Company Profile:
The Cooperative Society was established on December 22, 2020, and began operations that same month with 10 members. Membership strength now stands at 823, as of December 31, 2023. The cooperative society's activities are piloted by an elected management committee and council of inspection.
Goodlife (UYO) MPCS is under the supervision of the Akwa Ibom State Ministry of Rural Development and Cooperatives, responsible for cooperative development in the state. The cooperative hosts monthly general meetings and an annual general meeting where bonuses are distributed to members based on the amount of savings and shares in each account.
About us:
Goodlife (UYO) MPCS was established in 2020 with the aim of:
1. Promoting the economic well-being of her members
2. Encouraging and strengthening the spirit of self-help and mutual help.
3. Assisting members in acquiring assets and preparing for a happy retirement.
Membership in the cooperative is open to business persons, workers in both the public and private sectors, farmers, religious leaders, etc.
GOODLIFE (UYO) MPCS DOCUMENTATIONS
STAGE1
1. The applicant pay the registration fee and fills out the application form
2. The application is received and account is created
3. A member attends meetings and makes savings of not less than N2000 monthly in the Cooperative
6. Member's entries in the general ledger are further transferred to their personal ledgers.
This exercise is repeated month after month based on the activity report. It is through this process that members personal ledgers are updated.
Members maintain three (5) types of accounts, namely: shared Shares thrift savings accounts, loan accounts, fixed deposit accounts, and special savings accounts. The bye laws of the cooperative do not permit withdrawal of money from the shares except for withdrawal of membership, but you can withdraw from a thrift savings account. A member can withdraw money from his or her Special Savings account at short notice and fund such an amount in his or her account at any time.
7. We also maintain a deposit register where payments made in the bank by members are duly documented after confirming their deposit teller with further confirmation from the bank statement. Also, information on the deposit register is transferred to the respective member's personal ledger.
STAGE 2
Withdrawal of funds
Members are allowed to withdraw funds either as special savings, thrift savings, as loan or as withdrawal of membership
A. Withdrawal from Special Savings.
Here, members put up an application to the secretary requesting approval to draw from their special savings account.
The application is assessed by the secretary. If, for sufficient reason, the applicant is in need of more money than what is in his or her special savings, the member can apply for an account adjustment. At this point, funds can be transferred from either the shares or thrift savings account to the special savings account to enable him to withdraw the amount required.
B. Withdrawal as loan
Here, a member puts up an application to the secretary requesting an amount as a loan. The loan is considered, and a maximum of 3 times his or her contribution is approved for ease of recovery. Actually, the consideration before approval ought to be done by the management committee. More information can be found in the cooperative byelaws and prospectus.
The loan given out is recovered within 10 months at 10% interest. N/B: the longer the duration of recovery, the higher the interest.
C. Where a member is withdrawing his or her membership, the member is expected to send in an application for withdrawal from the cooperative and a request for a refund of the outstanding contribution. A member must give six months notice prior to his or her exit.
D. More information is contained in the cooperative bye-laws and prospectus. Members can download byelaws from their dashboard
Company services
Goodlife (Uyo) MPCS
Goodlife (Uyo) MPCS is a credit cooperative. We provide loan services and savings for our members only at a 1% interest rate per month. We also have other loan packages for different kinds of members. We are just available to help our members scale through difficult economic situations.
Members are paid bonuses on their savings, shares, and fixed deposits in the cooperative and for patronising the cooperative by obtaining loans.
Company products:
Vision Statement
To be the preferred financial gateway in the provision of cooperative services.
Mission Statement:
To help members live happier lives by providing distinctive and innovative credit services to our members
Contact Information
Head Office: 326 Nwaniba road (from Plaza; the place is After Drug Enforcement agency office), Uyo, Akwa Ibom State, Nigeria, 09116919172
Branch Office: 100 D Line, Akpan Andem New Market, Udo Umana Street, Uyo
CORE VALUES
Professionalism
Intergrity
Ethical compliance
Diligence
Members focus
Service Excellence.