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Sunova launches eVoting for Board of Directors
April 12, 2015
1:28 pm
Yatti420
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If your interested in voting on Sunova's board just login and the link should be there.. You can also buy additional shares upon request. Which is a requirement of standard Sunova accounts. I'm not affiliated with sunova other then a Hubert account with a few additional shares.

April 13, 2015
1:53 pm
Loonie
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that's very democratic of them. On the other hand, I wouldn't have a clue who to vote for!sf-confused

April 13, 2015
4:48 pm
JustMe
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Exactly! Most likely due to some kind law they have to invite you to vote. But, unless you are deeply involved in that particular financial institution how the heck you know who is who?
Waste of paper. If they could notify members by e-mail, I could tolerate but they send tons of paper...

April 13, 2015
6:25 pm
Loonie
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Yes, it probably is a legal requirement. I haven't received anything in the mail though - yet.

I must plan my next trip to MB to coincide with the AGMs of some of these institutions, and meet the folks! I wonder if there's a free lunch?sf-wink

April 16, 2015
1:21 pm
Bear
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JustMe said

Exactly! Most likely due to some kind law they have to invite you to vote. But, unless you are deeply involved in that particular financial institution how the heck you know who is who?
Waste of paper. If they could notify members by e-mail, I could tolerate but they send tons of paper...

I am new to Hubert and only found out about them because of this site. I decided to vote because it's no different than voting at my local Credit Union. I spoke to Hubert and they don't mail anything other than the annual T5 and welcome package. Curious, what did you receive in the mail JUST ME?

April 16, 2015
2:37 pm
Yatti420
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Hubert does send notices via email. They will not send paper due to the costs (other than T5s - legislated).

As a side note - I tried to get info on voting last year from Hubert and it was alot harder to do then this year. I never pushed for access to vote but I should of been able to.

April 16, 2015
3:59 pm
Loonie
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I have still not received any notification, by snail or e.

April 16, 2015
6:23 pm
Norman1
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I think one can still vote without having the e-mail notification.

After signing in, there is a link "Board eVote 2015" on left sidebar, under the "logoff" and "help" buttons.

April 16, 2015
9:08 pm
Yatti420
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Exactly.. Check online.. Here's the email I got..

Good morning,

Thank you for your interest in casting a vote in Sunova’s 2015 board election! You can vote by logging into your account with your member number and Hubert online password and select board vote from the left hand menu. Here is a link that will take you directly to the voting page https://www.sunovacu.ca/evote/

Last day to vote is April 20, 2015 so don’t forget to cast your vote before the deadline.

If you have any questions we are more than happy to answer them. We can be reached at 1-855-4HUBERT (1-855-448-2378), by email at hubert@happysavings.ca or by online secure chat at http://www.happysavings.ca.

April 16, 2015
9:58 pm
Yatti420
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The 2014 financial statement is out.. Payout for Sunova shares are listed.. https://www.sunovacu.ca/WhyWereAwesome#whoweare-reports

19. MEMBERS’ SHARES
Each member, of legal age, of the Credit Union has one vote, regardless of the number of shares
that a member holds.

Authorized shares
Common shares
Authorized common share capital consists of an unlimited number of common shares, with an
issue price per share to be not less than $5 and redeemable at the discretion of the Board in the
amount of consideration received for the share. Under the terms of a share purchase program,
members are required to purchase additional common shares. A member ceases to participate
in the program when they have a maximum of 200 common shares. The total amount of
common shares purchased or redeemed by the Credit Union shall not reduce the Credit
Union’s equity below 5% of assets.

Surplus shares
Authorized surplus share capital consists of an unlimited number of surplus shares, with an issue
price of $1 per share and redeemable at $1 per share.
Distribution to members and share dividends
During the year, pursuant to Board approval, the Credit Union declared:
[a] 4.90% share dividend of $891,186 [2013 – 4.50% for $843,994] based on common shares
held by the membership.
[b] 4.75% share dividend of $271,980 [2013 – 4.50% for $230,115] based on surplus shares
held by the membership.

April 17, 2015
5:53 am
Loonie
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I hesitate to ask, but does anyone know what this means in plain English?

April 17, 2015
10:28 am
Yatti420
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Payouts for Sunova shares.. 4.90% for common and 4.75% for surplus..

April 17, 2015
5:39 pm
Loonie
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4.9% and 4.75% of what? I know I'm not very bright on this issue, but don't the shares cost something like $5? I I thought every member just had one of them.

Does this really amount to anything?

April 17, 2015
8:00 pm
Norman1
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Sunova members who join through Hubert Financial are required to purchase just one share.

Sunova members who join through Sunova, who are not 60 years of age and older, not students enrolled in post-secondary education, and not under the age of 18, are required to purchase five shares initially and then an additional ½ share each month. The monthly purchase continues until member has accumulated 200 common shares (invested $1,000). See Sunova: didn’t your parents ever teach you about sharing?

One can purchase more Sunova shares, if one wishes.

April 17, 2015
8:11 pm
kanaka
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So does that mean 2012 dividends were over 9%?
Can we Hubert members buy?
Can we put them in a TFSA account?

What happened in 2013 and 2014?

https://www.sunovacu.ca/Home/Download/0?path=~%2FContent%2FFiles%2FShare

April 17, 2015
8:23 pm
Norman1
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Unfortunately, it was not over 9% in dividends.

It was 4.90% on the one's common share holdings and 4.75% on one's surplus share holdings.

April 17, 2015
8:24 pm
kanaka
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Loonie said

4.9% and 4.75% of what? I know I'm not very bright on this issue, but don't the shares cost something like $5? I I thought every member just had one of them.

Does this really amount to anything?

I have a friend that used to be a Credit Union manager and he said in the old days that buying shares was a good deal. I don't think that most credit unions push selling them in quality any more.

April 17, 2015
8:25 pm
Norman1
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Someone reported that the shares are TFSA eligible and Hubert members could buy more. See thread Hubert / Sunova Common & Surplus Shares now RRSP/TFSA Eligible

April 17, 2015
8:35 pm
kanaka
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So is the common share the 1 that you have to have for an account and what ever more you buy are the surplus ones? I can be sooooo daft!!!

April 18, 2015
12:17 am
Yatti420
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Historical dividend payouts: https://www.sunovacu.ca/Home/Download/0?path=~%2FContent%2FFiles%2FShare

The surplus is the dividend you get off your common share(s).

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