By integrating advanced technology with financial expertise we provide a comprehensive suite of transactions that cater to both individuals and businesses
A thriving community dedicated to fostering financial growth and security for its
members. Our cooperative offers an opportunity to contribute money monthly,
providing you with a solid foundation for savings. Members can make withdrawals
from their contributions as needed, ensuring flexibility and control over their
finances. In addition, we provide access to business loans, empowering
entrepreneurs and individuals with the capital they need to grow their ventures.
With increased participation, the Friends Merit CICS can:
Our Core Values
These core values — Integrity, Collaboration, and Prudence — are the pillars that guide us in creating a thriving, sustainable, and trusted cooperative for all members.
We operate with honesty, transparency, and accountability in all our dealings, ensuring that our members trust us to act ethically and responsibly in every decision.
We believe in the power of working together, pooling our resources and knowledge to create opportunities for mutual growth and success. Our cooperative spirit strengthens our community and drives collective achievement.
We prioritize sound financial decision-making and risk management, ensuring longterm sustainability and growth. Our careful approach in the first year of operation, which resulted in remarkable profit, reflects our cmmitment to the financial well-being of our members.
Members are encouraged to make regular monthly contributions to the cooperative. This consistent savings culture provides a collective financial pool that benefits all members. The contributions are managed prudently to ensure financial growth, security, and a solid foundation for future projects and initiatives within the cooperative. These regular deposits help build a shared wealth, which strengthens the financial stability of the entire group.
One of the key objectives of the cooperative is to provide members with access to business loans. These loans are aimed at empowering members who are entrepreneurs or aspiring business owners by providing the necessary capital to grow and sustain their businesses. The loans are issued based on clear, fair criteria, ensuring that every member has an equal opportunity to access financial support for business expansion or new ventures. The cooperative aims to foster entrepreneurship, stimulate economic activity, and improve the livelihoods of its members through strategic lending.
Members have the flexibility to withdraw from their accumulated contributions as needed. This feature ensures that members have access to their savings in times of necessity, providing a financial safety net. Withdrawals are designed to be efficient and transparent, giving members control over their funds while also maintaining the cooperative's financial health and sustainability.
By integrating advanced technology with financial expertise we provide a comprehensive suite of transactions that cater to both individuals and businesses
“In June 2022, a group of visionary friends came together to establish the Friends Merit Cooperative Investment and Credit Society (CICS). Initially, the group started with weekly and monthly contributions, fostering a culture of savings and financial discipline. ”
“In our first year of full operation, we proudly declared a remarkable profit, demonstrating our commitment to financial prudence and cooperative spirit. This achievement serves as a testament to the power of collaboration and smart financial decision-making. We are excited to continue fostering an environment where our members thrive and support each other in building a financially secure future.”
Messrs Marcus Elegbeleye, Ayodeji Alewi and some other like minded personnels are the driving force behind this initiative. We invite others to join and help develop the Friends Merit CICS into a robust and sustainable financial institution. Together, we can create a brighter financial future for our members and the community.
Our members are at the heart of everything we do.
We are committed to making a positive impact in our community.
We operate on a sound financial basis, ensuring the longterm sustainability of our cooperative.
Our mission is in promotion of wealth creation and financial growth for our members through fast and low-gate funds access.
© BFMC Is Proudly Owned By Bodija Friends Merit CICS
