When we do well, you do well.

When we do well, our members and our community benefit.

At Turtleford Credit Union, we are owned by our members, not outside shareholders. That means when we have a strong year, a portion of our earnings may be returned to the people and community who helped make it possible.

We did well in 2025, and that means $150,000 is being returned locally through our Patronage Allocation.

Of that total, $110,000 is being returned to eligible members based on the business they did with us last year, and $40,000 is supporting the Riverside Health Complex.

What is Patronage?

Patronage is one way we share success.

Each year, our Board of Directors reviews our financial performance. When our income exceeds a set threshold, a portion of earnings may be returned to members based on how much they saved or borrowed with us.

It is not a promotion. It is not a rebate. It reflects the values we are built on.

• Ownership
• Community
• Trust

What is different this year?

This year, along with returning $110,000 of funds to eligible members, a portion of the allocation is also being invested directly into our community.

$40,000 is supporting the Riverside Health Complex.

The Riverside Health Complex provides important care close to home, including emergency services, medical care, lab and x-ray services, home care, and continuing care for local residents.

Supporting it means supporting local families, neighbours, and friends.

How it Works

Who’s eligible?

• If you saved or borrowed with us last year, you may be eligible to receive a share.

Where will I see it?

• You’ll find your Patronage Allocation on your statement in the month it is processed, typically spring or early summer.

Where does the money go?

• It’s deposited directly into your account:
  • If you have a chequing account, it goes there.
  • If not, it goes into your savings account.
  • If you don’t have either, it’s applied to the loan that generated your return.

Why it matters

This is what it looks like when a financial institution is owned by its members.

Success is not sent elsewhere. It stays here.

It supports our community and is shared with the members who helped make it possible.

Do you have questions? Here are some answers.

Why does Turtleford Credit Union return profits to members instead of shareholders?

• Because we don’t have shareholders. We have members. Returning a portion of earnings to members is a part of what makes a credit union different.

How do I know how much I received?

• Your individual Patronage Allocation amount is listed on your statement in the month it is processed, typically late spring or early summer.

Is this guaranteed every year?

• No. It depends on our financial results. If our earnings exceed the required threshold and the Board approves a payout, Patronage is distributed.

Is the amount taxable?

• Yes. In some cases you may receive a T5 slip if your Patronage Allocation qualifies as taxable income under CRA guidelines.

Can I request my allocation in a different form?

• No. This year’s allocation is paid automatically to eligible members through their existing account.

What if I didn’t receive anything?

• There are a few reasons this could happen:
  • Your account was closed before year-end
  • Your loan was in arrears over 90 days
  • Your allocation amount was under $5
  • You held a type of account that is not eligible such as registered accounts, trust accounts or institutional accounts

Who decides how much gets paid out?

• The Board of Directors makes this decision each year based on our financial results and whether we’ve exceeded the threshold set for distributions.

If you still have questions, we are here to help. 

Stop by the branch, give us a call, or send us an email. 

Contact Us.

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