Hadassah Alliance Cooperative Multipurpose Society (CMS) – FAQ
Welcome to the Hadassah Alliance CMS Frequently Asked Questions (FAQ). Here you’ll find answers about Full Membership and Associate Membership, their requirements, benefits, and how to get started.
If you have further questions, please email hadassahalliance@gmail.com or call 0814 150 0069.
Full Membership – for women who wish to become shareholders, participate in decision-making, and benefit from dividends.
Associate Membership – for women (including students and young professionals) who cannot or do not wish to invest in shares but want to save, borrow, and benefit from skills and mentorship opportunities.
- Pay a one-time entrance fee of ₦25,000
- Purchase a minimum of 200 shares at ₦5,000 each = ₦1,000,000 total (can be paid upfront or in installments).
- Commit to monthly thrift savings of at least ₦25,000.
Yes.
- Option 1: ₦500,000 within the first 6 months and the balance of ₦500,000 within the next 3 months.
- Option 2: ₦111,111.20 monthly for 9 months.
Equal voting rights (1 member = 1 vote).
Access to cooperative loans (Double the amount saved after 6 months of savings).
Annual dividends from cooperative projects (proportional to shares held).
Access to exclusive business bootcamps and discounted trainings.
Mentorship and discipleship opportunities.
Participation in large-scale cooperative investments (agriculture, real estate, education).
Yes.
Members may purchase extra shares within tier limits (Bronze, Silver, Gold, Platinum), but no one can own more than 20% of the cooperative’s total shareholding. Voting rights remain one per member, regardless of shares owned.
Shares can be transferred or inherited according to cooperative bye-laws. Your estate will receive their value subject to regulations.
Any woman who cannot or does not wish to commit ₦1,000,000 in shares, but wants to save and benefit from loans, training, and mentorship.
Pay a one-time entrance fee of ₦10,000.
Save a minimum of ₦5,000 per month (maximum ₦24,999).
No.
Voting rights are reserved for Full Members who have shareholding.
Access to microloans (₦60,000 – ₦300,000 after 6 months of savings).
Savings benefits, with annual savings bonus (profit-sharing based on savings,
not shares).
Mentorship and discipleship opportunities.
Business and vocational training (digital skills, freelancing, budgeting).
Opportunities for internships, volunteering, and placements in Hadassah
projects.
Spiritual growth through discipleship and prayer groups.
Clear pathway to upgrade to Full Membership later.
Dividends → strictly for Full Members, tied to shares.
Savings Bonus → available to both Full and Associate Members, tied to savings contributions.
If a member has saved ₦120,000 in a year and another saved ₦60,000, and the cooperative declares an 8% savings bonus, they would receive ₦9,600 and ₦4,800 respectively.
Only Full Members receive both dividends and savings bonuses. Associates receive only savings bonuses.
You must save consistently for 6 months.
Loan amount = up to 2x your total savings.
Full Members → ₦200,000+ loans (with guarantors).
Associate Members → ₦60,000–₦300,000 microloans (secured by lien on savings).
Business, investment, education, emergencies, or personal needs, depending on your loan category.
Associate Member loans: 7–10 days.
Full Member loans: 2–4 weeks (subject to guarantors and compliance).
Projects funded by shareholding (equity) → dividends go to Full Members.
Activities funded by savings & loans pool → bonuses/interest go to both Full
and Associate Members.
Yes.
The cooperative runs two separate accounts:
- Equity Account – for share capital & dividends.
- Savings/Loans Account – for thrift contributions, microloans, and savings bonuses.
This ensures fairness, accountability, and transparency.
Yes.
Once you meet the full share capital requirement and savings obligation, your membership will be upgraded. Your savings as an Associate can be carried forward toward your Full Membership.
Inform the cooperative early. Consistency is key, especially for loan eligibility.
Yes.
Our digital financial platform will allow you to monitor savings, shares, loans, and communication securely.
Yes,
Hadassah Alliance CMS is duly registered with the Lagos State Ministry of Commerce Cooperatives, Trade and Investment as a Multipurpose Cooperative.