Target Savings:

Not everyone has cultivated the habit to save but we encourage our members to save towards achieving their goals. Our cooperative has provided a suitable means to make
savings easier and interesting by giving our members good returns during and after saving.

Your goals may include, Tuition, Rent, Car/ Automobile, Home Ownership or more.

Note: It’s not advisable to withdraw from your savings account until end of tenure e.g 6months/12months except in rear cases.

Monthly Contribution:

This is a continuous savings plan that offers you up to 30% Dividend +
Bonus annually; gives you access to 200% personal or business loan. Monthly contribution enable you.

Note: Your contribution is secured at Flap Cooperative for as many years you desire to save.

Personal or Business Loan:

The surest way to secure a loan at Flapcoop is by becoming a
member and only members are entitled to loans, either for business or personal. We have structured ways to allow members borrow 5 times the amount they have saved. They only have one requirement to meet and be able to convince us with workable means of paying back their
loans.

You start a membership plan – Refer minimum of 2 persons who are a member of the cooperative with 50% of your savings– Request a loan

Note: Your savings account is different from your loan account
Education Finance: This caters for members that need finance to sponsor their children’s school
fees. This category of Co-operator must have saved up to 12 months.

With this they receive 30%
interest of amount saved to cover education expenses per annum. Tenor and conditions of
academic loans vary on individual basis which is dependent on the membership duration.

Rent Finance:

The wellbeing of our members is also keen to us as a society. With this we have made provision for rent financing opportunities for our members who can demonstrate that they have sure means of paying back within a very short period. This is a shorter duration of our regular
loan at Flapcoop and members who request for rent must have saved a half amount of their requested rent as a Co-operator.

LPO or Project Finance: Businesses need funds to grow and succeed. We would like to associate with the prospect of our members when they need urgent funds to execute contract.
We finance Local Purchase Orders and Supply on behalf of our members at a fair rate subject to
a maximum tenor of three (3) months.

Equipment and Lease Finance:

Members can also access loans to buy home or office equipment or automobile of their choice with only 20% initial down payment. Repayment spread up to 2 years. Comprehensive insurance shall be shared by both the co-operative and the borrower.
To access this loan one must have being a member of the cooperative for at least six months and one must have paid up his share capital contribution and at least one-month savings.

Bulk Purchase:

At Flapcoop, we recognize everyday living expenses as a factor affecting
financial freedom and the success of entrepreneurship. We are therefore committed to being a part of our members’ daily life. Our society operates a ‘members only’ warehouse for the supply of daily needs for children and adults.

We acquire a variety of food items and daily need products for direct supply to members at very large discounts. As a cooperative we enjoy the benefit of bargain purchases with several manufacturers who will deliver their products at reduced rates. This bulk-buying system will
ensure 90% of our products have discounts available only to members at prices unavailable elsewhere, which will as a result free up funds for members savings. We shall also take advantage of manufacturers financing.

Only members on Monthly Contribution plan will be entitled to get a loan

You must have referred 2 people to join the cooperative and should have saved up to 6 months

Your referrals should be able to stand as guarantor for your loan request

Members can take loans valued 200% more of their total services
Personal and business loans help members to save money and repay the loan over a reasonable period of time at a fair and fixed rate of interest.

The repayment will be as agreed and signed by the member

To access any loan member must have been registered with the Cooperative and making regular
contributions for at least six months.

Loans are insured at a specified cost to the eligible member.

Loan attracts 20% interest annually.

All on prorate basis on your monthly or one off contribution to our projects with a minimum of 20k
per month.

Membership registration 2,000

Each member on Target Savings will be rewarded with up to 15% project finance support + your total savings.

Each member on Monthly Contribution will be offered up to 30% Dividend + Bonus annually;

Each member is entitled to the following upon registration:

Save towards your goals (education, rent, projects, family, luxuries and more
Cash out your total savings plus up to 15% shared profit per annum
Multipurpose Customized Membership ATM Card in partnership with Zenith Bank.
Access to Collateral Free Quick Loans
LPOs/Project finance
Community Discount Purchase and more.
Access Trainings and developments

The cooperative shall deliver the under listed to the member upon subscription to the membership
savings plan:

• Deed of Membership
• Membership Certificate
  Insurance Cover for loan request
• Automated pay-out system accountable to the Lagos state ministry of Trade, Commerce
  & Cooperatives.
• Accountable management team
• Government financial and management regulations and audit
• Insurance cover
• Cooperative practices

Please read these terms and Conditions carefully. The Agreement sets out the legally binding
terms and conditions.

Upon subscribing to joining FLAP Multipurpose Cooperative as a member, you hitherto confirm
that you understand and agree to all the terms stated herein.

Mode of Payment
FLAP Multipurpose Cooperative Society Limited (FLACOOP) does not accept payments either
by bank transfer, deposit, cheques, bank drafts, or cash through any Agent, Consultant, or Associate of the company. All payments should be made through the designated payment channels in favor of FLAP Multipurpose Cooperative Society Limited. FLAPCOOP shall not be
liable for any loss due to failure to adhere strictly to these terms and conditions.

Yearly Returns and Profit Sharing
In the event that a members savings has reached the one year target, the member is expected to request for their Capital plus Profit share or Capital only or Profit Share only to be paid to them by sending a notice to Flapcoop through the customer care line of email to support@flapcoop.com

There shall be a 5% Service charge deducted from the profit value to cater for bank and other
charges at the end of the tenue.

Termination
For personal or business reasons, no party shall seek for termination of this Agreement herein BEFORE OR ON the period of 3 months from the effective date of this Agreement. However, a party can send a notice of termination to the other party in writing at least 2 months before the
date of termination And in the event you terminate this Agreement before maturity, you shall forfeit all Profit share accrued upon the saved sum.

Fraud/illegality
The Cooperative shall not be liable for any damages at tort or under criminal code and laws of
the federation for such deposits received from you, which is illegal or questionable.

Right to Update
The Cooperative reserves to update its policies at any given time to cater for changes in industry and market space.

NOTE: Above Product Banners for our savings plan: Remove installment payment should be
replaced with “Start a membership plan”.

FLAP Multipurpose Cooperative Society Limited (FLACOOP) does not accept payments either by bank transfer, deposit, cheques, bank drafts, or cash through any Agent, Consultant, or Associate of the company.

All payments should be made through the designated payment channels in favor of FLAP Multipurpose Cooperative Society Limited . FLAPCOOP shall not be liable for any loss due to failure to adhere strictly to these terms and conditions.