Cooperative Multipurpose Society LTD. Strategic Partnership. People Empowerment. Poverty Eradication. Greenland Cooperative Multipurpose Society Limited.
It Is registered, certified and regulated by the Lagos State government with the primary purpose of eradicating poverty and empowering people.
- To create funds to be lent to members for various purposes.
- To undertake thrift and credit business by mobilizing deposits from members.
- To meet the business and social needs of our members.
- To promote entrepreneurial spirit among members.
- To invest in assets and businesses that generates distributable profits for our members.
- To provide specialized business training for members.
- To inspire and motivate our members through cooperation.
- To do all such things as are incidental or conducive to the attainment of any of the above objectives.
Membership is open to all upwardly mobile individuals above eighteen (18) years of age, with sound mind and character; it is also open to group of people or association who support our principle and values.
We have two major levels of membership:
- Network Membership.
- Equity Membership.
- You register with a non-refundable admission fee of ₦20,000.
- You make a minimum compulsory saving of ₦2,000 monthly.
- You qualify to apply for loan of up to two times of the amount you have in your savings with the cooperative after three unfailing months of the savings.
- You secure your future, and that of your family. The investment gives you opportunity to plan your retirement for your company, self, family children or unborn child.
- You become an investor and not just a spender or waster.
- You earn referral commissions for every new member you introduce.
It is important to note that the Greenland Cooperative Multipurpose Society Limited is legally empowered to engage in various investments and trading for the purpose of empowering its members. However, only members who subscribe to the cooperative shares are eligible to benefit from the gains of such investments of trade. The fund raised from the subscription of the shares is the primary source of the capital for investments and trading.
The share capital investment is currently set at ₦1000 per share. Eligible members must purchase a minimum of 50 shares i.e. ₦50,000 and maximum of 5000 shares i.e. ₦5,000,000 (This payment can be made in installment).
- You earn very attractive commission for every new member you introduce. We have a work plan that can make you a millionaire, in few years.
- Every member is entitled to one type of loan or another per time.
- Members enjoy all forms of financing such as Education, Housing, Cars, Salary advance, Contract, Supply and LPO Financing, Equipment and Leasing, Bulk purchase e.t.c
- Free business training and monitoring.
- Interaction, collaboration, partnership networking and investment opportunities.
Financial advisory services.
- You develop a saving culture to meet future needs.
- Disbursement of loan is only possible if the application meet the requirements that ensure recovery of such loan.
- Only members will be primarily beneficiary of any of our services.
- To access any loan, member must have registered with the cooperative and making regular contribution/savings for at least 3-6 months and must produce one or more guarantor(s) who are also members of the cooperative and have at least the amount of money he/she wants to obtain as loan in savings or share capital.
- Loans are insured at a specific cost to the eligible member.
- Repayments are calculated on the reducing balance of the loan.
- There are no fixed interest rates or Return On Investment on share capital investment. Returns On Investment are based on profits made from businesses/ investment made. There is no guaranteed income.
- Inconsistent payment of monthly savings will affect value of money to be received during profit sharing and ease of loan processing.
- All payments shall be made only to designated bank accounts. Greenland cooperative Multipurpose Society Limited shall not be liable for any cash transaction with any individual or body.
- To exit the cooperative, an equity member must give a minimum of 3 month notice, while a network member must give 1 month notice to allow for proper account collation and records.