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Terms of Service

Last updated 3 July 2026. These terms govern your use of DOMICOOP.

Acceptance of Terms

By creating an account or using DOMICOOP, you agree to be bound by these Terms of Service and our Privacy Policy. If you do not agree, do not use the app.

Who We Are

DOMICOOP is a digital platform that supports the operations of Dominion Co-operative, a registered cooperative society. The app allows members to make contributions, apply for loans, receive dividends, and stay informed about cooperative activities.

Eligibility

  • You must be at least 18 years of age.
  • You must be a registered member of Dominion Co-operative.
  • Each person may hold only one membership account.

Registration

  • You must provide accurate and complete information during registration.
  • You are responsible for keeping your login credentials secure.
  • You must notify us immediately if you suspect unauthorised access to your account.
  • One membership, one account. Duplicate accounts will be merged or removed.

Contributions and Payments

  • The minimum contribution is ₦5,000.
  • A non-refundable registration fee of ₦20,000 applies to new members.
  • A cooperative wrapper fee of ₦6,000 is payable at registration.
  • An additional ₦1,000 social/end-of-year souvenir contribution is compulsory with each monthly subscription.
  • Payments must be made through the app or approved channels. USSD and POS payments are not accepted.
  • Third-party payments (payments made from another person's account) are not accepted. Your payment must carry the name used during registration.
  • Payments above ₦50,000 will be posted to your deposit column.
  • Random or irregular payment amounts (e.g., ₦12,000, ₦18,000, ₦22,000) are not accepted.
  • A late payment fee of ₦500 applies to overdue contributions.

Loans

  • Consistent payment for 6 months qualifies you for a loan of up to 3 times your contribution, at an interest rate of 10%, repayable within one year.
  • A 1.5% processing fee applies to loan repayments.
  • Loan eligibility requires sufficient contribution history and no existing active loan.
  • If you guarantee a borrower and the borrower defaults, your funds and dividends may be held or deducted until the debt is settled.
  • You may guarantee one person if you have an active loan, or two persons if you do not.
  • Your guarantor must be a member of the cooperative.

Dividends

  • Dividends are calculated and distributed at the end of each year.
  • If you have an outstanding loan guarantee that is in default, your dividend may be placed on hold and drawn upon by the cooperative.

Membership Obligations

  • You must pay your dues for at least 3 consecutive months to maintain active membership.
  • Failure to pay dues for 3 months may result in automatic withdrawal at year-end.
  • If you wish to exit the cooperative, you must provide 6 months' notice in writing.
  • If you wish to increase your contribution, you must inform the cooperative in writing through the chairperson.

Prohibited Conduct

You agree not to:

  • Use the app for any unlawful purpose.
  • Provide false or misleading information.
  • Attempt to access other members' accounts.
  • Interfere with the operation of the app.
  • Use the app to harass, abuse, or harm others.

Account Deletion

You may request account deletion from the app settings. When you delete your account:

  • A request is sent to the server to remove your personal data.
  • Your authentication tokens and local cached data are cleared.
  • Some records may be retained where the cooperative's bye-laws or applicable law requires it.

Data and Privacy

We collect and process your personal data as described in our Privacy Policy. By using the app, you consent to such processing.

Limitation of Liability

DOMICOOP is provided "as is" without warranties of any kind. To the fullest extent permitted by law, Dominion Co-operative and its service providers shall not be liable for any indirect, incidental, special, or consequential damages arising from your use of the app.

Changes to These Terms

We may update these Terms from time to time. Material changes will be communicated through the app or by email. Continued use of the app after changes take effect constitutes acceptance of the updated Terms.

Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria.

Contact

Questions about these Terms? Reach us at domicorp14@gmail.com.