Membership | Urban Cooperative

Membership Overview

Urban Multipurpose Cooperative Society Limited offers an open and inclusive membership structure that welcomes individuals from all walks of life who are committed to the principles of disciplined savings, financial responsibility, and collective economic empowerment.

Membership is voluntary and open to all persons capable of using the Cooperative's services and willing to accept the responsibilities of membership, without discrimination on the grounds of gender, social status, race, political affiliation, or religious belief.

By becoming a member, you gain access to a range of savings programmes, credit facilities, and financial empowerment opportunities designed to help you achieve your personal and financial goals.

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A one-time registration fee of ₦₦20,000 is required to become a member and enrol in any savings plan.

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500+ Active Members & Growing

Membership Eligibility

Age Requirement

Applicants must be at least 18 years of age and possess the legal capacity to enter into a binding contractual agreement.

Identification

Applicants must provide valid means of identification, such as a National ID card, International Passport, or Driver's Licence.

Residency

Applicants must be residents within the Cooperative's area of operation or have a verifiable connection to the community served.

Acceptance of Principles

Applicants must accept and commit to the Cooperative's by-laws, principles, values, and code of conduct.

Registration Fee

Applicants must pay the prescribed non-refundable registration fee and purchase the minimum share capital as specified in the by-laws.

Application

Applicants must complete and submit the prescribed membership application form and provide all required supporting documentation.

Membership Registration

To become a member of Urban Multipurpose Cooperative Society Limited, follow these simple steps:

Step 1: Obtain Application Form

Visit the Cooperative's office or download the membership application form from our website.

Step 2: Complete the Form

Fill in all required details accurately and attach copies of your valid identification documents and passport photograph.

Step 3: Submit Application

Submit the completed application form together with the registration fee and minimum share capital payment to the Cooperative's office.

Step 4: Verification & Approval

The Cooperative will review your application, verify your details, and approve your membership. You will receive a membership identification number and certificate.

Step 5: Start Saving

Once your membership is approved, you can immediately begin participating in any of our savings programmes and enjoy full membership benefits.

Member Commitment

Every member of Urban Multipurpose Cooperative Society Limited is expected to demonstrate commitment to the Cooperative's success and sustainability through the following:

Regular Savings

Members are encouraged to maintain a regular and consistent savings habit by contributing to any of the Cooperative's savings plans.

Active Participation

Members are encouraged to actively participate in the Cooperative's meetings, programmes, and decision-making processes.

Patronage

Members are encouraged to patronise the Cooperative's services and products to strengthen the society's financial base.

Compliance

Members must comply with the Cooperative's by-laws, policies, and code of conduct at all times.

Rights of Members

Every member of Urban Multipurpose Cooperative Society Limited is entitled to the following rights:

Right to participate in the Cooperative's savings programmes and access available financial services.
Right to fair and equitable treatment in all dealings with the Cooperative.

Right to vote and be voted for in the election of the Board of Directors and other leadership positions.
Right to access loans and credit facilities in accordance with the Cooperative's lending policies.

Right to attend and participate in the Annual General Meeting and other general meetings of the Cooperative.
Right to share in the Cooperative's surplus through dividend payments based on patronage and savings volume.

Right to receive timely and accurate information about the Cooperative's financial position and operations.
Right to withdraw from membership in accordance with the Cooperative's by-laws.

Responsibilities of Members

Membership in Urban Multipurpose Cooperative Society Limited comes with the following responsibilities:

To uphold the Cooperative's principles, values, and code of conduct.
To protect and promote the image and reputation of the Cooperative.

To fulfil financial obligations, including regular savings, loan repayments, and other contributions as stipulated.
To comply with the Cooperative's by-laws, policies, and regulatory requirements.

To participate actively in the Cooperative's meetings, programmes, and governance processes.
To respect the rights and dignity of fellow members, directors, and staff.

To provide accurate and truthful information in all dealings with the Cooperative.
To notify the Cooperative of any change in personal information or contact details.

Termination of Membership

Membership in Urban Multipurpose Cooperative Society Limited may be terminated under the following circumstances:

Voluntary Withdrawal

A member may voluntarily withdraw from the Cooperative by submitting a written notice to the Board of Directors in accordance with the by-laws.

Expulsion

A member may be expelled for gross misconduct, violation of the Cooperative's by-laws, or actions that bring the Cooperative into disrepute.

Death or Incapacity

Membership terminates automatically upon the death or permanent incapacity of a member. Benefits are paid to the named beneficiary or estate.