What is Cooperative; Why You need to join one

What is Cooperative; Why You need to join one

A cooperative is a private business organization that is owned and controlled by a group of people who uses the product or services of that organization.

Cooperative varies in types and sizes but they are formed to meet the specific objective and needs of its members.

Cooperative is a voluntary association of persons who work together to promote their economic interest. It works on the principle of self-help, as well as mutual help. The main objective of is to provide support and assistance to its members.

In cooperative, people come together as a group, pool their resources, utilize them in the best possible manner and derive some common benefit out of it.

Cooperatives are based on the value of self help, self responsibility, equality and ethical value of honesty, openness, social responsibility and care for one another.

After so much explanation, and definition of cooperative, Why do you need to join one?

  1. As a member of a cooperative, You will be trained to cultivate the habit of savings as each members would be required to make savings at interval, this helps you to maintain some financial discipline and financial freedom.
  2. Opportunity to invest; Most cooperative society, takes the savings of it’s individual members and invest it into different business and the profits are shared among its members based on how much was saved. This helps you to earn a side income from your savings.
  3. Access To Loan: The core principle of setting up a cooperative is to help its members, so as a member of a cooperative, you will have access to loan either each or inform of goods.

As it is difficult for a camel to pass through the needle, so it is for an average individual in Nigeria to get access to loan from banks.

As a member of a cooperative, you don’t need collateral as your savings will serve as your collateral and fellow contributors are accepted as guarantors, making loan accessible easily.

Even for those that can meet the conditions for bank loans, the loan may not come promptly as needed Also, the interest rate and repayment terms are not crushing as that of the banks. This easy access to loans has helped many people achieve improved welfare.

Comparing all these benefits to investment in shares or bonds. These other investment options do not impact savings culture; neither do they provide easy access to loans.

At investa.ng we understand all this benefits and how important it is for you to become financially free, that’s why we set up the first Nigerian digital cooperative platform to help you achieve your financial goal.

We have about over 200 active cooperative members, ranging from all fields and professions.

We have been able to digitalize the traditional means of cooperative making it easy for each members to participate in saving, investment and access to loan without stress.

With our mobile app and website, you can make savings, apply for loan, and make investment decision from anywhere and at anytime.

You will have access to your personal dashboard where you will see all your savings and investment growth.

Want to know join the first Nigerian digital cooperative?
visit www.investa.ng to get started

Investa.ng:  First Nigerian Digital Cooperative For Mutual Savings And Investments

Want to know join the first Nigerian digital cooperative?

Investa.ng:  First Nigerian Digital Cooperative For Mutual Savings And Investments

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