Membership Application Form

Terms and Conditions for Full Membership

1. Acceptance of every new member is subject to the approval of the general house.
2. Every newly accepted member shall be on a probation of six (6) months with effect from the date of approval of the general house.
3. Within the period of probation, a total financial obligation of ₦232,000.00 must be fully settled. Payments may be spread flexibly across the six (6) months — you may pay more in some months and less in others — provided the entire amount is cleared before the probation period expires. This total obligation covers:
   • (a) Entrance fees: ₦10,000.00
   • (b) Annual development levy: ₦2,000.00
   • (c) Share capital: ₦100,000.00
   • (d) Investment fund: ₦85,000.00
   • (e) Monthly savings (6 months): ₦30,000.00 (₦5,000.00 per month)
   • (f) Building fund: ₦5,000.00
   • TOTAL: ₦232,000.00
4. Failure to fully complete the payments stated in (3) above at the expiration of six (6) months will lead to expulsion.
5. Entrance fees and annual development levy are not refundable.
6. Any member expelled shall have his/her share capital, investment fund and total monthly savings refunded at the cost of five percent (5%) Admin. Charge.
7. Upon completion of probationer period, every member is at liberty to make monthly savings convenient for him/her NOT LESS THAN ₦5,000.00.
8. No cash is allowed, you make your payment via bank deposit or transfer on Mobile Banking Services.
9. Payment via POS and ATM are NOT allowed.