Permanent Shares are required to be purchased at the opening of an account with the FNDECCU. The minimum one can purchase is 250 shares at $1.00 each. However, one is encouraged to purchase more and a member can purchase shares at any time they deem necessary. Currently, shares are non-refundable. If someone wants to close their account they must first bring the person who they intend to purchase the shares from, write and sign on the back of the certificate( an indemnity form is signed in absence of the actual certificate) that they are selling these shares to the individual of their choice, the monetary value of the shares is passed between both parties and the name on the new documents changed over to the new owner.
Based on the surplus at the end of the audit and after a percentage is allocated to Reserves, a dividend rate to be paid is determined at the Board level. If accepted by the membership a dividend is paid based on when one purchased their shares during the year under review. This means that someone who had their shares from the previous year stands to earn more than someone who purchased their shares during that same year.