FOR a secureD future
FOR a secureD future
Savings are the foundation of The Yellow Machine Cooperative and Multipurpose Society. Through regular monthly contributions, members build financial security, create opportunities for future investments, and gain access to various Cooperative services and benefits.
Our savings programme is designed to encourage financial discipline while helping members achieve their short-term and long-term financial goals.
Consistent savings create opportunities for financial growth, investment, and access to Cooperative services. Every contribution strengthens both the individual member and the Cooperative as a whole.
Start saving with us today and take another step towards achieving your financial goals.
Members contribute to their savings through regular monthly deductions.
For DHL employees, savings contributions are deducted directly from payroll.
For Partners, savings contributions are deducted from commissions or through other approved payment methods.
These contributions accumulate in the member's savings account and form part of the Cooperative's collective resources used to support member services and investment initiatives.
By maintaining regular savings, members enjoy:
A secure and structured savings platform.
Access to Cooperative loan and credit facilities.
Opportunities to participate in Cooperative investment programmes.
Eligibility for dividends in accordance with Cooperative policies and bye-law.
Long-term wealth accumulation.
Greater financial stability and security.
Mandatory Savings represent the regular monthly savings contribution made by members through approved deduction channels.
These savings form the foundation of a member's account and are used in determining eligibility for various Cooperative services and facilities.
Members may choose to make additional savings contributions beyond their regular monthly savings amount.
Additional Savings form part of the member's total savings balance and are treated as savings within the Cooperative.
Forty percent (40%) of the total dividend declared is allocated based on members' savings at the end of the Financial year.
This portion rewards members who consistently save with the Cooperative and helps encourage a strong savings culture.
Eligibility
Only members with a savings balance as at the end of the financial year under review are eligible for this portion.A member who withdraws his/her savings (i.e. close his/her account) before the end of the financial year shall not be entitled to dividend.
Calculation Method
Each member receives a share based on the proportion of their savings to the total savings of all eligible members at the end of the financial year.
Formula
Member's Savings Dividend = (Member's Total Savings ÷ Total Savings of All Eligible Members) × Savings Dividend Pool