ACFA helping you to make yourself rich by making daily savings

Note: that during the cause of the N500= weekly return, the beneficiary shall also be expected to make a compulsory weekly personal saving of N100= which will be return to him/her, along with the N2, 500= capital base earlier deposited with the Association.

The beneficiary is supposed to use the loan sum to boost his/her business. If the borrower successfully repays the money borrowed, he/she shall automatically qualify to benefit for higher loan sum. The interest for the loan bond of N20, 000= to be repaid in 40 weeks shall be N2, 000= only. 

welcome to ACFA thrift and loans operations

How Does It Work

The program has been structured in such a way that members are trained on how to develop their savings ability. This step becomes necessary because it has been observed that the reason most co-operators depend solely on external loan is the inability of the co-operative managers to train its members on steps to apply in order to enhance their urge to save money. Therefore, the proposal is; money to be loan to members shall be contributed by the beneficiaries themselves.

That is, every members that enrolled for the loan saving program (that wants to borrow money), shall be expected to develop a financial base of up to N5, 000= in sequence. In the case of someone who wants to borrow not more that N20, 000= (Twenty thousand naira only). As any member that Attain to this base already qualifies for maximum loan sum of N20, 000= (Twenty thousand naira only). The loan sum is expected to be repaid by the end of the 40^th weeks on the installment of N500= weekly.

After the complete repayment of the total sum of N20, 000= in the anticipated 40 weeks, the sum of N2, 500= will be returned back to the beneficiary/borrower, from the N5, 000= earlier saved with the Association. Along with the weekly N100= personal savings in the case of someone who does not want to borrow anymore.

ACFA empowering farmers

LIVE YOUR DREAM

Build yourself

Build yourself is a new innovation conceive and developed for ACFA by Mr. Agbonlahor Osamuyi. The Chief Executive Director, Gofta World Enterprise Nigeria. It is a scheme designed to help strengthen ACFA’s members’ financial capability, and to gear-up the expectation of the members of the Association, to “LIVE THEIR FINANCIAL DREAM”.

CO-OPERATIVE ! AN INSTRUMENT FOR EMPLOYMENT

As a review to the event that led to the formation of the co-operative movement by the artisans in the Rochdale equitable pioneers, we came to understand that it was in 1844 when about 10 of the staffs from the weaver shop and about 18 other artisans from the cotton mill all in the town of Rochdale decided to come together to see how they can add value to their lifestyles as they were presently neglected by the government of the day, thereby facing critical economic and financial stress.

           

They, (the 28 persons) came together to set-up the first ever known co-operative society shop. Before this program was exhibited, you can compare it to a situation similar to a script which is made real by some actors through acting. Most time people with little means are looked down upon. They are always regarded as unreasonable. But the record about the 28 weaver tells us that although they manage to bring together one pound each within some months of starving themselves and putting their targeted success in view, their targeted vision was success for all as a collective group, which they eventually achieved.

           

How can we define the kind of critical economic stress these artisans faced, that eventually led to the setting up of this movement, we are talking about here? We have been made to understand that before deciding to bring themselves together as a co-operative group, the weavers faced miserable working conditions and low wages; hence they could not afford the high prices of food and household goods in their time. They were also not recognized nor assisted by the stronghold of their society. They were marginalized because they belong to the grass-root. To exonerate themselves from this pang of pains they are subjected to, they decided that by pooling their scarce resources and working experiences together, they may be able to help themselves to access some basic necessity they could never have acquired as individual.

In the beginning of their business venture, they were having only four items for sale. Which are Flour, Oatmeal, Sugar, and Butter. On December 21, 1844, they opened their store with a very meager selection of the aforementioned goods including a few candles. Within three months, they expanded their selection to include tea and tobacco, and they were soon known for providing high quality, unadulterated goods.

Seeing their progress within short time of operating the shop, the Pioneers decided to add value to their products in a systematic way. By treating shoppers with honesty, openness and respect, as they believed that this will enable these customers to partner with them, because they were having only meager fund to administer to their investment. Hence they needs affiliate partners. Their openness and transparency encourage the partners to feel free partnering with them. As they were very sure that they will be apportioned their normal share in the profits made from the investment, and that they will also have a democratic right to have a say in the business.

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Co-operative Society as a Family:-

When we say co-operative society, we mean “joining together” co-operation mean, “working together”  why co-operators mean people that has agreed to join together in order to work together, for the common good of all its members.

            Unfortunately, most people set up co-operative society today without first knowing what co-operative actually mean. But a critical look at the settings of the co-operative movement shows that the co-operators has not come to know, nor has he been able to display the spirit of unity which is suppose to be the visible mark of true co-operatives. This should have been the unity of purpose designed to protect all member of the movement.

Most time when discussing about the history of co-operative, the Rochdale Equitable Pioneer easily come to mind as the first organized co-operative movement ever operated. But in Nigeria, it is on record that the first co-operative is the Agege Planters Union. The fact that this Agege Planters Union is regarded as the first co-operative in Nigeria does not really make it the first co-operative as it was not really operating under the principles and structures as that of the Rochdale.

Although, this Agege Planters Union was formed on the basis that it will help to curb the excess of European Merchant that has flock the Nigerian market, operating without regulations or control. And also, to serve as a means of furthering political agitation …. On the agricultural cum economic font

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Good Co-Operative Spirit Displayed By The Rochdale Equitable Pioneer

1.      A focused co-operator must be organized.

2.      He must be long suffering.

3.      He must learn to make communication as regular and fluent within them selves.

4.      He must be thankful and appreciative.

5.      He must realize that envy must be eliminated from among its members

   What Co-Operative Is Formed For:

1.      Co-operative societies are form as a body to bring people of the same idea and vision together, in other to attain its goals easily.

2.       Co-operative is a name, a defense, an Identity design to serve as a head way to her member.

What makes a family succeful?

If a family really wants to succeed as one united body, they must learn the following

1.      Be truthful

2.      Be peaceful

3.      Be satisfied with what you can afford.

4.      Must learn to understand the feeling of others.

5.      Every member of the family must meet up with their responsibility. Not relaxing their assignment for growth on others who are also finding ways to meet up with their responsibilities

6.      Every family member must learn to always be on the alert

7.      A good family member, always do well to aid the effort of others in the family, instead of mocking the failure of a family member.

8.      A good family member aid the effort of others in the family, even if he is not sure to benefit from it

9.      A good family member appreciates the effort of others by encouraging them and displaying his/her appreciation even in public. Do you appreciate the effort of others by not being jealous of what they know more than you? If yes, you are a good family member.

10.  A good family member always does well to develop a living conscience towards all at all times. 

11.  A good family member does not easily give up. No matter the discouragement he receives from intruders, they have been taught to press ahead without grudges.

Co-operative Society as a Family:-

When we say co-operative society, we mean “joining together” co-operation mean, “working together”  why co-operators mean people that has agreed to join together in order to work together, for the common good of all its members.

            Unfortunately, most people set up co-operative society today without first knowing what co-operative actually mean. But a critical look at the settings of the co-operative movement shows that the co-operators has not come to know, nor has he been able to display the spirit of unity which is suppose to be the visible mark of true co-operatives. This should have been the unity of purpose designed to protect all member of the movement.

Most time when discussing about the history of co-operative, the Rochdale Equitable Pioneer easily come to mind as the first organized co-operative movement ever operated. But in Nigeria, it is on record that the first co-operative is the Agege Planters Union. The fact that this Agege Planters Union is regarded as the first co-operative in Nigeria does not really make it the first co-operative

Watch video clip explaining Fadama III