Dividends Disbursement – Frequently Asked Questions
1. How do I apply for my dividends?
You can apply for your dividends by logging onto your account via our online banking website www.ccuebranch.com or using CCU’s Mobile Application to send us a secured message providing your bank name and account number.
2. Do I need to re-apply for my 2019 dividends?
Once you previously applied for your dividends in March 2020, there is no need to reapply as we will process that initial request. If you did not apply in March 2020, please logon to online banking via www.ccuebranch.com and send us a secured message advising of your bank name and account number.
3. How much dividends am I entitled to?
As the Commissioner for Co-operative Development has approved 75% dividends, you will be entitled to 75% of the proposed dividend rate for 2019 which is 5.5% based on your total contributions for 2019.
4. How long will it take to process my dividends request?
All requests received for transfers to your bank account (ACH) in March 2020 will begin processing from Tuesday 14th July 2020. Notifications that your dividends have been disbursed to your bank account will be sent via email. All requests received for cheque preparation will begin processing on Tuesday 14th July 2020. Notification that your cheque is ready will be sent via email.
5. I requested my dividends via cheque, when can I collect?
All members who requested to have cheques in March 2020, will be advised by a distribution notice based on your Surname when you can visit to collect your cheque. You will be advised when your cheque is ready for collection via email.
6. I requested my dividends to be sent to my bank account, when can I see my funds in my bank account?
All members who requested dividends in March 2020 to be sent via their bank account will receive funds to their bank account from Thursday 16th July 2020. You will also be advised when your funds have been disbursed to your bank account via email.
7. If I don’t collect my dividends where will they go?
Members who did not make a previous request in March 2020 for their dividends, their dividends will remain on their dividend account for three (3) months from the disbursed date. After which, it will automatically transfer to your share account. If you wish to have it transferred sooner, please logon to our Online Banking site at www.ccuebranch.com, click the transfer tab and transfer the funds from your dividend account to your account of choice, using the self-transfer option.
8. Do I have to re-apply for my 25% once approved?
After the membership approves the remaining 25% at our next scheduled AGM, yes members will be required to login to online banking via www.ccuebranch.com or CCU’s Mobile Application and submit a secured message indicating your bank name and account number to send your remaining funds. If you wish to transfer said funds to your shares or deposit account, please also log on and click the transfer tab to complete this request via the self-transfer option.
9. When will I get the rest of the dividend?
The remaining 25% dividend will be disbursed after it is approved by the Membership at our next AGM
10. When is the next AGM?
The date for our next AGM has not yet been confirmed and will be advised via all Social Media platforms, emails to the membership, and via our website.
