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Terms & conditions

Terms and Conditions of Membership and Service

Effective Date: 1st August 2025

1. Introduction and Acceptance
Welcome to E and B Cooperative Society Limited ("the Society," "we," "us," or "our"). These Terms and Conditions ("Terms") govern your membership and use of our financial services, including but not limited to savings, loans, and any other products offered through our platform, offices, or digital channels (collectively, the "Services").

By applying for membership, accessing our website (ebgrowthfund.com), using our mobile applications, or utilizing any of our Services, you acknowledge that you have read, understood, and agree to be legally bound by these Terms, our Privacy Policy, and the Society's By-laws. If you do not agree to these Terms, you must not use our Services or apply for membership.

2. Definitions

  • "Platform" refers to the E and B Cooperative Society Limited website, mobile applications, USSD codes, and any related digital interfaces.

  • "Member" refers to any individual duly registered and accepted into the membership of the Society.

  • "User" refers to any individual accessing or using the platform, including Members.

  • "Services" refers to all financial and cooperative offerings provided by the Society, including savings, loans, investments, and transaction processing.

  • "Account" refers to your individual membership account with the Society.

3. Eligibility and Membership

  • You must be at least 18 years old and have the legal capacity to enter into a binding contract under Nigerian law.

  • Membership is contingent upon:

    • Completion of the official membership application form.

    • Payment of a non-refundable Membership Application Fee and the first Annual Membership Dues as prescribed by the Society's management and approved by the governing committee.

    • Successful verification of your identity, including provision of a Bank Verification Number (BVN), valid government-issued ID, and proof of address in accordance with CBN KYC regulations.

  • The Society reserves the right to accept or reject any application for membership at its sole discretion.

4. Member Responsibilities and Account Security

  • Accuracy of Information: You warrant that all information provided to the Society is accurate, current, and complete. You must promptly update your information in the event of any change.

  • Account Security: You are solely responsible for:

    • Maintaining the confidentiality of your login credentials, PINs, and passwords.

    • All activities that occur under your account.

    • Immediately notifying the Society at info@ebgrowthfund.com of any unauthorized access or use of your account. The Society shall not be liable for any losses arising from your failure to secure your credentials.

  • Prohibited Activities: You agree not to use the Services for any illegal or unauthorized purpose, including but not limited to:

    • Fraud, money laundering, or financing of terrorism.

    • Uploading or transmitting viruses or malicious code.

    • Attempting to gain unauthorized access to the Society's systems or another member's account.

    • Any activity that disrupts or interferes with the Services.

5. Services, Fees, and Financial Terms

  • Savings and Contributions: Members agree to contribute regularly as stipulated by their chosen savings plan. Terms and conditions for each savings product are detailed in separate product-specific agreements.

  • Loan Applications: Eligibility for loans is strictly based on:

    • A Member's savings history and financial contribution to the Society.

    • Creditworthiness assessments, which may involve checks with licensed credit bureaus as permitted by law.

    • Adherence to the Society's lending policies and the terms of the specific loan agreement.

  • Fees and Charges:

    • Members shall pay all prescribed fees, including but not limited to Annual Membership Dues, which are mandatory for maintaining active membership status.

    • All transaction fees, management fees, and loan processing fees will be communicated transparently prior to the execution of any transaction. Your use of a service constitutes acceptance of its associated fees.

6. Intellectual Property Rights
All content, logos, trademarks, graphics, and software on the Platform are the exclusive property of E and B Cooperative Society Limited or its licensors and are protected by Nigerian and international intellectual property laws. You are granted a limited, non-exclusive, non-transferable license to use the Platform solely for the purpose of accessing the Services.

7. Limitation of Liability

  • The Society shall not be liable for any indirect, incidental, special, consequential, or punitive damages resulting from your use of or inability to use the Services.

  • The Society does not guarantee uninterrupted or error-free service and shall not be liable for temporary service unavailability due to technical maintenance, system failure, or factors beyond our reasonable control.

  • The Services are provided on an "as is" and "as available" basis without warranties of any kind, either express or implied.

8. Termination

  • The Society reserves the right to suspend or terminate your membership and access to the Services immediately, without notice, for any breach of these Terms, fraudulent activity, or for any other reason that jeopardizes the interests of the Society or its members.

  • Upon termination, all outstanding debts (including loans and accrued fees) owed to the Society become immediately due and payable.

9. Governing Law and Dispute Resolution

  • These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

  • Any dispute arising from these Terms shall be resolved amicably through mediation. If mediation fails, the dispute shall be referred to arbitration in accordance with the Arbitration and Conciliation Act of Nigeria. The seat of arbitration shall be Niger State, Nigeria.

10. Amendments
The Society may amend these Terms at any time. We will notify Members of material changes via email or a prominent notice on our Platform. Your continued use of the Services after such notification constitutes your acceptance of the revised Terms.

11. Contact Information
For any questions regarding these Terms and Conditions, please contact us at:

E and B Cooperative Society Limited
Registered Office: Opposite AA Rano Fuel Station, Suleja, Niger State, Nigeria.
Email: info@ebgrowthfund.com (Primary) / ebgrowthfund@gmail.com
Phone: +2348104711125

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