Redemption: Redemption of Class B Investment Shares is at the discretion of the Board of Directors. Redemption requests have a waiting period to allow time for the Board to meet. Series 1 (offered to members on March 31, 2000) have a 30-day waiting period for redemption requests. Series 2 (offered to members on August 29, 2013 and issued in April 2014) have a 90-day waiting period for redemption requests. If YCU has adequate regulatory capital and liquidity, the Board will redeem a maximum of 10% of the outstanding shares each fiscal year on a first-come first-served basis. After the 10% has been reached for a fiscal year, YCU will facilitate the transfer of shares between members, provided that a buyer can be found to purchase the shares.
This lack of liquidity means that Class B Investment Shares are not suitable for RRIFs, RESPs, RRSPs where the member is approaching age 71, or any other short time period where withdrawals will be required at a specific time.