FAQ About ALHIKMAH CO-OPERATIVE SOCIETY

AL-HIKMAH CO-OPERATIVE SOCIETY

It creates the avenue for you to be financially disciplined as you save money for short-, medium-, and long-term plans as well as get interest-free loans from the society.

All staff members of HHH Foundation School

The Honourable Secretary of the society will be of help in this regard.

Compulsory and Voluntary

Cash loan and Property loan

It will be deducted from source i.e you get your salary minus your monthly contribution.

At the end of the financial year i.e August

Anytime except in July.

Yes

Aside monthly contributions and loan facility, you can partner with ALCS for investment and share both profit and loss.

Yes, if you so wish.

This is the amount you deposit into your account upon registration.

The minimum of #2,000.

#3,000.

Upon opening this window, staff are meant to indicate their items to be purchased by the cooperative society. They pay back in installments through deduction from source. Slots are available on first-come-first-served basis.

It is the primary contribution which is fixed in amount. You can only increase or decrease the amount at the end of the financial year. Monthly defaults make a member vulnerable to deregistration.

It is the secondary contribution that augments the compulsory one. It is flexible as you are allowed to skip month(s); increase or decrease the amount.

Through the pass book.

For now, no.

That makes you a defaulter. An automatic deregistration sets in after three consecutive defaults.