Cloud Cooperative is an online cooperative society registered with the government that seeks to financially liberate aspiring, striving or thriving entrepreneur.

We provide our members with access to loans that they could use for the different aspect of their lives with no limitations.

We have simplified the means to access this through our online platform

Members of Cloud Cooperative have access to low interest loans and allocated dividend at the end of every financial year.

No, you need to pay a non-refundable fee of NGN 5,000 to become a member.

Cloud Cooperative accepts debit cards issued by all Nigerian banks.

TheFastlane & Co. is the umbrella company for Cloud Cooperative. TheFastlane & Co. is a leading technology-driven and Brand consulting company in Nigeria which is currently operating across different sectors.

We understand that sometimes good things have to come to an end and as much as we would love to always have our members, we understand that we don’t have control over how long they choose to stay.

Our Customer Support team can permanently delete your Cloud Cooperative account upon request.  To process this, you need to give a notice period of 3 to 6 months and must have paid all outstanding debt.

Please keep in mind that this process is permanent and cannot be reversed.

What makes us different is our flexibility and our availability to our customers. Since this cooperative society is online, it is easily accessible and the transparency is not flawed. Secondly, the easy access that our members have to our loans without asking for collateral. All these and more are what makes us standout

Our office is located at Office 67, Sky Field Apartments, 44 Commercial Avenue, Sabo, Yaba, Lagos.

Safety & Security

Savings on Cloud Cooperative are invested in risk-free financial instruments and held securely by our Board of Trustees on behalf of our members.

Your security is our major priority, so all critical customer information is encrypted and stored.

Additionally, all transmission to our banking partner and on our site is via an encrypted 256-bit HTTPS SSL connection.

We do not store your card information as we work with a PCIDSS-compliant payment processor to handle all our members’ card details and ensure all delicate data are encrypted and rendered unreadable.

The PCIDSS is a standard guide, globally, that all reputable payment processors must adhere to.

Cloud Cooperative is not a bank. CBN regulates banks. Cloud Cooperative is an online cooperative society duly licensed and regulated by the Lagos State Government under the Cooperative Societies Act (2013) as amended.

All automated transactions are done using your debit card, as we take away the hassle that comes with banking halls. Payments for savings are made via your bank issued debit card, secure and seamless.

We have multiple security and safety layers embedded in the Cloud Cooperative experience: Here are few of them:

  • Bank Grade Security: Our platform and that of our payment processors are PCI-DSS compliant to ensure security of your data electronically. All cards and bank data are encrypted to prevent unauthorized access to sensitive information.
  • Regulatory Compliance: Cloud Cooperative is a duly licensed and regulated by the Lagos State Government under the Cooperative Societies Act (2013) as amended. All our activities are in full compliance with regulatory requirements to the ultimate protection of our clients.


You can start your saving plan with as low as ₦5,000 (Five thousand Naira). You can also save more every month according to your prerogative and savings plan.

When you login, you will be redirected to your dashboard where you can make contributions, save, earn through referrals and apply for a loan.

No, everything is done automatically once you have set up your Autosave, except you want to top up your savings using the Manual option.

To keep track, all transactions on your debit card will be visible on your dashboard. We will also send an email receipt to you every single time you save with your card, and your bank will send you an alert as well. It’s 100% secure.

Simple! We will not be able to debit you for that month. We will only be able to save for you when you have funds in your debit card.

However, you have the option to use the save manually once you have loaded your account.

No, you cannot withdraw your monthly contribution.

Absolutely. Our dashboard was designed with this objective in mind. You can monitor the progress of your contributions on a daily basis on our easy-to-understand dashboard.

Also, we also push instant notifications to your verified email address and phone numbers for key transactions on your Cloud Cooperative account, so nothing goes unnoticed or unapproved by you.

When you register to become a Cloud Cooperative member, you are to choose a monthly contribution plan and this is fixed.

However, if you intend to save more, there is a quick savings plan that allows you save as much as you want to.

Your contribution is a fixed amount that you are required to pay every month as a cooperative member that allows you to qualify for a loan.

Your Quick savings just like the name is your savings. There is no fixed date for you to save, you can save as much as you want as often as you can.

  • There is no fixed amount. Save money on your own terms.
  • You can request and send money to friends and family.
  • You can access your money whenever you want.
  • You can add it up to your contribution to apply for a substantial loan.


The most important requirement is to become a member.

After becoming a member, you must have used the Cloud Cooperative platform to save for at least 6 months, only then can you request for a loan.

You entitled to a maximum loan of up to 200% of your cumulative contributions.

The loans are not collateralized but you need at least one guarantor to stand in for you when you apply for a loan.

There are different time frames for repayment of different loans. Each loan type comes with it’s own interest plan and time frame for repayment so there is no fixed interest rate on the loans.

A loan calculator is available on your dashboard to calculate the amount you ought to repay monthly.

Unfortunately, the answer is no, non-members can’t apply for loan at Cloud Cooperative. To be eligible for a loan with cloud cooperative, you have to be a member as that is the eligibility for a loan.

A member cannot stand as a self-guarantor because it is the member who is taking the loan. Also before a person can qualify as guarantor(s), he/she must be a member of Cloud Cooperative and the amount in the savings account of such guarantor(s) must be more than of the loan he/she is standing as a guarantor for.
When you get selected by a member to guarantee a loan, you will be notified on your dashboard and on your email to either accept or decline the request.
Members have membership ID peculiar to them. You can differentiate your guarantor from other members through their membership ID.
You can stand as a guarantor for more than one person as long as your cumulative savings doesn’t exceed the amount you want to guarantee the parties


Your BVN is required to validate your identity, kick against identity theft and multiple accounts. This ensures another level of safety for your funds and transactions.

Share Capital

As a member of Cloud Cooperative,
Shares are a compulsory one off payment deducted from members savings after 3 to 6 months of membership. This is inline with the Bye-Laws of the Cooperative Society and a required payment from every Cooperator.

This shares will be a total of NGN 10,000 in which your registration fee covers for the first part of the payment while, the remaining balance will then be deducted from your contributions after six months.

Ready to start saving?