Withdrawable Shares

Withdrawable shares or callable shares are non-equity shares and as such form part of the liabilities of the Credit Union.  The par value of a callable share is $5.00.  These shares can be withdrawn by members on demand provided that the value of these shares exceed the balance standing on the members loan account.  Callable shares are used as collateral for loans.  The value of a member's callable shares will determine the amount of loan which can be granted to a member.   Interest is paid on this class of shares twice yearly.