We the members of the Academic Staff Union of Universities having resolved to come together as an Association for the promotion of the objective stated herein and in order to provide Laws and Rules for our guidance, do hereby provide for OURSELVES
The objectives of the society include promoting socio-economic well-being of its members and especially:-
(a) To encourage thrift amongst members and to establish a fund from which members can be granted loans at reasonable and affordable interest rates.
(b) To procure consumer goods at reasonably affordable prices for sale to members.
(c) To invest in economically viable ventures for the benefits of its members
(d) To contribute to the economic growth and development of the country.
(e) To acquire land for sale or development for housing or industrial purposes for the benefits of members.
(f) To engage in any other economic activity that may tend to increase the earning capacity,maximize the society’s wealth and ultimately improve the standard of living of the members.
(g) To promote any other measure designed on cooperative principles that will encourage among its members, the spirit and practice of thrift, mutual help and self-help.
(h) To raise capital for the achievement of its objectives
Every member of the society must be a member or employee of the Academic Staff Union of Yobe State University.
Application for membership shall be made in writing on designated application form with prescribed registration fee to the chairperson of the cooperative and shall be disposed of by the Management Committee who may grant admission.
DECLARATION OF OBLIGATION
Every member shall on joining the society render to the Management Committee a true and complete statement of his/her indebtedness outside the society.
The liability of members for the debts of the society is limited to two (2) times the nominal value of one’s contributions/ shares. The value of a share is N 1000.00.