About – INEC CMS

About

Our history

The idea that culminated into what is now known as the INEC Delta Staff Multi-purpose Co-operative Society Limited was the brainchild of Mrs. Rita Osemeke-Odita and Mr. Ayodele Sunday in 2005 when things were falling apart for members of staff. The idea of a Co-operative Society was sold to Management and was approved during the management meeting of the last quarter of 2005. After contacts and advice, an inaugural meeting which was supervised by Mr. Idoghor johnson, a representative of Director of Co-operatives , Delta State Ministry of Trade and Investment took place in January, 2006 which produced the following officers:

Ayodele Sunday (President)

Benjamin Ayogbe (Vice President)

Henrietta Uchunor (Treasurer)

Rita Osemeke (Secretary)

The first deductions were (savings) made in May, 2006 while the first set of loans were granted in August, 2006.

Formation

The Multipurpose Co-operative Society was established in 2006 and registered under the Ministry of Trade and Investment of the Delta State Government.

To encourage co-operative investment in order to improve on the social, economic and living standard of Members.

To create funds to be lent to its members at fair and reasonable interest rates; approved by the general body.

To invest its funds not immediately required for business in commercial, ventures, household equipments and real estate concern.

To raise capital within and from outside bodies in the legitimate pursuance of its objectives as proposed by the General body and approved by the Director of Cooperatives.

To provide facilities for regular thrift savings by Members.

To encourage members to plan for their retirement through participation in a contributory Pension Saving Scheme.

To borrow money from any source proposed by the Executive Committee and approved by the Director of Co-operative Services for the productive purpose and benefit of Members.

Any other measure designed on co-operative principle for the benefit of Members.

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