Flexible and rewarding savings plans designed to help you achieve your financial goals.
Select from our range of savings plans tailored to meet your financial goals and preferred contribution frequency.
A one-time membership registration fee of ₦20,000 is required before enrolling in any Urban Multipurpose Cooperative Society Limited Savings Plan. This fee is paid once during registration and grants you access to all available savings plans.
| Plan | Contribution | Duration | Return on Savings | Registration Fee |
|---|---|---|---|---|
| Bronze | Weekly | 8 Weeks | 2% | ₦20,000 |
| Silver | Weekly | 8 Weeks | 4% | ₦20,000 |
| Gold | Monthly | 3 Months | 6% | ₦20,000 |
| Platinum | Monthly | 6 Months | 12% | ₦20,000 |
| Diamond | Monthly | 12 Months | 24% | ₦20,000 |
Members may contribute to their chosen savings plan on a daily, weekly, or monthly basis. The contribution frequency is determined by the selected savings plan.
The minimum contribution amount for each savings plan shall be determined by the Board of Directors and communicated to members from time to time.
Contributions can be made through bank transfers, direct deposits, mobile money, or cash payments at the Cooperative's designated collection points.
All contributions are recorded in the member's individual savings account. Members receive regular statements of account showing their savings balance and accrued returns.
Returns on savings are calculated based on the specific savings plan selected by the member. Each savings plan offers a predetermined return rate that is applied to the total savings contributed over the plan's duration. Returns are credited to the member's account at the maturity of the savings plan.
The Cooperative ensures that returns are competitive, transparent, and paid promptly in accordance with the terms of each savings plan. Members are advised to review the return structure of each plan before selecting a savings programme that aligns with their financial goals.
Returns are calculated on the total savings contributed during the plan cycle, and no hidden charges or deductions are applied. The Cooperative is committed to ensuring that members receive the full benefit of their savings and the agreed returns.
Upon the maturity of a savings plan, members have the following options:
Withdraw the total savings plus accrued returns in full upon plan maturity. This option allows members to access their funds immediately at the end of the savings cycle.
Reinvest the total savings and returns into a new savings plan cycle to continue growing your wealth and earning additional returns.
Withdraw a portion of the savings and returns while rolling over the remaining balance into a new savings plan cycle.
Members may request early withdrawal of their savings before the maturity date of their chosen plan. However, early withdrawals are subject to the following conditions:
The Cooperative advises members to carefully consider their financial commitments before selecting a savings plan duration to avoid the need for early withdrawal.
Urban Multipurpose Cooperative Society Limited takes the security of members' funds very seriously. The Cooperative implements the following measures to protect members' savings:
Members can be confident that their hard-earned savings are managed with the highest level of care, professionalism, and fiduciary responsibility.
Urban Multipurpose Cooperative Society Limited is committed to protecting the privacy and confidentiality of its members' personal and financial information. The Cooperative adheres to strict data protection policies and ensures that:
Members' trust is paramount, and the Cooperative is dedicated to maintaining the highest standards of confidentiality and data protection.