MEMBERSHIP
Membership shall be open to:-
(a) (i)
All persons who are bona fide employees,
pensioners or medically retired employees of ANSA
McAL Limited, and the ANSA Group of Companies and their subsidiaries and
Associate
Companies of this society.
(ii) Former
employees who have retired from their place of employment and not in
receipt of a pension. Provided they were members of the Society for a
period of one year immediately prior to the date of their retirement.
(iii)
Persons losing their qualification for membership as stated in 4 (a) (i)
by way of retrenchment or resignation will be allowed to retain their
membership with the Society.
(iv) The
immediate family of members classified in 4 (a) (i) of the Society may
be accepted, provided always that such persons shall only remain members
as long as the sponsoring member retains their membership in the
Society.
Immediate family means:
a. spouse
b. children
Contributions
of such members shall be in the form of weekly, fortnightly or monthly
deposits and made by duly authorized agencies appointed by such members
for this purpose and approved by the Board of Directors.
(b) If
any member shall cease to qualify as in 4 (a), he shall forthwith
withdraw from the Society, and if he fails to do so, he may be
expelled. Provided always that the Board of Directors of the Society
shall have power to permit, in its absolute discretion, such persons to
retain their membership in this Society.
ADMISSION
(a) Application for membership shall be made on the prescribed form to
the Secretary and disposed of by the
Board. No application shall be
entertained except the applicant is recommended by a member.
(b)
Membership shall commence from the date of approval by the Board,
payment of a non-refundable entrance fee of Five Dollars ($5.00) and the
value of one (1) full share. All entrance fees shall be credited to the
Reserve Fund.
(c)
A copy
of the Bye-Laws shall be given free of charge to each person admitted to
membership.
JUNIOR MEMBERSHIP AND THEIR
RESPONSIBILITIES
Our bond for
membership extends to family members (spouse and children). We need to
inform you, our members of the clauses stated in the Co-operative
Society Act relating to junior members (children):-
10. (1) Subject
to subsection (2), in order to qualify for membership in a society other
than a junior co-operative society an individual must:
(a)
have
attained the age of sixteen years and:
(b)
reside
or occupy land or carry on business in the area in which the society
operates.
(2) Where the society is a Credit
Union, an individual who has not yet attained the age of sixteen years
may be admitted as a member and may enjoy all the rights of membership,
save that where such is required to execute any instrument or given any
acquittance he may, if he has attained the age of fourteen years,
execute such instrument and give such acquittance himself and if he
has not attained the age of fourteen years he may do so only by his
parent or guardian.
Item 10.
(2) Clearly indicates that
children above the age of fourteen (14) years must execute i.e. to sign
all relevant documents for any transactions to be done with the Credit
Union.
11. (1)
Subject to subsection (2) an
infant duly admitted as a member of a society shall enjoy all the rights
and be subject to all the liabilities of membership and notwithstanding
any law to the contrary all contracts entered into by him, as a member
shall be enforceable at law.
YOUR RIGHTS AS A MEMBER
·
To
receive prompt, courteous and efficient service
·
To
enjoy the privileges available to all members in good standing
YOUR RESPONSIBILITY AS A MEMBER OF THE ANSA
McAL GROUP EMPLOYEES CREDIT UNION
Specific
·
Save
what you can afford regularly.
·
Borrow
when the necessity arises and use the money wisely. Focus on thrift.
·
Attend
the Annual General Meeting and other meetings organized by the Credit
Union. Participate fully.
·
Honor
your obligation. Repay your loan according to your agreement. If you
cannot meet your repayment consult with management promptly.
·
Elect
the most suitable members to your Board and Committees.
·
Educate yourself in the operations of your Credit Union.
·
Promote the Credit Union, and encourage your co-workers to join.
·
Share
your ideas with management and make suggestions for the improvement of
the operations of the Society.
·
Give
some of your time and expertise in the service of the Credit Union.
THINGS TO REMEMBER
1.
Notify
the Credit Union of any change of address or transfer to another work
location.
2.
Your
obligation to repay your loan does not end with the signing of the
deduction authorization form. You must ensure that payments are being
deducted from your salary as agreed in your contract.
3.
You
can establish a savings account with the Credit Union as you would in a
bank. Make use of the deposit facility. This is the direction in which
Credit Unions worldwide are now moving.
4.
CONFIDENTIAL INFORMATION I.E. STATUS OF ACCOUNTS WILL NOT BE GIVEN ON
THE TELEPHONE.
5.
If you
would like some one to transact business on your behalf, give the person
your ID and a letter authorizing him/her to do so. He/she must also
present his/her personal ID Card, Drivers Permit etc.
6.
Bring
in your most recent payslip and relevant supporting documents whenever
you wish to transact a loan.
7.
Bring
along some form of identification when you come to transact
business. Use any one of the following:
NOMINATIONS
(a)
Appointment of Nominee
Every member
of the society shall in writing under his hand and attested by two
(2) witnesses and delivered to the office of the Society during his
life time, nominate any person or persons to whom or to whose credit the
shares or interest, may in the event of his death be paid or
transferred. A member shall not be entitled to appoint more than one
(1) nominee in respect of each share he holds
(b)
Payment to Nominee
On receiving
satisfactory proof of the death of the nominator, the Board shall pay to
the nominee or nominees, in the manner directed by the nomination or
nominations, the sum representing the full value of the shares and the
interest of the deceased member less any sum due to the Society.
(c)
Limit
Provided
further, the Society shall, unless prevented by order of a Court of
competent jurisdiction, pay to such nominee or nominees or in the
absence of such nominees to the legal personal representative, as the
case may be, a sum not exceeding Five Thousand Dollars ($5,000.00) due
to the deceased member from the Society. All other monies due to the
deceased member from the society shall fall into his estate.
(d)
Intestacy
If a member
dies intestate, without having made any nomination, the Board may
without a grant of Letter of Administration pay a sum not exceeding Five
Thousand Dollars ($5,000.00) to such persons or persons as may appear to
them, on sufficient evidence, to be entitled to receive the same within
one (1) year.
WITHDRAWAL OF SHARES
(a) Notwithstanding
anything to the contrary contained in these Bye-Laws, a member may
withdraw any portion of his share capital not pledged to the society in
respect of loans borrowed or endorsed by him or in respect of any other
indebtedness to the Society.
(b) The Board may require a member to give notice not exceeding six
(6) months of his intention to withdraw the whole or any part of his
shares.
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