ABOUT FLED COOPERATIVE Who We Are Registered in January 2007, FLED Multi-purpose Cooperative Society Limited is approved by the government to operate as a financial cooperative to promote the business interests of our members and to support their other personal concerns. We give preference to Women cooperators from around the country who desire to start or expand their businesses and become financially independent through cooperative efforts. We are particular about women’s economic empowerment as part of FLED gender transformative approach to development Our Mission To provide financial and ancillary supports to enable our members grow their businesses and other legitimate initiatives that support their financial independence. Our Vision The catalyst for the economic prosperity of our members and their families What we do We admit women and men who desire to become economically independent through self-driven businesses. We register them and begin to build their capacity for self-sustenance. We encourage our members to get involved in agribusiness (production, processing, and marketing); property and real estate; export of services, etc. To be a full member in this Cooperative, you must: Pay Registration fee of N3000 and complete Membership Application Form Once you are registered, you will be allocated 5000 units of Shares (equivalent of N50, 000). One Unit of shares is equivalent of N10. This is your equity participation/share capital in the Cooperative. You are given a period of 12 months to complete payment of your share capital in the Cooperative. Thereafter you can buy more shares up to a maximum of 200, 000 units (equivalent of N2million). You are expected to save a minimum of N2,500 weekly or N10,000 monthly (this is regarded as your Ordinary Savings – OS – in the Cooperative). You are required to pay a monthly dues of N1000. This money is used for Administrative purposes to prevent using Member’s savings to run the cooperative. Membership Spread Membership of FLED Cooperative spreads across the country through our online platform. Members in each locality organize themselves and are coordinated from the headquarters in Abuja. Click here to register now! Savings, Withdrawals & Loans A part from ordinary savings, members are encouraged to make special savings for their special projects as listed below. Ordinary savings cannot be withdrawn except after four months of consistent savings You cannot withdraw from your ordinary savings more than twice in a month, and you cannot withdraw more than half of your total savings at one particular time. To withdraw up to half of your ordinary savings you must give one month notice. You can withdraw all your special savings at its maturity; you give one month notice before its maturity. To withdraw your total share capital, which means withdrawing your membership, you must give a notice of four (4) months. Loans The Cooperatives gives loans only to its Members. Short-term loans are given to enable members invest in their businesses or to attend to urgent matters, as the case might be. Collateral for loans are taken based on nature and duration of the loan. Loans are disbursed on the basis of first come, first served and on the availability of funds. To qualify for loan the member must present a viable project that requires financial support to make it profitable. To qualify for loan from the cooperative, a member must present evidence of what the loan is to be used for. Loans for Businesses & Educational advancements receive speedy attention. Loan repayment period is between 3-12 months, depending the loaner. Loan to members attract a flat interest rate of 10% per annum. No other charges are required. The Interest is taken upfront, before disbursement of the loan. Special Savings Scheme The cooperative gives members the opportunity to save money for different purposes in order to meet short or long term needs. Special savings are time-bound. It could be for a period of 3 to 12 months. Special saving of six to 12 months attracts an interest of 5% to the Member on Maturity. Special savings of less than six months do not attract any interests. To enjoy the Interest, no part of the money saved must be withdrawn before the maturity date. Land/House Purchase Savings This is for members that want to buy land to build or purchase their own houses. Working through FLED Property Development Company Ltd, we support members in different ways when they have saved reasonable amounts in this scheme. Business Improvement Savings This is for members that desire to inject reasonable capital into their businesses for growth and expansion. Educational Savings Members can save towards their own educational advancement or that of their children/wards in order to pay school fees, etc. Seasonal/Special Events Savings Members can save for Christmas, Easter, Wedding, or other Special Events they expect to spend some lump sum. You save towards this period and collect your money in full when the time comes. Loan Opportunities Business Support Loan Land/House Support Loan Equipment Purchase Loan Food and Household Appliances support. Membership Benefits You’re entitled to receive low-interest loans to finance your business and other important issues. You are entitled to receive Dividends from the profit of the cooperative at end of each year. You enjoy business development support through seminars, trainings and trade shows. Other issues Each member is expected to introduce five (5) of their associates to the cooperative to form a team Each member is encouraged to attend regular meetings of the cooperative as well as other business development seminars and training organized by the cooperative. How to make your payment Foundation for Leadership & Education Development A/c No: 224 203 8028 Ecobank Plc Description: Cooperative For more information, contact: The Administrative Secretary, FLED Multi-purpose Cooperative Society Limited Plot MF57 Cadastral Zone, KMC Street Off NNPC Filling Station, Karu Site, Abuja – Nigeria Tel: +234 (0)708 015 7176 Email: email@example.com Register Here to Become a Member for FLED Cooperative FLED Multipurpose Cooperative Society ltd is a project of Foundation for Leadership & Education Development. The Cooperative is a member of the FLED GROUP, which consists a number of interdependent organizations whose businesses cut across human development, real estate, media, education, food value chain and fashion.