01. The name of the Society is called ACHIEVERS GATHERING MULTIPURPOSE COOPERATIVE SOCIETY LIMITED.
02. The …………………..State Head office shall be………………………………………………………………………
03. Area of Operations: the Area of the society shall be the entire ………………………………..State
04. Our MANDATE is to Create a Godly System For Financial Relief And Employment Opportunities for Our Next Generation. VISION is ACHIEVING THE IMPOSSIBLE WITH LITTLE COMMITMENT OF VALUES and our MISSION is by GATHERING PEOPLE WITH LITTLE COMMITMENT OF VALUE IN FORM OF CASH, SERVICES & IDEAS.
05. All members are to operate or relate with OUR TEN CORE VALUES which are
05(i). Continuation
05(ii)Using the following TOOLS IN THE ORGANIZATION SYSTEM
06. All members are expected to show little commitment to The SOCIETY with there a) TIME, b) IDEAS & c) MONEY.
07. All members are to make monthly payments due which shall be on day of admission week of Every month e.g. if date of admission (date of first payment of contribution) is first Monday, subsequent payment must be first Monday of every month.
Note: New Members are to make payment of Contribution/Loan Repayment before or on the exact day to first payment and must not exceed 12:00midnight of same day every months.
08.Our monthly minimum contributions is Five thousand Naira only (#5,000:00) per member which comprises of :
• Monthly Thrift Savings - minimum #3,000 and no maximum
• Monthly Share Capital - #1000 per member from the month of admission.
• Special Savings - #500 monthly per member on Monthly basis from First contribution
• Development levy - #500 monthly per member on Monthly basis from First contribution (non-refundable)
• Agric Savings - #5,000 per slot (1st January – 30th June)
08. For Non-Interest Paying Member (www.agmcs.com.ng)
• Monthly Thrift Savings - minimum #4,000 and no maximum
• Special Savings - #500 monthly per member on Monthly basis from First contribution..
• Development levy - #500 monthly per member on Monthly basis from First contribution (non-refundable)
• Agric Savings - #5,000 per slot (1st January – 30th June)
Note: Any Excess on contributions shall be added to the Thrift Savings balance.
Yearly Subscription fee for all members is #3,000 (non refundable) and it will be paid yearly on every 15th December – 31st December of every year into designated account.
09. Lateness on monthly due Contribution is punishable offence which is extension of qualified and approved loan for the number of times/month late before disbursement of such loan.
10. After admission into a Society and first contribution is made by a newly register member, such member cannot quit or resign his/her membership until after six month of admission into unit and necessary contribution must be made promptly before resignation letter will be accepted by Society Executive.
11. Non payment of monthly contribution for three months consecutively by any member(s), such member(s) will need to be readmitted again into the Society by the highest Authority in writing and admission fee of #3,000.
12(A).A registered member of the society is entitle to first loan after six month of consistent contributions as follow
| Contribution Range (#) | Total minimum contributions required | First Loan (#) |
|---|---|---|
| 5,000 | 30,000 | 60,000 |
| 10,000 | 60,000 | 120,000 |
| 15,000 | 90,000 | 180,000 |
| 20,000 – no maximum. | 120,000 | 240,000 |
12(B). After he/she have successfully onboard Ten newly registered member for the cooperative society system and first payment is confirmed..
13. First loan repayment period is TEN(10) month and subsequent loan repayment is 1½ years(18 months) or more depending on the loan amount and capacity of the member taking loan.
14.A registered member is entitle to a referral bonus of #500 on each member registered directly into the system using there referral link or code during application and registration stages.
Note: Referral bonus will only be withdrawable When the amount is up to #5,000 in the wallet and will not be withdrawable For any members until such member(s) has totally fulfilled his/her monthly financial obligations in the society for that month.
15.Any member taking loan are to produce two registered and admitted members as guarantors and there asset must cover the loan amount.
16.A newly registered member(s) is entitle to First Loan immediately he/she registered 10 -15 new members and they have been successfully admitted/on boarded into any Society of there choice.
17.A member is qualify to become Society Executive after he/she register 10 - 15 new members and they have been successfully admitted/on boarded into any Society of there choice.
18.Any member qualify for Society Executive will be offer letter of invitation and certificate of participation in training after he/she must have been trained by higher authority and will be entitled to sitting allowance.
19. A qualified and trained Executive is always and forever be an Executive till the day he/she resigned or ceased to be a member of ACHIEVERS GATHERING MULTIPURPOSE COOPERATIVE SOCIETY LIMITED
Thank you for joining us to achieve the impossible with your little commitment of values.
Please after reading and agreed to abide by general rules of the ACHIEVERS GATHERING
MULTIPURPOSE COOPERATIVE SOCIETY LIMITED, you are required to thick box