Membership Commitments

  • Pay N10,000 one time membership fee to join.
  • Buy at least 12 shares of N20,000 each annually to maintain active membership.
  • Invest first and convert your shares to equity later for your house.
  • Accumulate shares of up to 20% of the cost of house not exceeding N5,000,000.
  • Accumulate shares of up to 30% of the cost of house higher than N5,000,000 but not exceeding N10,000,000.
  • SHC will contribute 70% or Maximum of N10,000,000 whichever is lower to a house exceeding N10,000,000.
  • Pay fair and proportionate rent based on prevailing market rental rates.
  • Attend general meetings at least twice a year.
  • Shares may be sold or transferred directly to another member of the Housing Co-operative.