Membership Policy

Official Policy Content

1. Introduction

1.1 Membership policy for Winners Royal Varsha Credit Co-operative Society Limited incorporates the restriction on membership in multiple multi-state credit cooperative societies and the eligible states for membership.

2.1 Any person who is 18 years or older and is a resident of Rajasthan, Gujarat, Maharashtra, Tamil Nadu, Pondicherry, Kerala, Karnataka, or any state where the Society has license to operate may become a Member or a Nominal Member.
2.2 An individual can be a member of only one multi-state credit cooperative society.
2.3 Individuals engaged in illegal activities or with criminal records are not eligible for membership.
2.4 Members of the immediate family of an eligible individual, including spouses, children, parents, and siblings, are also eligible for membership.

3.1 Interested individuals must complete a membership application form, obtained from the Society office or website.
3.2 The completed application form must indicate whether the applicant wishes to become a Member or a Nominal Member.
3.3 The application must be accompanied by the appropriate membership fee: Rs. 10 for Membership or Rs. 50 for Nominal Membership.
3.4 The application must be approved by the Board of Directors before membership is granted. The Board of Directors may reject an application without providing a reason.

4.1 A one-time membership fee of Rs. 10 must be paid at the time of application for Membership.
4.2 A one-time membership fee of Rs. 50 must be paid at the time of application for Nominal Membership.
4.3 The membership fee is non-refundable and may be waived at the discretion of the Board of Directors.

5.1 Members must purchase a minimum number of shares, as determined by the Board of Directors.
5.2 Nominal Members are not required to purchase shares.
5.3 The purchase of shares represents ownership in the Co-operative and gives members a voice in the management and direction of the Society.
5.4 The price of shares is determined by the Board of Directors and may be amended from time to time. Members may purchase additional shares at any time.

6.1 Members must pay annual dues to maintain their membership in good standing.
6.2 The amount of annual dues will be determined by the Board of Directors and may be amended from time to time.
6.3 Members who do not pay their annual dues within 60 days of the due date may have their membership terminated.

7.1 Membership may be terminated for non-payment of annual dues, violation of the Co-operative bylaws, or other reasons as determined by the Board of Directors.
7.2 Nominal Membership may be terminated for violation of the Co-operative bylaws or other reasons as determined by the Board.
7.3 Members and Nominal Members will be notified in writing of any termination of their membership.
7.4 Terminated members are not entitled to any refund of membership fee or unearned annual dues and must immediately surrender membership card and any other Society property.

8.1 A terminated member may apply for reinstatement within one year of termination.
8.2 Reinstatement will be at the discretion of the Board of Directors and may be subject to payment of back dues, a reinstatement fee, and other conditions determined by the Board.

9.1 Members are responsible for keeping their contact information up-to-date with the Society.
9.2 Members must promptly notify changes to address, phone number, and email address.
9.3 Members are responsible for keeping their account with the Society in good standing.
9.4 Members must use their membership card only for intended transactions. Misuse may result in termination of membership.

10.1 Nominal Members are responsible for keeping their contact information up-to-date with the Society.
10.2 Nominal Members must promptly notify changes to address, phone number, and email address.
10.3 Nominal Members are responsible for ensuring that their account with the Society is in good standing.

11.1 The Board of Directors may make changes to this policy from time to time.
11.2 Members and Nominal Members will be notified of any changes to this policy and are responsible for keeping themselves informed of changes.
11.3 This policy is subject to change and members and nominal members are advised to periodically review it for updates.