Join the Cooperative

Please complete the registration form carefully and make payment only to the approved account below.

CDQ Cooperative Society Terms and Conditions

Please read and accept these terms before opening an account. The registration form remains locked until you agree.

Important: You must accept these terms before the registration form will be opened.
Why CDQ Cooperative is a good place for you:
This cooperative is built to help members save regularly, grow personal savings, build share capital, access loans under clear rules, participate in yearly contribution, and enjoy dividend benefits. Dividend is meant for every qualified member under the approved cooperative rules.

1. Membership Agreement

Every applicant must provide correct and complete information. No member may register more than once using the same full name, phone number, email address, or NIN. Membership is subject to approval by the cooperative.

2. Registration Rules

  • Entrance Fee: ₦2,000
  • Registration Share Capital: ₦1,000
  • Monthly Contribution: minimum of ₦4,000
  • Yearly Contribution: optional
  • Coop Number is auto-generated by the system from CDQ3 upward.

3. Monthly Contribution Rules

  • Every member is expected to contribute regularly.
  • Monthly contribution must not be less than ₦4,000.
  • A member may increase contribution, but must remain within cooperative rules.
  • If a member has an active loan, loan deductions may apply first before savings allocation.
  • After loan deductions, if the remaining savings is at least ₦1,100, and Share Capital has not reached ₦50,000, ₦1,000 will go to Share Capital and the balance will go to Personal Savings.

4. Share Capital Rules

  • Share Capital starts with ₦1,000 at registration.
  • Additional Share Capital is built from contribution allocation where eligible.
  • The Share Capital target is ₦50,000.
  • Once the target is reached, further eligible balances remain in Personal Savings.

5. Loan Terms and Conditions

  • Loan approval is subject to cooperative approval process.
  • Loan interest is 5%.
  • Loan admin charge is 1%.
  • Loan form fee is ₦1,000.
  • Repayment period is 6 months.
  • Monthly repayment is calculated automatically by the cooperative system.
  • If a member underpays or misses the required repayment condition, the shortfall is carried forward and a ₦1,000 fine is added.
  • Any excess after full loan clearance is transferred to Personal Savings.
  • Borrowers and guarantors remain locked until loan outstanding, carry forward, and fines are fully cleared.

6. Yearly Contribution Terms

  • Yearly Contribution is optional.
  • Yearly Contribution attracts 12% admin charge.
  • The net yearly contribution value is 88% after the admin charge.
  • Yearly Contribution is treated separately from Monthly Contribution and Share Capital.

7. Dividend Policy

Dividend is one of the benefits of belonging to CDQ Cooperative Society. Dividend is meant for everyone who qualifies under the approved cooperative rules. Dividend is distributed from cooperative profit in a fair and transparent way.

8. Withdrawal and Responsibility

Members must follow cooperative rules for withdrawal, settlement, and account conduct. No member with unpaid borrower or guarantor obligations can complete withdrawal until obligations are cleared.
Member Declaration
I confirm that I have read and understood the Terms and Conditions of CDQ Cooperative Society. I agree to obey the rules governing registration, monthly contribution, yearly contribution, loans, repayment, share capital, savings, and dividend participation.
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CDQ Cooperative Society is built to help members save, grow, borrow responsibly, and benefit together.