The membership fee is $75. There are two types of memberships:

  1. Homebuyer Membership
  2. Investor Membership

Homebuyer Membership

Once the membership fee is paid, the member can start investing by acquiring a minimum of 20 shares of a fixed value of $100 each that mean, a minimum investment of $2000. There is no limit to maximum investment

The member should commit to buy a minimum of 20 shares every year (that is an investment of $2000/year).

The member will get dividend on his investment as long as he is not taking benefit of a housing unit. The member can either reinvest the dividend by buying additional shares or be paid dividend quarterly or annually.

The member will be eligible for financing according to Qurtuba regulations. This principle permits every member to help another member to finance a housing unit before their own turn arrives.

Once the Cooperative has approved the housing unit selected by the member, it is added to the units owned by the Cooperative. The member makes equal monthly payments over a period of approximately 15 years to repay the Coop's financing and the Coop's declining proportional rent.

Each monthly payment is calculated in two parts. The first part is applied towards repayment Coop's financing of the property and the second part for rental. The rental/lease rate is determined based on similar house lease/rental and  the Government Quebec statistics.

Once the Coop's financing is paid off, the housing unit is transferred to the member and the Coop participates to the extent of 10% in any Capital gain or loss over this period (check regulations)

Some of the advantages often mentioned by the Coop's clients are the 15 year repayment period instead of the more common 25 years, and the ability to payoff any amount of financing at any time by acquiring additional Coop shares.

Perhaps the most important from the client's point of view is that they are always treated as family rather than commercial clients and the Coop is quick to make special arrangements when sickness, job loss or other emergencies arrive. For these reasons, membership in the Coop is increasing.

Investor Membership

The Coop is looking for generous Muslims to invest their funds in the Coop rather than other financial institutions and receive Halal dividends. For those who don't want to buy a house but just looking for Halal investment, Qurtuba has throughout paid quarterly dividends annually between 5% and 7%. The gross amount of investment received by Qurtuba in the last 16 years is about ten million dollars.