Victorious Flourish Cooperative Multipurpose Society Limited – Membership
Type of membership
• Savings Members: minimum savings of N50,000.00 (you can make it up in 3 instalments)
• Ordinary members: Minimum shares subscription of 100,000 units of N1 share @ N1.00 per share
• Preferential members: Minimum shares subscription of 1,000,000 units of N1 share @ N1.00 per share.
It is shareholding members that have the participatory voting rights at Annual General Meetings, enjoy dividends, bonuses, surpluses, advisory board elections or other appointment.
CO-OPERATIVE SHARES ARE NOT QUOTED ON THE STOCK EXCHANGE AND CANNOT BE TRADED LIKE OTHER SECURITIES. ONLY PEOPLE WHO SUBSCRIBE TO AND ARE WILLING TO ABIDE BY CO-OPERATIVE MOVEMENT REGULATIONS ARE ENCOURAGED TO INVEST. PLEASE BE ADVISED ACCORDINGLY
What are the benefits of being a member?
• The opportunity to save in a secured environment.
• Earning good returns on investments and savings.
• Can use contribution to obtain loans with the co-operative.
• The opportunity of being a part of an investment club.
• The opportunity in learning viable trades and training opportunities for new trades.
• Can withdraw investment (savings) whenever you want by simple notice.
• The opportunity to exchange business ideas.
• Safety and growth of your funds with proper management of investments.
• A fractional ownership of the assets of the co-operative society.
• Guaranteed ownership of a house(s) in any location sold to you at discounted prices on any estate developed by the society.
How do you become a member?
• Must be above 18 years and productively engaged in a legitimate business/work
• Yearly nonrefundable registration fee of N10,000.00.
• Subscribe to a prescribed minimum unit of shares of the co-operative
• Payment of annual membership subscription fee of N100,000.00 p.a
• Payment of minimum monthly subscription of N15,000.00
• Attend regular meetings.
Application for membership
Victorious Flourish Cooperative Multipurpose Society Limited welcome applications from customers who share our values, live in Nigeria or outside Nigeria and who are aged 18 years or over. As a member you are required to hold and retain shares in “Victorious Flourish Cooperative Multipurpose Society Limited” as either an ordinary member or preferential members. We reserve the right to refuse any application for membership.
Victorious Flourish Cooperative Multipurpose Society Limited – Data Protection
We take our responsibilities for data seriously.
Victorious Flourish Cooperative Multipurpose Society Limited will use your information to:
• Issue your share of the profits payment
• Provide the products and services you need
• Improve the quality of our products and services to you
• Provide you with offers that we believe will interest you
We may pass your details onto our subsidiaries including The Banks and The Insurance Company and other co operative societies and carefully selected organizations (our “Partners”) We and/or our Partners would like to tell you by post, telephone and fax – including automated dialing, email SMS, MMS, or other computer methods about a wide range of offers, which may interest you.
If you do not wish to receive this information please ring the help line on
+234 808 385 1098 or tick the relevant box on the application form.
We may monitor or record telephone calls and or emails for security reasons and to improve the quality of our service to you.
When you contact us we will ask you to register security information to help protect your account. If you choose not to register this information you will not be able to manage your account over the phone or online.
Please note that we will disclose personal information to fraud prevention and other agencies to help prevent crime or where we suspect fraud.