Membership
HOW DOES MEMBERSHIP WORK ?
Membership of CMAL Employees’ Multipurpose Society Ltd. is compulsory to avail any loan type.To become a member, a person has to apply for at least one share of the Society having face value of ₹100.This gives the right to participate in the AGM (Annual General Meeting) and various other rights.Other than Share a person has to deposit ₹100 as Admission Fees and ₹300 as Building Fund for new membership.A member has to maintain Thrift Fund as long as he/she continues the membership by depositing a minimum of ₹500 per month,against which an interest will be given yearly.
WHAT IS THE ELIGIBILITY FOR MEMBERSHIP ?
Any person, who has attained the age of 18 years and less than equal to 55 years,and the person is working in Eastern Coalfields Limited and working in CMAL Employees’ Co-operative Multipurpose Society Ltd. is capable of having a membership of the Society.
As per West Bengal Co-operative Societies Rules 2011, Rule 107(ii) “no person shall be entitled to membership of any credit society even with limited liability if he is a member of or is indebted to, any other such society until he has obtained in writing the consent of the society of which he is already a member”. Recommendation of the Concerned Delegate/Director is mandatory in every Application for Membership.
HOW TO JOIN AS A MEMBER ?
The application for membership of the society will have to be submitted by the applicant at Society’s office premises in the prescribed form, and photocopies of ECL ID card and Payslip of last month along with originals , including ₹505/-(₹100 for one Share,₹100 as Admission Fee ,₹300 as Building Fund &₹5 for membership form), compulsorily. Upon fulfilment of eligibility norms, the applicant will be allotted one share of ₹100/-. Member can surely apply for more shares, which can be allotted , subject to approval of the Society.
