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Savings & Investment
Our Cooperative Products
Save With Purpose
COR CMS provides structured savings products designed around different member needs and financial goals. Every naira you save strengthens your financial position, determines your borrowing capacity, and builds the pool from which fellow members are supported.
At COR CMS, your savings are secure, transparently recorded and always visible to you.
Choose What Fits Your Goals
Our Savings Products
1. COR CMS Shares
Build your ownership in the Cooperative
COR CMS Shares establish member ownership and contribute to the capital base of the Cooperative.
- Members participate in approved dividends according to their shares held
- Subject to the financial performance of the Cooperative and applicable approvals
- Your participation makes you part of what we are building together
2. COR Legacy Savings
Build your financial capacity
COR Legacy Savings is designed to help members develop consistent savings habits while building the financial capacity required to access eligible COR CMS financing.
- Establish savings patterns that suit your circumstances
- Build your financial capacity progressively
- Consistent savings. Stronger financial capacity. Greater opportunity.
3. COR TargetSave
Save for what matters to you
COR TargetSave enables members to save towards specific financial goals. Determine your Target, Amount, Duration and Contribution Frequency.
- Use for: School fees, Rent, Christmas, Wedding, Business capital
- Also: Asset purchase, Emergency reserve, Personal projects
- Give your financial goals a plan
4. COR SureSave
Structured savings for defined periods
COR SureSave is designed for members who want to set funds aside for a defined period and maintain greater discipline around their savings.
- Available periods: 3 months, 6 months, 9 months, 12 months
- Plan your savings. Stay committed to your purpose.
5. COR TargetSave : Education Savings
School Fees Plan
A dedicated plan that ensures school fees never take you by surprise.
- Structure: Contribute monthly; withdraw at the start of each school term or session
- Add-on: Members on this plan may qualify for an education top-up loan at concessionary rates
- Best for: Parents and guardians with school-age dependants
6. COR TargetSave : Festive Savings
Christmas & Special Season Plan
Enter the festive season prepared, not pressured.
- Cycle: January to November, with payout in December
- Optional: Payout may be taken in cash or as a food and commodity package
- Best for: Members who want a debt-free festive season
Your Security Is Our Priority
How Your Savings Are Protected
- Segregated accounts. Members' funds are held in dedicated Society accounts, separate from any other entity.
- Dual authorisation. No disbursement is made without the approval of multiple designated signatories.
- Independent oversight. The Supervisory Committee reviews the books throughout the year.
- Annual external audit. Audited accounts are presented to members at every AGM.
- Full digital trail. Every transaction is time-stamped, recorded and visible in your member portal.
- Statutory reserve. A portion of annual surplus is retained as reserve, in line with the Bye-Laws.
Share In Our Success
Dividends and Patronage Bonus
At the close of each financial year, the surplus of the Society is applied as follows:
- Transfer to Statutory Reserve Fund
- Provision for welfare, education and development funds
- Dividend - paid to members in proportion to their share capital
- Patronage Bonus - paid to members in proportion to their savings and business activity with the Society
Both dividend and patronage bonus rates are proposed by the Management Committee and approved by members at the Annual General Meeting.
Quick Reference Guide
Product Summary
| Product | Purpose | Withdrawal | Own Loan |
Guarantee | Key Rule |
|---|---|---|---|---|---|
| COR CMS Shares | Ownership | No | No | No | ₦1,000 monthly compulsory |
| COR Legacy Savings | Long term savings and borrowing capacity | No | Yes | Your primary guarantee product | You choose your saving amount; Not less than #5000/month; 6 month discipline; up to 200% loan |
| COR TargetSave | Goal based savings | Yes | No | Yes | Reward after successful guaranteed loan |
| COR SureSave Type 1 | Fixed savings | Yes | No | Yes | 3 months |
| COR SureSave Type 2 | Fixed savings | Yes | No | Yes | 6 months |
| COR SureSave Type 3 | Fixed savings | Yes | No | Yes | 9 months |
| COR SureSave Type 4 | Fixed savings | Yes | No | Yes | 12 months |
| COR Quick Fund | Short term financing | N/A | Yes | Yes | 6 months, 5% |
| COR Growth Fund | Medium term financing | N/A | Yes | Yes | 12 months, six-month performance review. Interest-TBA |
| COR Empower Fund | Long term financing | N/A | Yes | Yes | 18 months, six-month performance reviews Interest-TBA |