All about cooperatives

[summersunder]

around 1.15 lang interest nung coop ko. mas mataas sa normal bank i think pero mababa pa din.

[chefron]

Wala ng 1% ang interest ng bank

[brittani]

Mga sis, question!

Kasi start pa lang ng coop namin. minimum paid-up capital is Php5,000 but the total amount of subscribed share is Php20,000.

Does it mean, to be a member, you have to pay the Php5,000. But you are qualified to receive interest on share capital if total subscribed shares are paid, which is the Php20,000?

Sis, if 20k ang subscribed mo, then you have to continue your monthly contribution hanggang mabayaran mo ang 20K na subscribed mo. Ang 5K mo mageearn na ng interest kasi iyon ang minimum subscribed capital ng coop nyo.

[sexydee]

Thanks sis. Gets ko na rin. Nakapagbasa-basa na ng mga sample by-laws/articles ng ibang coop. Thanks anyway!

More of Manufacturing yung coop namin so mas iba compared sa usual na credit coop. Hopefully magwork nga.

[pinesfly]

my alam akong coop nag ooffer ng 1. something na interest pa for savings and sa time deposit naman is 2.2 percent pa minimum of 150k and up naman siya. yong isa naman is 9percent per pa.

[RoughLady]

@sis tulips28: magkano iyong interest rate dyan sa http://crbbulacan.com.ph/?

[OD]

Ang mga company cooperatives ba talagang exclusive for employees lang? Has there been incidents where coops enter into agreements to accommodate outsiders? I assume this could be possible when the coop eyes to garner more funds for their programs and then the investing party(non-member) will gain the same interest rates as with the employees but the amount of investment required, of course, would be higher.

[jmeangeL]

what our company coop did was tie-up with another lender (outside) and made a deal.  so that they can allow members to borrow sums much larger than what's allowed inside the company coop.  sort of a guarantor deal.

the company coop will do the payment collections from the members and remit it to the lending company.  as a reward, the lending company will let coop members borrow money at the same coop rates.  the coop will also get 1% of the borrow amount (from the lender) as commission.

but still, outside folks are not allowed to borrow money.

it was good for members whose main purpose of joining the coop was to borrow money; but never good for members whose purpose was to invest their money.  it also encourages borrowing and spending more than what you have, leaving the member's payslip high and dry

[chiqmom]

I am planning to invest din sa cooperative. 1% per annum ang interest.


EDITED:

Sorry sis its my mistake, the interest rate should be 10%, not 1% 

[luckymommy88]

^sis parang ang liit naman kung 1% per annum.

kina hubby's company coop  naman natry namin last year magshare ng 15k/monthly, by december he got 181,500 so we assume its 10% pero annum, kahit na yung nahulog lang ni hubby is 11mos same computation pa din. ayaw din naman divulge daw ng admin how they compute it.anyway happy na din so this year we increased our monthly share. employees lang ang pedeng magshare and mag-loan.

[ikaela]

Ang liit nga ng 1% p.a. Parang bank lang. Yung sa cooperative sa amin, 2% p.a., sa savings account pa lang. 8-11% naman kapag time deposits. Up to 15-20% kapag special savings. Tapos meron pang dividends.

[phexchanger]

I am a member of ACDI and so far, ok naman ang returns last year. Much better than a bank kasi we opened separate accounts for the kids sa bank at ACDI then after a year compare the returns. Manghihinayang ka tlaga, dapat sa cooperative na lang lahat ipinasok at hindi sa bank

[luckymommy88]

chiqmom, no problemo,

^sis what is ACDI?

[phexchanger]

^ACDI lang sya sis. Eto po website nila - http://acdicoop.com/

[lanee_beu]

sis phexchanger, pano maging member ng ACDI? ang laki ng interest nila

[luckymommy88]

^^thanks sis

[mxherr5]

This is what the site says:

Who are qualified to become members?

PAF, PN, PMC military officers and enlisted personnel
PAF, PN, PMC civilian employees
All AFP pensioners
Immediate dependents and relatives of ACDI members
Purely civilian who are residing or working within ACDI’s area of operations or within the ACDI community
Permanent employees of commercial airline companies
Others as may be approved by the cooperative’s Board of Directors


I wonder if living in Cubao can be considered as residing with
ACDI's area of operations?

[phexchanger]

sis lanee_beu, actually pinafill up lang kami dati sa office dati. AMSLAI sana ako mag oopen ulit pero mas maproseso pagmember sa kanila. Much better if you visit one of ACDI branches.

Expect na magvary ang returns kasi cooperative yan, so depende sa income ng coop.

[mxherr5]

I confirmed that a resident of Cubao can join the coop.

But contrary to what phexchanger said, there really
isn't much in the way of dividends. Ang max sa capital
contribution shares is just 5,000 so kahit 18% pa ang divdends,
hindi ganun kalaki makukuha mo in absolute terms.

More on deposit and investment products dito with
a fixed term/rate.

50k ang initial savings deposit pag civilian. 

[phexchanger]

^yes, nagtaas na nga sila ng initial savings deposit. Noong nag start kami ay capital share lang muna, 8K ata though pwede namang hindi biglaan, inuna ko sa kids (tig isa sila ng account) kasi mas mataas ang rate, then iyong sobra sa capital share ang napunta sa savings.

Ang savings nila, mas mataas pa rin interest kesa sa bank rates. Nacompare ko kasi may regular bank savings din para sa kids.