ABOUT US

The society was founded by a small group of America International Insurance Company Limited (AIICO) staff coming together to form a thrift and credit society in the late 70’s. This group was chaired by Chief Kutemi and was later transformed in the year 1992. In 1996, Mrs Adejoke Afolabi became the first elected president of the society and the society became a Multipurpose under her leadership. The society was registered with the Lagos State government on 18 June 2004 with the registration number LSCS 7989. Currently the membership of the society is 428 made up of Aiico Insurance Staff Plc and her subsidiaries: AIICO Pension Managers Limited, AIICO Multishield Limited and some retirees of the companies.

LOAN

This is a cash request from members to meet up with various financial needs.

Features

Loan

This is a cash request from members to meet up with various financial needs. Members are entitled to twice his/her savings with society.

It is also granted based on a first come first serve basis and also on the availability of funds with the society at the particular period.

SAVINGS

We have three types of savings; Monthly Contribution, Target Savings and Time Deposit

Features

Savings

Monthly Contribution: The minimum monthly contribution is N5,000 for contract staff and N10,000 for Full staff. However, members can review upwards this amount at any point in time.

Target Savings: Ideal for members who aims to save to meet the certain financial targets.

Time Deposit: This is optional to the member but comes with a fixed interest rate as shown in the table below. It does not qualify for dividend; it does not qualify you for a loan

AIICO ESTATES

One of the priorities of this noble organisation is to make each and every member a landlord

Features

AIICO Estates

One of the priorities of this noble organisation is to make each and every member a landlord through the joint acquisition of land and granting mortgage loans.

This effort has yielded a significant amount of success through the development of four different AIICO housing estates in two states (Ikorodu, Lagos and Mowe, Magboro Ogun) in Nigeria.

Currently, three of the housing estates are undergoing development with the cooperative supporting and encouraging its member to build as fast as they can.

CAPITAL ITEMS

These are household items or consumable items obtainable from the manufacturer/vendor.

Features

Capital Items

These are household items or consumable items obtainable from the manufacturer/vendor and sold to the member at a cheaper rate.

Members

Loan Paid

Estates

Capital Items Sold

What are members saying?

  • I just want to use this medium to especially appreciate the cooperative executives for coming to my aid during my financial need. I pray God will continue to give you more wisdom, expertise and direction to lead and manage the cooperative portfolio to higher ground in Jesus name. Once again, I appreciate you all. Long live AIICO!! Long live cooperative.

    Olorunda Folasade

  • I hope this meets you well. Trust you are staying safe in this time and season. I would like to thank you once again, the management and staff of our prestigious cooperative, for all the assistance rendered to me during my time of requests. I am very grateful. I am pleased to announce my exit from AIICO INS. PLC and also happy to have been part of this great Cooperative Society.

    Oluwafemi Oluwatowoju

  • I Nureni Abeeb Opeyemi, former AIICO Insurance Cooperative member wish to use this medium to formally appreciate each and every one of the distinguished and God sent individual who has contributed in one way or the other for the support towards my pursuit of my academic in abroad which you all have supported me both financially, morally and unending prayers. I sincerely appreciate you all. May God Almighty in his infinite mercy grant each and every one of you your heart desires and may he takes us all to a greater height. I love you all; you are indeed a great family.

    Abeeb Nureni