How it works
From the moment you apply to the moment a house is handed over, here is what happens to your money and who decides what.
The member journey
You join
You apply through the membership form. Applications are approved by the directors (Article 12). Membership is open to anyone aged 16 or over who supports the aims of the cooperative, and to corporate bodies through a nominated representative.
You contribute
Members pay a monthly subscription of between £100 and £500 (Article 7). You choose your level within that range. Payment arrangements are set up directly with us — never through this website.
Capital is pooled
Contributions are pooled by the cooperative. Under Article 4 the objects of the cooperative are specifically restricted: funds may be invested only in real estate projects in Nigeria, for profit, and exclusively with our execution partner ULDA. That restriction is a constitutional limit on what the money can be spent on.
The business case is approved in London
Before funds are released to any project, a business case is approved in London. It must state the financial return and the socio-economic return — how many youths will be trained, how many artisans upskilled, and what direct and indirect employment the project creates.
The project is executed in Nigeria
ULDA delivers on the ground: construction professionals lead teams that include N-Power graduates, NECA- and ArcSkills-sponsored trainees, and members of the Bricklayers Association of Lagos State. The build is the training programme.
Homes are sold, returns reported
Completed units go to offtakers, many pre-qualified for mortgages through member banks of the Mortgage Banking Association of Nigeria. Accounts and the auditor’s report go to the annual general meeting (Article 21), where members consider them.
Where members exercise control
A cooperative is only meaningful if members can actually direct it. These are the levers the constitution gives you.
One member, one vote
Regardless of how much you contribute. Entrenched: changing it needs 100% approval (Article 44).
Five meetings a year
An AGM plus at least four further general meetings, held so members can participate in decisions and review management (Article 22).
Members can call a meeting
10% of the membership can require the directors to convene a general meeting (Article 23).
Big disposals need you
Disposing of assets worth a third or more of the last balance sheet requires a special resolution of the members.
Proxies are allowed
Cannot attend? Appoint a proxy in writing. No one may hold proxies for more than five members at once (Article 27).
Training is owed to you
The cooperative must train members in the skills needed to participate in running it (Article 15).
What we ask of you
Membership is not passive. Under Article 14 members agree to attend general meetings, take an active interest in the operation and development of the cooperative, and respect the confidentiality of its business decisions.
Leaving
You may resign at any time by giving notice in writing to the Secretary (Article 17(c)). Membership also ends automatically if you default on the minimum £100 monthly contribution for two consecutive months, or fail to pay for a cumulative three months in a financial year.
Membership rights are not transferable and cannot be sold, except to a member’s estate on death (Article 18). A member can be expelled only by special resolution, after 21 days’ written notice and an opportunity to make representations to the meeting (Article 19).
Before you apply
This is an investment in a cooperative, not a savings product. Your capital is at risk and you may get back less than you put in. Membership is not a bank deposit and is not covered by the Financial Services Compensation Scheme. Returns depend on project delivery, the Nigerian property market and currency movements.
We publish no projected or guaranteed return figures. Read the constitution in full, and take your own independent financial advice if you are unsure.
Put your capital to work where it builds something
Membership starts at £100 a month. Your contribution is pooled with other members, invested in housing projects approved in London and built in Nigeria, and measured on both financial and social return.