Who can join the CoopCongo Cooperative?
For now, CoopCongo is operating at the first degree of the community bond’s level, i.e. with Congolese community members and their partners. You must be over 18 years old and be able to lawfully fulfill your financial obligations and contributions to the cooperative. Children under 18 years old are represented by their guardians.
Therefore the following are required for the CoopCongo membership :
- Be any Congolese descent in line with conditions set by CoopCongo Board of Directors.
- Be any group of people or organization with a majority of Congolese descents in line with conditions set by the CoopCongo Board of Directors.
- Submit your membership application including all the required information and photo as indicated.
- Pay a one-time non-refundable membership admission fee as determined by the board from time to time.
- Purchase a minimum of two hundred and forty (240) shares at the indicated price each upon joining the Cooperative; Owning shares makes you a member “shareholder” of CoopCongo.
- Contribute the minimum required amount as determined by the board from time to time, to your Main Savings Account every time; the more you contribute, the higher the amount you can borrow through the Cooperative.
A person/organisation that wishes to become a member of the Cooperative may apply in writing through a membership application form. A person/organisation’s membership shall come in effect from the date of the notification of the Cooperative’s decision in writing.
Any admitted member will be given the required access towards information reserved to members which can be accessed HERE. This access includes the code of Conduct, various members meetings, members Contribution lists, the Budget and Expenses accounts, Annual reports and access to members discussions.
Members Contributions :
- Membership Admission Fee (Once Off): R 100
- Annual Membership contribution: R 1200 per annum. This can only be paid either Once Off (R1200) or monthly (R 100) or quarterly (R 300).
- Shares Participation: Members MUST buy shares at prices determined by members during the General Assembly or by the Board of CoopCongo. Please, select your appropriate amount of shares based on the minimum specified in the Requirements Section above.
STEPS TO BECOME A MEMBER
- Please, Fill the Applicaton form ONLINE, or Download the membership form: English | French
- Complete the form and sign it,
- Pay the membership admission fee (once off)
- Pay the Membership Annual Fee which will be paid every Year as decided in the Annual general meeting (Pay per month, term, semester or full year).
- Decide on the number of shares you will buy from the Cooperative as a member and start paying for them.
All payments are preferably made to our Bank Account or to our Treasurer during meetings.
The CoopCongo Cooperative’s Bank Details are :
- Bank Account Name: CoopCongo Cooperative
- Bank Name: First National Bank (FNB)
- Branch Name: Centurion
- Branch code: 261550
- Account Number: 62675751955
- Swift Code (International Transfer): FIRNZAJJ
- Return the form to CoopCongo’s office in one of the following ways:
- By mail to CoopCongo, PO Box 13 526 The Tramshed 0126, Pretoria, OR
- By hand to our offices (Please, check our monthly updates ) OR
- By Email you can send a scanned copy to secretariat@coopcongo.com
Your application will be considered by the Management Committee for approval within 30 days. Please, you can read our Constitution while you wait.
While this whole process is being completed you can be added to our mailing list for free, by Clicking here or sending your request to the email address to members@coopcongo.com
Members’ Benefits :
Intangible Benefits:
- Sense of Belonging, Pride and Community well-being.
- Community participation and mutual assistance.
- Community development and Advancement.
- Community based social safety network.
- Ripple effects from activities and projects
Tangible Benefits:
- The Cooperative itself.
- Member’s Equity (Shares) in CoopCongo Cooperative.
- Members Programmes and Events ( To be decided at AGM, the Board or by Management Team )
- Members Services in line with community needs: Savings Plans, Loans Plans, Fixed Deposits, Medical Support (Not Medical Aid), Funeral Support (Not Funeral Insurance), Education Loans, Emergency Loans, Electronic Bank Cards, other beneficial products as suggested by members, etc.…
- Patronage Fee : the more a member helps the cooperative to generate revenues, the more the member earns.
- Dividends : Each member needs tow own shares in order to benefit equivalence through Dividends every year.
