Become an Ameen Housing member.

Whether you want to invest or buy your dream home, you first need to become a member. It takes minutes to complete the form and you’ll be on your way to 100% sharia compliant investments

Member owned organization.

Ameen Housing is owned by members. So you’ll get to vote on new bylaws and the Board of Directors. Your active involvement ensures the health of the organization. Each member is given one vote during the general body meeting, irrespective of how many shares they own

How to join

Fill out the membership forms and the Ameen Housing team will get back to you in a few days. Membership requirements include:

  1. Be a minimum of 18 years old. (For members under the age of 18, please use a custodian account)
  2. Pay a non-refundable $100 membership processing fee.
  3. Maintain a minimum of 20 shares in the Co-op.
  4. Follow the bylaws, regulations, and policies of Ameen Housing.

Have an existing mortgage? Follow the same steps outlined above, but include proof of your existing mortgage with your Active List request form (RFAL). We’ll work to convert your mortgage to something you can feel good about

Membership Requirements
Custodial Membership

CLAUSE 1: REQUIREMENTS FORMEMBERSHIP

For the sake of convenience, the Membership Form has been split into two separate form. New adult member please provide a copy of Driver License, Government issued/certify photo ID or passport with membership form. One is standard Adult (18+) membership (Membership Form-Standard) and the second one for Minors (Membership Form –Custodial).

To become a member of Ameen Housing Co-operative (AHC) the applicant must:

  1. Be of minimum age of 18 years. For minors (under 18), please use the custodial account membership form.
  2. Fill up an application and pay a non-refundable membership fee of $100 to the Co-operative.
  3. Maintain a minimum of twenty (20) shares at all times. A share carries a fix value of $100. However, member accounts with balance less than $2000 will incur an overhead fee of $25 per quarter.
  4. Comply with the By Laws, regulations, and policies of the Co-operative.
  5. The application for membership must be approved by the Board of Directors.

CLAUSE 2: RIGHTS ANDLIMITATIONS

  1. Each member has one vote in the General Body Meeting irrespective of the amount of funds he/she accumulates in his account provided that he/she is a member in good standing.
  2. Every member shall be eligible to seek elections and hold office in the Board of Directors of the Co-operative, provided that he/she has been member in good standing for one year.
  3. Every member has the right to be assigned a residence according to the policies and time schedule set forth in accordance with section (vii) described hereafter, provided he/she is a member in good standing.
  4. A member may transfer his/her housing unit to a non-member if no member of the Co-operative is willing to take it, provided it is approved by the Board of Directors.

Investment Disclosure andImportant Legal Information

The investment information contained at this web site is NOT suitable foreveryone. The investment plan is based on a shared gain and risk modelpermitted in Al Islam.

The United States regulatory and securities laws prohibit companies and financial institutions from soliciting and raising funds from the public without proper registration with the proper United States authorities. In some cases, unsolicited investments from non-US residents may be accepted with proper disclosures and a non-solicitation letter from the investor.

Accredited institutions and sophisticated investors who understand the risks involved and who own significant assets and derive significant income caninvest directly.

Federal Depository Insurance Corp. (FDIC) does NOT insure your investments and deposits. You may be exposed to losing all your investments. Please order our free prospectus. Read theprospectus carefully before you invest or send money.

Investments may go down in value and the investor may not get back the full amount initially deposited. IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN THIS PROJECT.

If you have any doubt as to whether this investment is suitable for you, you should seek independent, expert financial advice before participating in theplan.

ALL INFORMATION AND CONTENT ON THIS WEB SITE(S) ARE SUBJECT TO APPLICABLE STATUTES AND REGULATIONS, FURNISHED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

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Overview

Custodial Membership account is a non-voting investment account for your minor legal dependents for their education, college or other longer-term expenses.Custodial Membership accounts can be opened for as little as US$1,000.00.

For minor membership , please provide Driver License, Government issued/certify photo ID or passport with custodial membership form.

The $100.00 membership fee does not apply to these accounts.

Custodial Membership accounts will earn halaal dividend just like regular accounts.

Custodial MembershipDisclosure

  1. A "Custodial Membership" is a NON-VOTING, INVESTMENT-ONLY account for a minor legal-dependent of an adult AHC member.
  2. The "beneficiary" selected in "SECTION B" on the Custodial Membership Application form MUST be the minor legal-dependent for whom the     Custodial Membership account is being opened. The Custodial Membership account is FOR-THE-BENEFIT-OF (fbo ) the AHC members minor     legal-dependent and is referred to henceforth as "Beneficiary/Custodial Member".
  3. The parent or legal guardian signing the original AHC Membership Application for the Custodial Membership account has to be an AHC member in good standing. He/She will be the primary custodian responsible for operating the account, and he/she may deposit funds, transfer funds, withdraw funds, authorize address or other changes on the account and/or close the account.
  4. The initial membership fee of US$100.00 is being waived for opening a Custodial Membership account at this time.
  5. A MINIMUM deposit of US$1,000.00 is required to open a Custodial Membership account.
  6. A MINIMUM balance of US$1,000.00 must be maintained in the account at all times. If the balance falls below US$1,000.00 the account will be     AUTOMATICALLY CONSIDERED CLOSED by AHC.
  7. MINIMUM amount for a single deposit is US$100.00 per Custodial Membership account. Single deposits for less than US$100.00 per Custodial Membership account will NOT be honored by AHC.
  8. A Custodial Membership account will not earn dividends until the balance in a Custodial Membership account at the beginning of the quarter is US$1000.00 or greater.
  9. After the 18th birthday of the Beneficiary/Custodial Member, the parent or legal guardian (who signed the original AHC Membership Application for the Custodial Membership) may withdraw the funds without the US$100.00 penalty. Or at that time, the Beneficiary/Custodial Member may choose to open an independent, fee-paying, adult membership with AHC.
  10. ONE minor legal-dependent per Custodial Membership account. A single Custodial Membership account CANNOT be combined for several minors. An AHC member may open separate Custodial Membership accounts for each of his/her minor legal-dependents.
  11. A Beneficiary/Custodial Member is ineligible to purchase a home with an AHC Investment while he/she is a minor.
  12. Parents or legal guardians may make monthly deposits (of at least US$100.00 or greater per Custodial Membership account) by mailing checks to AHC every month. Or, they may choose to give AHC twelve post-dated checks. One check would be deposited into the Custodial Membership account after the 5th business-day each month by AHC.
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Steps towards membership

2023

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2022

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2021

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Disclaimer

The investment information contained at this web site is NOT suitable for everyone. The investment plan is based on a shared gain and risk model permitted in Al Islam.

The United States regulatory and securities laws prohibit companies and financial institutions from soliciting and raising funds from the public without proper registration with the proper United States authorities. In some cases, unsolicited investments from non-US residents may be accepted with proper disclosures and a non-solicitation letter from the investor.

Accredited institutions and sophisticated investors who understand the risks involved and who own significant assets and derive significant income can invest directly.

Federal Depository Insurance Corp. (FDIC) does NOT insure your investments and deposits. You may be exposed to losing all your investments. Please order our free prospectus. Read the prospectus carefully before you invest or send money.

Investments may go down in value and the investor may not get back the full amount initially deposited. IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN THIS PROJECT.

If you have any doubt as to whether this investment is suitable for you, you should seek independent, expert financial advice before participating in the plan.