The Yellow Machine Cooperative Society provides affordable loan facilities designed to support members in meeting personal, family, educational, and financial needs.
Our loan programmes are structured to provide members with access to credit at competitive rates while promoting responsible borrowing and financial stability.
All loan applications are subject to eligibility requirements, approval processes, and Cooperative policies.
Sixty percent (60%) of the declared dividend is allocated based on members' loan repayment activities during the financial year (January - December).
This portion rewards members whose borrowing activities generated income for the Cooperative through interest payments.
Eligible Loan Types
Loan repayments made under any of the following facilities qualify:
Long-Term Loan (LTL)
Short-Term Loan (STL)
Asset Finance (AF)
Eligible Amount
The calculation is based on the total amount repaid, comprising:
Principal Repayment
Interest Paid
Calculation Method
Each eligible member receives a proportion of the Loan Dividend Pool based on the value of their total loan repayments compared to the total loan repayments made by all eligible members.
Formula
Member's Loan Dividend
= (Member's Total Loan Repayment ÷ Total Loan Repayment of All Eligible Members) × Loan Dividend Pool
Example
Assume:
Total Dividend Declared = ₦10,000,000
Loan Portion (60%) = ₦6,000,000
Total Loan Repayment by all Members = ₦1,200,000,000
Member A repaid a total of ₦6,000,000 (Principal + Interest).
Loan Dividend: (₦6,000,000 ÷ ₦1,200,000,000) × ₦6,000,000 = 0.005 × ₦6,000,000 = ₦30,000
Member A therefore earns ₦30,000 from the Loan Dividend Pool.
Rebate applies to eligible loan facilities liquidated between 50% and 75% of the approved tenure in accordance with the Cooperative Loan & Credit Policy.