Every year, a portion of Iemas’ profits is allocated to our members. This amount, known as the member benefit, varies from year-to-year because it depends on the profits that Iemas made during the year. Every member that utilised Iemas’ financing, purchase card or short-term insurance products throughout the year will receive a share of the member benefit allocations.
The Board of directors proposes the percentages to be allocated for each product, and these are then approved by our members at the Annual General Meeting. The benefits are allocated to members in November. The percentage benefit that is allocated to the member and the portion paid into a members’ reserve (savings) funds depends on the product portfolio that a member used and also on the type of product.
Click here to view the member benefit allocation process!
Click here to view the 2015 AGM Minutes (Draft)