Cooperative Society

A thrift and cooperative society called Comkadosa 89ers Thrift and Cooperative Society was established as part of a larger welfare strategy. Details regarding the Cooperative and how to register is highlighted below.

 Aims and Objectives:
1. To promote savings and contributions towards long-term low risk investments.
2. To encourage a savings habit amongst members.

1. Interested up-to-date due paying members of Command Kaduna Class of 89 Foundation with minimum unbroken 12-month due payment record prior to application for membership.
2. Payment of a non-refundable registration fee of N2,000.00. 
3. Membership can be terminated if a member defaults on a loan, ceases to be a member of the Command Kaduna Class of 89 Foundation, has a criminal conviction, financial impropriety such as embezzlement of Co-Op funds or any other act capable of undermining the aims and objectives of the Co-Operative Union.
4. If a membership is terminated all accrued contributions less dues, interests on loans including capital and a 5% administrative charge will be reimbursed to the departing member.
5. To join click on the Registration Form

1. The Co-Operative will be run by 8 officers (Executive Committee) currently led by Mrs Jacqueline Jenson-Fruciano as President with Mr Omoniyi Okeegbe as Vice-President
2. Elections of officers will occur every 2 years at the Annual General Meeting.
3. Election to the various offices is open to all Co-Op members with no outstanding monthly dues

1. Executive meetings to be held every quarter
2. AGM involving all members to be held annually

Funding of Co-Operative:
1. N5,000 minimum monthly contributions / subscription by members. 
2. N2,000 administrative charge for members wishing to temporarily adjust their monthly dues.
3. Individual members’ savings into the Co-op account – this does not replace monthly dues of N5,000 and is not mandatory.

1. Loans are not disbursed to members for the first 24 months from Incorporation of the Cooperative.
2. Members can borrow a maximum of 200% of the balance of their accumulated monthly contributions (excludes savings and other deposits) at agreed interest rates.
3. A condition for issuance of a loan is a minimum 6-month continuous payment of monthly dues/contributions.
4. Interest rates for loans vary from 5 – 12.5% depending on the repayment lifespan.

Account Details
Bank: Access Bank Plc
Account Name: Comkadosa 89ers Trift and Cooperative Society Ltd 
Account Number: 1448788831

Cooperative General Documents
1.  89 Foundation Trift & cooperative by-laws
2. By-laws Highlights
3. 89 Foundation Trift & cooperative Frequently asked questions (FAQs)
4. Cooperative Registration Form