Loan rates held
Members voted to keep the regular loan at an example rate of 1.0 percent a month and the emergency loan at 0.75 percent. A motion to raise the business loan rate was defeated, 612 votes to 401.
A dividend of 6.5 percent
From the 2025 surplus, members voted a dividend of 6.5 percent on ordinary savings and share capital (example figure), paid into members’ savings in April. The treasurer reminded members that each year’s dividend is a fresh decision and may be lower, or none, in future years.
We are not here to make anyone rich. We are here so nobody has to borrow from a stranger.
A bigger welfare fund
The welfare fund share rose from 10 to 15 percent of the surplus, and the hospital support limit rose to ₦300,000.
A solar scheme
- Asset finance now covers solar systems from approved installers
- The society will buy panels in bulk twice a year
- Members pay over up to 24 months
Example rates for this demo. Loan rates are set by members at the AGM. Any dividend is decided each year from the surplus and past dividends do not promise future ones. Savings are not a deposit with a bank.