Ericsson Multi-cooperative Cooperative Society

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  • 17a Ozumba Mbadiwe Street,

  • Victoria Island, Lagos

  • Manhattan Hall,

  • Copious Melbourne, New Yourk

  • 08:00 - 16:30

  • Monday to Saturday

  • Manhattan Hall,

  • Copious Melbourne, New Yourk

  • 08:00 - 16:30

  • Monday to Saturday

We started with a simple idea.

ESMCU overview



Benefits are limitless:

  • It is an opportunity for savings
  • Loans facility at a low rate
  • Dividend on contribution - usually at every financial year
  • Consumer products @ discounted rate with install-mental payment;
  • Vehicle Insurance Policy (comprehensive) @ low rate.
  • Real Estate facilities etc.


Achieved significant milestones amongst which are the below:

  • We were able to meet all demands for loans
  • We had our account audited and approved by Lagos state government
  • We were able to pay out dividend
  • We increased our contribution and funds on investments
  • Start vehicle insurance (Comprehensive) schemes for Members
  • The demands of the dynamic business environment and economy requires scrupulous attention and we have various investment in viable FGN backed investment and put in a lot to do due diligence.

    Growth

  • The Cooperative increased its membership number from 197 to 265 that represents a 26% Increase in membership
  • The cooperative granted loan of N175,606,381.19 in 2015 and N213,942,990.62 in 2016 that is an increase of 18% in the loan granted to our members.
  • The cooperative has paid out dividends 11,010, 928.39 in 2015 and 16,000,000.00 in 2016 that is an increase of 32% in dividends paid out to members.
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