Madelyn Microfinance Bank Limited SBU

 

Madelyn Microfinance Bank Limited is incorporated in Nigeria and licensed by the Central Bank of Nigeria (CBN) to carry on microfinance banking business. Our management team is made up of seasoned and distinguished professionals from diverse background – Banking, Oil & Gas, General Commerce and Financial Advisory. The Bank’s Corporate Headquarters is located at Madelyn House, 82 Grace Bill Road, Eket, Akwa Ibom State, Nigeria.

The Bank has over the years disbursed micro credit to over 120,000 individuals and groups in Akwa Ibom State. In addition, the Bank is the official Bank of Akwa Ibom State Government for the disbursement of the Akwa Ibom State

Government/Central Bank of Nigeria Micro Credit Loan scheme in Eket Senatorial District and environ. A scheme adjudged by beneficiaries as the best.

The goal of the bank is to advance the frontiers of microfinance banking in the country. The bank’s philosophy is driven by its quest to exceed the expectations of our customers and stakeholders.

Vision

The vision of the Bank is to be an exceptionally rated microfinance services provider to alleviate poverty by enhancing the economic base of the no income, low income, and self-employed, through increased access to credit, savings and efficient service delivery.

Mission

Our mission is to exceptionally exceed expectations in achieving the generally acknowledged micro financing through efficient customer service delivery, well-motivated workforce and state-of-the-art technology while creating value for stakeholders, abiding by the greatest professional and ethical standards, and building a continuing institution.

Shared Values

The Bank’s corporate uniqueness is centred on six deep-seated values which are hinge on the acronym HELPER – Humility, Ethics, Loyalty, Perfection, Empathy, and Resilience.

Humility:

We are modest, unassuming, and respectful to all by shifting the focus away from ourselves and continually recognizing the contributions of others. To us, humility is the True Greatness.

Ethics:

We will be a catalyst in fostering ethical practices in individuals, institutions and business through transparency, complying with rules & regulations, and good corporate governance. We will remain a honourable organization with a high degree of integrity in all our business transactions.

Loyalty:

Show strong internal and external loyalty by being faithful to commitments or obligations of our customers and stakeholders to earn their trust while ensuring employees’ total devotion to the aspirations of the bank.

Perfection:

We will be an exemplification of supreme excellence by exceeding the maximum possible standards through meticulous attention to details. We will continually distinguish ourselves as an efficient, innovative and quality organization.

Empathy:

We will identify with another's feelings by being sensitive to and putting ourselves in the place of our customers and stakeholders and by responding creatively to their needs, expectations, and ambitions.

Resilience:

Our character attribute is to respond successfully to challenges by anticipating, confronting, and managing all challenging situations. Our enterprise spirit makes challenging situations motivating, and we know that our Resilience in the face of adversity will contribute to excellent performance, deeper life satisfaction, and happiness for all stakeholders.

Brand Driver

Our brand driver is the quest to exceptionally exceed expectations (3es).

PRODUCTS AND SERVICES OF THE BANK

 We have array of financial products and services that are adapted to meet the financial needs of our various customers. Specifically, our products and services address the requirement of our clients in the areas of savings, investments, borrowings, and advisory services. They include:

SAVINGS ACCOUNT PRODUCTS: 

1. Madelyn Regular Savings Account (Madelyn Regular):

Madelyn Regular Savings Account is a savings account that is not only affordable but also enables customers to enjoy all the benefits of a regular savings account.

Features:

• Affordable minimum opening balance
• Affordable minimum balance
• Attractive interest rate
• Access to ATM debit card
• SMS Alert

2. Madelyn Prestige Savings Account for Individuals (Madelyn Prestige- i):

The Prestige Saving Account for Individual is a unique savings account that gives an individual the flexibility of a current account. The account provides cheque books that can be cashed at any of our branches.

Features:

• Minimum opening balance of N5,000.00
• Minimum operating balance, N2,000.00
• Customized cheque for withdrawals
• Allows third party withdrawals
• Attractive interest rates on balance
• Withdrawals limited to 2 times in a month
• ATM debit card
• SMS Alert

3. Madelyn Prestige Savings Account for Enterprises ( Madelyn Prestige-e):

Features:

• Minimum opening balance of N15,000.00
• Minimum operating balance N5,000.00
• Customized cheque for withdrawals
• Allows third party withdrawals
• Attractive interest rate
• Withdrawals limited to 4 times in a month
• ATM debit card
• SMS Alert
• Telephone Banking Service

1. Madelyn Merry-Go-Round Savings Account (Madelyn Merry-go-round):

Madelyn Merry-Go-Round Savings account is for children of birth up to 17 years of age. With Merry-go-round, you inculcate in your children/wards a savings culture while saving up for their future. Children’s cash gifts at naming ceremony, birthday parties, etc can be used to open this account.

Features:

• Minimum opening balance of N2,000.00
• Free Standing Order for parents/guardians who are Madelyn Bank account holders
• Attractive interest rates
• Free ATM debit card if the age of 13
• Allows lodgement of cheques/dividend warrant
• SMS Alert

CURRENT ACCOUNT PRODUCTS: 

1. Madelyn Individual Current Account (Madelyn Individual Current) This is a transaction account designed for individuals to carry out their daily transaction with convenience and ease. It provides the customer with ready access to funds through cheques made payable at any of our branches.

Features:

• Minimum opening balance of N5,000.00
• Minimum operating balance, N2,000.00
• Customized cheque for withdrawals
• Allows third party withdrawals
• No limit to the number of times to drawing
• ATM debit card
• SMS Alert 

2. Madelyn Business Current Account (Madelyn Business Current)

This is a transaction account designed for small and medium scale business enterprises to carry out their daily business transaction with convenience and ease. It provides the customer with ready access to funds through cheques made payable at any of our branches.

Features:

• Minimum opening balance of N10,000.00
• Minimum operating balance, N5,000.00
• Customized cheque for withdrawals
• Allows third party withdrawals
• No limit to the number of times to drawing
• ATM debit card
• SMS Alert

INVESTMENT PRODUCTS:

1. Madelyn Fixed Term Deposit Account (Madelyn FTDA):

Our Fixed Term deposit account (FTDA) avails the unique opportunity to invest a fixed amount over a fixed period of time (30 days, 60 days, 90 days, 180 days, 365 days, etc) at a fixed interest rate. It gives the customer the option to reinvest both the principal and interest at maturity or have the interest paid into your current account to meet pressing financial needs while the principal alone is reinvested. Your deposit can serve as a security for a bank loan.

2. Madelyn High Yield Account (Madelyn High Yield)

This is a High Yield investment Account that enables investors (individuals, Businesses, Associations, Clubs, etc.) to earn interest upfront on their investment. With upfront interest, investors can meet urgent financial needs without having to neither break nor deplete your investment. Like the FTDA product, Madelyn High Yield can be used as security for bank loan while earning interest on the investment

3. Madelyn Hybrid Account (Madelyn Hybrid)

Madelyn Hybrid is Savings/Borrowing Account allows businesses, trade, associations, clubs, churches, and families that have cash flow potentials to save towards but achieve their dream projects without waiting to have 100% of the cost. After saving 50% of the cost of the project, the bank will lend the balance of the 50% to enable the achievement of the project. During the period of the loan, the savers will continue to increase their savings and earn interest. Apart from enabling businesses to acquire the necessary equipment/machineries for their trade, families can also pay for the school fees, vocation and training of their children and wards using the Madelyn Hybrid product

BORROWING PRODUCTS:

We offer a wide range of borrowing products designed specifically to our customers’ financial needs and individual lifestyle. Specifically on our borrowing products are

1. Madelyn Business Loan (M Business):

Madelyn Business loan is a working capital loan designed for small scale businesses that desire to borrow for business purposes but lack conventional collateral to secure their loans.

Features:

• Access to loans adequate to your business needs and capacity
• Opportunity to access more funds in the future
• Flexible collateral requirements
• Competitive interest rates
• Flexible and affordable repayments structure
• Business must have been in operations for a reasonable period

2. Madelyn Personal Loan (M personal):

With Madelyn personal loan, you will have access to funds to meet your personal financial needs. It is a short to medium term loan specifically for individuals employed by credible organizations and Sole Proprietors with verifiable, sustained and guaranteed cash flow. The facility assists you pay for both planned expenses and unplanned expenses.

3. Madelyn Salary Advance (M Salary):

Madelyn Salary Advance is designed for staff of credible organizations whose salary accounts are domiciled with Madelyn Bank, and are faced with unexpected and unplanned expenditure that cannot wait till the pay day. It enables the staff to have access to quick fund to take care of emergencies by overdrawing his/her account pending the receipt of salary.

4. Madelyn Micro Lease (M Micro Lease):

With Madelyn Micro Lease, small and medium businesses, individuals, workers in paid employment and as well as reputable consulting firms (Audit, Accounting, Tax, Law, Clinic, Management, etc) can acquire assets and equipment of necessity. These assets include:

• Fridges,
• Deep freezers,
• Refrigerators,
• Gas cookers,
• Generators (mini size)
• Air conditioners,
• Furniture,
• Washing machines
• Personal computers/laptops
• Communication gadgets (mobile phones, handsets)
• Motorcycles (Okada),
• Tricycles,
• Machines etc.
• Electric cookers
• Ovens
• Micro waves

5. Madelyn LPO Financing (M LP0)

This is a credit product designed to enable customers who have LPOs, Work Orders, and Contracts from reputable oil majors but do not have the fund to execute such contracts. M LPO enables you have access to the required fund based on proper domiciliation of proceeds from contract employers.

6. Madelyn Invoice/Receivable Discounting (M Invoice)

This product enables Madelyn Bank to provide funding to customers who have supplied goods/services or executed contracts for which invoices have been

duly accepted for payment. For now only invoices from ExxonMobil qualify for this product.

7. Madelyn Group Loan (M Group)

Madelyn Group Loan is a working capital loan designed for micro-entrepreneurs who are members of a group, club or association. The group can access this loan facility to execute a project or purchase assets of benefit to the group.

8. Madelyn Cards services:

In collaboration with our corresponding bank, we provide card services to meet our customers’ convenience without compromising security and reliability. Madelyn card is a debit card that is linked to your current account and/or savings account. Madelyn Card affords the convenience of making payment anywhere in the country. It reduces the risk of cash handling and it is a widely acceptable, as it can be used in all channels where InterSwitch card are accepted like ATM, POS terminals, WEB and mobile phones.

9. Madelyn Business Advisory Service (Madelyn BAS):

Madelyn Microfinance Bank recognizes the large market of small business customers with various business problems and has put in place Business Advisory Services (BAS) experts will look into these problems in greater detail and proffer advice. Madelyn BAS is not only a problem-solving support for its customers but also backing to those customers with potential to expand faster and more soundly than would otherwise be the case.

2 Madelyn Bureau De Change Limited SBU

 

About Madelyn Bureau De Change

Madelyn Bureau De Change Limited is corporate body licensed by the Central Bank of Nigeria (CBN) as authorized dealers to buy and sell foreign currency in accordance with the provisions of the Foreign Exchange Act 2005.  

Our services are:

• Purchase and Sales of Foreign currencies
• Sell of Personal Travelling Allowance (PTA)

Purchase of Hard Currencies

We buy foreign currencies – Dollars (USD), Pound Sterling (GBP) and EURO from walk- in customer by a simple means of identification such as

• Drivers license
• International passports
• National ID card and
• Reputable company ID card

Sales of hard currencies
(CASH TRANSACTION)

We sell Personal Travel Allowance (PTA) in foreign currencies– Dollars (USD), Pound Sterling (GBP) and EURO to walk-in customers and account holders. The requirements for the sell of PTA are:

• Valid International passport
• Valid visa
• Return ticket

With Madelyn BDC, you can track exchange rates over the last 12 months and get daily rates updates as provided by the Central Bank of Nigeria (CBN).