Privacy Policy

Effective Date: February 2026

At Global Business Friends Multi-Purpose Cooperative Society (GBF), we are committed to protecting your privacy and securing your personal and financial data. This policy explains how we collect, use, and safeguard your information when you use our dashboard and services.

1. Information We Collect

To provide cooperative services and evaluate loan eligibility, we collect the following:

• Identity Data: Full name, date of birth, gender, and government-issued ID.

• Contact Data: Email address, phone number, and residential address.

• Verification Data: Bank Verification Number (BVN). Note: We do not store your BVN; we use it only to verify your identity through authorized third-party providers.

• Financial Data: Bank account details, contribution history, and loan repayment records.

• Technical Data: IP address, browser type, and usage patterns on your dashboard.

2. How We Use Your Data

Your information is used strictly for the following purposes:

• Identity Verification: To prevent fraud and ensure "Know Your Customer" (KYC) compliance.

• Eligibility Calculation: To update your Loan Eligibility Progress bar based on your savings habits.

• Transactional Notifications: To send alerts regarding your weekly repayments, successful contributions, or overdue penalties.

• Service Improvement: To analyze dashboard usage and optimize the member experience.

3. Data Security & Storage

We implement industry-standard security measures to protect your data:

• Encryption: All financial data transmitted between your device and our servers is encrypted using SSL (Secure Sockets Layer) technology.

• Access Control: Access to your sensitive data is restricted to authorized employees who require it for operational purposes (e.g., loan approval).

• Third-Party Disclosure: We do not sell your data. We only share information with third parties (like payment processors or credit bureaus) necessary to execute transactions or comply with legal obligations.

4. Your Rights as a Member

Under the NDPR, you have the right to:

• Access: Request a copy of the personal data we hold about you.

• Correction: Ask us to update or correct any inaccurate information.

• Deletion: Request the deletion of your account (subject to the full repayment of any outstanding loans).

• Withdraw Consent: Opt-out of marketing communications at any time.

5. Data Retention

We retain your information for as long as you are an active member of the cooperative. If you close your account, we are legally required to retain certain financial records for a period of seven (7) years to comply with regulatory and tax audits.

6. Cookies

Our dashboard uses cookies to remember your login session and preferences. You can disable cookies in your browser settings, though this may limit some features of the member portal.