Please read these Terms of Use, Contribution and General Risk Disclosure Carefully before you join, save and/or invest with us.

This agreement outlines the terms and conditions (the “Terms”) between you (a “Contributor”, “you”) and SUBA Thrift & Credit Cooperative Limited (“SUBA Cooperative”, "SUBA Cooperative Ltd", the “Cooperative”, “we”, or “us”) under which you vonluntarily agree to join the Cooperative as a nominal member and financially Contribute towards our business objectives as stated under the Summary of Service below through our website, bank transfer, direct bank deposit, a third party banking agent, web and mobile application (the “Platform”) which set forth the legally binding terms and conditions for your contribution (the “Contribution”) and use of the services (the “Service”) offered by SUBA Thrift & Credit Cooperative Society Limited and the website at www.subaonline.org and the third party services. It is important that you read these Terms carefully.

In these Terms, we refer to those contributing funds as “Contributor(s)”, those who represent us as “Agents” and people who have opted in to only receive updates from the Cooperatives’ operations as “Prospects”. Other users of the Service and visitors to the Site are referred to collectively as “Users.” Information about happenings and progress reports on the Cooperatives’ operations are referred to as “updates”. A “Contribution Plan” refers to the time frame between the state date when the contribution plan started and the date the contribution plan gets matured (End Date).

We strongly recommend that you seek independent advice when considering whether to Contribute towards our business objectives with your money using any of the aforementioned means. We do not provide any advice, nor do we make any recommendations to you.

The Cooperative solely allows you to Contribute towards our business objectives under the plans advertised on the Platform. It is your responsibility to assess whether the Platform is suitable or appropriate for your needs and any decision made to use our Services is done entirely at YOUR OWN RISK.

Please be aware that execution of these Terms does not imply that we have confirmed that use of the Platform and our Services are suitable or appropriate for you. We advise you to consider whether contributing to our business objectives through the Platform or any of the aforementioned means meets your required risk levels and objectives, and you should only commit such funds that you are able to financially bear the risk of losing considering your other financial commitments.

By Contributing, you confirm that you did do so voluntarily knowing the risks and you have the necessary experience and knowledge to understand the risks involved. You confirm your agreement to these Terms either by registering (signing up) as a Contributor on our website or through an agent or by signing a physical copy of these Terms.

By continuing on our Platform, you agree to the following terms together with the Terms of Use, consent to our privacy policy, agree to transact business with us and receive communications relating to the contributions electronically.

This website - www.subaonline.org, brand name and identity - SUBA CAPITAL is owned and managed by SUBA Thrift & Credit Cooperative Society Limited.

Your access to use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service and all applicable laws and all conditions or policies referenced here (collectively, the “Terms of Use, Contribution and General Risk Disclosure”). By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Service and that the Cooperative may use any information the Cooperative obtains about you in accordance with the provisions of the Privacy Policy.

SUBA Thrift & Credit Cooperative Society Limited is a registered and licensed Thrift & Credit Cooperative entity with License Number: 00113687.
SUBA Cooperative Ltd is Licensed to collect thrift savings and investment contributions towards our business objectives as well as to disburse micro loans and receive loan repayments under the Nigerian Cooperative Act (2004) with its operating address at 59c , I.C.E Road off Wire Road, Benin City with liason offices in major cities of choice across the country.

SUBA Thrift & Credit Cooperative Society Limited is the microfinance arm of SUBA Capital & Business Solutions Limited (RC:1667690) a registered private company with Corporate Affairs Commission (CAC) under Company and Allied Matters Act (CAMA) 2004 (as reviewed) operating at 10, Hughes Avenue, Alagomeji Yaba, Lagos and 45, Evo Road, GRA Phase 2, Port Harcourt. SUBA Cooperative Ltd provides contributors the opportunity to contribute towards;
1. Agricultural Undertaking (Farming).
2. Micro Financing (Thrift Savings & Credit Lending Operations).
3. Trade and distribution of consumer commodities.
4. Real Estate Development and
5. Other Investment class as deemed fit by the management committee.

We use the contributors’ (“Contributor”) funds to secure farm land, engage farm workers, plant seeds, insure farm workers and farm produce, complete a full farming cycle, sell harvests, as well as use the said funds to engage in mirco lending, trade and distributions of agricultural commodities, consumer goods, import and export trade, transport business, real estate development and other investment. We then pay the Contributor profit (as computed by our automated cooperative banking software) at the end of their selected contribution plan of choice. While this contribution plan is on going, the Contributors are able to keep track of the Cooperatives’ operation by getting updates in text (SMS and email), pictures and videos.

The Platform - Website, Mobile Application and Third Party Platforms is, at all times, subject to our Terms of Use. Secure access to the Platform is provided by way of your username and password. These log-in credentials are unique to you and are the primary method of securely identifying you when delivering our Services to you. It is therefore extremely important that you keep your username and password secure at all times. If you suspect that your secure access to the Platform has been compromised in any way, it is your responsibility to contact us. You confirm that you will only use our Platform for the purposes set out in these Terms. You confirm that you will not attempt to gain unauthorised access to the secure areas of the Website or Platform and furthermore you will not attempt to use code or software to manipulate or automate functions available on the Website. You understand that we may store your IP address information and may monitor your use of the Website in accordance with our cookie policy. Access to the Platform may be restricted at the discretion of the Company, particularly during periods of maintenance and updating. We have the right not to act on your instructions including where we deem that your instruction was not sufficiently clear, or we could not verify your identity to our satisfaction, or you did not make the instruction, or we believe that the instruction may be related to an illegal activity. The Service is offered subject to acceptance of all of the terms and conditions contained in these Terms and all other operating rules, policies, and procedures that may be published on the Site by the Cooperative, which are incorporated by reference, including operating rules, policies, and procedures of third party services providers to the Site that are referenced herein. These Terms apply to every user of the Service.
In addition, the Cooperative may subject contributors to additional terms and conditions when the Cooperative adopts additional some Services offered through the Site. Your use of those services is subject to those additional terms and conditions, which are incorporated into these Terms of Use, Contribution and General Risk Disclosure by this reference.
The Cooperative reserves the right, at its sole discretion, to modify or replace these Terms from time to time by posting the updated terms on the Site.
It is your responsibility to check the Terms periodically for changes. If you object to any such changes, your sole recourse will be to cease using the Site and the Service. Your continued use of the Service following the posting of any changes to the Terms will indicate your acknowledgement of such changes and agreement to be bound by the terms and conditions of such changes.
The Cooperative reserves the right to change, suspend, or discontinue the Service (including, but not limited to, the availability of any feature, database, or Content) at any time for any reason. The Cooperative may also impose limits on certain features and Services or restrict your access to parts of or the entire Site without notice or liability.
By submitting your information, you grant us the right to provide the information to third parties for purposes of facilitating the completion of Purchases. When you create a contribution account with us, you must provide us information that is accurate, complete, and current at all times. Failure to do so constitutes a breach of the Terms, which may result in immediate termination of your account on our Service.
You are responsible for safeguarding the password that you use to access the Service and for any activities or actions under your password, whether your password is with our Service or a third-party service.
You agree not to disclose your password to any third party. You must notify us immediately upon becoming aware of any breach of security or unauthorized use of your account.
You may not use as a username the name of another person or entity or that is not lawfully available for use, a name or trade mark that is subject to any rights of another person or entity other than you without appropriate authorization, or a name that is otherwise offensive, vulgar or obscene. 1. At registration, you will be expected to choose a Contribution Plan and pay your Contribution towards your Contribution plan of choice before approval of registration.

2. The Contributor will receive periodic updates on the status of the business operations by email. You are expected to review all notifications, updates and reports from SUBA Cooperative Ltd as they represent a record of information pertaining to your contribution during a contribution plan.

3. You are entitled to request for a physical visit to our office locations, farm, and stores. However, you must provide us with at least 2 to 14 days notice to schedule a visit appointment. 4. The duration and maturity time for the Contribution Plans shall be;
Thrift Savings (Weekly) Plan – 6 to 12 months.
Thrift Savings (Monthly) Plan - 12 to 24 months.
Basic Investment Plan – 12 to 24 months
Standard Investment Plan – 24 to 36 months
Premium Investment Plan – 36 to 48 months

5. The interest on Savings and/or Return on Investment (ROI) on the principal Contribution shall be calculated by the automated Cooperative Software and remitted to the electronic Contribution wallet of the contributor on the Platform regualarly depending on the chosen Contribution Plan as advertised on the Platform.

6. At the maturity of a Contribution Plan, you can decide whether to withdraw your Contributed funds from the electronic wallet on the Platform and transfer to a bank account you have provided us or roll over your Contributions with us to the same or a different Contribution Plan.

7. If you do not initiate a Withdrawal Request 30 days after the maturity of the Contribution Plan, we would automatically roll over your contribution and continue the remittance of your interest/return on investment according to stated terms above.

8. At the end of a Contribution Plan, any profits made from our businesses during the Contribution Plan will be shared between the Contributor, the Agent and SUBA Cooperative Ltd based on a pre-determined model unique to that Contribution Plan. This is done as stated above during the period for that Contribution Plan.

9. You agree that your contribution shall be tied down with us and unavailable for Withdrawal through out the entire duration of the Contribution Plan and neither SUBA Cooperative Ltd nor the agents can or will refund your contribution until the successful completion of a Contribution Plan after which the principal Contribution shall be paid to the Contributor.

A Contributor shall be able to apply for liquidation (pre-mature withdrawal) of his or her contributions in part or in whole.
The liquidation process shall take 7 to 30 business days.
The contributor shall lose the interest or return on investment accrued on the amount being liquidated and shall pay an management administrative charge as prescribed below. Approval of Pre-Mature Withdrawal Shall at the descretion of management.

You acknowledge that you do not own any of the businesses and/or investment that SUBA Cooperative Ltd uses the contributed funds for and you acknowledge that you are only entitled to a share of the proceeds of any Contribution Plan you participate in as agreed. Representations and warranties are statements and promises made by you to the Cooperative, which we rely on as being accurate in our dealings with you. You make the following representations and warranties to us at the time of agreeing to these Terms and every time you use the Platform or Services, including the time you are matched to a Loan Agreement;
1. you are aged 18 years and above;
2. you are of sound mind and have the capacity to enter into these Terms and Contribution Plan;
3. all personal information that you provide about yourself is accurate and true to the best of your knowledge;
4. you hold a bank account in Nigeria or your country of residence in your own name and will use this account to transfer money to our account when you Contribute and to receive withdrawals of contributions made and profits earned;
5. you have carefully considered the risks involved with using the Platform, the Services and choosing a Contribution Plan and also the risks associated with any form of cash contribution or donation, including but not limited to the possibility of losing all the money you contribute;
6. you will only ever Contribute with your own money unless you are authorised on behalf of a third party (“Third Party”) and we agree that you may act on behalf of that Third Party.
7. you are not using any illegal funds or attempting to launder by Contributing at SUBA Cooperative Ltd
8. if you are registering or accepting these Terms on behalf of a legal entity such as a company, trust or partnership, you are legally authorised to do so and we may request evidence of such legal entitlement (by way of a copy of any document which shows the valid and subsisting authorisation); and
9. you are not breaching any laws or regulations that are applicable to you or any company, trust or partnership upon whose instructions you are acting.

Contributors who have a running Contribution Plan shall be eligible to apply for micro loans.
The time frame for eligibility shall be a minimum of 21 - 90 days of active contribution subject to management approval. The borrower shall be eligible to up to 100% of his/her contributions subject to management approval. Anyone that is not registered as a contributor and have not actively contributed for a minimum of 21 - 90 days or more shall not be eligible for a micro loan. Guarantors shall be only registered contributors of SUBA Thrift & Credit Cooperative Society Limited. If a contributor chooses to use a non-contributor as a guarantor, the said guarantor shall register as a contributor, and subscribe to a thrift savings or investment plan before the said loan application may be considered. Loan tenor shall be a minimum of 6 months for micro loans below ₦300,000, and 12 months for micro loans between ₦300, 000 - ₦500,000. The Cooperative shall use its discretion to approve micro Loan amounts to Contributors. Annual Management Fee: There shall be a N3000 (Three Thousand Naira Only) annual charge on the contributors’ Wallet as member management fee. This charge shall deducted from the Contributors Wallet at withdrawal.
Withdrawal Charges: There shall be a N3,000 flat fee on any amount withdrawn in any of the thrift Savings Plans and there shall be a 20% withdrawal charge on any amount withdrawn prematurely in any of the investment plan and a 5% Management Fee at maturity of an investment Contribution Plan.
Liquidation Charge: There shall be a 20% charge on total amount being liquidated.
Loan Charges: There shall be a 10% administrative charge on approved loan amount and 2% monthly interest charged straight on the approved micro loan principal. A default in loan repayment shall further attract a 2% charge after 3 days grace period. The day-to-day operations of SUBA Thrift & Credit Cooperative Society Limited shall be governed by the Executive Management Committee with advise from the Advisory Board who shall be the highest decision making body.
The Executive Management Committee shall be made up of nominated Cooperative shareholders approved by the Advisory Board according to the laws in the Cooperative byelaws, parent company policies and Articles of Association. SUBA Thrift & Credit Cooperative Society Limited being an autonomous and independent entity, shall allow for her Contributors to become shareholders in the Cooperative.
Contributors shall be able to buy ownership shares into SUBA Thrift & Credit Cooperative Limited.
To be a shareholder, an active contributing member shall simply subscribe the Share Deposit Plan on the contributor dasboard.
A cooperative share holder shall hold a minimum of 2000 units of shares sold at the current price at the time of purchase.
Cooperative Shareholders shall be eligible to be nominated and appointed to the Executive Management Committee.
Cooperative Share Depsits shall not be withdrawalable. However a Cooperative share holder shall be able to initiate share transfer to another contributor through the Cooperative's Share Trust Fund. To do so, the intending transferor shall notify the Executive Management Committee of such transfer.
The Cooperative have and retains the right to buy the Cooperative share from Cooperative share holders. All Cooperative shareholders of SUBA Cooperative Ltd shall received dividends when declared at the end of every financial year from 5% of the net surplus to be paid to the Contributor’s e-wallet on the Platform.
Verified Mobile banking/Sales agents shall be entitled to commissions for collection of Contributions as decided by the Executive Management Committee from time to time. The members of the Executive Management Committee and Advisory Board shall be entitled to monthly and annual bonuses to facilitate the carrying out of their functions. This shall be considered as expenses. Where we discover that the Platform is being used to launder money or for any suspicious transactions, we have an obligation to report your activities to the relevant authorities without recourse to you Where a Contributor contributes in a currency other than the Naira, foreign exchange gain or loss and fluctuations in currency rates may have an impact on the profit made on such contribution by the Contributor. All interest on Savings and Return on Investment (ROI) on contribution shall be converted and returned to Naira based on the Central Bank of Nigeria (CBN) official exchange rate. The Contributor therefore enters into any transactions in currencies other than the Naira at their sole risk and shall bear all responsibilities for any gains or loss as a result. Unexpected changes in currency exchange market conditions may have an impact on the extent of profit the Contributor would be exposed to such as when there is an upward or downward movement in the relevant rates. The Contributor understands and is able to assume the risk of loss associated and agrees to be liable for any resulting deficit this might have on contributions made or profits earned. The Service and its original content, features and functionality are and will remain the exclusive property of SUBA Thrift & Credit Cooperative Society Limited. Copyright, trademark, and other laws of The Federal Republic of Nigeria protect the Service. Our trademarks and trade dress may not be used in connection with any product or service without the prior written consent of SUBA Thrift & Credit Cooperative Society Limited. User shall not directly or indirectly: (i) decipher, decompile, disassemble, reverse engineer, or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the Service, except to the extent applicable laws specifically prohibit such restriction; (ii) modify, translate, or otherwise create derivative works of any part of the Service; or (iii) copy, rent, lease, distribute, or otherwise transfer any of the rights that you receive hereunder. If you choose to provide technical, business or other feedback to the Cooperative concerning the Site or the Services (collectively, “Feedback”), the Cooperative will be free to use, disclose, reproduce, license, or otherwise distribute or exploit such Feedback in its sole discretion without any obligations or restrictions of any kind, including intellectual property rights or licensing obligations. You understand and agree that the incorporation by the Cooperative of Feedback into any of its products or services does not grant you any proprietary rights therein. Our Service may contain links to third-party mobile application, web sites or services that are not owned or controlled by SUBA Thrift & Credit Cooperative Society Limited. SUBA Thrift & Credit Cooperative Society Limited has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third-party, mobile application, web sites or services. You further acknowledge and agree that SUBA Thrift & Credit Cooperative Society Limited shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such mobile application, web sites or services. We strongly advise you to read the terms and conditions and privacy policies of any third-party mobile application, web sites or services that you visit. We may terminate or suspend your account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms. Upon termination, your right to use the Service will immediately cease. If you wish to terminate your account, you may simply discontinue using the Service. Except as otherwise terminated in accordance with the provisions below, these Terms shall commence on the date you register to Contribute with the Cooperative and shall remain valid and binding for as long as you have an outstanding Contribution Plan. These Terms may be superseded by any amended Terms. You may terminate these Terms provided that you have no outstanding Contribution Plan. Notice of termination must be provided in writing to business@subaonline.org The Cooperative may terminate these Terms at any time without notice. Subject to the Terms of Insurance and any insurance claims settled, you agree that the Cooperative has no obligation to reimburse or indemnify you for any cost, loss or liability which you incur as a result of the failure of a business and/or investment to yield according to expectations You agree to indemnify and hold harmless the Cooperative, and all our other agents or sub-contractors, against all liabilities, costs, expenses, damages and losses (including any direct, indirect or consequential losses, loss of profit, loss of reputation and all interest penalties and legal and other reasonable professional costs and expenses) suffered or incurred as a result of: 1. your fraudulent or illegal use of the Platform, the Services or the Website; 2. your negligence or any default by you of any of these Terms or the terms of any Loan Agreement; 3. any inaccurate or incomplete information that you have knowingly provided to us; 4. your allowing any other person to access your account either with your permission or as a result of your failure to keep your username and password private; 5. any service that you have offered, whether with or without our permission, to another third party using our Platform, Services or Website; 6. any claim made against you for actual or alleged infringement of the Cooperative’s Intellectual Property Rights or any actual or alleged infringement of a third party’s Intellectual Property Rights arising out of or in connection with the Services or your use of the Platform In no event shall SUBA Thrift & Credit Cooperative Society Limited, its directors, employees, partners, agents, suppliers, or affiliates, be liable for any indirect, incidental, special, consequential or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from; (i) your access to or use of or inability to access or use the Service; (ii) any conduct or content of any third party on the Service; (iii) any content obtained from the Service; and (iv) unauthorized access, use or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence) or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed of its essential purpose. Your use of the Service is at YOUR OWN RISK. The Service is provided on an “AS IS” and “AS AVAILABLE” basis. The Service is provided WITHOUT WARRANTIES of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, non-infringement or course of performance. SUBA Thrift & Credit Cooperative Society Limited, its parent company (SUBA Capital & Business Solutions Ltd), subsidiaries, affiliates, and its licensors do not warrant that;
a) the Service will function uninterrupted, secure or available at any particular time or location;
b) any errors or defects will be corrected;
c) the Service is free of viruses or other harmful components; or
d) the results of using the Service will meet your requirements. The Laws of the Federal Republic of Nigeria shall govern this Terms and Agreement. Any dispute arising out of this Agreement to these Terms, which cannot be settled, by mutual agreement/negotiation within 6 - 18 months shall be referred to arbitration by a single arbitrator at Edo State Multi-Door Court House (ESMDC) and governed by the Arbitration and Conciliation Act, Cap A10, Laws of the Federal Republic of Nigeria. The Parties shall appoint the arbitrator, where Parties are unable to agree on the choice of an arbitrator, the choice of arbitration shall be referred to “ESMDC”. The findings of the arbitrator and subsequent award shall be binding on the Parties and may be enforced through a Nigerian court of law. Each Party shall bear its cost in connection with the Arbitration. You confirm that you understand and agree to the Cooperative’s Privacy Policy, which provides information on how we use and store the personal information that you provide to us, and you further acknowledge that the Cooperative may amend and update this policy from time to time. SUBA Thrift & Credit Cooperative Society Limited reserves the right, in its sole discretion, to change the Terms of Use, Contribution and General Risk under which our Services and usage of www.subaonline.org is offered. The most current version of the Terms will supersede all previous versions. SUBA Cooperative encourages you to periodically review the Terms to stay informed of our updates. Upon making a Thrift Savings and/or Investment Contribution, filling a membership request form and getting approval of membership request, you have signed up to be a contributing member, saver and/or investor with SUBA Thrift & Credit Cooperative Society Limited by filling the forms, and you AGREE to ALL the above stated terms, conditions and the organizations’ byelaws, supplementary byelaws, and all regulatory by laws of the Federal Republic of Nigeria guiding the operations of SUBA Thrift & Credit Cooperative Society Limited as a Cooperative Society and Microfinance institution.