Faq’s

Frequently Asked Questions

Find answers to all your queries about our service.

What is Goldmen Savings & Credit Cooperative Society Limited (GSC)?

Goldmen S&C is a financial cooperative established in 2023 to promote financial inclusion and economic development in Nigeria. It provides savings, loans, and investment opportunities ...
What services does GSC offer?

Savings Accounts: Naira Savings Accounts Gold-backed Savings Accounts Loans: Non-interest Micro-Credit Loans Flexible repayment options Investment Opportunities: Member Investment Accounts with returns between 25% and ...
What is the gold-backed savings account, and how does it work?

The Gold-backed Savings Account converts your Naira savings into gold at the current market price. This helps protect your money’s purchasing power from inflation and ...
Who can join GSC?

Membership is open to individuals aged 16 or more, businesses, and organizations in Nigeria, with a focus on empowering rural communities, providing members with ethical ...

How does GSC support women and rural residents?

A minimum of 80% of loans are reserved for women. At least 90% of loans are directed to rural residents. Customized training and financial products ...
What is GSC’s loan model?

Loans are offered in multiples of N50,000, up to N1,000,000. Loan tenure ranges from 4 to 6 months, with repayments made weekly or monthly. Borrowers ...
What are the investment opportunities at GSC?

Members can invest for a minimum of 6 months and earn a share of the profits generated from loans. Returns range between 25% and 40% ...
How does GSC manage loan risks?

Comprehensive Know-Your-Member (KYM) checks. Group cross-guarantee agreements. Regular follow-ups and loan performance monitoring. Mandatory financial literacy training for all borrowers. Issuance of Credit Worthiness Certificates ...