It is almost seven years now when I joined a credit cooperative. My aunt encourage me to join last 2005 when I was still single and now that I have a family I can really say that it is a good investment. Before the cooperative that I joined was a credit cooperative then it became a development cooperative because it reached a good statistics. It only means that members are growing and their life is progressing.
A cooperative is a business organization owned and operated by a group of individuals for their mutual and finance benefit. The major objective of the cooperative is to help each member in their financial needs by providing affordable financial services. Through the financial programs and services, members not only meet their financial viability but they also learn how to save money. To become a member of a development or credit cooperative, there are certain requirements. A share capital is required to be a member which can be considered as your investment so that you can avail of the financial services and other programs. In 2005, I started a share capital of PhP1,000 and now it became bigger that I can loan up to 6 digit numbers.
Interested? The first thing that you have to do is to search for the nearest cooperative in your area. Make an inquiry and examine the status of the cooperative and the members if they are progressing. You can also check their bulletin board for their updates and financial statistics or speak with the account officer. If you have a friend or relative that is a member of a cooperative then it is best to ask them so you can decide. There are many ways to invest and I consider that being a member of a development cooperative is a good investment. Early birds catches the early worms so act now.