Welfare fund
When life goes wrong, members are there.
Every year members vote part of the surplus into the welfare fund. It pays out for births, bereavement, illness and retirement, and funds scholarships for members’ children.
Chapter 01
What the fund pays.
Example amounts for 2026, set at the AGM.
| Event | Example support | How to claim |
|---|---|---|
| Birth or adoption | ₦50,000 gift | Birth certificate within 3 months |
| Loss of a spouse, parent or child | ₦250,000 | Call us; paperwork can follow |
| Hospital stay over 3 nights | Up to ₦300,000 | Hospital bill and discharge summary |
| Retirement after 10 years of membership | ₦150,000 gift | Retirement letter |
| Scholarship for a child | Up to ₦400,000 a year | Application each July |
Example amounts for this demo. The fund pays from what members have voted into it; it is not insurance.
Chapter 02
How claims are handled.
Quietly and quickly. Two committee members review each claim and only they see the details.
- Bereavement support paid within seven days
- Hospital support paid to the hospital if you prefer
- Nothing is published about any claim
Members only
Make a claim.
Tell us what happened. A welfare officer will call you within one working day.
We have your claim, and we are sorry.
A welfare officer will call you within one working day. You do not need to come to the office.
Your request goes straight to the team’s COVORN dashboard, so a member officer picks it up within one working day. Reference noted.
Example details for this demo. Nothing has been sent anywhere.
Questions
About welfare.
Do I pay extra for welfare?
No. The fund comes from the society’s surplus, voted by members.
How long must I be a member?
Six months for most support, ten years for the retirement gift.
Can I claim for my parents?
Yes, for bereavement. Hospital support covers members, spouses and children.
Who decides?
Two members of the welfare committee, within the limits set at the AGM.
Not a member yet?
Welfare support starts six months after joining.