Faith-drivenfinance, builttogether.
The God's Treasury Cooperative Thrift & Credit Society is a self-help organisation guided by godly principles, solving socio-economic problems through mutual support and income-generating activities.
A community solving problems through mutual support.
We are guided by godly principles and believe in coming together as a community to solve socio-economic problems through mutual support and income-generating activities.
Our primary goal is to improve access to credit for entrepreneurship and investment, and to provide financial assistance for emergency expenses. We help members save, invest and grow their wealth, with an emphasis on saving.
Where we are going, and how we get there.
Our vision
We aspire to build a respected financial institution, driven by our core values of mutual respect, trust, cooperation, entrepreneurship and excellence.
Our mission
Empowering our members and their communities, our mission is to provide accessible financial services and education. We are dedicated to enhancing the financial well-being of individuals, families and businesses through fair and equitable practices.
The principles behind every decision.
Four commitments that guide how GTCS serves its members.
Accountability & responsibility
Key parts of how we operate, along with following our bylaws and regulations and keeping member information confidential.
Integrity
We always conduct business in a truthful, ethical and transparent way, with the utmost concern for the best interests of members.
Trusted & reliable
As a financial partner, GTCS strives to be trusted and reliable, building strong relationships on mutual respect and trust.
Committed
Members save promptly each month, stay truthful, and carefully read and understand every document before signing anything related to their membership.
Open to individuals everywhere.
Individuals globally can apply. A referral from a current member is an advantage. Minors need an adult managing their account.
Building a fairer, stronger financial community.
Promote financial literacy
Educate members on financial management so they can make informed decisions and achieve financial freedom.
Advance social justice
Advocate for fair and equitable financial practices and policies that promote social justice and economic equality.
Enhance financial security
Give members tools and resources to build emergency funds and savings, ready for unexpected expenses.
Encourage entrepreneurship
Support members with resources, mentorship and guidance to succeed in their business ventures.
Financial inclusion
Provide financial services to communities overlooked by conventional financial institutions.
Championing fairness
Challenge unjust systems and strive to create a fair economy.
And we also work to
Know exactly how borrowing works.
Transparency is a core value. Here is the process, the schedule and the consequences, in plain words.
Complete an application form
Every loan request begins with a completed loan application form.
Secure two guarantors
Two guarantors must sign. They take responsibility for repaying the loan if the borrower defaults.
Guarantor eligibility
A guarantor must be a member for at least three months and have no history of defaulting on loan repayments.
Soft loans
Refunded in equal installments over a period not exceeding four months.
Regular loans
Repaid in equal installments over a period not exceeding twelve months, as chosen by the borrower.
₦1,000 administrative fee
Added to the first installment to cover the loan application and transfer fees.
Post-dated cheques
Installments are set up as post-dated cheques at the time of loan disbursement.
Due dates
Loans disbursed between the 1st and 25th of the month have their first repayment due at the end of that same month.
Late fees and interest
Late payments attract late fees, plus interest on the total loan amount, paid separately.
Rising interest
Defaulting can raise the interest rate, and interest compounds the longer a payment is missed.
Credit score impact
GTCS partners with CRC Credit Bureau LTD and data is shared, so a default can affect your credit score.
Legal action
GTCS may pursue legal action, including repossession or foreclosure on collateral securing the loan.
Restricted access
A defaulting member can't take a new loan until three months after clearing it. Repeat defaults mean loan denial, and savings are held for six months after termination.
Possible termination
Bounced cheques or repeated missed payments are not tolerated. Membership may end after a formal warning and a termination letter.
