FLED Multipurpose Cooperative Society Ltd

 ABOUT FLED COOPERATIVE

 

Who We Are

FLED Multipurpose Cooperative Society Ltd was registered in January 2007. It is approved by the government to operate as a financial cooperative. We exist to promote the business interests of our members and to support their other personal concerns.

We work closely with our members on different strategies to enhance their economic sustenance through business start-up supports.

FLED Cooperative is very stable and is a member of FLED Group Africa. 

Our Mission

To provide financial and ancillary support to enable our members to grow their businesses and other legitimate initiatives that support their financial independence.

Our Vision

 Members who are economically stable to pursue other passions 

What we do

We admit individuals who desire to become economically independent through self-driven businesses. 

We support the business enterprises of our members. We encourage our members to get involved in agribusiness (production, processing, and marketing); property and real estate; export of services, etc. 

To be a member, you must:

  1.  Registration by Completing the application form for free. A membership fee of N3500 will be charged later for administrative purposes
  2. You are expected to save any amount regularly, either daily, weekly, or monthly starting with as little as N500.  You are at liberty to save any higher amount, depending on your capability.

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

  1. Apart from normal savings, members are encouraged to make special savings for their special projects as listed below.
  2. Normal savings cannot be withdrawn in full, except the person wants to close their account.
  3. You can withdraw all your special savings at maturity; you only need to give one month's notice before maturity.

Loans

The Cooperative gives loans mainly to its Members, and to others on rare occasions on special conditions of suretyship.

Emergency and Short-term loans are given to enable members to invest in their businesses or to attend to urgent matters, as the case might be. Collateral loans are taken based on the nature and duration of the loan.

Loans are disbursed based on a first-come, first-served, and on the availability of funds. 

  1. To qualify for a loan, the member must have saved consistently for 3 months and can only receive 2 times of what they have saved.
  2. Loans for Businesses & Educational advancements receive speedy attention.
  3. The loan repayment period is 3-12 months, depending on the loaner.

Interest on Savings

FLED Multipurpose Cooperative Society gives interest on Normal Savings if the person has saved consistently for 11 or 12 months without withdrawals. Interest paid is 5% of total amount saved 

 No interest is given to special savings.

 Loans

The Cooperative gives loans mainly to its members, and to others on rare occasions on special conditions of suretyship. Short-term loans are given to enable members to invest in their businesses or to attend to urgent matters, as the case might be. 

Loans are disbursed based on a first-come, first-served, and on the availability of funds.

  1. To qualify for a loan, the member must saved consistently for at least 3 months. 
  2. Loans for Businesses & Educational advancements receive speedy attention.
  3. The loan repayment period is between 1- 9 months.

Interests for normal loans:

1 Month repayment – 5%

2-3 months repayment – 10%

4-6 months - 15%

7-9 months - 20%

Interests for Emergency Loans:

1-3 Months repayment – 10%

4-6 months repayment – 15%

7-9 months - 20%

12 months - 25%

Note: Emergency loans are loan requests that come suddenly and must be disbursed immediately or within one week of request.

Interest rate for non-members

  • 1- 3 months – 15%
  • 4- 6 months - 20%

No other charges are required. The Interest is taken upfront, before disbursement of the loan.

Special Savings Scheme

The cooperative allows members to save money for different purposes, to meet short or long-term needs. Special savings are time-bound. It could be for a period of 3 to 12 months.

Members can save from January to December and collect all their savings at the end of the year, leaving only one month's savings for the beginning of next year.

Land/House Purchase Savings

Members are encouraged to save to buy land to build, purchase their own houses, or pay rent can save for it. FLED Cooperative has an MOU with FLED Property Development Company Ltd to our members on property acquisition, rent and leasing at reasonable terms.

Business Improvement Savings

This is for members who desire to inject reasonable capital into their businesses for growth and expansion.

Educational Savings

Members can save towards their educational advancement or for their children/wards to pay school fees, etc.

Food & Household Supply Savings 

Members can register for the daily Food Savings. Contact us for details. Food Distribution under this scheme is done at the second Saturday of December.

Grace Food Mart

FLED Cooperative in conjunction with Grace Kitchen & Food Centre Ltd and Graced family Chapel Grace Food Mart, which is a special food marketplace that offers high quality food items, at fair prices for the prosperity of our members. It holds every 1st Saturday in the Month.

We arrange for bulk purchase of diverse food products from farmers and negotiate with major distributors of household items. We share among our members according to their needs and savings.

FOOD Coupons

Members of the Cooperative who desire to purchase food during the market day, but are short in disposal cash, could request for food coupon from the cooperative which they can use on that market day only.  

Seasonal/Special Events Savings

Members can save for Christmas, Easter, Weddings, 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 enjoy business development support through seminars, training, and trade shows. 
  • You earn a dividend each year from the profit made by the Cooperative if you are a member.

Other issues

  1. Each member is expected to introduce five (5) of their associates to the cooperative to form a team
  2. Each member is encouraged to attend regular meetings of the cooperative as well as other business development seminars and training organized by the cooperative.

OUR Goal 

Our goal is to ensure that no member of the Cooperative suffers a lack of funds to start and run their businesses or pursue their profitable passions. 

There is power in cooperation. Join the FLED Cooperative Society to enjoy the benefits of cooperative enterprise. We are business-minded and we are people-focused.

How to make your payment

FLED Multipurpose Cooperative Society Ltd 


A/c No: 2005412650

FCMB

Description: Cooperative

For more information, contact:

The Administrative Secretary,

FLED Cooperative Society Ltd

Plot MF 57 Cadastral Zone, KMC Street

Off NNPC Filling Station,

Karu Site, Abuja – Nigeria

Tel:  +234 (0)9063069744

Email: fledcooperative@gmail.com

 Click to register now

 

Fled Multipurpose Cooperative Society Ltd is a member of Fled Group Africa, which consists of several interdependent organizations whose businesses cut across leadership development, real estate, media, education, food value chain, and fashion.