means a co-operative or a co-operative financial institution registered as a co-operative bank in terms of this Act whose members—
| (a) | are employed by a common employer or who are employed within the same business district; or |
| (b) | have common membership in an association or organisation, including a religious, social, co-operative, labour or educational group; or |
| (c) | reside within the same defined community or geographical area; |
[Definition substituted by section 290, item 1(d) in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]