SERVICE CONDITIONS

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1. Only members would be primary beneficiary of any of our services.

2. Members can take loans valued 200% more of their total savings.

3. The repayment is through member's payroll or business income (or as agreed with member) .

4. To access any loan member must have been registered with the Cooperative and making regular contributions for at least three to six months. The minimum share capital must have been fully paid.

5. Personal and business loans help members to save money and repay the loan over a reasonable period of time at a fair and fixed rate of interest.

6. Loans are insured at a specified cost to the eligible member.

7. Repayment protection insurance is available as an optional extra.

8. No hidden fees or transaction charges.

9. Repayments calculated on the reducing balance of the loan. This means smaller interest repayments as you repay your loan.

10. Repayment terms to suit your circumstances or business cycle.

11. Flexibility- you can repay the loan earlier or make larger repayments than agreed with no penalty.

12. Recommended Thrift and regular savings.

13. Additional lump sum repayments accepted with no penalty; members can pay additional sums on loans, provided the full value of the loan is paid within stipulated period. However, in event of default, there shall be penalty.

Membership Class and Fees

Minimum Ordinary Equity: N50,000

Maximum Ordinary Equitys: N1,000,000

Minimum Preferential Equity: N250,000

Maximum Preferential Equity: N5,000,000

*subject to annual review

Cowrie's Cooperative membership fee includes;

Non-refundable Application fee of N10, 000 and an Annual Subscription of N5, 000 per member