Terms of Use
Last updated: 2026
Welcome to Mutual Growth Co-operative. By accessing your member account or using our services, you agree to abide by these Terms of Use.
1. Account Security
You are responsible for maintaining the confidentiality of your account credentials. Because we use one-time verification codes sent to your email, you must secure access to your email inbox. You agree to notify the admin immediately if you suspect any unauthorized access to your account.
2. Deposits & Withdrawals
All deposits made into the co-operative require administrative approval before they reflect in your available balance. Withdrawals are processed according to the available funds in your savings and are subject to approval. The co-operative aims to process transactions promptly, but exact clearing times may vary based on banking partners.
3. Shares and Dividends
Members may purchase share units to invest in the co-operative. Share purchases are recorded as pending until payment is verified and approved by the admin. Dividends are declared periodically based on co-operative performance and distributed proportionally to the number of approved shares held by each member.
4. Loan Applications and Repayment
Loan eligibility is determined by your savings history, current balance, and co-operative policies. By accepting a loan, you agree to the specified interest rate and repayment tenure. Defaulting on loan repayments may result in penalties, deduction from your savings balance, or suspension of member privileges.
5. Termination of Membership
The co-operative reserves the right to suspend or terminate membership accounts that violate these terms, engage in fraudulent activities, or persistently default on obligations. Upon termination, any outstanding liabilities will be deducted from your savings before the remaining balance is disbursed.
6. Changes to Terms
We may update these terms from time to time to reflect operational changes or legal requirements. Continued use of the platform after updates constitutes acceptance of the new terms.