"Dear respondent,

The rationale for this survey is to assess community support for a Muslim (Sharia-compliant) credit union in the GTA. There are currently no credit unions that have been established to operate solely upon the tenets of the Muslim faith.

The purpose of this survey is to know more about the community so that we can properly tailor the key products offered to better serve the community. Your continued support is sincerely appreciated.

If you have any questions or concerns about this initiative, please contact
Project Lead Coordinator: Sheikh Suleiman
Email: aburahzam@gmail.com
Spiritual Leader: Sheikh (Dr.) Iqbal Nadvi
Email: alnadvi@gmail.com

By participating in this survey you consent to have your information used in determining the feasibility of an Islamic credit union. For more information on data use and its retention, please contact: Prof. Imran Abdool, ICUC Lead Consultant at: iabdool@uwindsor.ca.

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* 1. Do you live in Ontario

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* 2. How many years have you lived in Ontario?

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* 3. What age range do you belong to:

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* 4. What is the highest level of school you have completed or the highest degree you have received?

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* 5. How would you rate your level of knowledge about finance and investments in Canada?

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* 6. If a credit union were established to serve the GTA Muslim community, would you be interested in its services:

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* 7. Which of the following reasons would cause you to transfer your account to our credit union:

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* 8. How far would you travel to use the credit union’s

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* 9. Would you like to be a volunteer to help get the credit union started?

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* 10. In what capacity would you be interested in volunteering?

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* 11. Under the Credit Unions & Caisses Populaire’s Act, to ensure growth and viability, credit unions can charge service fees, when necessary, towards their administrative expenses, usually in their early years. As credit unions grow these fees are gradually eliminated overtime, and instead, parts of their profits are distributed back to their members. ICU “Proposed Credit Union” has determined that up to $10 per month might be paid by members in its early years. Would you be willing to support its growth in this regard?

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* 12. Credit Unions are community-based financial co-operatives which depend upon the active support of their members. Would you attend the credit union Annual General Meeting (AGM)?

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* 13. Are you primarily interested in personal or commercial financial services?

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* 14. Rank your service preference: in-person, online, telephone, or ATM.

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* 15. Membership shares are the shares that you buy to become a member of a credit union. These shares are not insured by the Deposit Insurance Corporation of Ontario (DICO) (not to be confused: the money deposited into your account is insured by the Ontario government up to $250,000). How much would you be willing to invest in the credit union’s membership shares?

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* 16. The credit union may also need to issue preferred shares to meet the capital requirements. Like member shares they are not insured by DICO. However, unlike member shares, revenue sharing is paid to Preferred Shareholders prior to Common shareholders and preferred shares rank above the interests of common shares. They are generally considered long-term investments. How much would you be willing to invest in such shares:

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* 17. If available through an Islamic credit union, select the top three services that are most important to you

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* 18. What registered deposit amount would you provide to this institution if/once this service become available?

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* 19. Which of the following factors would be important to you (select all that apply):

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* 20. Would you prefer investing in mutual funds or taking advantage of term deposits? Please select only one:

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* 21. If you plan to buy a house through an Islamic credit union, what is the approximate price of the house you are considering:

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* 22. If using commercial loans, what average amount over a 5-year period do you plan to borrow?

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* 23. How often do you expect to make transactions via your chequing account? A transaction is any deposit or withdrawal into and from your account.

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* 24. How do you plan on primarily conducting your transactions? Please select only one.

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* 25. Rank the following transaction types based on your frequency of use: cash/coins, paper cheques, electronic transfers (i.e., Interac e-mail, wire transfers, etc..)

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* 26. What volume of transactions do you expect to conduct for the following method: Cash/coin

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* 27. What volume of transactions do you expect to conduct for the following method: Paper cheques

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* 28. What volume of transactions do you expect to conduct for the following method: Electronic transfers

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* 29. How often do you plan on depositing funds into your account (on average)?

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* 30. What do you expect the average amount of your monthly deposits to be?

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* 31. What do you expect the average amount of your monthly withdrawals to be?

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* 32. How long would you be willing to lock-in your investments with our credit union:

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* 33. Which financial institution, if any, do you currently bank with?

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* 34. How/where did you first hear about the ICUC project?

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 50% of survey complete.

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