All official meetings are open to all members.

The shares vary in denomination from $25 to $200; the larger figure being common under the serial plan and $100 being usual under the continuous (or permanent) plan, described below.

Whenever there is a sufficient sum it is loaned to one of the members for the purpose of building a house.

The borrower must subscribe for shares to the par value of his loan.
The receipts of the association are of several kinds.
(a) Interest is received from members, usually at the rate of 6 per cent, and from banks at a lower rate on the small working cash balances kept on deposit.

Usually the loans made are large enough to cover a large proportion of the cost of the house, but the land on which the house stands must be free from all incumbrance, and its value gives a margin of safety to the association.