Establishment and Background

Living Winners MULTIPURPOSE COOPERATIVE SOCIETY LIMITED in Abuja was established on 22nd January, 2024, by Living Winners Model School located in Dutse-Sokale, Abuja. The founder of the cooperative society is the school director, and the pioneer members at inception were staff members of the school. Over time, the cooperative has expanded its membership base to include individuals and businesses from Abuja and its surrounding areas.

Registration and Operations

Living Winners MULTIPURPOSE COOPERATIVE SOCIETY LIMITED is registered with The Director of Cooperative Services in Abuja. This registration allows the cooperative to operate as a financial institution, offering various financial services to eligible individuals and businesses who are members of the society. Some of the services provided by the cooperative include savings accounts, loans, and other financial products tailored to meet the needs of its members.

Services Offered

The primary focus of Living Winners MULTIPURPOSE COOPERATIVE SOCIETY LIMITED is to provide financial services that promote financial inclusion and empowerment within its community. By offering savings accounts, members can securely deposit their funds and earn interest over time. Additionally, the cooperative provides access to loans for members who may need financial assistance for personal or business purposes. These loans are typically offered at competitive rates and with flexible repayment terms.

Expansion and Membership

Since its establishment, Living Winners MULTIPURPOSE COOPERATIVE SOCIETY LIMITED has grown its membership base beyond the initial staff members of Living Winners Model School. The cooperative now serves a diverse group of individuals and businesses across Abuja and its environs. This expansion has allowed more people to benefit from the financial services offered by the cooperative, contributing to economic development and empowerment within the community.

Our Vision

To Be A Viable And Responsive Cooperative, Providing Hope And Comfort For Members Timely And Efficiently.

Our Mission

To Provide Financial Assistance To Our Members Through Innovative And Affordable Products For Wealth Creation.

We are giving you the best services

Our principles and values

1

Voluntary and Open Membership

LWMCL is a voluntary organization. It is open to all Nigerians in all parts of the globe who are able to use their services and willing to accept the responsibilities of membership, without gender, social, political, racial, or religious discrimination.

2

Education, Training and Information

LWMCL provides adequate education and training for its members, elected representatives, managers and employees so they can contribute effectively to the growth and development of the organization. They inform the public about the nature and benefits of co-operation.

3

Concern for Community

LWMCL is committed to working for the sustainable development of their immediate communities and others through policies approved by their registered members.

Registration number:

4277

15years experience

LWMCSL Savings and Loan Packages for Members.

LWMCSL, a leading cooperative in Nigeria, offers various loan packages to its members to support their personal and business needs. The cooperative provides the following savings and loan options:

Target Savings

LWMCSL encourages members to save towards their goals and offers good returns during and after saving. Members can save towards goals like tuition, rent, car/automobile, home ownership, and more. It is advisable not to withdraw from the savings account until the end of the tenure unless in rare cases.

Monthly Contribution

This is a continuous savings plan that offers up to 20% dividend + bonus annually and gives access to a 200% personal or business loan. Contributions are secured at LWMCSL for as many years as desired.

Personal or Business Loan

Members can secure loans by becoming a member of the cooperative. They can borrow up to 2 times the amount they have saved, with structured repayment plans based on workable means of paying back the loans.

Education Finance

This category caters to members needing finance for their children’s school fees. Co-operators must have saved for at least 12 months to receive interest to cover education expenses per annum.

Rent Finance

LWMCSL provides rent financing opportunities for members who can demonstrate means of paying back within a short period. Members requesting rent finance must have saved half of their requested rent as a co-operator.

Local Purchase Order (LPO) or Project Finance

The cooperative finances Local Purchase Orders and project execution on behalf of members at fair rates with a maximum tenor of three months.

Equipment and Lease Finance:

Members can access loans to buy equipment or automobiles with only a 30% initial down payment, spread over two years with shared comprehensive insurance.

Bulk Purchase

LWMCSL will in the nearest future, operate a ‘members-only’ warehouse offering daily need products at discounted rates exclusively for members, freeing up funds for savings.

These loan packages aim to support members in achieving their financial goals while fostering collaboration and wealth creation within the cooperative society.

How it works

To be a full member of this Cooperative, you must:

Membership Application Form

Obtain a Membership Application Form for #1,000. Pay a registration fee of #2,000. This will entitle you to an ID and passbook.

Buy Share

Buy a minimum share of 5,000 units (equivalent of #5,000). This is your share capital in the Cooperative. As a Member, you can buy shares up to 200,000 units (equivalent of #2million). Save a minimum of #2000 daily, weekly, or monthly (this is regarded as Savings. A partial member is one who has not bought shares but only participates in daily, weekly or biweekly, or monthly and special (target) savings.

About Us