Bosom Multipurpose Society Limited started in October 2019 and got registered with the Oyo State Ministry of Trade Investment and Cooperatives on the 8th of November 2019 with registration number 24271 and its operations defined by the cooperatives Societies laws (Cap 35 of the Oyo State of Nigeria 2000) with the sole objective of assisting members to achieve their purposes and vision.

This is anchored on improving economic and social wellbeing of members through the provision of quality and efficient services and opportunities such as credit facilities, thrift savings, special deposits, affordable home ownership, agribusinesses and other manufacturing and distributive trade.

What is Multipurpose Cooperative ?

A multipurpose cooperative society is a type of cooperative organization that combines various economic activities or services to meet the diverse needs of its members. Unlike specialized cooperatives that focus on a specific economic activity (such as agriculture, consumer goods, or credit), a multipurpose cooperative engages in multiple activities to provide a broader range of services to its members. The goal is to address various aspects of members' economic, social, and cultural needs within a single cooperative structure. Activities also ranging from thrift and credit facilities, production to provision as well as marketing and distribution of goods and services. What differentiate cooperative activities from other commercial business enterprises is the way in which the activities are carried out. The specific activities undertaken by a multipurpose cooperative can vary depending on the needs and interests of its members.

How does it operate?

In multipurpose cooperative society, the members establish a jointly-owned and operated enterprise on the basis of self-help/mutual help through which they want to promote their well-being while in Commercial enterprises individual performs these functions on his/her own in order to make profit. In this regard, the cooperative activities are carried out on the basis of co-operative economic entity which is together owned and operated by members, such approach has an advantage over when individuals perform such functions on his/her own. There is an African Proverb that says if you want to go fast go alone but if you want to go far go together and that’s why there is need for relationships and networking in cooperatives to create an enterprise that caters for the common needs of people. Together we can achieve more.

Who Can Join ?

Membership is open to members of public in Nigeria and even abroad as the entire operations of the society is fully digitalized with each member not only having access to their personal accounts but also various ledgers of operations of the society. This mean, no matter where you are all over the world, you can monitore and access your portfolio. The executives are also available to answer any questions you might have.

Membership Benefits

To access easy loans with 5% interest rate for regular loan and 10% interest rate on quick loans to members while 15% interest rate to nonmembers. To earn dividend on society annual surplus. To also benefit from other services of the society in view.

Our Mission

To assist members in achieving their purposes through the provision of quality and efficient services and opportunities. Also, to be the foremost cooperative Society that provides Economic and Welfare services to its members around the world.

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