Member Investment Securities
Perpetual income source…

Member Investment Securities are irredeemable non-cumulative preference shares designed to provide members with an indefinite source of income and the opportunity to contribute regulatory capital to their local credit union.

They're exclusive to Holiday Coast Credit Union, and you are eligible to purchase any available for sale Member Investment Securities once you've been a Holiday Coast Credit Union member for 6 months.

You'll enjoy market-linked returns together with the satisfaction of knowing that you're investing in your own credit union that is committed to supporting the growth and development of its community.

Further Information About Member Investment Securities

The Credit Union released an Offer Information Statement to its members on 28 September 2000, detailing the launch of Member Investment Securities, and a further offering of Member Investment Securities was made to members on 30 November 2004.

Member Investment Securities are specially constructed credit union investment instruments designed to:
• provide members with an attractive investment option in the Credit Union;
• allow the Credit Union to distribute franking credits to members;
• maintain the Credit Union's mutual structure; and
• qualify for regulatory capital adequacy purposes as Tier 1 capital.

The rights attaching to Member Investment Securities are set out in full in the Credit Union's Constitution.

Member Investment Securities are a special type of preferred security (irredeemable non-cumulative preference shares) that offers a perpetual income source for credit union members and provides the opportunity for them to contribute capital to their local credit union.

The Member Investment Securities provide a unique investment opportunity for people who have been members of Holiday Coast Credit Union for at least six months. It offers the potential for an attractive return on your money and the satisfaction of investing in your credit union.

The additional capital contributes to Holiday Coast Credit Union's future vitality, effectiveness and ability to better serve the financial needs of you, your family and your community. It also provides us with the opportunity to capitalise on our achievements and move forward with new growth.

Member Investment Securities are traded on a low volume financial market as approved under the Corporations (Low Volume Financial Markets) Exemption Notice 2003. Eligible members can buy or sell Member Investment Securities on the Trading Market.

As at 15 September 2005, there were 3,815,000 Member Investment Securities on issue.

Click here for Dividend History, Historical Trade Data, Last Trade, and Current Offers to Buy and/or Sell.