Chief Komolafe was the President of the Friends’ Assembly Cooperative Union (FACU) for two years. In those years, his astute managerial abilities and humane leadership qualities endeared him to all and sundry. His popularity was such that many times, members mooted the possibility of extending his tenure beyond the constitutional two years. Until one loan facility changed everything.
His friend of many years had gone broke in the middle of an important project. Desperate for funds, he ran to Chief Komolafe for help. Chief advised him to join the Cooperative, run the account for a while and then request a loan facility. But his friend did not have the luxury of time. He convinced Chief to use his own account to stand for him. Chief did; got the loan and gave his friend.
Midway into the repayment plan, Chief’s friend was involved in a car crash. He lost both legs and became confined to a wheelchair.
Chief was devastated that his friend’s unexpected incapacitation would render him unable to service the loan, thereby jeopardizing the Society’s financial buoyancy. He remembered how just three years earlier, the Chief-led Executives had refused to hearken to an FBNInsurance Financial Advisor who had tried unsuccessfully to have them take out an FBN Insurance credit life policy. Now he wished he had listened. With the credit life policy in place, the Cooperative would never have had any qualms recouping its loan.
Do you belong to a Cooperative Society? Prevail on your Society to buy an FBN Insurance Credit Life policy today to protect the society from all loan related eventualities.
Reach out to us now:
Call 01-9054380, 01-9054364-5, 01-9054444.