Privacy Policy

The Society acts as the Data Controller for personal data collected from members and prospective members. Our contact details are:

• Address: Ifedapo Road D, 11 Sola Adediran Close, Behind Jeje Petrol Station Alakia, Old Ife Road, Ibadan.
• Email: info@ifekoredecicu.com
• Phone: 08033239882, 08035389073

We collect the following categories of personal data:

• Identity data: Full name, date of birth, gender, National Identification Number (NIN), BVN.
• Contact data: Home address, phone number, email address.
• Financial data: Bank account details, savings history, loan records, contribution history, levy payments.
• Employment data: Employer, occupation, and income information (for loan assessment).
• Next of kin data: Name, relationship, and contact details of your nominated next of kin.
• Usage data: Information about your use of our mobile application and digital services, including login times and transaction activity.

We collect your personal data through:

• Membership registration forms (physical and digital).
• Loan and service application forms.
• Our mobile application and online portal.
• Direct correspondence (email, phone, or in person).
• Third parties such as guarantors, employers, or credit bureaus, where lawfully permitted.

We use your personal data for the following purposes:

• To register and manage your membership.
• To process savings contributions, withdrawals, and loan applications.
• To assess creditworthiness and manage loan repayments.
• To collect and process levy and fee payments.
• To communicate important notices, meeting announcements, and Society updates.
• To comply with legal and regulatory obligations under Nigerian cooperative and financial laws.
• To resolve disputes and enforce our terms and conditions.
• To improve our services and digital platforms.

We process your personal data based on the following legal grounds:

• Contractual necessity: Processing required to fulfil our obligations as your cooperative society.
• Legal obligation: Processing required to comply with Nigerian law (e.g., AML/KYC requirements).
• Legitimate interests: Processing necessary for the Society's operational and administrative functions.
• Consent: Where you have given explicit consent for specific processing activities.

We do not sell, rent, or trade your personal data. We may share your data with:

• Regulatory authorities: The Corporate Affairs Commission, Central Bank of Nigeria, or other regulators as required by law.
• Financial institutions: Banks or payment processors involved in loan disbursements or savings transactions.
• Service providers: Technology providers who operate our digital platforms, strictly under data processing agreements.
• Guarantors: Limited information shared as required to process loan guarantees.
• Legal advisers: Where necessary to enforce our rights or defend legal claims.

We retain your personal data for as long as your membership is active and for a minimum of 7 years after your membership ends, in compliance with Nigerian financial record-keeping requirements. Financial transaction records may be retained for longer periods as required by applicable law.

We implement appropriate technical and organisational measures to protect your personal data against unauthorised access, loss, alteration, or disclosure. These measures include:

• Encrypted storage of sensitive financial and identity data.
• Role-based access controls on all digital systems.
• Regular security reviews and staff training on data protection.
• Secure transmission of data over our digital platforms.

Despite these measures, no system is completely secure. In the event of a data breach that poses a risk to your rights and freedoms, we will notify you and the relevant authorities as required by law.

Under the Nigeria Data Protection Act 2023, you have the following rights regarding your personal data:

• Right of access: Request a copy of the personal data we hold about you.
• Right to rectification: Request correction of inaccurate or incomplete data.
• Right to erasure: Request deletion of your data where it is no longer necessary, subject to legal retention requirements.
• Right to restrict processing: Request that we limit how we use your data in certain circumstances.
• Right to data portability: Receive your data in a structured, commonly used format.
• Right to object: Object to processing based on legitimate interests.
• Right to withdraw consent: Where processing is based on consent, withdraw it at any time without affecting prior processing.

To exercise any of these rights, contact us at info@ifekoredecicu.com. We will respond within 30 days.

Our mobile application and any web-based services may use cookies or similar technologies to improve functionality and user experience. You can manage cookie preferences through your device settings. Essential cookies necessary for the operation of our services cannot be disabled.

We may update this Privacy Policy from time to time to reflect changes in our practices or applicable law. We will notify members of material changes through official Society channels. The date of the latest update is displayed at the top of this page. Continued use of our services after notification constitutes acceptance of the updated policy.

For any privacy-related questions or to exercise your data rights, please contact us:

• Email: info@ifekoredecicu.com
• Phone: 08033239882, 08035389073
• Address: Ifedapo Road D, 11 Sola Adediran Close, Behind Jeje Petrol Station Alakia, Old Ife Road, Ibadan.

If you are unsatisfied with our response, you have the right to lodge a complaint with the Nigeria Data Protection Commission (NDPC).