FRIENDS ALIKE SOCIAL CLUB

PO Box 59509, Karen Park, 0118 079 878 1426 friendsalikeclub@gmail.com

SAVING PLAN
1) Members will save together as a club and share according to how much they put in at the end of a year or term as agreed by members. 2) Minimum saving by each member per month for is R150 and it starts end of January 2013 3) The saving to be compulsory. 4) A separate bank account to be maintained for the savings. 5) A manager to be appointed to take care of the savings and give reports at meetings. 6) Saving plan manager to be part of the club committee. 7) Deposits to be made beginning of each month to the club saving plan account and members who fail to make deposits must pay cash at the meeting. 8) Savings to be shared end of the year, term or as agreed by members. 9) If the savings are shared end of the year, 2 dates will be set for payouts, one beginning of December holidays and one first weeks of January. 10) For security reasons payouts will not be done cash, members to provide the club with their banking details before the payout dates. 11) All debts owed to the club will be deducted from the savings before any payout is made. 12) If any member of the club chooses to resign, the following procedure to be followed. a) Any fees that cannot be settled by the member will be deducted from his savings. b) Member to give the club 30 days notice for payment of his savings. 13) On Dissolution of Friends Alike all Savings to be paid back to members who invested it.

January 2013

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