1.4 OPERATING PRINCIPLES

Out of commitment and concern for the members’ welfare, the Society has over the years adopted several operating principles that guide it in its relationship with its members. These practices are in the line with core care operative values that are shared and nurtured by the Co-operative Movement worldwide. Our operating principles include among others the following: -

(i) Open and Voluntary Membership

This means the Society’s doors for membership are open to those who wish to join it as long as they are within the accepted common bond, willing to practice the co-operative philosophy and adhere to minimum requirements for membership.

Members are also free to withdraw their membership and their savings when they so desire as soon as they have completed their obligations with the Society.

(ii) Democratic Control

The Society members enjoy equal rights to vote and participate in decisions affecting the Society. A member is valued for what he is and not what he owns in terms of material possession. Therefore, regardless of the amount of savings shares, which a member may have in the Society, he has the right to only one vote in a general meeting.
This maintains all the members on the same level in the decision making process of the Society.

(iii) Non – discrimination

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The spirit that reigns in our Society is one of unity and harmony. The Society is neutral in political, religious, race, sex and nationality. The Society thus has profound respect for the beliefs of others.

(iv) Limited Interest on Capital

The Society pursues the goal of offering services to its members. The intention of realizing profit is thus not among its prime objectives. For this reason interest paid on savings and shares is limited.

(v) Proportional Distribution of Surplus

At the end of every year, once the Society has paid its expenses, set aside reserves and paid dividends on the savings of members the remaining earning are redistributed back to the members in proportion to their level of participation during the year in question.

(vi) Co – operative Education

Afya Co – operative firmly believes that its road to success is founded on a well-informed membership. The Society thus pursues a policy where it ensures that the general membership is fully educated on among others the Co-operative philosophy.

(vii) Co-operation among Co-operatives

The Society recognizes, more than in the past, the necessity of strengthening its support with other affiliate co-operative organizations. This is based on the value of solidarity and the principle of co-operation among co-operatives. By establishing strong bonds of co-operation with other co-operatives, the Society is, and has been able to achieve more than it could as a single entity. The Society is thus by and large actively involved in the promotion of co-operative identity.

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