This Club is opened to children of Portmore Missionary Church and Preparatory School.
1. Member must be student of Portmore Missionary Prep. School or such school as will be determined from time to time by the Committee of Management of the PMC Industrial & Provident Society.
2. Students can open an account with $10.00 plus a cost of $5.00 for passbook.
3. A Savings Day will be named, when all savings will be collected and the passbook updated and returned to the student by the following day.
4. Interest at the rate of 8% will be paid at the end of December 2002 based on the monthly minimum balance. The rate is subject to review annually by the Management Committee.
5. Parents/Guardian will be made joint holder of the account. They may borrow on behalf of their children for educational purposes.
6. Student may remain a member after graduating from this school.
7. Students will not be able to borrow on their own until they attain the age of 18 years.
8. Students may withdraw upon written request of the Parent/Guardian
9. Students shall not have voting rights10.
After age 12, students may purchase shares and transfer funds to Regular account, allowing such member to have voting rights
A? An incentive is to be given at the end of each year
Posted by pmcja
at 3:48 PM EST
