Frequently Asked Questions

  • 01

    Who Can be a member of May & Baker CMS

    The membership of the society shall be open to:

    I. May & Baker Staff;
    ii. Retired Staff of the May & Baker;
    iii. May & Baker Staff on Secondment to other Institutions.
  • 02

    Can Non-Staff of May & Baker be a member of the corporative?


  • 03

    How is member admitted into the Corporative

    Application for Membership shall be by the completion and submission of the Co-operative Membership Application form in a manner that may be determined by the MC.

    Every intending member shall submit, along with the Application Form:

    1. A non-refundable application fee of N5,000.00 (Five thousand naira only) or as may be approved by the AGM from time to time and payable into the Society`s designated account;
    2. Recent passport-sized photographs duly certified by the Cooperative Administrator and MC members

  • 04

    How many type of Loan are operated in MBCMS

    1. Corporative Loan I & II
    2. Commodity Loan
    3. EDU Loan
  • 05

    How can I apply for Loan

    1. Be A Member
    2. Have a saving of 6 months
    3. Login to SMARTCOOP and apply for any loan of your choice
    4. Interest rate will be calculate
    5. Loan form of N200.00 will be deducted
  • 07

    What is Interest Rate?


  • 08

    Do i Need to submit any colateral?

    You only need two Guarantors who are members of the corporative and each have upto 25% of amount you amount you are applying in their Saving Account

  • 09

    How much can I save monthly

    This is subject to your Net pay

  • 10

    How much can I loan at a time

    Amount is subject to some factors: Amount with total deduction must not be greater than 36% of your Takehome pay