10 Credit Union Annual Report 2023PeopleMembership GrowthAs of 31 July 2023, the Credit Union membership grew by 1,539(2022: 1,508). Total members stood at 18,736 (2022: 17,630), an increaseof 6.3%.New members for the 昀椀nancial year were as follows:Credit Union Rules (2023 Revision)We are implementing the revised Rules for new categoriesunder membership quali昀椀cation based on a phased approach.We expect to commence onboarding as follows:Membership Quali昀椀cation65%Family membersoutside the Bond35%Employees withinthe Bond•••Application for membership••20%Youth accounts50%Members between theages of 18 - 40Extended family-ImmediatelyEmployees of private healthcare facilities - January 2024Employees of private educational facilities - April 2024Entrance fee of $50- immediatelySubscription for permanent shares of $100 for new membersimmediatelyIn good standingMember in good standing has been de昀椀ned as: “a member whoseaccounts are not in arrears and not dormant and who is compliantwith all the policies and procedures of the Credit Union, includingthe Security Policy, and is therefore, eligible to vote, speak atgeneral meetings of members, and earn dividends on shares.”We intend to ensure that members are given timelynotice to bring their accounts into good standing as necessary.53%Female47%Male
It seems that your browser's pop-up blocker has prevented us from opening a new window/tab. Please click the button below to open the link manually.