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MONTHLY BULLETIN - February 2010 - For Members Only

Members are requested to take note of the following procedures for withdrawal of dividends.

1. Do not submit the dividend withdrawal form if you have already done so the previous years as your withdrawal option has already been registered in the computer system of the Co-operative.

2. Those who have not applied to withdraw their dividends previously but wish to do so now are required to complete the dividend withdrawal forms and submit them to the office for registration.

3. Please inform the Co-operative in writing of any change in your bank account number to enable us to update your record

4. Listed below are the names of the FOUR banks for which the Co-operative has made arrangement for direct method of paying dividends..

a. CIMB (formerly Southern Bank Berhad & Bumiputra Commerce Bank Berhad)
b. Public Bank Berhad
c. Maybank
d. Am Bank

The Office will be closed for the Chinese New Year holidays

    from 15 February 2010 till 17 February 2010 and
    and on 22February 2010

Members intending to increase their subscriptions may do so now. There is a prescribed form for completion and the last day for submission of the form is on 30 April 2010. The maximum subscription allowable is RM150.00 per month.

Retired members who apply for RM10,000/- loan are required to make arrangement to pay their loan instalments by standing orders from the respective banks where they draw their monthly pensions.

Your Co-opperative is aware that members taking these loans will incur additional payments towards the monthly standing order charges imposed by the banks.

The Board at its meeting held on 12 October 2009 had decided that the co-operative will absorb the charges and return the money to members as rebates.

This will help ease the financial burden of the retired members concerned.

To qualify for the full rebates, members will have to produce evidence of the exact amount charged by their respective banks and the money will then be credited into their personal saving accounts where they can withdraw them anytime during office hours.

This exercise is effective from 1 January 2010.