Qualifications for membership

(1) A person, or business other than a cooperative, qualifies for membership of a credit union of the person or the business’ choice if that person or business– (a) has some common bond with the other members of the credit union; and (b) is not an undischarged bankrupt. (2) Except with the sanction of the Registrar, and upon the agreement of the Credit Union involved, no person shall be a member of more than one Credit Union and he must disclose this affiliation in his written application to the Credit Union. (3) The Board shall cause each applicant for membership to be notified in writing that his application has been approved or disapproved. (4) A person under the age of eighteen years may become a member of a credit union but shall not be capable of voting, or being elected as a director or committee member. (5) Any contract entered into with a credit union by a minor, whether as principal or surety, shall be enforceable in law or in equity against such minor notwithstanding his infancy. (6) Subject to the approval of the Registrar a cooperative may become a member of a credit union. (7) A purchaser under any execution or any other person succeeding by operation of law or otherwise to the shares or interest of another member in a credit union shall not be entitled to membership by virtue only of such purchase or transfer. 26 Credit Unions Act (8) Subject to sub-section 4, a person, including a minor, who is duly admitted to membership shall enjoy all the rights of that credit union and shall be subject to all the liabilities of membership and any other liabilities existing in law; and any contracts made by such minor as a member of such credit union shall be enforceable at law. (9) Without prejudice to anything contained in this section, provision may be made in the by-laws of a credit union respecting membership. etc.