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Holiday Coast Credit Union, Rock Solid Since 1967 and so are your Investments.

Holiday Coast Member Investment Securities

Member Investment Securities are irredeemable non-cumulative preference shares designed initially to grow the credit union capital base as well as providing members with an opportunity to receive franked dividend subject to the Board determining the payment of a dividend.

They are exclusive to Holiday Coast Credit Union, and you are eligible to purchase any available for sale Member Investment Securities once you have been a Holiday Coast Credit Union member for six (6) months.

Subject to the Board determining to pay a dividend, you will enjoy market-linked returns together with the satisfaction of knowing that you are investing in your own local credit union that is committed to supporting the growth and development of the Holiday Coast, Coffs Coast and Hunter regions of New South Wales.

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 investment option in the Credit Union
  • Allow the Credit Union to distribute franking credits to members and
  • Maintain the Credit Union's mutual structure

The rights attaching to Member Investment Securities are set out in full in the Credit Union's Constitution and were also highlighted in the Offer Information Statements.

Member Investment Securities are a special type of preferred share (irredeemable non-cumulative preference shares) that subject to the Board each half year determining to pay a dividend, offers a perpetual income source for Holiday Coast members and provides the opportunity for them to contribute equity 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 franked dividend on the shares and the satisfaction of investing in your credit union.

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 in accordance with the Business Rules.

As at 30 June 2016, 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.

 

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