- Persons who join with less than the required amount are considered as depositors. Their monies are placed in this account until the requirement for membership has been met.
- Depositors do not have equal rights and access to the benefits and services offered until full membership is acquired.
- Regular Shares must be paid regularly (e.g. weekly, fortnightly or monthly) to ensure that the account remains active.
- Interest will be paid annually at a rate determined by the Board of Directors.
- Withdrawals from Regular Shares are not encouraged, however, if it becomes absolutely necessary to withdraw these shares, the member must give one (1) month’s notice in writing.
- A convenient facility is available where a member can make lump sum payments to his/her Standing Order Deposit Account. With the member’s approval an agreed amount is transferred to his/her shares monthly, thus ensuring that payments are
- Members can arrange for a monthly direct deduction from their salary to be paid to Regular Shares.
- If it is absolutely necessary for a member to terminate his or her membership with GECCU, he or she must repay/settle any outstanding loans.