Become a member for just £1

FACLT invites local people to join us and support our mission.

For a minimum of £1 you can buy a share which makes you a member, you can of course purchase as many shares as you like and any extra contributions are welcome although we operate on a one member one vote basis.You’ll receive a share certificate and will be eligible to vote at the general meetings. You will also be able to apply to stand for one of the places on the board.

There is a legal definition of a CLT. It must be:

  • Owned by the Community
  • Run by the Community
  • For the benefit of that geographical Community
  • Not for personal profit
    Housing and Regeneration Act 2008 Part 2, Chapter 1, Clause 79.

To ensure the CLT achieves this, FACLT has been registered as a Community Benefit Society and it needs members to join and help achieve great things. Each member will have one, equal vote at general meetings, be able to put themselves forward as a board member when there are vacancies and elect the board.

A Community Benefit Society is joined by members owning shares in it. Unlike a share in a company (such as British Gas) you will not ‘own’ part of the CLT and will not receive any payment from profits. The shares cannot rise in value but may lose value. You cannot sell them.

As a Community Benefit Society, as well as guaranteeing democracy and ensuring its assets are protected, Frome Area CLT will be able to raise money through issuing shares. Currently, we just want membership.

We are asking for those who want to support our initial goal of providing affordable housing for local people to invest £1 or more in shares and join us.

Please fill in the form provided here and take your £1 per share to the Town Hall or post us a cheque (cheques payable to Frome Area CLT Ltd).

Cheques are acceptable, see application form.

Alternatively, you may download a paper form and send it to us.

Join Today

    Email is our preferred method of transmitting communications

    Please confirm that you are eligible for membership by completing the following:

    I am aged 16 years or more:

    I live or work in Frome or the surrounding area:

    I understand that:

    • Members each have one vote at general meetings regardless of how many £1 shares they hold.

    • Shares will never be worth more than I pay for them, and could even reduce in value and there will be no dividend payable to shareholders.

    • By becoming a member, I am signing up to the rules and other governing documents of FACLT, available from the website or the Town Hall.

    • This is not a savings scheme and I may not get any or all of my money back should I ever ask for this in the future.

    • If I wish to leave the CLT, I must apply in writing to the membership secretary at the address above and that the Board will consider whether my share money can be returned. FACLT cannot guarantee it will have sufficient funds.

    • The shares are not backed by any compensation scheme or ombudsman.

    • This application will be considered by the FACLT Board and may not be accepted at the Board’s absolute discretion.

    • I consent to FACLT holding and processing my personal data for the purposes set out in, and in accordance with, the Data Protection Policy, available from the website or the Town Hall. This may include sending you emails using the Mailchimp, or similar third party, email platform and we will need to transfer your data to the third party for this purpose.

    • I consent to Frome Area CLT Ltd. sending me information on my membership and the activities of the CLT.

    • I submit this application for ONE share with my payment of £1.00:

      • BACS: ** Name - Frome Area CLT Ltd. ** Sort code - 08 92 99. ** Account Number - 65871850.

      • Cheques payable to ‘Frome Area CLT Ltd.’

    Members’ personal information will be held in accordance with the General Data Protection Regulation 2018 or other applicable legislation and all members will have access to a copy of the CLT’s privacy policy.

    Please ensure that the CLT’s membership secretary is informed of any changes to your personal details.