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Who can join NAMACS?
Any staff of NAMA is eligible to join this Cooperative
What is the minimum savings required by each member?
The minimum amount to save monthly is N10,000. However, this is subject to change based on the unanimous decision of the house.
How is deductions gotten?
Deductions are made from "source". This is done from NAMA HQ.
What is Venture?
This is the business arm of the Cooperative that procures food items, electronics and house hold items. Every member has a share of N60,000. At the end of the financial year, the profit realized is shared amongst members.
When and Where do Annual General Meetings (AGM) hold?
Annual General Meetings are held after the end of the Financial Year (December 31st). The date is announced by the Executives.
Typically holds in January in Minna Airport.
What makes a member eligible to apply for loans?
Short Term Loans & Soft Loans: 3 months after joining
Proper Loans: 6 months after joining and half of the requested loan in the savings of the member (requirement)
What are the types of Loans?
Short Term Loans: 3 months deductions
Soft Loans: 2 months deductions
Proper Loans: up to 24 months deductions
Venture:
Loans at 3 months deductions: 7%
Loans> 6 months deductions: 10%
Account details of NAMACS
0006055346
NIGERIAN AIRSPACE MANAGEMENT AGRIC COOP SOCIETY
STANBIC IBTC
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