Shares will be paid to your RRSP plan and held as Shares in that plan
  • no tax receipt will be issued and your contribution room will not be affected
  • additional Shares can be transferred to this account for which a contribution receipt will be issued, assuming there is contribution room available


Profit sharing and your RRIF interest:

  • no tax is payable as the Shares will be paid to your RRIF and held as Shares in that plan
  • minimum annual payments will be made from your plan and transferred as Shares to a non-registered Share account
  • if you are under 71 years of age, you can transfer these Shares to an RRSP Share account


Profit sharing and your Savings and Term Deposit interest:

  • Shares earned will be paid to a Bonus Share account and treated as interest income for the year in which you received them
  • a tax slip (T5) will be issued in the following year
  • you can contribute the Shares to a Share RRSP account as a deposit and receive an RRSP contribution receipt, assuming there is contribution room available

On February 26, 2021, the Board of Directors was pleased to declare a dividend of 4.25% on Class B Series 4 shares and 3.00% on Class B Series 1 shares. Payment of the dividends was made on March 1, 2021. 

The amount of the dividend on Class B Series 4 shares was based on the number of days between the date the shares were issued to Members and December 31, 2020. For Class B Series 1 shares, the dividend was based on the Class B Series 1 shares that Members held as of December 31, 2020.

Class A shares are accumulated by our Members based on the amount of interest earned or paid during the year. A profit-share dividend of 2.00% was declared on all Class A profit-sharing shares held by Members on December 31, 2020.

We are delighted to report that over DUCA's history and including the current year's declaration, a total of $93.6 million of profit share distributions and Class B dividends have been returned and/or paid to our Members.

Can I buy more Bonus Shares?

No, you can’t. Bonus Shares are distributed to Members based on the amount of interest paid and/or received during the previous calendar year. Shares cannot be purchased.


What can I do with my Shares?

Class "A" Bonus Shares offer you lots of options and value. For example, if you used the First Time Home Buyers Plan to borrow from your RRSPs to purchase your first home, the Bonus Shares can represent at least a part of your minimum annual re-payment. In general, you can make your Bonus Shares work harder for you by transferring them into a Share RRSP account.


Why do I have to pay tax on my Shares?

In many cases, there are ways you can avoid or defer paying tax on Bonus Shares. Please refer to our Tax Implications information.


Why do I have to wait to cash my Shares?

We encourage you to keep your Bonus Shares and let them grow. With RRSP Share accounts and competitive annual return, keeping your Shares is generally more beneficial than cashing them. Also, since Shares are part of DUCA's capital, redemption must be controlled. The redemption schedule is discussed in the Class "A" Bonus Share Features.

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