By Gafar Alabi,

When people speak about cooperative societies, the idea that often comes to mind is simple: a group of individuals pooling resources to support one another financially. At their core, cooperative societies are voluntary associations formed to help members meet shared economic, social, or financial needs through a jointly owned and democratically managed structure. Members contribute funds through regular savings, which are then used to provide loans, financial assistance, or other forms of support that improve the well-being of the group.

The primary objective of such societies is to promote mutual support, economic empowerment, and shared prosperity among members. Unlike profit-driven enterprises, cooperative societies focus on the welfare of their members, promoting principles such as cooperation, transparency, equality, and collective responsibility. Members typically enjoy equal voting rights in decision-making, regardless of their financial contributions.

Across many communities, cooperative societies play a vital role in helping members access credit, support small businesses, manage savings, and improve their standard of living through collective effort. However, the Al-Hayat Relief Foundation, headquartered in Ijebu-Ode with branches across several parts of Nigeria, goes beyond the traditional cooperative structure. The foundation provides loans to members based on their financial capacity without charging interest, unlike many conventional cooperatives that offer loan facilities with interest calculated as a percentage.

Founded in 1997 by just six members, the organisation has evolved into a vibrant humanitarian and community development platform. While many cooperatives focus primarily on financial activities such as savings and loans, Al-Hayat combines economic empowerment with social responsibility and humanitarian service.

As a humanitarian platform, the foundation supports vulnerable members of society, including widows, orphans, and the less privileged. Through various relief interventions, it provides assistance to individuals facing economic hardship, health challenges, or emergency situations. These efforts reflect the organisation’s commitment to compassion, solidarity, and the welfare of humanity.

In addition, the foundation contributes to community development by promoting unity, cooperation, and collective progress. It encourages members to support one another not only financially but also morally and socially. By fostering a spirit of brotherhood and shared responsibility, the organisation strengthens community bonds and promotes sustainable development. The foundation also promotes educational advancement and youth empowerment through mentorship and moral guidance, recognising that education and character development are essential for societal growth.

Today, the organisation operates 124 branches across several states, including Ogun, Lagos, Oyo, Osun, Ondo, Kwara, and parts of the North-Central region, with more than 25,000 members across its operational zones. The foundation operates in accordance with Islamic principles. In the Holy Qur’an, Allah says: “O you who believe! Fear Allah and give up what remains of interest, if you are indeed believers.” (Qur’an 2:278).This verse emphasises that while profit through legitimate trade is permissible, charging interest on loans is prohibited. This principle underpins the foundation’s operations, which are rooted in Islamic values of charity, compassion, and social responsibility.

The schemes of the foundation include development levy, shares, savings, Takaful(Insurance), Ileya savings, retirement savings, Hajj and Umrah savings, target savings, children’s savings, and building project contributions, among others. Its loan facility is also structured to ensure convenient repayment for members, with beneficiaries often given up to 30 months to repay their loans without undue pressure. Through these initiatives, many members have strengthened their financial capacity, while numerous small and medium-scale businesses have benefited from the support provided by the foundation.

Beyond financial services, the foundation remains committed to humanitarian and welfare interventions. It regularly provides assistance to people in need, particularly during emergencies, through initiatives such as Zakat and Sadaqah, which support members facing health challenges or financial hardship. These efforts distinguish the organisation from many conventional cooperative societies and have positively impacted numerous beneficiaries. Furthermore, the less privileged, especially within the Muslim community, have benefited immensely from the foundation’s charitable activities. During the holy month of Ramadan, several branches organise Iftar programmes for members and the needy. For example, the Abule-Oloni branch established a special committee to provide meals for Muslims who were unable to break their fast.

To strengthen its operations and align with global best practices, the foundation has also introduced the Al-Hayat Mobile App, transitioning from paper-based operations to a digital platform. This innovation enables members to carry out transactions conveniently, while those less familiar with technology receive guidance from trained personnel. Indeed, the foundation has grown into a platform for collective progress where members develop economically, socially, and spiritually. It encourages mutual support, shared prosperity, and community solidarity.

As the organisation marks its 29th anniversary, it stands not merely as a cooperative society but as a movement for social welfare, economic empowerment, and community transformation. This milestone reaffirms the principles that have guided Al-Hayat for nearly three decades: trust, integrity, service, and empowerment.

Gafar Alabi,

Public Relations Officer, Al-Hayat Relief Foundation, Abule-Oloni Branch, Abeokuta, Ogun State.