1. A Share Account may be opened by completing a Membership Application and by
    providing appropriate identification documents.
  2. A minimum deposit of £1 is required to join thereafter the minimum balance of £5 is required.
  3. The minimum share deposit required by members is £2 weekly, £5 fortnightly, £10 monthly.
  4. Minimum share deposits required while repaying a loan will be discussed at loan application.
  5. It is your responsibility to inform us of any changes in your personal details.
  6. Evidence of personal changes such as name or address will be required.
  7. Members with outstanding loans may only withdraw shares if their value exceeds their loan
    balance and any future interest and the amount they withdraw will be limited to the surplus
    shares over loan, e.g. a member with an outstanding loan of £100 including interest and a
    share balance of £150 may withdraw up to £45.
  8. An Annual Dividend may be paid, gross of tax, on Share account, subject to surplus. Dividend
    rates will be decided at the Annual General Meeting.
  9. An annual service charge of £5 applies.
  10. Loan default will result in transfer of Shares and if required any other balances.
  11. We have the right to cancel membership if:- a) We believe you have fraudulently acquired membership/services from us b) You have not met the terms and conditions of membership