I paid 500naira into the nysc cooperative when I was passing out. We all paid, it was compulsory. My friend just told me that the funds are used to empower members later in life. Members that want to go into business ventures. He said the nysc certificate is the collateral.

Please, anybody with useful information on how to access these funds should kindly state it here. If we don't access the funds, the management will trade with them and eventually siphon them when nobody asks for them.

Thanks in anticipation, I know I can trust nairaland with this.

If you are one of the outgoing Batch B Corps' members, then I think you are a bit too late for this loan. From what I've heard so far, you need to apply three months prior to your POP date before you can stand a chance of getting it.

Yup. As a collatral, you'l need to drop your NYSC discharge certificate for the stepend, which is about 300k or thereabout. The loan is interest free (so I heard). Not quite sure though.

Was told it is NYSC Foundation not Cooperative. U obtain a form for just #500, wit dis u can apply for loan and d minimum amount is #400,000. Your NYSC cert is d collateral but i dnt knw how long it wil take b4 u get d money.