1. A Share Account may be opened by completing a Membership Application Form 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. 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.
  4. An Annual Dividend may be paid, gross of tax, on Share account, subject to surplus. Dividend
    rates will be decided at the AGM.
  5. An annual service charge of £5 applies.
  6. Default in loan payments could result in transfer of Shares.