Join Us +234(0)803-154-0444 contactus@nimetkanocoop.org

Our Cooperative Story

  1. Home
  2. About Us
NMCS Cooperative Members Meeting NMCS Cooperative Office

Our Cooperative Journey

12 Years of Empowering Members Through Collective Growth

Founded in 2010, NiMet Multipurpose Cooperative Society began as a small group of 15 colleagues at the Nigerian Meteorological Agency (NiMet) in Kano who envisioned a better way to achieve financial security. What started as a modest savings club has grown into a thriving cooperative with over 120 active members from diverse professional backgrounds.

Our growth has been guided by seven core cooperative principles: voluntary membership, democratic control, member economic participation, autonomy and independence, education and training, cooperation among cooperatives, and concern for community. These principles ensure we remain member-focused while contributing positively to Kano's economic landscape.

₦150M+ in loans disbursed

87 members became homeowners

94% member satisfaction rate

₦25M in annual dividends

Join Our Community
Member Testimonial Member Testimonial Member Testimonial Member Testimonial

120+ Active

Members

150

M+

Loan Awarded

12

+

Years Of Experience

120

+

Team Members

Our Journey

Milestones in Cooperative Excellence

From humble beginnings to becoming a leading cooperative in Kano, our journey reflects our commitment to member empowerment.

2010: Foundation

Founded by 15 NiMet employees with initial capital of ₦1.5 million. Established our first office space in Kano Metropolis.

2012: First Expansion

Opened membership to non-NiMet professionals. Disbursed our first major loan of ₦5 million to support member businesses.

2015: Real Estate Program

Launched cooperative housing scheme, helping 12 members become first-time homeowners through collective purchasing.

2018: Financial Services

Introduced investment products including treasury bills and corporate bonds. Reached ₦50 million in member savings.

2020: Digital Transformation

Launched member portal for online transactions. Survived pandemic challenges with 0% loan defaults through member support programs.

2023: Current Status

120+ active members, ₦150M+ in loans disbursed, and ₦25M in annual dividends paid. Expanded to offer business development training.

Our Cooperative Identity

More Than Just Financial Services

We are a community built on trust, shared values, and mutual success

Our Structure

NiMet Multipurpose Cooperative Society operates as a member-owned financial cooperative registered under the Kano State Cooperative Laws. Our governance structure includes:

  • General Assembly: All members meet annually to set policies
  • Board of Directors: 7 elected members oversee strategy
  • Credit Committee: 5 members review loan applications
  • Supervisory Committee: 3 members ensure compliance
  • Management Team: Day-to-day operations

This structure ensures democratic control while maintaining operational efficiency.

Our Values

These core values guide every decision we make:

Integrity

We maintain transparency in all transactions and communications with members.

Solidarity

We stand together as members, supporting each other through financial challenges and opportunities.

Innovation

We continuously improve our services to meet evolving member needs.

Sustainability

We ensure long-term viability while creating immediate member value.

Our Impact

Beyond financial metrics, we measure success by member outcomes:

87 Families Housed

Through our real estate programs since 2015

42 Businesses Supported

With loans and financial counseling

Annual Financial Literacy

Workshops for all members

₦25M in Dividends

Distributed to members in 2022

Our Purpose

Why We Exist

Our mission and vision guide every service we offer and decision we make

Our Mission

"To empower our members through innovative financial services that foster economic growth, asset security, and community development. We promote collaboration and trust to enhance financial well-being while contributing to sustainable socio-economic progress in Kano and beyond."

This mission drives us to:

  • Provide accessible financial products tailored to member needs
  • Educate members on financial management
  • Create wealth-building opportunities through collective action
  • Maintain ethical standards in all operations

Our Vision

"To be the leading cooperative society in Northern Nigeria recognized for transforming members' lives through comprehensive financial solutions and community development initiatives."

Our vision focuses on:

  • Expanding services to meet evolving member needs
  • Leveraging technology for better service delivery
  • Building partnerships that enhance member value
  • Maintaining financial sustainability for generations

We measure our progress through member success stories and community impact.

Our Roadmap

Strategic Objectives

Clear goals that shape our services and member benefits

Financial Empowerment

Provide members with affordable credit, loans, and savings opportunities that foster financial independence. Our loan products have helped members:

  • Start or expand 42 businesses
  • Fund 87 home purchases
  • Cover 120+ education expenses
  • Manage 65 medical emergencies

Real Estate Access

Offer members opportunities to invest in residential and commercial properties through:

  • Cooperative housing schemes (20 units completed)
  • Land banking programs (15 acres secured)
  • Commercial property co-ownership
  • Property management services

Our bulk purchasing power saves members an average of 25% on property costs.

Savings Culture

Cultivate financial discipline through various savings programs:

  • Daily Savings: From ₦500/day
  • Target Savings: For specific goals
  • Retirement Plans: Long-term security
  • Education Funds: For children's future

All savings earn 5% annual interest, significantly higher than commercial banks.

Economic Well-being

Promote sustainable growth through diverse financial products:

  • Low-interest loans (5-10% APR)
  • Investment opportunities
  • Insurance partnerships
  • Business development training

94% of members report improved financial stability within 2 years of joining.

Community Development

Contribute to society through various initiatives:

  • Annual scholarship program (12 beneficiaries)
  • Healthcare outreach (4 clinics supported)
  • Food banks during Ramadan
  • Skills acquisition programs

We allocate 5% of annual profits to community projects.

Transparency & Integrity

Operate with the highest ethical standards:

  • Quarterly financial reports to members
  • Annual independent audits
  • Clear loan approval criteria
  • Democratic decision-making

Our transparent operations have earned us a 98% member trust rating.

Member Questions

Frequently Asked Questions

We've compiled answers to the most common questions from current and prospective members. If you don't find what you're looking for, our support team is always ready to help.

Need More Help?

Our member support team is available:

Monday-Friday: 8am - 5pm

+234 803 154 0444

contactus@nimetkanocoop.org

Membership is open to all Nigerian residents aged 18+. The process involves:

  1. Complete the membership application form
  2. Provide valid ID (National ID, Driver's License, or International Passport)
  3. Pay the ₦5,000 registration fee
  4. Purchase minimum ₦10,000 in shares
  5. Attend a brief orientation session

Approval typically takes 3-5 working days. Many members join through referrals from existing members.

Our loan requirements ensure responsible lending while being member-friendly:

  • Membership Duration: Minimum 3 months (6 months for larger loans)
  • Savings Record: Regular contributions (minimum ₦5,000 monthly)
  • Guarantors: 2 fellow members in good standing
  • Loan Purpose: Clearly stated in application
  • Maximum Amount: 3x your total savings + share capital

First-time borrowers are limited to ₦500,000 maximum. Loan approval takes 5-7 working days.

Our real estate program offers several pathways to property ownership:

  • Cooperative Housing: Groups of 5-10 members pool resources to purchase land and build quality homes at 20-30% below market rates
  • Land Banking: The cooperative acquires land in developing areas, which members can purchase in installments
  • Rental Properties: Income-generating properties owned collectively by members

Current projects include a 20-unit estate in Tarauni and commercial spaces in Kano's business district. Minimum participation is ₦500,000.

As a cooperative, we distribute profits differently than commercial banks:

  • Dividends on Shares: 60% of profits distributed based on shareholding
  • Patronage Refund: 30% returned based on usage of cooperative services
  • Community Fund: 5% allocated to community development projects
  • Reserve Fund: 5% retained for cooperative growth and stability

In 2022, we distributed ₦25 million to members, with average payouts of ₦208,000 per member.

Member funds are safeguarded through multiple measures:

  • Regulatory Compliance: Registered with Kano State Ministry of Commerce
  • Insurance: Deposits insured up to ₦5 million per member
  • Audits: Annual audits by independent firms
  • Reserve Fund: 10% of assets held in liquid reserves
  • Transparency: Members can review financial statements

In our 12-year history, no member has lost savings due to cooperative operations.

Leadership

Meet Our Dedicated Team

Elected by members to guide our cooperative's vision and operations

Chairman

Bala Stephen

Chairman

15 years cooperative experience

Secretary

Abimbola Ola

Secretary

Former bank manager

Treasurer

Mohammed K

Treasurer

CPA with 12 years experience

Auditor

H. Rosemary

Auditor

Forensic accounting specialist

Our Committees

Additional elected members serve on important cooperative committees that ensure smooth operations and member satisfaction.

Credit Committee

Reviews all loan applications and ensures fair access to credit for qualified members.

Supervisory Committee

Provides oversight of cooperative operations and financial management.

Real Estate Committee

Identifies and evaluates property investment opportunities for members.

Community Committee

Organizes charitable initiatives and community development projects.

Member Experiences

What Our Members Say

Real stories from members who have transformed their financial situations through our cooperative services.

Amina's Testimonial
Amina Suleiman

Textile Merchant

The NiMet Cooperative loan helped me expand my textile business from one shop to three within two years. What I appreciate most is their personalized approach - they didn't just give me money but also connected me with other members who became my best customers. My revenue has increased by 300% since joining.

Member since 2015

Musa's Testimonial
Musa Abdullahi

Civil Servant

Through the cooperative's real estate program, I became a homeowner in 2020. We pooled resources with 9 other members to purchase land at wholesale prices, then cooperatively built quality homes at 30% below market cost. The process was transparent, and now I live in my dream house while building equity.

Member since 2012

Theophilus's Testimonial
Theophilus Martins

Secondary School Teacher

As a teacher, I never thought I could invest meaningfully until joining NiMet Cooperative. Their investment club helped me start with just ₦20,000 monthly. Five years later, my portfolio is worth over ₦3.5M generating passive income. The financial literacy workshops changed my money mindset completely.

Member since 2017

Join Our Community of Satisfied Members

94% of our members report improved financial stability within 2 years of joining

Become a Member Today

Newsletter

Stay updated with the latest news, updates, and exclusive offers from NiMet Multipurpose Cooperative Society, Kano! Join our community today!

Explore

Home Services About Us FAQ testimonial Our Team Contact Us

Contact Info

Mallam Aminu Kano Int'l Airport, Kano contactus@nimetkanocoop.org contactus@nimetkanocoop.org 234(0)803-154-0444 234(0)803-154-0444
nimetkanocoop.org, All right reserved.
Designed By Tecspectra