NNEW Co-operative MULTIPURPOSE SOCIETY LIMITED ........... FAQ :: MEMBERSHIP FORM


Vision
To be the preferred Cooperative that builds a nest of viable and sustainable investments for women-owned enterprises in Nigeria and beyond
Mission

• To promote the economic interest of members by providing credit facilities at fair and reasonable rates on interest for provident and productive purposes.
• To encourage regular savings amongst members so that each member may cultivate the habit of making savings at least once monthly with a view to building up funds.
• To raise capital through share holdings by members in the society to undertake such other activities as are necessary for the attainment of these objectives
• To take measures that would promote among members, the spirit of thrift, mutual-help and self-help based on cooperative principles.
• To manage financial portfolios carefully or social activities as may be approved by the general meeting of members
• To do anything within the law and enter into any transaction which in the society’s opinion is necessary to ensure the proper performance of its functions

Make up of Cooperative

Administrative Arm

• Every member, on joining the Society shall pay a registration fee of N5,000
• Every member will be required to pay an administrative fee  which will be determined by members

Credit and Thrift Arm

• Members can contribute a minimum of N5000 and a maximum of N25,000  monthly
• Loans can only be accessed six months after contribution
• Members can only access 2x their contributions and must have 2 guarantors among the contributors

Investment Arm

• All members of the co-operative are required to buy between  a minimum of 1,000 units to a maximum of 200,000 units of shares at the rate of N50 per unit
• Members can pay for the shares in installments over a period of one year
• Will generate dividends for members at the end of each financial year

Organogram

Supervisory Committee

• MRS.  ADENIKE OGUNLESI              -     PRESIDENT, NNEW
• MRS. ADEROJU ODUNSI                  -     VICE-PRESIDENT
• MRS. OLUWATOYIN ERESANARA     -     TREASURER
• MRS.  FAYO WILLIAMS                   -      PUBLICITY SECRETARY
• MRS.  OBIAGELI NWOBI
• MRS. MARIA EKA
• MRS. MODUPE OYEKUNLE
• MRS. FUNLOLA OKANLAWON

Time of Meetings

• Management meetings will hold bi-monthly
• General Meetings will hold quarterly
• Annual General Meeting will hold once a year

Contact Details:
NECA HOUSE, PLOT A2 HAKEEM BALOGUN WAY,  ALAUSA, IKEJA
TEL: 7742734, 7746352
EMAIL: cooperative@nnew.org , nnewcooperative@gmail.com