DUCA Class B Investment Shares | DUCA Credit Union | Discussion forum

cgouimet said
DUCA have another investment share offer.

"Dividend rate is 4.50% annually for five years if and when dividends are declared. Declaration of dividends is not guaranteed and dividends are non-cumulative.

Does anyone have experience with these? Like their dividend track record?  

these are taxed as interest not dividend, and only if it"s declared. I rather buy a 5y corp bond if squeezing extra yield is the reason to think of getting something like that. At least interest has to be paid (assume all is good) and both are equaly illiquid anyway.

Dividend rate is 4.50% annually for five years if and when dividends are declared. Declaration of dividends is not guaranteed and dividends are non-cumulative.

Redemption of the Class B Investment Shares, Series 5 is subject to approval by DUCA’s Board of Directors and will be conducted on a first come, first served basis. Shares may not be redeemed until five years or more after the Issue Date, after which redemption is subject to an annual limit of 10% of Class B Investment Shares outstanding as of the previous year end.

… are not deposits and are not insured by the Deposit Insurance Reserve Fund (DIRF).