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Group life insurance policy for all members in case of death or permanent disability

The sum insured for the life cover per member would range from N250,000 to N1million - A function of size of contribution per member

Basic healthcare insurance would be available for every member

You must be a consistent paid member for 2yrs

At least 2 Years membership required to qualify for all the special benefits listed above.

Offerings and Products

Monthly Cooperative Contribution


  • Compulsory monthly savings of at least N5,000 per month. No upper limit.
  • Members are advised to leave if they fail to make any contribution in 6-straight months  
  • Total contribution for the year ranks for dividend (or surplus) sharing by year end
  • Loan to members is a function of how much contribution each member has made.

Loans to Members


  • Cooperative members can access loans after making six (6) months contributions 
  • Loan amount is not capped but disbursement is subject to recommendations from Risk Management Unit.
  • Loan amount is maximum of 2times the amount the member has contributed
  • Loans attract single interest rate of ≤ 9% per annum for 12-month repayment period
  • Loans attracts interest rate of ≤ 15% per annum for 18-month repayment period
  • Members to provide 2 guarantors for loans to be disbursed
  • Guarantors must be members of the cooperative

Soft Loans


  • Soft loans are to assist members to meet unplanned, small amount expenses/contingencies
  • Soft Loan amount is capped at N70,000 per member
  • Soft loans attract interest at ≤ 5% per annum
  • Maximum repayment period is 6months

Target Savings


  • Members can make committed savings for future reasons or purpose 
  • Target savings is for a maximum of 12months; with roll overs
  • No withdrawal is allowed from target savings except by way of soft loans (see 3 above)
  • Target savings of 3-to-5yrs without withdrawals may attract additional special dividend

Household Item Financing


  • Stockman cooperative finances household items for its members
  • Electronics, laptops, phones, food stuffs, furniture & fittings come under this product line
  • Household items financing attracts interest rates to be determined by prevailing market rates
  • The amount is repayable within 12months
  • Amount of item is capped at a maximum of N100,000 only

Assets Financing


  • Stockman cooperative finances purchase of assets for its members
  • Cars, luxury household items, etc 
  • Assets amount is from N100,000 and above
  • Assets finance attracts interest charges. This  to be determined by prevailing market rates
  • Maximum repayment period is 24 months

Land Sales


  • Stockman cooperative plans to acquire acres of land for its proposed Stockman Estate within Lagos suburb  
  • This Land can be purchased by members only with long-term repayment plan 
  • Payment plan would be within 36-month period
  • Members can make savings specifically for land acquisition