Cooperative societies are highly instrumental in the economic development of a nation. Its plays a vital role in poverty eradication, building of local enterprises, tackling of poverty, creating affordable finance, creation of food security and solving community needs in various capacities.
The benefits mentioned above and many more are reasons why people join cooperative. These benefits are enjoyed by members in form of low interest loan, access to credit services, and investment in shares among others.
Think about it, are all cooperative societies the same or do they have the same objects or mode of operation? Well, even though they have so many things in common but you should bear it at the back of your mind that every cooperative society is unique in its own way.
The reason for establishing such cooperative and the module operandi may differ from one cooperative to the other. This unique difference is what makes the cooperative stand out; it projects the cooperatives’ identity.
For example, a farmer’s cooperative may be founded to give support to farmers in a community such that they will have one voice to communicate with government, have access to training, and get financial support to get subsidized farm input and the rest. By seeing this kind of cooperative, you already know what they stand for.
You can then compare the farmers’ cooperative above with a trade union cooperative in an organization to encourage savings among members and giving out loans to take care of personal needs.
While the two cooperatives illustrated above have some things in common, at the same time they differ in terms of mode of operation and general objective.
You see, generally speaking, cooperative societies come with a lot of benefits to the members. There are some opportunities you may not be able to easily harness being an individual but through the cooperative, it becomes easier.
It is also worthy of note that government supports and patronizes cooperative societies. In fact, government do give all kind of support to cooperatives inform of loans at lower interest rates and tax relief.
In Nigeria today, cooperatives have a track record of improving the lifestyle of its members by encouraging them to develop savings culture and provision of low interest loans either inform of cash or commodities.
What Is Agrolovers Multipurpose Cooperative Society Ltd All About?
Agrolovers Multipurpose Co-operative Society Ltd is a community of agriculture enthusiasts coming together as a team and putting resources together to build a formidable agro commodity supply chain in Nigeria.
To use the Co-operative’s scarce resources to procure, and sell agro commodities to companies on behalf of members with maximum profit in mind to achieve a win-win for all.
To become the leading agro commodity supplier in Nigeria using co-operative methodology.
Agrolovers Multipurpose Co-operative Society Limited has come to fill a huge gap between farmers, manufacturing companies and investors. The Co-operative achieves this by using the collective pool of members’ financial resources to procure and sell agro commodities on behalf of members profitably to achieve a win-win for all.
Cheap agro commodities are being procured directly from the farmers, the Co-operative then sell directly to manufacturing companies and exporters; thereby eliminating middlemen in the process in order to maximize profit.
Agrolovers Multipurpose Co-operative Limited is fully registered and recognized by Nigerian Law. The Co-operative is registered under the purview of the Ministry of Commerce, Delta State with Registration number: 43733. The Co-operative’s sourcing office is in Niger state while our supply office is in Ibadan.
The procedure to become an Agrolovers Multipurpose Co-operative Society Ltd membership requires two steps. The first step requires intending member to purchase our application form of ₦10,000 (Ten Thousand Naira). The second step requires every intending member to procure at least one unit of our share capital with the unit price of ₦200,000 (Two Hundred Thousand Naira only). NOTE: A member can have more than one unit of shares. All registered members are entitled to a soft copy of our bye-laws, membership certificate and other incentives as may be determined by the Executives.
Every Agrolovers Multipurpose Co-operative Society Member is legally qualified and entitled to the Society’s amazing reward system for their trust in the Co-operative. The Co-operative rewards its members in two ways. First, for every profit made every three months, 80% of the profit will be paid as return on investment to members with the unit of shares each member has determining who takes what?
Secondly, the remaining 20% of the profits are being reinvested into the co-operatives’ business for more profit for members. Accumulation of the remaining 20% of the profits in addition with the interest will be declared a dividend at the Annual General Meeting and every member will be paid according to the number of shares each has.
Top 7 Reasons Why You Need To Join Agrolovers Cooperative
- Steady residual source of income every 3 months: At the end of every quarter of the year, we do declare our profits for our business transactions within that 3 months and share 80% of the profits among members depending on the number of shares each member has.
- Mouthwatering dividend: during our annual general meeting, members are entitled to dividends. The accumulation of 20% of our profits for every quarter of the financial year will be put together and share among members depending on the number of shares each member has.
- Commodity Supply: our members are free to use the cooperative as a platform through which they can fulfill their order to supply commodity to companies.
- Learning: every member benefits from the cooperative the learning process of supply chain business. You learn the process of supplying industrial commodities to companies.
- Training: our members are open to periodic business training and support
- Mentorship programs and business partnership
- Other incentives
You want to know more about Agrolovers Multipurpose Cooperative Limited? Let’s start the business conversation from here. You can contact us through the contact us page on this very website. You can as well share your opinion about this post in the comment box below.