Rights and obligations of members of a CFI

    By virtue of being a member of a CFI, members have rights and obligations. It is important for every member to be well-informed of these rights and  obligations, in order to be able to exercise them.

    What are the obligations of a member

    1. To attend and participate in general meetings of the CFI
    2. To vote for capable persons to be CFI directors
    3. To let the CFI know when member contact details change
    4. To check statements and report queries therein to CFI
    5. To inform the CFI if the member has difficulties in repaying loan and discuss alternative repayment option
    6. To protect the good name of the CFI
    7. To help attract new members by promoting the CFI
    8. To own the minimum amount of shares required
    9. To take a keen interest in the performance of the CFI
    10. To educate oneself about the co-operative and the governance structure of the co-op
    11. To use the products of the CFI and save regularly and repay loans as per agreement

    A Member of the CFI has the right to

    1. To nominate or be nominated and elected as a director or committee member
    2. To attend, propose items and take part in meetings.
    3. To vote at Annual General Meetings.
    4. Receive surplus as determined by the constitution via dividend or patronage proportion.
    5. To have access to the constitution and the financial statements
    6. Apply for the use of all its products and services
    7. Own shares and to save
    8. To withdraw savings or make loans if they satisfy the conditions
    9. Education on how the co-op works and their role in it

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