Terms of Service

1. Acceptance of Terms

By creating an account on EESCREDIT (user.eescredit.com) or using any of our services — including savings, loans, Cooperative Rotation (Esusu), vouchers, agent services or the member portal — you confirm that you have read, understood and agree to these Terms of Service, our Privacy Policy and our Cookie Policy.

If you do not agree to these Terms, you must not use our services.

2. Eligibility & Registration

• You must be at least 18 years of age to register
• You must reside in Nigeria or be a Nigerian citizen
• You must provide accurate, complete and current information during registration
• You may only hold one (1) EESCREDIT account
• You are responsible for maintaining the security of your login credentials
• You must notify us immediately of any unauthorised access to your account

3. Membership Tiers & Obligations

EESCREDIT offers four membership tiers: Starter, Builder, Achiever and Pillar. Each tier carries different contribution requirements, benefits and access levels.

• Membership fees may be paid annually or in approved instalments
• Membership activates only upon full payment of the applicable tier fee
• Tier upgrades are subject to payment of the difference in fees and management approval
• Members are expected to participate actively in cooperative activities
• Voting rights are available from the Pillar tier upwards as specified in our cooperative bye-laws
• Dividends are declared annually by the Board of Management and distributed to eligible members

4. Savings Accounts

4.1 Account Types

EESCREDIT offers multiple savings products including Ordinary Savings, Wise Ant Plan, Youtide Plan, School Plan and Emergency Cushion. Each product has specific terms regarding contribution frequency, lock-in periods and withdrawal conditions.

4.2 Deposits

• Deposits may be made via online payment gateways, bank transfer, vouchers or through field agents
• Daily deposit limits apply as configured by the platform administrators
• All deposits are subject to transaction confirmation before crediting

4.3 Withdrawals

• Withdrawals require KYC Level 2 verification (NIN + verified bank account)
• OTP verification via registered phone number is mandatory for all withdrawals
• Withdrawal requests are processed within 1–3 business days
• Withdrawals are subject to applicable processing fees as published in the admin panel
• EESCREDIT reserves the right to place a hold on withdrawals pending investigation of suspicious activity

4.4 Interest

Interest rates on savings accounts are set by the Cooperative Board and are subject to periodic review. Interest is calculated and posted to accounts as per the applicable savings product schedule.

5. Loan Terms

• Loan applications require KYC Level 2 verification
• Loan eligibility is determined by savings history, membership tier, guarantor availability and repayment capacity
• All loan products, interest rates and repayment schedules are published on the platform
• Loans must be repaid on the agreed schedule — overdue loans attract penalty charges
• Overdue loans will trigger notifications to both the borrower and guarantors
• Repeated default may result in account suspension and recovery action
• Loan guarantors accept joint responsibility for repayment in the event of borrower default
• EESCREDIT reserves the right to offset unpaid loans against savings balances where permitted by law

6. Cooperative Rotation (Esusu)

The Esusu (Cooperative Rotation) feature allows groups of members to contribute regularly and receive rotating lump-sum payouts. Participation is governed by the following conditions:

6.1 Group Formation

• Esusu groups are created and managed by approved Rotation Admins
• Rotation Admins must complete NIN verification and platform approval before creating groups
• Group size, contribution amount, frequency and payout order are set at group creation
• No new members may join or be onboarded after a group has been launched

6.2 Contributions

• Members must maintain a funded Rotation Wallet to participate
• Contributions are debited on the scheduled date — ensure your wallet is funded in advance
• A contribution buffer percentage (set by the Rotation Admin) is collected above the base contribution amount as default protection
• Failure to contribute on the scheduled date constitutes a default

6.3 Payouts

• Payouts are made to members in the order determined at group creation
• A platform fee is deducted from each payout as specified at group creation
• Buffer funds are returned to non-defaulting members upon completion of a full rotation cycle
• Payout recipients are responsible for applicable taxes on amounts received

6.4 Amendments

• Group rules may be amended by proposal from the Rotation Admin
• Amendments require approval by at least 60% of group members within 3 days of proposal
• Failed or expired amendment proposals are automatically rejected

6.5 Default

7. Group-Guaranteed Loans (GGL)

The Group-Guaranteed Loan facility allows members with strong savings and Esusu history to access loans backed by the locked savings of fellow member guarantors.

• GGL applications require KYC Level 2 and a qualifying Esusu contribution history
• Guarantors voluntarily lock a portion of their savings to back the loan
• Locked guarantor funds are released in full upon complete loan repayment
• In the event of borrower default, losses are distributed proportionally among guarantors
• Borrowers who default on GGL facilities may be blacklisted from future loan access
• All GGL terms, rates and repayment schedules are displayed during the application process

8. Agent Services

EESCREDIT field agents are authorised representatives who assist members with cash collection, savings deposits, voucher redemption and member onboarding.

• Agents operate under an approved agent agreement and are subject to platform conduct rules
• OTP verification is required for agent-assisted member registration
• Agent commissions are calculated and paid as per the published commission schedule
• Agents may not collect cash without issuing a voucher or completing a platform transaction
• Misappropriation of member funds by agents is a criminal offence — EESCREDIT will cooperate fully with law enforcement

9. KYC & Identity Verification

KYC Level	Requirement	Unlocks
Level 0	Phone OTP verified	View accounts, receive deposits
Level 1	NIN verified via Prembly	Transfers, manual deposits
Level 2	NIN + Bank Account verified	Withdrawals, loan applications

You must provide truthful identity information. Providing false identity data is a criminal offence under Nigerian law and will result in immediate account termination and referral to relevant authorities.

10. Payments & Fees

• All transactions are processed in Nigerian Naira (NGN) unless otherwise specified
• Payment gateway fees (Flutterwave, Paystack, Stripe etc.) may apply and are displayed before transaction confirmation
• Platform fees for Esusu payouts are set at group creation and are non-negotiable once a group is launched
• Annual maintenance fees may apply as determined by the Board
• EESCREDIT does not issue refunds on membership fees once a tier is activated
• Transaction disputes must be raised within 30 days of the transaction date

11. Prohibited Conduct

You must not:

• Provide false, misleading or fraudulent information at any point
• Use another member's account or credentials
• Attempt to manipulate savings balances, loan applications or Esusu records
• Engage in money laundering or use EESCREDIT for any illegal financial activity
• Harass, threaten or abuse staff, agents or fellow members
• Attempt to reverse-engineer, hack or disrupt the platform
• Register multiple accounts under different identities

12. Suspension & Termination

EESCREDIT may suspend or terminate your account without prior notice if:

• You breach any provision of these Terms
• We suspect fraudulent, illegal or abusive activity
• Your loan or Esusu obligations are severely overdue
• You provide false identity information
• A regulatory authority directs us to do so

Upon termination, any outstanding loan balance becomes immediately due. Savings balances (net of outstanding obligations) will be returned to your verified bank account after the applicable processing period.

13. Limitation of Liability

To the maximum extent permitted by Nigerian law, Life-at-Ease Port-Harcourt Multi-purpose Co-operative Society Limited shall not be liable for:

• Indirect, incidental or consequential losses arising from use of the platform
• Losses caused by third-party payment gateway failures or delays
• Losses arising from member-to-member default in Esusu groups beyond the buffer mechanism
• Losses arising from unauthorised access due to your failure to secure your account credentials
• Service interruptions caused by force majeure events

Our total liability to you for any claim shall not exceed the total amount deposited in your savings account in the 3 months preceding the claim.

14. Dispute Resolution

In the event of a dispute:

1. Contact our support team at support@eescredit.com — we will endeavour to resolve within 14 days
2. If unresolved, the matter shall be referred to mediation under the Rivers State Multi-door Courthouse framework
3. If mediation fails, disputes shall be resolved by arbitration in Port Harcourt, Rivers State, in accordance with the Arbitration and Conciliation Act, Cap A18, LFN 2004

15. Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria. The Co-operative Societies Law of Rivers State and the regulations of the Rivers State Co-operative Federation apply where relevant.

16. Contact

Email: support@eescredit.com

Address: 21 Emekuku Street, DLine, Port Harcourt, Rivers State, Nigeria

Hours: Monday–Friday 8:00 AM–6:00 PM | Saturday 9:00 AM–4:00 PM