If one can insure against risks that may never even materialize, what about that that one knows 100% will one day happen? The AMDA Bereavement Fund was formed to cater for this difficult fact that all of us will one day die.
What is the AMDA Bereavement Fund (ABF)?
ABF is an association whose membership is comprised of individuals whose objective is the pooling together capital and or resources with the aim of using the same to help the members have a befitting send off for themselves and their immediate relatives and to enhance the unity of AMDA.
Who qualifies to be a member of ABF?
Any member of AMDA who is 18 years and above shall be eligible to qualify as a member of this ABF.
How much does a member pay to be part of ABF?
- Every member of ABF pays a non- refundable membership fee of UGX 50,000/= (Fifty Thousand Shillings Only). This is paid at entry.
- Every member of ABF pays UGX 20,000/= (Twenty Thousand Shillings Only) being monthly subscription.
What are the entitlements due to a member in case of a bereavement?
| Event | Amount (UGX) | |
|---|---|---|
| a) | Upon death of a member of the ABF | 7,000,000= |
| b) | Upon death of an immediate relative of the ABF member | 3,000,000= |
| c) | Upon any death in (a) or (b) above, the mandatory contribution by every member of ABF | 10,000= |
Who are the beneficiaries in case of a bereavement?
A Member or a member’s next of kin as the case may be, shall be entitled to receive benefits if any of the persons listed below dies;
- Member him/her self
- Member’s Spouse
- Member’s Biological Child
- Member’s Biological Parents
Does ABF open on an Equal Membership System?
Yes. All existing members of ABF are required to contribute effective from the start of the fund. Members joining at a later date are required to pay all the arrears from the start of the fund except for members’ children who will have become of age.
How is ABF Managed?
ABF is managed through an Executive Committee, composed of 5 members constituted as follows.
- a) Chairperson
- b) Secretary
- c) Treasurer
- d) 2 Committee Members
The Chairperson of the Association is appointed by the AMDA Executive Committee and on assuming office, s/he shall appoint the Secretary, Treasurer and the 2 (two) Committee Members.
Who can I contact in case I want to join ABF?
- Mr. Robert Ndyanabo, ABF Chairperson on +256 752 408 141
- Mr. Collins Tumusiime, ABF Secretary on +256 776698302
Stewardship:
The funds shall be kept on an Account opened in the AMDA SACCO even if the Fund itself shall be an independent body from the SACCO.
There will be a regular Financial Report to the members at general meetings or at such other intervals as the members may deem fit from time to time.
Investments:
It is envisaged that the Fund shall have unused funds as it grows. Such funds shall be invested in ventures approved by the Fund Members in a manner that shall be agreed by members. The fund members may agree to set up structures to execute this, including formation of an Investment Committee or such as other Organ as the members may deem fit.
Next Steps:
- Get some money UGX 50,000 for membership and at least UGX 20,000 1-Month subscription. You will also need to pay up the Monthly subscription fees since inception.
- Pick up your phone and immediately call Bernadine, the ABF Treasurer on 0788809377 or Robert Ndyanabo the ABF Chairperson on 0752408141. They will guide you on eligibility and give you a membership form to fill.
- Pay the relevant dues as indicated and become a Member.
Note that you can pay directly to Bernadine whether by cash or by Mobile Money and be issued a receipt or you can deposit the money on the SACCO Account “AMDA Cooperative Savings & Credit, A/C No. 01061020550512, DFCU Bank, Acacia Branch. Then bring the deposit slip with reason for deposit to Bernadine for a receipt.
For more information, call Robert, Bernadine or Collins.
The writer is the Secretary General of the Archdiocese of Mbarara Development Association (AMDA).