Welcome to our Frequently Asked Questions (FAQs) page, where we aim to address the most common queries our users encounter. Whether you're a new member exploring our services or a long-time member seeking more information, we've compiled this resource to provide clear and concise answers to your most pressing questions.

Browse through the categories below to find solutions to common concerns, discover helpful tips, and learn more about our offerings. If you don't find what you're looking for, feel free to reach out to us. We're always available to help you navigate seamlessly through your experience with us.

What is Share Capital ?

It is the purchase of shares that establishe a sense of ownership among the members. Each member usually has an equal say in the decision-making process, regardless of the number of shares they own. The principle of "one member, one vote" often applies. The dividend of each member is determined by their Share Capitals.

What is the difference between Savings and Share Capital?

Savings is to help members cultivate habit of savings as well as to have easy access to loan for productive purposes while share capital is a member contribution towards the society investment and at the end of every year members will receive dividend on the society surplus on investment as well as surplus on loans.

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.

Can I GET back my REGISTRATION fee whenever I terminate my Membership?

Registration fee, also known as entrance fee is a NON-REFUNDABLE payment made by every individual who joins BOSOM Multipurpose Cooperative Society.

What is the different between regular loans and quick loans?

Regular loan is a loan member can access after six month of membership and the maximum repayment period is 12 months for now. While quick loan is a loan a member and nonmembers can access anytime and the maximum repayment is 3 months.