AMCO Welfare Fund

AMCO WELFARE FUND
Membership – Membership is only open to members of AMCO
All members are automatically members of AMCO Welfare Fund.
Fees – A fee of RM1-00 a month is imposed on the membership of the Fund. A half yearly deduction of RM6-00 per member shall be contributed to the Fund.

Purpose of the Fund –
1. Retirement – Any member (24 months and above membership) who retires from the Bank shall be entitled to RM200-00.
Members who are promoted out of scope or who resigned from the Bank shall not be entitled.

2. Education – Children of members who achieved 7As and above in the SPM and ‘O’ Level examinations shall qualify for an academic excellence award of RM100.00. All applications shall be attached with certified copies of the relevant certificates. Certification can be done by Maybank management or the school principal.

3. Death benefit – Beneficiary/dependent of members are entitled to claim for death benefit upon the demise of the member. Death benefits are as follows:-
a) 24 months to below 5 years of membership                            – RM200.00
b) 5years to below 15 years of membership                                – RM500.00
c) 15 years and above of membership                                         – RM1, 000.00

Members must fulfill the minimum requirement of 24 months membership to be eligible for the above benefits. Members with 3 months default in payment will ceased to be a member of the Welfare Fund.  All benefits under AMCO Welfare Fund will be effected on 1st Oct-2012.

The EXCO of AMCO hope and encouraged members to fully support the AMCO Welfare Fund as it is very beneficial for the members and their family. The spirit of unionism with the motto ” ONE FOR ALL AND ALL FOR ONE” will foster better caring and understanding and thereby creating a better and stronger protection for all in AMCO.

OUR UNION OUR VOICE.