SMCS - FUTMINNA

ABOUT THE SOCIETY

The word “cooperative” literarily means the act of working together willingly. A cooperative society can be seen as a form of organization in which person voluntarily associate together as human beings on the basis of equality for the purpose of promoting their economic interest. It is particularly prevalent among the middle and poorer classes who are financially weak. What they cannot achieve individually is made possible by pooling together their individual resources. The objective is not so much to indulge in large-scale production which earns huge profit but to provide an agency for meeting the economic needs of themselves of course, there are some bio-cooperative organization that have elaborate producing plants or a wide network of marketing agencies. But the majority of cooperative societies function in a small way and confine activities within limited areas.

A Brief History of the Cooperative

Some group of notable members of Staff met and decided on how to go about forming the Cooperative Society in the Campus. The idea was welcomed by the members and machinery was set up on how to form the Cooperative society and get it registered with the Niger State Government for recognition.

Notices were passed round the Campus to enlighten the Staff members and were invited for a general meeting where modalities were set up for the formation of the Society and election of the Officials. The meeting was held at the University Library Complex at Bosso Compus on the 3rd February, 1988 The following members were elected as the 1st set of Executive members of the Society, namely:-


1	Mal. Saidu S. Ndagi	President
2	Mrs. Esther E. Alamojin	Vice President
3	Mr. P. A. E. Ako	Secretary
4	Mal. M. K. Ahmed	Treasurer
5	Mr. I. M. Oche	Store Keeper

Aim & Objectives:

The aim and objective of the Society shall be the promotion of the economic interests of its members and with the following specific objectives:

To engage in purchases and re-sale of essential commodities to members at reasonable prices;
To engage in any other commercial ventures such as Lands, Houses and Vehicles that will from time to time be recommended by the Committee.
To provide facilities for deposits and savings by members;
To enable members to obtain loans for necessary purposes at reasonable interest rate.
To raise funds by issuing shares and contracting loans;
To promote the spirit of savings from members earnings;
To promote co-operative spirit among the members and to encourage the development of the co-operative movement in Nigeria.