The Federal University of Technology and Environmental Sciences, Iyin-Ekiti (FUTES-IYIN), has launched its Staff Cooperative Multipurpose Society to promote savings, financial empowerment and improved welfare among members of staff.

The initiative was unveiled during the maiden Congress of the Cooperative Society, where the university management and cooperative leadership urged staff to actively participate in the scheme and support its growth.

The Registrar of the university, Mr. Oluwole Dada, represented at the congress by Mr. Dare Aladeloba, encouraged members of staff to embrace the cooperative as a platform for collective financial advancement.

Aladeloba, speaking on behalf of the Registrar, said active participation in the society would strengthen staff welfare and create opportunities for members to improve their financial wellbeing.

The Bursar, Mrs. Ajayi Rachael, urged members to operate the cooperative with trust, honesty and strict adherence to its rules and regulations.

Drawing from her experience as a cooperative society chairman, Ajayi stressed the importance of integrity, transparency and accountability in sustaining the society.

She also encouraged members to develop a consistent savings culture, noting that the cooperative should not be viewed solely as a means of accessing loans but as a platform for building long-term financial security.

The University Librarian, Professor Isaac Busayo, commended the establishment of the cooperative, describing it as an initiative capable of contributing significantly to the financial wellbeing of staff.

Earlier, the President of the Cooperative Society, Mr. Adebayo Kehinde, said the society was established to serve the interests of staff and provide opportunities for collective financial empowerment.

Kehinde appreciated the university management, led by the pioneer Vice-Chancellor, Professor Gbenga Aribisala, for approving the establishment of the society.

He assured members that the leadership would uphold transparency, accountability and responsible management, while identifying savings, access to loans and collective financial empowerment as key objectives of the society.

The maiden Congress also featured presentations on the operational guidelines of the cooperative, including contribution requirements and loan eligibility.

Members further participated in an interactive question-and-answer session, seeking clarifications on various aspects of the society’s operations.