LMCMS - Our Services

Awesome offerings

Our Services

At Lagos Medical Cooperative Multipurpose Society, we provide reliable and secure financial solutions designed to help members save confidently and access repayment-friendly funds when needed. Explore our range of services tailored tofostoer our members' economic strength and stability.

Savings

Save a little month, achieve more every season.

Build your savings effortlessly with our monthly Savings scheme. We make saving simple and consistent. Your monthly deposits are securely collected, this service helps you stay disciplined, both short and long-term goals, and enjoy peace of mind knowing your money is managed responsibly.

Foodstuff Credit Scheme

Nourishing your home with convenience.

Our Foodstuff loan is designed to ease the domestic logistics of our busy medical practitioners. Members can access high-quality essential foodstuffs directly from the Cooperative Secretariat without immediate out-of-pocket expenses.

• The Process: ;Visit the Secretariat, select your items, and collect them on credit.
• The Benefit: ;Enjoy a "buy now, pay later" advantage that ensures your household needs are met without disrupting your daily cash flow.
• Payment:; Seamless repayment via automated monthly payroll deductions.

Soft Loan (Instant Liquidity)

Fast, flexible, and affordable support for immediate needs.

When you need quick access to cash for personal or emergency expenses, our Soft Loan offers a hassle-free solution tailored for efficiency.

• Requirements:; Available for amounts less than your current total savings and capped at ₦500,000.
• The Process:; Simply submit a signed formal letter stating your requested amount and bank account details.
• Rate: ;An incredibly low one-time interest payment of just 1% of the loan amount.

Regular Loan

Doubling your financial capacity.

The Regular Loan is our standard financial booster, designed to help members achieve their medium-term goals by leveraging their commitment to the society.

• Requirement: ;Access up to double (2x) the value of your total savings. Requires two (2) guarantors who are also active members of the Cooperative.
• The Process: ;Complete the official loan application form and submit it for swift processing.
• Rate:; A competitive interest rate of 0.67% monthly on the principal, deducted alongside your repayment.

Project Loan

Empowering your large-scale ambitions.

For major life milestones—be it hospital equipment, home renovations, or significant investments—our Project Loan provides the substantial capital required to bring your vision to life.

• Requirement: ;Access up to triple (3x) the value of your total savings. Requires two (2) guarantors who are active Cooperative members.
• The Process:; Formal application via our dedicated project loan documentation.
• Rate:; A transparent interest rate of 10% per annum, conveniently spread across your monthly repayment period.

Land Acquisition Loan

Investing in your future, one plot at a time.

The Land Loan is specifically designed for members looking to secure their future through real estate, currently supporting subscribers of our Epe Land project and future developments.

• The Benefit: Secure prime landed property with a structured payment plan that doesn't strain your finances.
• Rate:A flat, predictable interest of ₦100,000 per plot of land per year for the duration of the repayment.
• Payment: Choose the flexibility of direct bank transfers or the ease of monthly payroll deductions.