Part of this constitution has been drafted and published by the National Stokvel Association of South Africa (NASASA) as a set of fundamental principles according to which a Social club or any community-based deposit-taking organization is governed. Together, these principles define the Social club group premise. This document is a set of guidelines that a Social club group may use to create its own constitution.

NASASA is a self-regulatory organization authorized by the South African Reserve Bank in terms of Government Notice 404 in Gazette 35368 25 May 2012.

  1. Aims and Objectives
  • To promote personal and group development.
  • To pool funds with a common purpose and outcome.

The aim of the Social club is to pool funds for investment to be shared equally to all registered members

  1. Membership
  • Members will supply the Social club with their personal details (ID document copy, Proof of residence (Not older than 3 Months), Proof of bank account or Bank statement. (To be sent to
  • Members must abide by the Social club's constitution.

Social club Executive Committee

The executive committee will consist of the following positions:

  1. Chairperson, whose responsibilities are:
  • To lead and prepare the agenda for meetings.
  • Make sure rules are followed.
  • Approve money withdrawal/Transfers with other executive members.
  • Explore opportunities for enhancing the group’s practices.
  1. Secretary, whose responsibilities are:
  • Keep an accurate record of the group’s activities, namely minutes, correspondence and membership register.
  • Maintain communication to make sure all members are informed of all activities of the group.
  • Have signing powers with the chairperson and treasurer.


  1. Treasurer, whose responsibilities are:
  • Keep accurate account of all the group’s finances and present copies of all the deposit slips.
  • Collect deposit slips/Proof of payment after every meeting.
  • Have signing powers with the chairperson and the secretary.

Change of Leadership

  • Members can change the leadership structure if there is a majority vote.
  • Changes in the leadership structure must be announced 30 days prior to the meeting.


  • Each member shall have one vote.
  • A resolution can be passed by simple majority (one more than half of the members present at a meeting).
  • A resolution can only be passed in a meeting where at least half of the Social club members are present in person.
  • Shall be by a text message to one of the admins or email to (All responses will be displayed on the Website "Latest news" page.


  • Online meetings will be held weekly on Microsoft teams platform which is available for free online or via app (Download Teams app for android or Download Microsoft Teams for IOS) Details will be sent to registered members only.
  • All members will be required to attend meetings on a weekly basis, failure to attend will result in a member being fined R30
  • Meetings platform may be changed with sufficient notice from administrators.
  • Members are allowed to send apologies when they cannot attend, however they must at least attend once a month, failure to attend will result in a fine for poor attendance which is R50

Joining Fee

  • Each member must pay R200 as a non-refundable joining fee. R100 will be placed in the social accounts as it will form part on interest at the end of the year, and R100 will be for administration of Pushstart.


Please note that NASASA does not levy a joining fee. Such fees are payable only to the group with which an individual is a member.


  • Each member will contribute a minimum amount of R120 per meeting (Held every Sunday at 15H00).
  • Members who wish to contribute once monthly are welcome to do so, by depositing amount which will cover for the month and the must state it’s a monthly contribution; however, you are still required to attend meetings.
  • Annual target for every member is set at R4000 (Members will be notified via e-mail and WhatsApp as soon as they qualify for interest sharing)
  • Members have an option to take up a loan of minimum R1000 or pay R300 Loan avoidance fee to qualify for interest sharing
  • All members are required to reach the R4000 target to qualify for interest sharing
  • R10 for every transaction will go towards platform upkeep and management
  • Making late payments of weekly contribution is charged a fine of R30
  • Members will be able to make weekly contributions using Scan to pay, EFT and Direct deposit as stipulated on About page.
  • all contributions done offline (bank deposit) must send proof of payment(Slip/SMS screenshot) to
  • Cut-off time for weekly deposit/contribution payments is Sunday at 15H00, late deposit/Proof of payment will result in a fine of R30
  • All proof of payments, penalty/fines will be made available on the website for all members to view on weekly basis and updated every Tuesday.
  • A member will be automatically deregistered and all contributions dissolved for failing to make any contribution for 5 consecutive weeks.
  • Members who do not make weekly deposit will be fined R50 which will form part of interest.
  • All members who do not qualify for interest sharing (Not reaching R4000 target or failure to pay loans, Loan avoidance fee and missing meetings for 5 consecutive weeks) will be reimbursed with their contributions after deductions of Registration fee, outstanding loans and penalty fees.


  • Members will be able to request a loan and can only be granted for a member if your social account balance is R600 or more, R500 rand is held on your account as part of the social investment programme.
  • Benefits as well as methods of distribution may be amended from time to time.
  • Alterations to benefits will be agreed upon by way of group vote/poll where a majority rule principle will apply.
  • For every 100 rand loan there will be 30 rand charged as interest which is due 4 weeks from the date of loan granted, failure to pay interest will result in more interest charged to your initial loan amount .
  • Members will be able to suggest new ways of improving the Social club's benefits of which implementation of such will be decided by a majority of votes (Please use the suggestion page suggest new ways of improving the Social Club.
  • The loaned amount must be paid within 5 weeks from the dated it was loaned, failure to pay back will result in the loaned amount being increased monthly with the initial interest amount.
  • Members who do not wish to take a loan can make a deposit of R300 so as to qualify for interest sharing, and they must state that it is for the loan avoidance fee.


  • If a member passes away while actively registered, the nominated beneficiary may choose to continue with the account, provided that proof/death certificate is provided to Pushstart support or choose to terminate the account which will see the contributed amount minus the administration fee(R500) sent to the beneficiary on the supplied bank account.

Code of Conduct

  • No member will use the name of the Social club for personal business purposes or personal gain.
  • Each member will be expected to conduct him or herself in a socially acceptable manner at the meetings.

Meeting Attendance

  • Chairman will be responsible for giving a member time to talk during our online meetings, member will use the "Raise hand" feature provided on the meetings platform if they wish to talk
  • Speaking out of turn will result with a member being fined R30.
  • Absenteeism is charged at the fine of R30
  • Profanity or vulgar language is not permitted during the meetings, failure to adhere to the rules will be met with a fine of 100 rand - Primary language used on the platform and meetings held will be in English (No fines for use of any other language)
  • All members are entitled to a 10-minute break during the course of the meeting.
  • If a member cannot attend a meeting for any reason whatsoever, a written apology must be sent to the chairman, Social club WhatsApp account (To be provided when membership is confirmed) and social club email address ( 4 Hours before the start of the meeting.
  • Should a member fail to attend a meeting without an apology (Mailed to or good reason such as illness or being away, he/she will face a penalty fine of R35.


  • The money in the organization will be deposited automatically into Pushstart's account and sub-accounts administrated under the name Omni Managed Services / Pushstart.
  • Signing power is held by 3 persons nominated by the Social club.

All transfer transactions must be signed by at least 3 of the nominated persons.

Social club date and timelines

  • In the event that the Social club closes, any extra funds and assets of the Social club will be shared amongst members according to each member contribution in the Social club.

Change of Constitution

  • Constitution can be amended on suggestion of members which will be discussed on our weekly meetings, a voting system/poll will be held for all members to accept or reject the suggested amendments tabled.
  • Changes in the constitution must be announced 30 days prior to the meeting.

By registering and paying joining fee, you acknowledge and accept terms and constitution of the social club.

Updated 04 April 2021

For more information email (Download constitution HERE)