Member Profit Sharing Program

It Pays To Be A Soil Research Institute Co-operative Credit Union Member

Our Member Profit Sharing Program is one of the benefits of being a Soil Research Institute Co-operative Credit Union member.  As a member you are entitled to share in the success of your Credit Union by receiving allocations of surplus earning based on your patronage.  The more business you have with us, the higher your allocations will be.

Membership:

Applications for member shall be accepted through our website or in writing on the prescribed at any of our offices

Applicants must have a valid ID card, and a passport picture

• Membership applicatoin has been approved by the committee of management
• The minimum share as determined is paid.

Shareholdings:

Each individual member shall subscribe to a minimum share capital of GHC 300.00 which shall be reviewed from time to time as per the economic conditions in the country .

Members are allowed to withdraw their share only on account of closure, where the intended member shall be required to give a 90 days written notice.

Memeber with more than the minimum shares can be allowed to withdraw the excess after giving the 90 days withdrawal notice.

Purpose of Shares:

• To become a member and part owner of the credit union. This gives the right to participate in the decision making process of the union.
• To build a sound capital base for the credit union

Dividend:

Member may receive dividend in their shares at the end of every financial year, dividend shall be decided and approved at the Annual General Meeting in accordance with the society's bye-law. As a measure to grow the shares of members, dividend paid is credited to their respective shares account.

Liability of Members:

The liability of members share be limited to their ordinary shareholdeings with the society

Accounting Period:

The financial year of Soil Research Institute Co-operative Credit Union begins on the 1st of January and ends at 31st December.