ALHIKMAH CO-OPERATIVE SOCIETY

FAQ About ALHIKMAH CO-OPERATIVE SOCIETY

What does ALCS stand for?

AL-HIKMAH CO-OPERATIVE SOCIETY

Why do i need to join this 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.

Who is eligible to join ALCS?

All staff members of HHH Foundation School

What are the requirements to join ALCS?

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

What are the types of loan in ALCS?

Cash loan and Property loan

How do i pay for my monthly contribution?

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

When can i access my savings?

At the end of the financial year i.e August

When can i apply for a loan?

Anytime except in July.

What other packages do i stand to benefit from?

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

What is initial deposit?

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

How much is the initial deposit?

The minimum of #2,000.

What is soft market loan?

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.

What is compulsory contribution?

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.

What is voluntary contribution?

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.

Can i skip a month of contribution?

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

ALHIKMAH CO-OPERATIVE SOCIETY ALHIKMAH CO-OPERATIVE SOCIETY
10 days ago | asked by biplabgupta

Hlo sir

Hello

ALHIKMAH CO-OPERATIVE SOCIETY ALHIKMAH CO-OPERATIVE SOCIETY
10 days ago | asked by 0719527139

Hgr4678

Hello please how can i be of assistance

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