Subscriptions Savings is compulsory for all members. A fixed sum
of monthly contribution is received by the Society through deductions
from salary.
The minimum amount of contribution shall be as follows:
Member's gross monthly Salary
Minimum monthly Subscription
Above $2,000/-
$40/-
Between $1,500/- and $2,000/-
$30/-
Between $1,000/- and $1,500/-
$20/-
Below $1,000/-
$10/-
The Society pays dividends annually on Subscription Account.
The
rate of dividend declared annually by the Society falls between 2% to
5% on the amount of subscription standing to the credit of members on
the previous 31st December. We hope to maintain the same rate for the
future.
The
amount of dividends may either be withdrawn by the member or may be
retained with the Society in which case such amount shall be credited
into the member's Specific Deposit Savings Account.
Members are not allowed to withdraw the subscription during the membership.
However,
upon cessation of membership e.g. resignation, retirement etc, the
entire amount remaining in the member's subscription account shall be
refunded.
Members, who wish to change their current monthly subscription contribution, please click here for Download a Change of Deductions Form and mail it to us.
Members, who wish to change their current monthly subscription contribution, please click here for Online Change of Deductions Form.
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