Who can Join?
A person of either gender shall be eligible for membership who possesses all of the following qualifications:-
- Is within the field of membership consisting of the following common bond clients/employees of MASTERWAYS PROPERTIES LTD and its associated companies or branches and/or employees of this Society.
- Provided the past employees of the aforementioned institutions who had earlier been employed by the Society and other persons outside employment of those institutions, shall when applying for membership in the Society, be introduced by two clients/employees of the respective institutions.
Qualifications for Membership
A person of either sex shall be eligible for membership who possesses all the following qualifications:
- Is within the field of membership consisting of the following common bond:-Employees and client of MASTERWAYS PROPERTIES LTD – NAIROBI and its associated companies or branches and/or employees of this Society.
- Is not less than eighteen years of age.
- Is of good character and is of sound mind.
- Is resident within, or occupies land within the Society’s area of operation.
- Is in employment or in business within the Society’s area of operation.
- Is not a member of any other Savings and credit Co-operative Society carrying out the same business.
- Is an ex- employee /client of Masterways properties ltd or its affiliates.
Every applicant for membership shall complete an “Application for Membership” form. This form may be drawn so as to show all the information required for the purpose of a register of members. The completed form, when filed in serial order, shall constitute the register of members as required under the rules.
Admission into Membership
An applicant shall be admitted to membership on being accepted by majority of the Management Board members but shall not qualify for the rights and privileges of membership until he/she has paid an Entrance Fee of Kshs. 3500/= which may be revised from time to time under a resolution of a General Meeting and paid in full for at least 1100 shares of Kshs. 20/= each and paid Kshs. 500/= for a copy of these By-laws.