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Unlike banks, (ENTER YOUR ORGANIZATION’S NAME HERE) has a unique approach. We are a financial cooperative owned and operated by its membersit clients. We are founded on democratic and cooperative principles. Members Clients have rights to vote and to participate in (ENTER YOUR ORGANIZATION’S NAME HERE) profit sharing. And as a memberclient-owned organization, (ENTER YOUR ORGANIZATION’S NAME HERE) returns members’ clients’ profits portion to their accounts.
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An applicant shall be admitted to membership upon receipt of completed Application for Membership form and upon payment of an entrance fee of XXXXX.
Upon admission, the member’s client’s name shall be entered in the membership register and a membership number issued. The membership number is issued by the Mifos system and becomes the member’s client’s main account number.
The member must client must sign or make a thumb mark in the register of members in clients in the presence of two members clients of the membership Committee to indicate his/her acceptance of the by-laws of the society.
The Committee, subject to confirmation, shall admit members clients by the next general meeting.
Shares of MembersClients
Every member shall client shall hold at least XXXX shares of XXXXX to have full voting rights in the organization. Members Clients may transfer their shares to another registered member for client for a fee of XXXX.