Question 1

How does Copaddy eliminate bad debts and loan defaults?

Accepted Answer

We use a 3-layer shield: (1) Mandatory BVN/NIN verification and platform-wide credit checks screen every borrower upfront; (2) Automated Standing Orders & Direct Debit mandates sweep loan installments directly on payday; and (3) Automated SMS, WhatsApp, and email alerts remind borrowers before due dates.

Question 2

Can our cooperative configure our own loan multipliers and interest rates?

Accepted Answer

Yes. Set your own waiting period, 2x or 3x savings multiplier, flat or reducing interest rates, and multi-Exco approval chain (Secretary → Treasurer → President).

Question 3

Can a Treasurer, Coordinator, or Copaddy staff run away with our group funds?

Accepted Answer

Never. All cooperative and Osusu funds sit in segregated corporate vaults with CBN-licensed, NDIC-insured partner financial institutions and require multi-signatory Exco approval.

Question 4

How much does it cost to create and run our cooperative on Copaddy?

Accepted Answer

Creating and configuring your cooperative or Osusu workspace is 100% free with zero upfront software license fees — only a tiny, transparent processing fee on active collections and payouts.

Question 5

How do you stop someone from collecting #1 hand in an Osusu and disappearing?

Accepted Answer

Early rotational payout slots are restricted to BVN-verified contributors with strong platform credit scores and active bank direct-debit mandates.

Frequently Asked Questions

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