Banking Solutions
CoopApp Alhuda
Coop App Alhuda
Coop App Alhuda Omni-Channel platform, represents a leap forward in technology, seamlessly integrating across web portals and mobile applications. With tailored solutions designed for businesses and individual retail customers, this innovation ensures enhanced accessibility, convenience, and security in managing Conventional banking financial solutions.
Why Use Coop App Alhuda?
Experience banking convenience with the flexibility of both conventional banking and interest-free banking services, all conveniently located in one place. Applications and web provide a seamless and consistent user experience across various channels and devices.
Efficiency
No more waiting in line or dealing with payment hassles
Diversification
Access a wide range of financial products and services.
Uniformity
Enjoy a consistent operational experience across all channels.
Easily view
Customizable
Choose authentication methods such as biometrics or PIN for secure access.
Security
Temporarily block account access in case of lost or stolen devices or suspicious activity.
Accessibility
Locate nearby branches and ATMs for quick and convenient access to services.
Insight
Access real-time account monitoring and transaction history and much more.
Retail Banking
Leveraging the latest technologies to create personalized, seamless experiences for customers across various digital touchpoints, it offers services such as online and mobile apps, catering to the convenience of customers, providing access to information, and transactional services anytime, anywhere.
• Various banking services for personal transactions.
• Monitor and manage finances with ease and convenience.
• Enjoy secure and convenient online bill payment functionality.
• Easily view and edit personal information and account settings.
• Empowers to manage finance via mobile apps and online banking interactions.
• Allows to enjoy a seamless experience.
• Enables to manage accounts, make transactions and acces banking services 24/7.
Business Banking
Business banking enables business customers to interact with their finances seamlessly across multiple channels. It helps businesses simplify their financial management processes and ultimately achieve operational excellence.
•Provides access to a wide range of financial products and services across all channels.
•Enables utilization of online banking services to manage financial activities.
•Enables easy management of financial activities, streamlines workflows, and reduces operational costs.
•Enable easily create and manage signatories to your accounts, enhancing convenience and efficiency.
•Utilize approval matrices to maintain control over transactions and account access.
Getting started is simple
The following steps will guide you through the application process for CoopApp Alhuda.
Download the app
Download the most recent version of CoopApp from the Google Play Store or the App Store.
Choose Retail Banking.
Enter your account number and Captcha
Enter your account number along with the provided Captcha code for secure access to your account.
Enter the activation ID & code
Enter the activation ID and code sent to your phone via SMS to complete the activation process. Verify your identity and unlock access to your account.
Enter a password
Enter a password with a minimum of 8 alphanumeric characters for secure access. Ensure your account's safety by creating a strong and unique password.
Register for CoopApp Alhuda
Register for CoopApp account.
Click on Register Now.
to create your account and gain access to our services.
Select Activate Now.
to initiate the activation process quickly. Begin enjoying the benefits of your account in just a few simple clicks.
Choose a username
Choose a username with at least 8 characters and we'll check its availability for you.
You're done!
You're done! start your transaction and enjoy your day.
Farmers’ Savings Account
Farmers’ Savings Account
Farmers’ Savings Account is a savings account uniquely designed for farmers – engaged in agriculture, pastoralists and fishing with attractive interest rates. The product is designed to specifically encourage the unbanked and underbanked farmers to save and transform their living via banking practices.
With a literacy rate of only 51.7%, the country’s farming communities are prone to; frequent drought, lack of training and equipment, poor access to markets, and a low level of saving habits. The extravagant nature of spending during harvest seasons is mainly the driving factor of the low saving culture of the country.
Through enhanced banking practices farmers can improve their livelihood by developing their saving culture, access to finance and basic technical support, obtain advisory services, purchase of new agricultural techniques and inputs, secure better seeds, fertilizer, and chemicals.
The product will have the following requirements and features;
- The initial deposit is ETB 25.
- All requirements for opening accounts shall be applicable, such as two passport-sized photographs, renewed ID cards including Farmers’ Association ID cards, land ownership certificates, Pension ID cards, or others.
- Better and attractive interest rates will be paid for this account higher than that of the regular savings account.
- Capacity building and financial literacy trainings will be given, especially for well-performing savers.
- Reward on a lottery method is arranged for beneficiaries of this account. Accordingly, various prizes related to and relevant to the agriculture sector will be offered by the bank.
Benefits of the Product for Farmers
- It will assist the farmers to cover their operational expenses, expansion of their operation, or taking advantage of new opportunities available to them.
- It also enables the farmers to build a better future and investment.
- It will improve the farmer’s access to banking services and modern agricultural inputs and techniques.
- Apart from saving contributions to farm inputs, it enables the farmers to send their children to schools.
Non-Resident Accounts
Types Of Non-Resident Accounts
- Non-Resident Foreign Currency Account
- Non-Resident Non-Transferable Birr account
- Non-Resident Transferable Birr Account
- These accounts are opened for those organizations and individuals who are permitted to open NR – FCY accounts,
- Opening criteria and procedure are the same as that of the NR – FCY account,
- The balances of these accounts are expressed in Birr,
- Transfers from these accounts are exempted from the exchange commission,
- As the name itself indicates the balance of these accounts can be converted or transferred abroad or to NR – FCY account without prior approval of NBE.
Eligibility
- Diplomatic mission offices,
- Diplomatic mission staff (except for Ethiopian nationals),
- Members of the International Community,
International organizations and their organs.
Agricultural Investment Loan
Agricultural Investment Loan
It is a short to long term loan granted to Cooperatives, Associations, Commercial Farms, or Individuals for working capital as well as purchase or lease of buildings, agro-processing machinery, and equipment (such as water pumps, generators, combine harvesters, tractors, vehicles, coffee processing machines, etc.), for plant and animal production (dairy production, poultry production, and livestock fattening activities) in small/medium/large-scale farming, construction of storage facilities, etc.
The bank gives priority to modern commercial agriculture ventures that produce for the export market and may finance both rainfed and irrigation system farming. The bank may provide a maximum grace period of five years for plantations like coffee plantation and a maximum of two years for other agricultural farms.
Agricultural Input Loan
Agricultural Input Loan
Fertilizer Loan
It is a short-term agricultural loan granted for the purchase of fertilizers. The applicant can be Cooperatives, Associations, Commercial Farms, Individuals, or Regional State. Applicants that are established as Cooperatives or Associations may be extended clean based fertilizer loan; however, they have to:
- Acquire legal personality from the concerned governmental organ.
- Present Minutes of a resolution passed by at least three-fourths of the members of the General Assembly of their Cooperative /Association.
- Provide audited financial statements.
- Employ a Manager and an Accountant/Bookkeeper; and
- Present letter of guarantee from the Regional Government which in turn shall present a letter of guarantee from the Ministry of Finance and Economic Development.
Other Agricultural Input Loans
It is a short-term loan granted to Cooperatives, Associations, Commercial Farms, Individuals, and Regional Governments engaged in the agricultural sector for the purchase of agricultural inputs other than fertilizers like improved seeds, and/or agrochemicals.
Import Letter of Credit Settlement Loan
Import Letter of Credit Settlement Loan
Import Letter of Credit Settlement Loan is a form of a loan extended to a borrower by converting the outstanding import letter of credit document’s value either to a merchandise loan facility or to a term loan upon the fulfillment of the required eligibility criteria for a maximum period of one year when a customer is unable to clear the L/C documents due to shortage of cash flow. The customer couldn’t be allowed not more two times a year.
In addition to the General Eligibility Criteria, the customer shall fulfill the following specific requirements.
- The customer’s credit risk shall be grades 1, 2, or 3.
- The bank shall finance only import letter of credits opened at its end.
- The applicant shall not have any other long outstanding import letter of credit document arrived.
- The customer shall apply for a loan within five days after the bank advised the arrival of a letter of credit documents.
Import
Import
Import by Letter of Credit
An import Letter of Credit is an undertaking given by Coopbank to a seller at the request and/or instructions of its customer, applicant ( buyer) to make sight payment or accept a bill of exchange (draft) drawn by the seller to pay it after specific future date provided all terms and conditions of the Letter of Credit are complied with.
Import LCs, sight and acceptance or deferred payments are processed with less turnaround time in our dedicated trade service center with outstanding operational expertise.
Product feature
- The issuing bank makes payment to the beneficiary or exporter against the receipt of complying stipulated documents.
- The bank’s obligation to pay is solely conditioned upon the seller’s compliance with the terms and conditions of the LC
- Payment is made on the basis of documents
- Protect the interests of both buyer and seller
Import by Cash against Document (CAD)
CAD is a payment arrangement in which an exporter instructs a bank (Remitter bank) to forward shipping and title documents to the importer’s bank (Coopbank) with a request to present these documents to the buyer for payment, indicating when and on what conditions these documents can be released to the buyer.
Our Trade service center efficiently process import transactions on cash against payment mode of payment.
Import by Advance Payment
Advance payment is a prepayment method through which a seller receives payment from a buyer prior to shipment of the agreed-upon goods or rendering the agreed-upon service. Allows a special drawing right to the seller to collect payment before presentation of shipping documents.
Import-Payment is through bank transfers
Features
- Goods shipped at seller conveniences
- Payment is received prior to the transfer of ownership of the goods
- Buyer shall not make any payment until they receive the goods.
- Allows the buyer to import goods at relatively lower finance cost.