Important account update.

This change will streamline and improve the member’s banking experience, as the Common Share Dividend account is considered redundant.

Yes, combining common share accounts will be excluded for the following:

• Registered Common Share Dividends
• Common Share Dividends that are part of an Estate
• Common Share Dividends and Member Common Share that are jointly owned
• Common Share Dividend accounts with no corresponding Member Common Share account

There will be no change in how the rate of return is calculated.

In November 2024, members will observe two dividend payments processed to the Member Common Share account. One payment will be for the dividends on the closed Common Share Dividend account balance, and the other for the Common Share account balance.

There are two possible scenarios based on how your statements were being received prior to the closure:

• Members who have always received a stand-alone paper or e-statement for the Common Share Dividend account will receive one final separate stand-alone closed account statement based on their existing statement frequency dates and statement option (paper or e-statement).
• Members receiving a statement that included their Common Share Dividend account will see the funds transfer and account closure on their next statement following the closure.