COOPERATIVE SOCIETY PROGRAM FREQUENTLY ASKED QUESTIONS

Q: What is the Cooperative Society Program?

A: ZingerPay's Cooperative Society program is designed around enabling a seamless savings and investment habit.
The program is founded upon the following cooperative principles stated by the National Cooperative Business Association:
1. Voluntary and Open Membership
Cooperatives are voluntary organizations, open to all people able to use its services and willing to accept the responsibility of membership, without gender, social, racial, political, or religious discrimination.

2. Democratic Member Control
Cooperatives are democratic organizations controlled by their members, those who buy the goods or use the services of the cooperative – who actively participate in setting policies and making decisions.

3. Members Economic Participation
Members contribute equally to, and democratically control, the capital of the cooperative. This benefits members in proportion to the business they conduct with the cooperative rather than on the capital invested.

4. Autonomy and Independence
Cooperatives are autonomous, self-help organizations controlled by their members. If the co-op enters into agreements with other organizations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the cooperative’s autonomy.

5. Education, Training, and Information
Cooperatives provide education and training for members, elected representatives, managers, and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.

6. Cooperation Among Cooperatives
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional, and international structures.

7. Concern for Community
While focusing on member needs, cooperatives work for the sustainable development of communities through policies and programs accepted by the members.


The program offers the following benefits:
  • Reduced fees for your International Money Transfers
  • Access to Cooperative Society Mutual Fund Savings Accounts
  • Access to Cooperative Society Agricultural Investment Programs
  • Access to Cooperative Society Loans




Q:What is required to participate?

A: A Membership Fee of Five Dollar (5.00 USD) is required to participate.



Q: How do I pay for transactions?

A: ZingerPay offers the following payment methods
a) Payment through our Email address (Online Banking): This is our preferred payment method.
This method requires the use of your bank Send Money feature offered through www.zellepay.com.
Once we provide you with our payment email address, you will set up the payment through your bank onliine banking system.
You may visit Zellepay site through the link provided below to learn more about Zelle.
   Find Out About Zelle
b) Complete an E-Check Online:You can securely enter your bank details online through our third-party payment processor's website, to directly process the charges through your bank account. To successfully use this feature, we would require an image of your voided check on file for verification purposes only.
c) Debit My Bank Account:You can provide authorization for a debit through your bank account by completing an ACH Authorization form. This option requires an image of your voided check and a completed ACH Authorization form to complete the transaction.



Q: Will I have online access to my Mutual Fund Account in Nigeria?

A: Yes: Your mutual fund account can be accessed online through the Money Manager's Web Portal. You will also receive Account Statements from the Money Manager.
Request for withdrawal from your Mutual Fund account is made directly to the Money Manager and can be deposited into the bank account of your instructin.
** Your personal Mutual Fund Account is held at AXA Mansard.

About AXA Mansard:
AXA Mansard is quoted on the Nigerian Stock Exchange and is a subsidiary of AXA, a global French headquartered insurance and Asset management Company.
AXA Mansard PLC will provide online access to your account also issue you statement of accounts.

Download Cooperative Society Program Overview Brochure


Q: What is a BVN Number?

A: The Bank Verification Number commonly called BVN is a biometric identification system implemented by the Central Bank of Nigeria to curb or reduce illegal banking transactions in Nigeria.
While it is not mandatory for a Cooperative Society Account, it is hisghly advisable to obtain one as it is becoming increasing neccesary in order to transact any business activity in Nigeria.

The following BVN Centers are located in the USA
  • Washington DC, USA
    11900 Park Lawn Drive,
    Suite 160, Rockville MD
    Tel: +1860 929 8995
  • Atlanta, USA
    Suite 204, 918 Holcomb bridge Road, Roswell,
    Atlanta, GA 30076
    Tel: +1 860 929 8995
  • New York
    OIS Services Brooklyn, New York
    Tel: +1 860 929 8995
  • Houston
    Suite 745, 9894 Bissonnet Street,
    Houston, TX 77036
    Tel: +1 713 771 1871
  • Los Angeles
    OIS Services
    11001 South Broadway,
    Los Angeles. CA 90061
    Tel: +1 860 929 8995
  • San Francisco
    VFS Global (BVN Enrollment Centre)
    50 California Street, Suite 1500 San Francisco, CA 94111.
    Email ID – bvninfousa@vfsglobal.com or bvnfeedbackusa@vfsglobal.com




Q: What if I still have further questions about the Cooperative Society Program?

A:
Email Us:: zingerpay@zingerpay.com
Chat with Us: Select the Chat Box to discuss with us.
Join our weekly Webinar:Join our weekly overview webinar online
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