Call: 07 5499 8988
email: info(at)mcusb(dot)com(dot)au
Member Investment Shares
The Credit Union released an Offer Information Statement to its members on 31st October 2005, detailing a new type of share called a Member Investment Share.
Member Investment Shares are an innovative capital instrument designed to:
- provide members with an attractive investment option in the Credit Union;
- allow the Credit Union to distribute franking credits to members;
- maintain the Credit Union's mutual structure; and
- qualify for regulatory capital adequacy purposes as Tier 1 capital.
The rights attaching to Member Investment Securities are set out in full in the Credit Union's Constitution.
Member Investment Shares are irredeemable non-cumulative preference shares that provide members the opportunity to receive an income stream via attractive yields and franked dividends on a twice-yearly basis without compromising the mutual status of the Credit Union. The Credit Union benefits from increased capital, which in turn gives us the ability to extend more loans to members. In essence, the share offering is designed to strengthen the autonomy of the Credit Union and support its future growth.
Member Investment Shares provide a unique investment opportunity for people who have been members of MCU for at least three months (a qualifying member). Member Investment Shares can be privately traded with another party or parties who are also qualifying members of the Credit Union.
The Credit Union has a matching facility to assist trading, which allows members to lodge an interest to buy or sell or peruse contact details for interested buyer/sellers already listed. Selling prices will not be quoted on the listings.
As at 2nd January 2006, there were 1,090,700 Member Investment Shares on issue.
Share Matching Service
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