Membership
Know exactly what you pay, what you own and how you benefit
Every rand a member pays is classified clearly — so there's never confusion between a fee, a contribution and a share.
Plain-language terms
The words we use, and what they mean
- Membership fee
- A fee payable for becoming or remaining a member according to the Constitution.
- Member contribution
- Money contributed to support the activities, operations, capital requirements or approved programmes of the cooperative.
- Membership shares
- Shares purchased and held by members in the cooperative, recorded in the share register with a certificate.
- Special project contribution
- Money contributed toward a specifically approved cooperative project, where permitted.
- Cooperative revenue
- Money earned by the cooperative through its business activities.
- Cooperative capital
- Capital belonging to the cooperative and used for its approved purposes.
- Surplus
- What remains after income, expenses, liabilities, provisions, reserves and other required allocations are accounted for.
Our legal position
What Pro-Medical is not
- A bank
- A savings institution
- A deposit-taking institution
- A CFI
- A cooperative bank
- An investment fund
- A provider of bank accounts
Pro-Medical is a cooperative, not a bank.
We do not accept deposits or operate savings accounts, and we are not a Cooperative Financial Institution (CFI). Members pay membership fees, buy membership shares and make approved contributions to a cooperative they collectively own.
Members do not receive a savings balance or a deposit account. Instead, each member sees a clear record of fees paid, shares held, contributions made, and any approved allocations received.
Member benefits
What membership can open up
Benefits depend on the cooperative's performance, the Constitution and member resolutions.
- 01
Cooperative surplus allocations
- 02
Business opportunities
- 03
Procurement opportunities
- 04
Employment opportunities
- 05
Preferential member pricing
- 06
Collective purchasing
- 07
Training
- 08
Business development
- 09
Networking
- 10
Cooperative services
- 11
Access to cooperative-owned facilities
- 12
Project participation