Terms of Use
Welcome to Better Life Multipurpose Cooperative Society (“Better Life,” “the Cooperative,” “we,” “our,” or “us”). These Terms of Use govern your access to and use of our website, mobile application, digital platform, and related services (collectively, the “Platform”). By accessing or using the Platform, you agree to be bound by these Terms of Use. If you do not agree, please do not use the Platform.
1. About Better Life
Better Life Multipurpose Cooperative Society is a duly registered cooperative society in Nigeria, offering technology-enabled cooperative savings and investment solutions. Better Life operates as a subsidiary of Egoli Investment Advisory, which provides professional management, governance oversight, and investment advisory support. Better Life is not a bank and does not operate as a deposit money institution.
2. Eligibility
To use the Platform, you must:
- Be at least 15 years old, or have parental/guardian consent where applicable
- Provide accurate and complete registration information
- Have the legal capacity to enter into binding agreements
We reserve the right to verify member information and suspend or terminate accounts that provide false or misleading details.
3. Membership
- There is no membership or registration fee to join Better Life.
- Membership is subject to acceptance of these Terms and compliance with cooperative rules.
- Membership does not guarantee profits or returns.
4. Use of the Platform
You agree to use the Platform only for lawful purposes and in accordance with these Terms.
You must not:
- Use the Platform for fraudulent, illegal, or unauthorized activities
- Attempt to gain unauthorized access to systems or data
- Interfere with the security or operation of the Platform
We may suspend or restrict access if misuse or suspicious activity is detected.
5. Savings Plans & Contributions
- Members may create individual, group, or goal-based savings plans.
- Contribution frequency and minimum amounts vary by plan and are displayed on the Platform.
- Members are responsible for ensuring sufficient funds for automated contributions.
Better Life is not responsible for failed contributions due to insufficient funds or third-party payment issues.
6. Investments & Returns
- Member funds are deployed through low-risk, diversified investment strategies.
- Returns are not guaranteed and depend on market conditions and investment performance.
- Past performance does not guarantee future results.
Returns are credited according to the specific terms of each savings plan.
7. Withdrawals
- Withdrawal terms vary by product and plan.
- Some plans may restrict withdrawals or apply penalties for early access.
- Processing timelines are communicated on the Platform.
Better Life reserves the right to delay withdrawals where required for verification, compliance, or liquidity management.
8. Group Savings
- Group savings accounts require a designated administrator.
- Better Life provides the digital infrastructure, but is not responsible for internal group disputes.
- Group members are responsible for understanding group rules and payout structures.
9. Risk Disclosure
All financial activities involve some level of risk. While Better Life prioritizes capital preservation and prudent investment management, members acknowledge that:
- Returns may fluctuate
- Losses, though minimized, are possible
- Economic or regulatory changes may affect performance
Members participate at their own discretion.
10. Security & Data Protection
We use reasonable technical and organizational measures to protect member data and accounts. However, members are responsible for:
- Safeguarding login credentials
- Reporting unauthorized access immediately
Our data handling practices are governed by our Privacy Policy.
11. Intellectual Property
All content on the Platform—including text, logos, designs, and software—is the property of Better Life or its licensors and may not be copied, modified, or distributed without permission.
12. Limitation of Liability
To the fullest extent permitted by law, Better Life shall not be liable for:
- Indirect or consequential losses
- Losses arising from market conditions
- Third-party service failures
- User errors or misuse of the Platform
13. Suspension & Termination
We may suspend or terminate access to the Platform if:
- These Terms are violated
- Fraudulent or illegal activity is suspected
- Required by law or regulation
Termination does not remove obligations incurred before termination.
14. Amendments
Better Life may update these Terms from time to time. Changes will be posted on the Platform, and continued use constitutes acceptance of the revised Terms.
15. Governing Law
These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
Contact Information
If you have questions about these policies, please contact us:
For Loans:
+234 813 111 1111
For Savings:
+234 813 111 1111
Toll free number:
+234 813 111 1111