Benefits ~ Death & Welfare Benefit Scheme (DWS), Student Award Benefit, Marriage Benefit, Relief Benefit and Veteran Member Benefit

Under this scheme, the Death Benefit payout is based only on the length of being a full-fledged member, (when a person has RM1,000 in their Share Capital).

We have paid out RM2,415,716 since we started the Death Benefit Scheme in 2002. In 2018 alone, we paid-out RM201,000 to 49 nominees of deceased members.

This year we paid out Student Awards amounting to RM41,455, Marriage Benefits amounting to RM12,000 and Relief & Veteran Member Benefits amounting to RM38,748 to eligible members.

It is our requirement for the recipient to be present personally at the regional meeting to collect the benefit. In the event, the recipient is unable to attend the meeting, the said benefit amount will be credited/added to the recipient's Subscription account. The Co-operative will treat the withdrawal of the said amount as "Part Withdrawal" and subject to nominal processing fee.

Bonus Share Issuance, Payment and DWS deduction

Since our Share Capital has dropped to RM47,475,513 from our targeted amount of RM50 million, we are proposing that the Bonus Share issuance to be credited to members' Share Capital account..