Contact Us
Looking for a perfect platform to handle your finance?
No15 Parliamentary Road, Calabar
Our Services
Business analysis
Book Keeping & Financing
Produce Stores/
Purchasing outlet
Produce
Processing & Packaging
Product Supplies and
uptaking
Vehicle Rental,
Haulage & Delivery
Our Financing products
Thrift Savings
We offer to our members flexible thrift savings. Each member maintains a monthly thrift savings account of equal instalments. Members can decide the amount to pay for their monthly thrift. Our thrift savings consistently returns impressive interest rate to our members annually. We disburse thrift savings and interest earned at the end of every year; on the 20th of December each year, members receive their thrifts and interest earned for the year. Members may withdraw part or all of their thrift before the end of the year with just 7.5% fee charged upon the amount withdrawn. Our thrift savings start in January every year and end in December 20th when savings are disbursed. People who did not have opportunity to start the thrift in January may also join at any month of the year; in such instance, the member enjoys interest returns only for the period he or she has saved in the thrift. Also note that there are other conditions for joining the thrift mid-way into the year that apply.
Shares
Each member is entitled to equal number of shares at the initial value of NGN500 per share; 600 units of shares is automatically allotted to each member on registration. Members claim their shares by paying at once or by instalments over 6 months. Shares are non withdrawable but can be transferred to a new member on a secondary offer whenever such a member wishes to exit the cooperative. Members who are unable to pay fully for their shares at the end of 6 months from date of their registration will have their deposit declassified and committed to their savings account. Share holders enjoy annual dividends. We pride ourselves for returning above 33% dividends on shares to our members since inception. Funds raised through thrift are committed to long term investment while funds raised through thrift are committed to short term lending to thrift members. Thrift members who do not hold shares do not benefit from certain earnings of the cooperative
Loans
We offer loans to our members only. Our lending interest rate ranges from 5% to 30% depending on the member borrowing risk rating and financial standing in the cooperative. Are you a member of the Cooperative? You can take your Risk Assessment Online by or visit our office to discuss your risk assessment with an account officer. Types of Loans: Our loans support (a) Retail shop expansion (b) Distributorships (c) Hailing Vehicle purchase (d) Produce Storage & Processing (e) Personal borrowing against Salary, etc. To qualify for our loans To access our loans, you must; 1. Have been a member for not less than six (6) months 2. Provide a member guarantee who has at least 80% of the amount you are requesting 3. Completed your KYC with us 4. Sustain a monthly savings equal to the repayment instalments for the amount you have requested 5. attain a risk rating not more than 45%
Thrift Block
A thrift block is a specific thrift account where a member pays at once any amount he or she wishes to thrift by the end of the year and gains 25% withdrawable interest instantly. The member will only withdraw the capital on the 1st day of completion of 12 calendar months from the day he or she started the thrift. Members may also on specific conditions operate a thrift block account for 6 months but for a lesser interest rate.
Savings
Members may maintain a Savings account to hold money other than thrift savings or shares. Savings accounts attract interest for members only if there is no withdrawal from the account after three months. However, savings account holders may withdraw their money on demand without any prior notice to the Cooperative. Savings accounts enjoy interest credit quarterly, provided no withdrawal has been executed on the account within the period.
