Frequently Asked Questions

It was established by 10 young, skilled, multi-talented, resilient and result oriented friends with the objective to bridge the gap between the informal and formal sectors by redefining, designing and providing access to technology, finance and market especially in Agric value-chain forming its foundation members.

• Must be a Nigerian.
• Must be gainfully employed (self-employed or salaried employee) with verifiable monthly income.
• Must complete application form and pay the joining fee of N5,000 which caters for initial share capital (N5,000), mandatory minimum monthly savings (N5,000) and monthly due (N1,000).
• Must provide two (2) referees who must have been members of the cooperative for at least 6 months and without records of unpaid dues or contributions.
• Willingness to commit to the mandatory monthly dues as per entrance class
• Willingness to commit to the mandatory monthly savings of at least N1,000
• 2 passport photograph
• Valid Identification
• Copy of Utility Bill

No. Membership is open everyone, Nationwide.

• Access to personal loan up to 200% of savings.
• Development of good saving habit
• Access to Contributory Savings funds.
• Access to the Liberty Hub Multipurpose Cooperative Society Limited Housing Scheme(s).
• Access to the Cooperatives’ periodic household items sales
• Referral to Primary Mortgage Institutions for Mortgage Loan.

Obviously, only earners, Daily/monthly income earners will be able to commit to the mandatory monthly contributions of minimum N5,000 without which membership becomes null and void. Our goal is to encourage savings.

Meetings hold monthly on the first Saturday of every month Virtually. Notice of Meetings are usually sent to members either by email, SMS or posted on the cooperative WhatsApp chat group.

Once in a month and once a quarter as a general assembly.

Yes

• Initial Share Capital of N5,000.00 (new members only)
• Mandatory Monthly dues as per entrance class
• Mandatory Minimum Monthly Savings of N5,000 (N5,000 and above).

You have the option of participating in the Liberty Hub Special Savings (LHSS) which has a minimum entry contribution of N100,000. This scheme is not mandatory for all members but only for those interested in taking advantage of a rear investment scheme.

Payments can be made through any of the three means:

• Payment on the meeting day to the Treasurer
• Direct payment into the Cooperative bank account bank by transfer or cash payment at the bank.
• Online Payment via the app or website

Yes. Payment into the Cooperative bank account as detailed below:
Name: Liberty Hub Multipurpose Cooperative Society Limited
Bank:
Account No. 1: XXXXXXXXXXXX (Current account for projects)
Account No.2: XXXXXXXXXXXX (savings account for lodgment of dues, savings, share capital and others)

Yes. You may issue as many postdated cheques as possible to be presented for payment as at when due.

Yes. However, you will be required to give the cooperative a minimum of three months’ notice.

In the event of member’s sudden demise, all his/her contributions go to the next of kin(s) in the ratio specified by him/her in the registration forms completed at the point of joining the cooperative.

Yes. The Cooperative is highly regulated by the Kogi State Ministry of Commerce, Industry and Cooperatives. Over the year, there has been a smooth cooperation of managements. Furthermore, the Cooperative is:

• Managed by Credible and discipline members
• Managed by seasoned and ethical professionals
• The cooperative is audited annually by book-keepers appointed by the supervising ministry
• Annual General Meeting are held yearly which provides opportunities for members to vie for elective positions in the Cooperative.
• Tenor for office holding is as defined in the cooperative byelaws.
• The cooperative is a duly registered and a recognized legal entity.

1. Mr. (President) – SME Consultant
2. Mr. (Vice President) – IT Consultant
3. Mrs. (General Secretary) – Travel Consultant
4. Mrs. (Asst. General Secretary) – Education Consultant
5. Miss.  (Treasurer) – Sales Executive
6. Mrs. (Financial Secretary) – Microbiologist/Accountant
7. Mr. (Officio) – Advert Consultant
8. Mr. (Officio) – Management Consultant