Terms & Conditions

These terms govern your membership of the IDL Staff Cooperative Multipurpose Society Limited(“the Society”, “we”, “us”) and your use of the member app, this website and the services offered through them. By joining the Society, setting up your account or using any service, you accept them.

The Society is governed by its registered by-laws and the resolutions of its members in general meeting. Where these terms and the by-laws conflict, the by-laws prevail. Specific product terms — a loan agreement, a guarantor undertaking, a commodity payment plan — prevail over these general terms for that transaction.

Read these terms alongside our Privacy Policy, which explains how we handle your information.

• Membership is open to confirmed employees of Intercontinental Distillers Limited and continues only while you remain in that employment, subject to the by-laws on exit.
• Your PF number identifies you within the Society. It links your savings, loans, commodity purchases and dividends, and it is what you sign in with.
• Membership requires payment of the entrance fee and the acquisition of shares as prescribed by the by-laws, and a commitment to save monthly by payroll deduction.
• The committee may decline an application, and may suspend or terminate a membership, in accordance with the by-laws.
• Membership is personal. You may not transfer it, your savings balance or your borrowing entitlement to anyone else.

You must keep your contact details current. Notices we send to your registered phone number or email are treated as delivered, and a missed notice is not a defence to a missed obligation.

First-time setup verifies your PF number against the phone number we hold, sends a one-time code, and then asks you to choose a six-digit PIN. Your account is bound to the device you set it up on.

Your responsibilities

• Keep your PIN secret. Do not write it down where it can be found, reuse an obvious sequence, or share it with anyone — including anyone claiming to be from the Society. We will never ask you for your PIN or your one-time code.
• Enable biometric sign-in only on a device where your own fingerprint or face is the one enrolled.
• Tell us immediately at support@idlcooperativesociety.com if your phone is lost or stolen, if your registered number changes, or if you suspect someone else has used your account.
• Accept that anything done with your PIN on your bound device is treated as done by you, unless you have already reported the compromise or we are at fault.

We may suspend access without notice where we reasonably suspect fraud, unauthorised access or a security risk to the Society, and will tell you as soon as we can.

• You authorise the Society to instruct IDL payroll to deduct your agreed monthly contribution from your salary and credit it to your cooperative savings account. The minimum contribution is ₦15,000 per month, or such other minimum as the members resolve.
• Your balance is a claim on the Society, not a bank deposit. The Society is not a bank and its savings are not covered by deposit insurance.
• To change your monthly amount, submit a savings change request in the app. It takes effect only once approved and applied to the following payroll cycle — you may hold one pending request at a time.
• Where a deduction fails or is short because of unpaid leave, suspension or a payroll error, the shortfall remains due and is recovered from the next available deduction.
• Statements and transaction history are available in the app. Check them and raise any discrepancy with the Member Services Desk within 30 days of the entry.

Loans are made from the members’ shared fund, on the terms set by the committee under the by-laws and subject to the funds available.

Interest

A flat rate of 2.5% per month on the principal, or such other rate as the Society publishes from time to time. The rate applied to your loan is the rate in force on the date it is approved.

Pricing

The total repayable and the monthly instalment are calculated and shown on your application once it has been submitted and priced. Figures shown before approval are indicative.

Guarantors

Two eligible fellow members must accept your request before the application proceeds. See clause 6.

Deduction cap

Total monthly deductions — savings, loan instalments and commodity instalments combined — will not exceed 33% of your net salary. An application that breaches the cap is reduced or declined.

Repayment

By monthly payroll deduction over the agreed duration, starting with the first payroll cycle after disbursement.

Early repayment

You may settle a loan early. Because interest is charged on a flat basis, early settlement does not automatically reduce the total interest unless the committee approves a rebate.

Application, approval and reactivation

• Submitting an application is a request, not an entitlement. Approval is at the committee’s discretion, and it may approve a lower amount or a different duration than you asked for.
• You must confirm the declaration on the application. Giving false or misleading information is grounds for refusal, for recall of a disbursed loan, and for disciplinary action under the by-laws.
• A rejected application may be reactivated by the Society for correction. You must re-affirm the declaration and resubmit it; the reactivated application replaces the original.
• The loan agreement generated on approval records the binding terms of that particular facility.

If you fall behind

Where an instalment is missed, the outstanding balance may be recovered from your savings, from any dividend due to you, from your terminal benefits, and from your guarantors — in the order and manner permitted by the by-laws. Persistent default may be reported to the general meeting and may lead to suspension of borrowing rights.

Guaranteeing another member’s loan is a financial commitment, not a courtesy. Before you accept, the app shows you the Society’s guarantor undertaking in full; you must expressly agree to it, and the exact wording you agreed to is recorded against the request.

• If the borrower defaults, you are liable for the outstanding amount you guaranteed, and the Society may recover it from your savings, dividends, salary deductions or terminal benefits.
• Your guaranteed exposure is counted against your own borrowing capacity for as long as the loan is live. Guaranteeing may reduce what you can borrow.
• You cannot withdraw a guarantee once the loan has been disbursed. It ends when the loan is fully discharged.
• You may decline any request, for any reason, without explanation. A declined request has no effect on you.
• Eligibility to guarantee is checked at the time of the request, and the Society may refuse a guarantor whose own commitments are already extended.

• The Society supplies listed household items on interest-free monthly instalments deducted from payroll. Prices, available items and payment plans are those shown in the app at the time of your application, and stock is limited.
• A purchase application is subject to approval and to the same 33% net-salary deduction cap as loans.
• Ownership of the item passes to you only when the final instalment is paid. Until then you may not sell, pledge or dispose of it.
• You bear the risk of loss or damage from the moment the item is delivered to you. An outstanding balance stays due even if the item is lost, damaged or stolen.
• Manufacturer warranties pass to you and are claimed against the manufacturer or supplier. The Society is a purchasing channel, not the manufacturer, and does not extend a separate warranty.
• Inspect an item on delivery and report any defect or shortage to the Member Services Desk immediately.

Any surplus the Society records for a financial year is applied as the by-laws require — to the statutory reserve and other funds first — and the remainder is distributed to members as approved by the annual general meeting.

• Dividends are declared annually and are never guaranteed. A year may produce no distributable surplus.
• Your entitlement is calculated on your shareholding and savings over the year, on the basis the general meeting approves.
• The Society may set off any amount you owe — loan arrears, commodity instalments, a called guarantee — against a dividend before paying it.

You may withdraw from the Society by written notice in the manner and period the by-laws prescribe. Membership also ends when your employment with IDL ends.

• All outstanding obligations become immediately due: loan balances, commodity instalments and any guarantee that has been called.
• The Society will set off what you owe against your savings, shares and any dividend due, and pay you the net balance.
• Where you stand as guarantor on a loan that is still live, settlement of your account may be withheld to the extent of that exposure until the loan is discharged.
• Refunds are made within the period the by-laws allow, after the accounts for the relevant period have been reconciled.

We grant you a personal, non-transferable licence to use the member app for your own membership. You must not:

• Access, or try to access, another member’s account or data.
• Submit false, forged or misleading information in any application or declaration.
• Reverse-engineer, decompile, tamper with or automate access to the app, the website or our systems.
• Interfere with the service’s operation or security, or attempt to circumvent authentication, rate limits or deduction caps.
• Use the service for any unlawful purpose, or in breach of IDL’s own policies.

The Society’s name, emblem, content and software remain its property. Nothing here transfers any intellectual property to you.

We work to keep the app and this website available, but they may be interrupted for maintenance, upgrades or reasons outside our control. Access to the app is not a condition of your membership rights — those come from the by-laws.

Balances, projections and figures displayed in the app are provided in good faith and may be pending reconciliation with payroll. Where a displayed figure conflicts with the Society’s audited books, the books prevail, and we will correct any error in your favour or against it once identified.

Nothing in these terms limits liability that cannot lawfully be limited, including liability for fraud or for death or personal injury caused by negligence.

Subject to that, the Society is not liable for loss arising from your failure to keep your PIN or device secure, from delays or errors in payroll processing outside our control, from a network, SMS or device failure preventing delivery of a code or notification, or for indirect or consequential loss. Our liability in connection with any service is limited to the amount directly involved in the transaction complained of.

We may amend these terms to reflect changes in the by-laws, the law, or how the Society operates. The effective date at the top shows the current version. Material changes will be notified in the app or by email before they take effect, and continuing to use the services afterwards means you accept them. Terms already fixed in a signed loan agreement or accepted guarantor undertaking are not changed retrospectively.

Start with the Member Services Desk — most issues are a reconciliation matter and are resolved there. If that does not settle it, the by-laws provide for the dispute to be referred to the committee and, failing that, to the resolution procedure applicable to registered cooperative societies.

These terms are governed by the laws of the Federal Republic of Nigeria, and the courts of Nigeria have jurisdiction over any dispute that cannot be resolved as above.

Member Services

support@idlcooperativesociety.com

Hours

Monday to Friday, 9am–4pm.

In person

The Member Services Desk, IDL Staff Cooperative Multipurpose Society Limited, at the IDL premises.