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 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 and youth economic empowerment as part of FLED gender transformative approach to development.
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 full member of this Cooperative, you must:
- Pay the Registration fee of N3000 and complete the Membership Application Form.
- You are expected to save a minimum of N500 daily/weekly. 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
- Apart from normal savings, members are encouraged to make special savings for their special projects as listed below.
- Normal savings cannot be withdrawn in full, except after four months of consistent savings.
- 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. 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.
- To qualify for a loan, the member must present a viable project that requires financial support to make it profitable.
- To qualify for a 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.
- The loan repayment period is 3-12 months, depending on the loaner.
Interest on Savings
Fled Multipurpose Cooperative Society gives interest on Normal Savings. 6 – 12 months savings without withdrawals – 5%
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. 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.
- To qualify for a loan, the member must present a viable project that requires financial support to make it profitable.
- To qualify for a 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.
- The loan repayment period is between 3-12 months.
Loan interests for members are as follows:
3 Months repayment – 5%
6 months repayment – 10%
9 months - 15%
12 months - 20%
Interest rate for non-members
- 3 months – 10%
- 6 months - 15%
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
Individuals who desire to buy land to build, purchase their own houses, or pay rent can save for it. Fled Property Development Company Ltd will work to assist individuals in the area of land and house purchase, including negotiating for rents.
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 save for regular food supplies and end-of-the-year food and home supplies. We make bulk purchases 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.
There is a quarterly food distribution that is held in March, June, September, and December
Individuals can collect food items according to their savings and according to what they prefer.
Through our company, Grace Kitchen & Food Centre Ltd, we make bulk purchases of diverse food products from farmers and negotiate with major distributors of household items.
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
- 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.
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 Multi-purpose Cooperative Society Ltd
Plot MF57 Cadastral Zone, KMC Street
Off NNPC Filling Station,
Karu Site, Abuja – Nigeria
Tel: +234 (0)9063069744
Email: fledcooperative@fledgroup.org.ng
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.