Procedure to Become A Member of our Cooperative Scheme?

This is for the thrift, emergency or target savings schemes

Below are the Procedure for joining any of our Cooperative Saving Scheme

  1. An application fee of N500.00 is charged per form and a registration fee of N1,000.00 for membership.
    2. A regular monthly deposit of one’s choice is made per member and can be made in advance (divided daily or weekly installments are allowed).
    3. A penalty of N500.00 is charged per month defaulted.
    4. Operators may increase their deposits but must obtain official clearance in writing for a decrease.
    5. Loans, interest and dividends and other benefits shall be paid to active operators only whose evidence is continuous deposit for twelve months.
    6. Two guarantors who themselves are active members and are not indebted to the cooperative in any way shall be required along with appropriate collateral bearing an agreement for change of ownership to the consult in the event of failure.
    7. All privileges and benefits are withdrawn on the following offences:
    a. Failure to continue deposit for a maximum of three months unless a penalty is accepted for the period of default.
    b. Causing disaffection within the system.