To join the cooperative, you must be a registered member of Pralarg International or an immediate family member of a Pralarg International member.

What is the required initial deposit to become a member? The initial financial requirements are as follows: • ₦5,000 — Lifetime Membership Fee • ₦1,000 — Development Fee • ₦1,000 — Administrative Fee • ₦10,000 — Share Capital • Minimum of ₦1,000 — Initial savings credit to activate your account

No. Membership of the cooperative is open to all Pralarg International members nationwide, regardless of their state or location.

No. The cooperative operates fully online, and all regular meetings will be held virtually. However, the Annual General Meeting (AGM) will be held once a year and may require physical attendance at the state office.

The cooperative will have elected representatives in each state office to attend to members’ needs. Additionally, support contact numbers will be available on our application and website, which members can reach at any time.

Members may credit their accounts daily, weekly, or at any time, and can make multiple deposits within a month. However, to qualify for an interest-free loan, the cooperative requires at least one savings deposit every month.

Members must complete six (6) months of continuous savings to qualify for loan consideration.

No. All guarantors must be registered members of the cooperative.

Yes. The development fee is paid once every year.

Yes. As your son and immediate family member, he is eligible to join the cooperative. He may register and participate from any location, especially in states where Pralarg International offices are currently established.

Verification will be handled by the elected cooperative representative at your state office, who will physically receive and verify your collateral and assess your income before your loan application is approved.

At the end of each financial year, the cooperative’s surplus shall be distributed in accordance with approved guidelines. Allocations will be made to the following: • Reserve Fund • Education Fund • Prisons Intervention Fund • General Administrative Expenses The remaining surplus will be distributed among member shareholders, strictly based on the number of shares held by each member, irrespective of the month of entry.

Pralarg International members who wish to register their family members should submit the following details to their State Coordinator: • Full name • Age • Contact phone number • Residential address The State Coordinator will document the information and enroll the family member into the cooperative through the official registration process and communication platform.

Members will have access to their accounts through the Pralarg Cooperative Mobile Application, which will be available for download on both the Google Play Store and Apple App Store. Each member will be issued a secure username and password, enabling them to make payments, monitor savings, loan records, and view account statements anytime and from anywhere.

Yes. The cooperative application is being developed by professional IT experts, and reinstallation is simple and secure. In the event of any difficulty, members can visit their state office help desk or contact the dedicated support phone number provided to all members for assistance.

All loan applicants must submit a sworn court affidavit declaring their loan request and expressly authorizing the cooperative to take possession of the pledged collateral should the borrower default on repayment.

Yes. The standard loan duration is one (1) year. However, the repayment will be structured into twelve (12) equal monthly installments, and members are required to pay the scheduled amount every month without default.

In the event of default: • The loan obligation may be recovered from the guarantors • The member may be suspended or expelled from the cooperative • Legal action may be initiated, including court prosecution • The defaulter may be required to pay the full commercial interest equivalent on the loan amount

Disciplinary actions may arise from: • Fraud or attempted fraud • Falsification of collateral or documents • Misconduct • Any act that undermines or works against the interest of the cooperative

Members may benefit from: • Purchase of household items through installment payments • Acquisition of land, properties, motorcycles, and vehicles • Business expansion support • Emergency financial assistance and welfare support

The cooperative generates funds through: • Grants and donations • Voluntary member deposits for cooperative use • Profit-sharing arrangements with members who invest funds Profits generated from these sources are shared fairly with contributing members, in line with cooperative principles.

The cooperative operates primarily on a one-year, non-interest repayment structure. Requests for loan tenures exceeding one year must undergo management review and approval. In such cases, limited interest, stricter conditions, and closer monitoring may apply.

Yes. Nigerians and Pralargians in the diaspora are eligible to join the cooperative. However, diaspora members must appoint a recognized representative based in Nigeria to act on their behalf when necessary. The membership requirements for diaspora members are as follows: • ₦10,000 — Lifetime Membership Fee • ₦3,000 — Development Levy • ₦1,000 — Administrative Fee • ₦10,000 — Share Capital • Minimum of ₦1,000 — Initial savings credit

Yes. A member may serve as a guarantor for more than one loan applicant, provided the guarantor has sufficient financial standing and shares to cover the obligations arising from such guarantees.

No. Collateral is not required for all loans. • Only loan applications of ₦1,000,000 and above require collateral. • All loan applicants, regardless of amount, must submit a sworn court affidavit. The specific content and requirements of the affidavit will be communicated to each applicant at the time of loan application, based on the loan amount requested.

Members may voluntarily withdraw from the cooperative by submitting a formal written notice. Withdrawal applications will be processed within six (6) months of submission, after which all outstanding dues and entitlements will be settled and paid into the member’s account.

Family members who joined the cooperative based on your status as a Pralarg International member will continue to enjoy their cooperative membership benefits, even if you withdraw from the society. Your withdrawal does not affect their status or privileges within the cooperative.

Answer: Pralarg International has dedicated and trusted administrators who are available to assist members and their families with registration and proper management of their accounts.

Answer: Any non-Pralarg member is free to join Pralarg International at any time, even after joining the Cooperative. However, the original referral and family linkage will remain valid, as the individual is still recognized as a family member.

Yes. Members may request and withdraw a specified amount from their savings balance without applying for a loan, subject to the Cooperative’s guidelines.

Yes. A Unit or State Branch may operate a cooperative account to enable collective savings and access to loans, in line with approved Cooperative policies. .