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- 22/04/2021 at 8:49 pm #8184AdminKeymaster
Q: The dividends are a two-part process; one is on the share account, the other is on loans. How does the loans part/piece work?
A: VENTURE’s loan interest rebate will refund Members in good standing, a portion of their interest payments made for the one-year period Jan 1, 2020 – Dec 31, 2020.
Q: Will the dividend percentage be revealed at the AGM?
A: The dividend percentage is declared at the Annual General Meeting.
Q: Why are the dividends so low annually and money for donations and annual social events so high?
A: VENTURE’s budget is presented for approval by the membership annually at the Annual General Meeting. This includes the donations budget. It should also be noted that it accounts for a very small percentage of the surplus from which dividends are paid
Q: How is the interest rate for the dividends determined and can it be higher? Why is the dividend payout limited by the Central Bank?
A: Dividends are determined, primarily, by the profitability of the Credit Union. Dividend payout is not limited by the Central Bank.
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