Eligibility for Membership (Co-Operatives)


Unlike banks, (ENTER YOUR ORGANIZATION’S NAME HERE) has a unique approach.  We are a financial cooperative owned and operated by it clients. We are founded on democratic and cooperative principles. Clients have rights to vote and to participate in (ENTER YOUR ORGANIZATION’S NAME HERE) profit sharing. And as a client-owned organization, (ENTER YOUR ORGANIZATION’S NAME HERE) returns clients’ profits portion to their accounts.

To quality for membership in (ENTER YOUR ORGANIZATION’S NAME HERE), a person must possess the following:


Admission into Membership

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 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 client’s main account number.

The client must sign or make a thumb mark in the register of clients in the presence of two clients of the membership Committee to indicate his/her acceptance of the by-laws of the society.

The Committee, subject to confirmation, shall admit clients by the next general meeting.

Shares of Clients

Every client shall hold at least XXXX shares of XXXXX to have full voting rights in the organization.  Clients may transfer their shares to another registered client for a fee of XXXX.