Owned by its members. Answerable to them too.
Four layers, one direction of accountability.
The general meeting
Every member, one vote. It approves the accounts and the surplus, amends the bye-laws, and elects the committee. It meets at least once a year, at the AGM.
The management committee
Elected officers — President, Vice President, General Secretary, Treasurer, Internal Auditor and others — who serve two-year terms, run the society day to day and answer to members.
The Council of Inspectors
Elected separately from the committee, the inspectors supervise it: they examine the books and the committee’s decisions, and report to members.
Appointed officers
The President appoints officers such as the loan and compliance officers to do the detailed work — assessing loans, checking applicants, keeping records.
Governance on your phone.
Members are spread across time zones, so general meetings run online as well as in person. Notices, agendas, minutes and votes all live in the member app.
Notice in advance
Every meeting is announced with its agenda, so members can read before they vote.
Secret ballots
The record shows that you voted, never how. Results are tallied once voting closes.
Elections
Members nominate and elect the committee for fixed terms. Past officers are part of the public record.
Minutes for everyone
Decisions and minutes are published to members after each meeting.
Trust, built into the books.
- Double-entry ledger
- Every transaction is recorded as equal debits and credits. The books balance, every day.
- Four-eyes approval
- Large withdrawals wait for a second officer before any money moves.
- Only the current committee
- Officers lose access to the society’s administration the moment their term ends.
- Two-factor sign-in
- Every officer signs in with an authenticator app as well as a password.
- A permanent audit trail
- Every officer action is logged, and the log cannot be edited.
- Reports for members
- The financial position, income statement and annual report are available to members.
The rules, and the people.
The bye-laws are the society’s constitution, and they are for its members. Applicants read and accept them before they join, and members read them in the app. Members can propose amendments, which are put to a general meeting.
Build the future with people like you.
Save in naira and dollars, borrow for less, share in what the society earns — and help shape what we build next.