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Frequently Asked Question!
Yes, Aspac Co-ooperative is a fully licensed co-operative, fully sanctioned to perform both co-operative and investment services to its members.
- When you sign up for a Savings Contribution Plan with Aspac, you can earn up to 20% per annum in returns, depending on how long you choose to save your money with us.
- The rates are as follows:
- 3 Month Plan = 12-15% per annum
- 6 Month Plan = 15-17% per annum
- 12 Month Plan = 15-20% per annum
At the moment, we require a minimum savings contribution of N100,000 per annum.
You will receive your funds, along with any interest and bonuses, as soon as your funds with us have reached maturity.
Currently, there are no other charges apart from a small one-time registration fee of N5,000 However, the registration fee can be reviewed by the cooperative leadership.
- This is a long term savings plan. Every member of the Aspac Co-operative decides on a Monthly Membership Savings Contribution, which is a statutory requirement. Co-operative members who have been active participants for more than one year can withdraw up to 20% from their savings contribution in a maximum of two withdrawals per year, provided they have given a one-month withdrawal notice.
- Additionally, if members wish to exit the co-operative, they can withdraw the sum of their entire savings contribution.
- The minimum Membership Savings Contribution as stipulated by the Ministry of Commerce is 5,000 naira per month. Members can determine their monthly contribution based on their capacity, as well as their financial goals.
The amount of your savings contribution serves as your equity share in the combined pool. Members of the co-operative receive a bonus on their Monthly Savings Contributions at the end of each year. The bonus is determined by the profit declared by the co-operative and is in proportion to the percentage of each member’s savings contributions in the savings pool.
- Active co-operative members are required to pay a Monthly Savings Contribution (a minimum of 5,000 naira) to satisfy statutory requirements.
- On the other hand, Aspac also offers her members opportunities for a periodic fixed savings investment. These savings investments are optional and members can decide how much they want to fix above the minimum amount (100,000 naira). The maximum return on these fixed savings investments is 20% and a minimum of 12% per annum depending on the fixed plan and performance of the funds. Members can choose to fix their savings for 3 months, 6 months, or 12 months.
With the “Save For Your Dream” plan, you can create a wallet where you save for a particular project, like a vacation, building construction project, buying land, paying school fees, and more. You can create multiple “Save For Your Dream” plans, with each one having a specific deadline.
Over ₦200,000,000 in Contributions at Aspac
Join over 500 people already investing with Aspac to enjoy up to 20% interest on your money per annum.