Conceived in 1985, we are a Christian cooperative investment and credit society helping brethren build financial independence, secure accommodations, and save for the future.
Life is rooted in new beginnings. The idea of starting a cooperative investment and credit society whose members must be "of good character" was conceived in 1985 by Sis. Alice Adesokan and supported by her husband Bro. Richard Adesokan, making them the visionaries of the society.
The inclination was felt when Mrs. Alice Adesokan had a discouraging and disappointing experience from the officers of a cooperative society she belonged to at her place of work. At the time, borrowing from individuals in the church fellowship was becoming a burden which could affect Christian integrity if borrowers default.
"If you want something you've never had, you must be willing to do something you've never done."
— Thomas Jefferson
The Adesokans encouraged themselves in the Lord out of the unjustified disappointment according to Romans 8:28: “... all things work together for good, for those who love God and are called according to His purpose.” They concluded that the disappointment should be utilized as an opportunity to start a Christian cooperative society among Christian brethren in Christ’s Ambassadors Evangelistic Team (CAET).
The vision was shared among brethren with the position that it would be independent of the intrusion of non-cooperative laws by the authority of Christ’s Ambassadors Evangelistic Team (CAET).
The concept was inspired by the first church after the Pentecost experience in Acts 4:32-34: “...and the multitude of them that believed were of one heart and one soul, neither said any of them that ought of the things which he possessed was his own, but they had all things common... neither was there any among them that lacked”.
The society started in 1985 as the Overcomers Thrift, Investment and Credit Cooperative Society.
Official Registration: On 19th June, 1993, the Certificate of registration was presented ceremoniously by the Registrar of Cooperative Societies of Oyo State at the GOODNEWS House, Basorun, Ibadan, naming the society Basorun (Ibadan) Overcomers Cooperative Investment and Credit Society.
Arising from the difficulties faced by brethren in the fellowship to pay school fees, settle routine expenses, and save during the raining days, the society is envisioned to achieve the following:
Encourage savings from members' income towards capital investment for the raining day as Joseph counselled Pharaoh in Egypt (Gen. 41:33-57).
Improve the overall financial status and livelihood of brethren who are registered members of the society.
Ensure money is readily available for the needy through credits and loans which will be paid back with integrity (2 Cor. 8:14).
Affirm the sufficiency of Christ in believers, operating on scriptural foundations of self-help and solidarity (Deut. 15:6).
Train couples not to depend on others for their responsibilities such as payment of children’s school fees, clothing, and feeding.
Discourage members from keeping hard-earned income in commercial banks where it is subject to under-utilization or mismanagement.
Encourage savings towards building personal accommodations to avoid problems with hostile landlords and secure freedom of worship.
