Why has the Horizon Credit Union deposited the funds into my account and placed restrictions on how I access that money?
• Horizon Credit Union is growing and progressive in offering full service in all financial products and services. We have seen some good growth over the past couple of years. In order to continue to grow and offer current and new products and services we want to ensure we have a strong equity base as we continue into the future. By continuing to pay a portion of our profits back to the members in a retained equity account versus a cash payout, it will allow us to reach the goal of increasing our member’s equity and retained earnings in the credit union to 8% from the current 5.7% as of December 31st, 2008. This ensures our credit union will sustain any market conditions that may have a negative influence on our business in the future. How and when will I gain access to the money in my Member Patronage Retained Equity Account. • Members who are age 70 and over will be paid out their account balance in full each year. This will be deposited to your chequing account. • Accounts that invo
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