Membership
How does membership work?
Citylife issues shares to its members. Shares cost £1.00 each and members can buy as much as £20,000, or as little as £10, worth. Members want to know that their money is being used to help people who are excluded, disadvantaged or marginalised so that they can enjoy being part of a thriving community again. But they have not made a gift of their money – they can get their money back.
Members must be over 16 years old and can be private individuals or representatives of organisations, societies, companies or local authorities.
Should I become a member?
Membership is for those who share the Citylife’s vision to change for the better the lives and places of people where they live and are prepared to risk their share account to achieve this. Members elect the board of directors, using a one-person one-vote system, and hence steer the direction of the society. They help guide the location and direction of new projects. But if you want a guarantee that you will receive your money back in full on a fixed future date, membership may not be the route for you, but buying a Bond may appeal to you.
How can a member get his/her money back?
Shares can be redeemed in whole or part for cash at their original cost, but only at six months notice and subject to the discretion of the directors.
What happens to my shares if I die?
Shares cannot be transferred – your shares would need to be redeemed and the proceeds disbursed as appropriate.
Can a member apply for Gift Aid?
As a society for the benefit of the community, Citylife has charitable status, meaning a shareholding can be converted into a gift at any time by a member (who will then receive Gift Aid) but, obviously, will then be unable to ask for their money back.
