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Membership Benefits

Christmas Savings Club offers exclusive membership benefits that are designed to help individuals save money during the holiday season. . By joining our club, members can enjoy significant savings and make the most of their holiday shopping experience.

Christmas Savings Club

Terms and Conditions 

Registration

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  • Registration Fees $10 per shear

  • Durations of club 12months (Jan-Dec)

  • Founds distributions (on the first Sunday of December)

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Due payments

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  • Amount $50 per share per fortnight, you can, however, pay as much as you wish

  • Grace period for delay charge of non-due payment from 1 Jan to 31 March

  • Delay charge will be accumulated on accounts that are not paid by the end of each month. From April to October

  • Delay charge amount $5 per share

  • Members are allowed to drop shears if they are facing financial difficulties (between

  • April and September)

Terms and Conditions

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  • A $1000 loan will accumulate $100 interest (the member gets half of the interest back at the end of the year, and the other half everyone will share, including the member who took the loan). Any amount over $1000 or below a $1000 interest will be added accordingly

  • Loan is compulsory; however, members don't have to take a loan if they don’t want to, but they have to just pay their interest based on the number of shares they have

  • Loan will be granted based on due payments

  • Members are allowed to invite non-members to take a loan from the club; however, members will have to be their guarantor, provided that the member is not owing the club

  • Loan repayment term: three months, regardless of the amount (after three months there will be 10 per cent interest added on the outstanding loan)

  • How loan interest is calculated (one share is $50 so interest will be $50, $100 will be $100 and so on

Loan Terms and Conditions

Interest will be deducted from dubs paid if you did not credit from the club and/or

owe monies to the club as per the membership Terms and Conditions;

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  • Members who paid only 1 due payment for the entire year and did not complete their membership payment, or were credited by the club, will receive no interest.

  • Interest is only payable to members with full dues payments

  • Interests will be added as per shears

Other terms and conditions 
 

 

  • All members will be provided with the club account details for all payments

  •  Members will be provided with a personal reference number to be used for all payments (this makes it easy for Admin to identify the source of payments)

  • Please ensure the correct personal reference number is use went making payments at all time

  • Please note that there is no cash payment; it all has to be done electronically

  • Please do not transfer any payments to the admin’s personal account. These funds cannot be transferred on the member's behalf. To avoid confusions

  • Please use the details provided to you at the time of registration

  • Please be aware that December payments are due in November

  • Members should provide admin by November 30th with account details for funds to be transferred to on the first Sunday of December

  • If a member decides not to continue with the club after making some payments, they will have to wait till the end of the year to receive their money

  • A child under the age of 18 that wish to join the club will have to go through their parent

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