Provide a platform under which members’ funds can be pooled together and measures taken to address the housing needs of its members.
Ndoro Multipurpose
Cooperative Society
To take measures that would promote the spirit of thrift, mutual help and self-help based on cooperative principles.
The aim is to encourage regular savings amongst members, at least once monthly with a view to building up funds for their individual future uses viz a viz promoting collective investment and wealth creation.
NMCS Founding Chairman, NWA, Abuja
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Ndoro Multipurpose Cooperative Savings Products
The cooperative was established with the aim of empowering its members by pooling together funds to execute meaningful projects and ultimately provide housing solutions to its members.
Members can participate in as many Savings Products as they wish!
This is designed for both employed & self-employed individuals such as Artisans, Traders, Cab Drivers, Daily Paid workers and salaried- employees.
This is designed to assist participants to pool resources towards constructions or outright purchase of property.
This is specially designed to enable operators meet specific financial obligations towards festive seasons like Easter, Christmas, & periodic payments like school fees etc.
Motivation for starting
Ndoro Multipurpose Cooperative Society
NMCS
Some Frequently Asked Questions
Who established the Cooperative?
It was established by the Ugochukwu Ogbonna Esq. led membership of the Ndoro Welfare Association (NWA) Abuja Branch with pioneer membership of about 40 persons.
How do I become a member?
- Must be a member of the Ndoro Welfare Association (NWA), Abuja Branch.
- Must be gainfully employed (salaried employee or self employed) with verifiable monthly income.
- Must complete application form and pay initial set-up fee of N11,000 (initial share capital of 5,000 shares @ N1 per share – N5000, registration fee – N1,000.00, mandatory savings – N4000 and mandatory monthly dues – N1000).
- Must provide two (2) referees who must have been members of the co-operative for at least 6 months and without records of unpaid dues or contributions.
- Willingness to commit to the mandatory monthly dues of N1,000.00
- Willingness to commit to the mandatory Savings of N4,000.00
- 1 passport photograph
- Valid Identification
- Copy of Utility Bill
Must I be resident in Abuja to become a member?
No, membership is open to all
What do I stand to benefit from becoming a member?
- Referral to Primary Mortgage Institutions for Mortgage Loan.
- Access to soft loans.
- Beneficiary of Co-operative’s Housing Projects.
- Promotion of mandatory savings scheme
- Access to Contributory Savings funds.
- Access to Co-operatives’ periodic household items sales
