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Who We Are


TRANSFORMATION OF THE SOCIETY:
The Society was first registered as Gulf Oil Employees Cooperative Society in 1966. It Changed name to Chevron Employees Cooperative Thrift and Credit Society Limited (CECT & CS LTD) in 1995 in line withthe host company’s change Management. It was Upgraded to Chevron Employees Multipurpose Cooperative Society (CEMCS Ltd) In 2006 to capture its increasing membership and business scope. The primary objective of the Cooperative is encapsulated in its motto ‘PEOPLE HELPING PEOPLE”. It is a total life business.

Other Operating Features include:
- To savour the benefits of future in present day life.
- To build a savings and investment culture in our members and operations.
- To assist members in actualizing their goals of owning assets (tangible) through granting of loans at very competitive prices.
- Has almost 3000 members consisting of all categories of CNL National, Expats and Retirees. Over 34% of members are based in Lagos, 38% in Escravos, Others are in Retirement, Warri, Port Harcourt, offshore, Abuja and on training assignments overseas. i.e. USA, UK, Canada, Korea, etc.


Relationship with Host Company
- CEMCS in Chevron parlance is known as Chevron Credit Union.
- CNL support CEMCS with deductions of all members obligations - Savings, Loans etc. from payroll.
- CNL also provides office space
- CNL provides hardware and software support
- CNL grants employees of the society access to its facilities and training programmes.
- The Society has continued to add value to CNL in many ways especially in supporting the company’s policy 530 ‘Protecting People
   and the Environment’.


Major Milestones:
Some of our major milestones include high increase in product volume and diversification covering the following:
- Asset base and Net worth of over N10 Billion naira and a group asset of over N22billion.
- Total computerization of Operating and Financial Systems.
- Online Real time application, processing and approval of all applications.
- Direct payment platform.
- Over 200 product s, Financial derivatives and services.
- Several Estate being facilitated for members and the public.

CEMCS offers a conglomerate of products and services to its esteemed members, investment public and stakeholders.

Same of the products are as follows:
- Savings & Loans
- Money & Capital Market Investment
- Equipment Acquisition
- Rentals & Leasing
- Commodities and Consumable
- Banking & Insurance Services
- Project & Facility Management
- Travel & Leisure
- Business & Financial Advisory
- Research & Development