Become a Member

Join a community that is committed to building a more affordable Waterloo Region, together.

Union Co-operative has two types of members:

  • Community Members are people who live, work, or otherwise have a connection to Waterloo Region (e.g., past resident or student) and are committed to permanent affordability through community ownership. Community Members of the Co-operative can elect and be elected as a Director of the Community Member group.

  • Tenant Members are people who live in a building owned by the Co-operative. Tenant Members of the Co-operative can elect and be elected as a Director of the Tenant Member group.

Our First Property

  • Investments will be used to acquire, renovate, and manage an existing multi-unit residential building. This approach reduces the risk and complexity of building new, and preserves existing housing stock that often have below market rents.

  • Instead of selling a property when the value goes up, we will leverage the increased value to buy additional properties and preserve more units.

  • Reception House Waterloo Region, a local charity that supports arriving government-assisted refugees, will lease some of the units to provide affordable housing to arriving refugees.

  • We look forward to providing quality and affordable housing for all of the tenants who already live in the property. It’s their home!

Three Steps

Step 1:
Become a Member

  • Membership is open to people who live, work, or have a relationship (e.g., past resident) to Waterloo Region.

  • Membership shares are $500

  • Vote at member meetings, elect directors, run for the board

  • Only members can invest in preference shares

 

Step 2:
Read Offering Statement

See the offering statement for full details, including the securities offered, how funds will be used, financial statements, and risk factors. Co-operative offering statements are reviewed by the Financial Services Regulatory Authority of Ontario to ensure they meet disclosure requirements.

 

Step 3.
Invest in Affordability

Invest in Class A, Series 1 Preference Shares

  • $1,000 - $10,000 investment (increments of $1,000)

  • RRSP qualified investment

  • Annual board declared dividends

  • Funds held in trust by escrow agent until purchase of property

  • Request redemption five years after issue (subject to board approval)

You can choose to invest directly, invest from an existing RRSP, or invest directly and then transfer your investment into an RRSP.

Invest Directly

  • No annual fees

  • Simple subscription process

 From Existing RRSP

  • Transfer RRSP funds from a credit union or bank to a self-directed account (via Concentra Trust)

  • $55 annual fee and additional subscription forms

Invest Directly & Transfer to RRSP

  • Invest directly and then transfer share to a self-directed account (via Concentra Trust)

  • $55 annual fee and additional subscription forms

Please let us know if you need assistance completing the digital forms. We are happy to help and answer questions.

 

Do you have questions? Great!

It is important to us that you have all the information you need to decide if becoming a member and investing in Union Co-operative is right for you. Would you like to join us at an information session, or contact us to schedule a call with a member of our team?