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- support@nmc.org.ng
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Why Choose
Ndoro Contributory Scheme?
A basic savings product where members contributes N5k monthly to earn dividends and qualify for a loan amount up to 200% of contribution.
Earns interest or dividend.
Savings will earn dividend from surpluses accruable to the society.
Can be used as a qualification metric for loans.
Savings can be used as collateral for loan subject to having contributed for at least 12 months.
Encourages a savings culture.
Savings from steady income towards the realization of major needs
“It made the idea of paying monthly dues at meetings more rewarding.”
Ugo Mpamugo
Features of Ndoro Contributory Scheme
- Minimum monthly contribution of N4, 000.00
- Monthly mandatory contribution for a minimum of 1 year.
- Savings from steady income towards the realization of major needs.
- Savings can be used as collateral for loan subject to having contributed for at least 12 months.
- Savings will earn dividend from surpluses accruable to the society.
- Allows loan amount up to 200% of contribution.
Benefits of Ndoro Contributory Scheme
Safe place to store funds.
Easy withdrawals.
Builds creditworthiness in the cooperative.
Requirements for Ndoro Contributory Scheme
- Must be a registered member of Ndoro Multipurpose Cooperative Society – complete application form and pay the registration fee of N11k which doubles as the initial share capital (5000 shares @) N1 per share), registration fee – N1,000.00, mandatory savings – N4000 and mandatory monthly dues – N1000)
- Willingness to commit to the mandatory monthly dues of N1,000.0
- Willingness to commit to the mandatory Savings of N4,000.00
Final Notes for Members
All savings products are backed by the cooperative’s rules and policies.
Members can operate multiple savings plans simultaneously.
Withdrawals, interests, and penalties are subject to agreed terms and conditions.
Mobile/online banking options are available for easier access.
Want to be part of this?
Other Savings Products
01
This is designed to assist participants to pool resources towards constructions or outright purchase of property.
02
Product designed to enable operators meet specific financial obligations towards festive seasons like Easter, Christmas, & periodic payments like school fees etc.
03
Members deposit a lump sum for a fixed period at an agreed interest rate.
04
A savings product tied to cooperative investment projects (e.g. real estate, agriculture, or bulk trading).
