- MEMBERSHIP TYPE AND CONDITION
- MEMBERSHIP: The membership of the Society shall be open to:
- 1. Any employee of Lagos State Civil/Public Service or any other Government service
- 2. Any member of the public that applied and is admitted in line with the provisions of the bye law
- 3. Members are categorise under the following captions
- Categories of Members: Members are categorise under the following:
- a.Oracle Member – members whose monthly contribution is deducted by Oracle;
- b.Cash Oracle Members – Members who have oracle number but make monthly contribution via cash;
- c.External Members – this are members who are not civil servants an thus pay cash for monthly contribution
- QUALIFICATION FOR MEMBERSHIP
- Every member of the Society must be:
- a. Of good character.
- b. Of not less than 18 years of age except in the case of an heir of a deceased member, and where the Executive Committee grants exemption from this qualification.
- c. A salary earner in the employment of Lagos State Government or any other Government Service.
- d. Any other category of persons approved by the Executive Committee as qualified to be members of the society
- ADMISSION:
- * Application for membership shall be made by obtaining a Membership Form, which on completion shall be submitted to the office of the society.
- * All application for membership shall be approved by the Executive Committee. Every member may on admission be required to sign the Membership Card and Personal Ledger.
- * A member of this society shall not seek membership of another society whose primary objectives are the same.
- * Every application for membership shall be accompanied with a non-refundable entrance fee of 1000 naira or any such amount as might be determined from time to time by the Executive Committee and specify among other things, the minimum monthly savings to be made by the applicant.
- Declaration of Obligation: Every member, on joining the Society, shall render to the management, a true and complete statement of his indebtedness to any Co-operative society.
- TERMINATION/WITHDRAWAL OF MEMBERSHIP
- Membership shall be terminated by:
- 1. Death;
- 2. Permanent instability;
- 3. Expulsion
- 4. Withdrawal shall be by two Month’s Notice conveyed in writing to the Executive Committee provided that the withdrawing member is neither indebted to the Society nor surety for an unpaid debt; and
- 5. Shall forfeit a sum equal to 5% of his savings balance as service charge to the Co-Operative Society.
- RE-ADMISSION INTO MEMBERSHIP:
- - Any past member may re-apply for membership after a reasonable interval of not less than 12 calendar months from date of withdrawal from the society except if granted a waiver by the Executive Committee.
- - Any member seeking readmission will go through the normal screening process
- EXPULSION:
- A member may be expelled for:
- 1. Repeated failure to make thrift savings for a period three (3) consecutive months;
- 2,Repeated failure to make up for debts due from him/her to the Society over a reasonable period of time as determined by the Executive Committee;
- 3. Conviction on a criminal offence involving dishonesty like fraud, financial impropriety etc; and
- 4. Misconduct or other acts contrary to the stated objects of the Society or to the interests of the Co-operative Society.
- MEMBERSHIP REGISTER
- Every member, on admission and on payment of the appropriate entrance fees shall sign or thumbprint the membership and attendance register as an evidence of membership. By this he or she acquires the right of full participation in the affairs of the society and assumes all obligations relating thereto.
- MEMBERSHIP REGISTER
NOTES: When membership terminates owing to death, permanent instability or expulsion, the society shall pay as in the former, to the nominee/beneficiary, or where none has been nominated, to the legal representative and/or in the latter, to the expelled member, the sum of his credit less any sum due to the society.