Development/ Credit Cooperative is a good investment

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.

credit cooperative passbook investment

credit cooperative passbook investment

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.

 

Comments

5 responses to “Development/ Credit Cooperative is a good investment

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  2. Wow, big coop siguro yung sa inyo sis. 4000 pesos minimum fixed capital samin pero ang max amount that you can loan is 200% of you share capital. How much is the annual rate?

    • Sis year 2005, share capital requirement is only PhP1000. Currently I heard 5K na ang minimum. What do you mean by annual rate? Wala kaming binabayaran na annual fee. Debit interest ba yan? Depende kasi sa annual earnings ng coop namin yan.. may percentage.. According sa reports, isa sa mga top COOP yung BLDPC (Birhen ng Lourdes Development Parish Cooperative) yan ang COOP ko.

  3. Pingback: Basic qualifications and requirements of a cooperative | Cash and Investment

  4. Credit Cooperative can really help especially if they also have products like insurances, educational loans, medical and dental loans. I love my cooperative now. 🙂

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