Bruno Savings & Credit Union

MISSION STATEMENT TO BE A LOCAL DEMOCRATICALLY CONTROLLED RESPONSIBLE, VIABLE FINANCIAL INSTITUTION THAT IS RESPONSIVE TO THE SOCIAL AND ECONOMIC NEEDS OF CURRENT AND POTENTIAL MEMBERS. BOARD OF DIRECTORS In order to participate in the MEMBER OWNERSHIP PROGRAM of the Bruno Savings & Credit Union Limited, you must first become a member. The cost is $5. The $5.00 membership gives you the right to vote at our annual general meetings if you are age 18 or over and allows you to participate in the MEMBER OWNERSHIP PROGRAM . MEMBER OWNERSHIP PROGRAM (Patronage Allocation) What it is and how it benefits me: The Bruno Savings and Credit Union has a member ownership program in order to allocate each year’s excess profits back to the members of this Credit Union. The profits are shared based on how much interest you have paid to us on a loan and how much interest you have received on your savings accounts and term deposits with this Credit Union. # The amount of allocation is determined and established by the board of directors each year based on the Credit Union’s profit as at December 31st. We have paid patronage rebate over the past years with a total of over $1, 376, 800 being allocated to members’ equity accounts. Members can withdraw funds from their equity account once the balance exceeds $2, 000.00 or if they are over the age of 65. All funds allocated to the member ownership account shall be at risk and not subject to the Credit Union Deposit Guarantee program.