A Gain from Investment in a Cooperative

@ARIES1973 (11426)
Legaspi, Philippines
April 26, 2013 5:01am CST
Today, we have our annual general assembly in the cooperative where I am a member. I have been a member of this cooperative for three years and I could say that being a member is a great thing. Everyone was excited in this yearly event because the dividends and patronage refund are being released during the occasion. So I went to the place where the event takes place and was glad to receive the aforementioned additional benefits. I also participated in the voting process in order to select the new set of Board of Directors. I hope our cooperative will continue to grow so that it would continue to give benefits to its members. Are you also a member of cooperative? How was your experience with it? Have a wonderful day everyone!
6 responses
911Ricki
@911Ricki (13588)
• Canada
1 May 13
Glad you sound like you had fun, I remember having this at my old workplace. It was horrible seieng they made it mandatory, and I worked nights. They would carry on and on about nothing, then tell us how bad we were doing.
1 person likes this
ARIES1973
@ARIES1973 (11426)
• Legaspi, Philippines
1 May 13
Hi ricki! Sad to hear about that. Ours is not a mandatory thing. Besides it's just an investment and it's up to us if we will patronize the product (loan) or not. But personally, it is doing me some benefits. Thank you for sharing!
Raine38
@Raine38 (12257)
• United States
26 Apr 13
I used to be a member of a cooperative but unfortunately, I have to resign and pull out my membership because I have to move so I didn't get to fully enjoy the benefits. But my mother is a member and has been for quite some time now. She likes the fact that she can loan some money with very little interest and still be able to have some savings fund. She also like it whenever dividends are due and whenever the members get to have some freebies every quarter or so. There was this one quarter that each member were gifted with a whole sack of rice. And in a rice-eating country, that is such a treat!
1 person likes this
ARIES1973
@ARIES1973 (11426)
• Legaspi, Philippines
26 Apr 13
Yes, cooperative really a big help for employees. we can borrow money at a low interest and at the same time, we can earn from dividends and patronage refund. Aside from that there are also other services being offered such as credit card and we can also invest some amount aside from the paid up. Thank you for sharing!
Jane
@jaiho2009 (39142)
• Philippines
26 Apr 13
I am not a member of any cooperative but I have a friend who is a member of a certain cooperative. I can say that there's a lot of benefit of being a member of this organization, especially if the president really knows how to handle the group. My father holds a good share with ANSCOR (Andres Soriano Corporation) and I was able to attend their annual meeting with the Board of Directors. It is always an exciting event, exciting and half tensed as well. (as we know how stock market works this days)
1 person likes this
ARIES1973
@ARIES1973 (11426)
• Legaspi, Philippines
26 Apr 13
Yes, there are really good benefits available for the members. Actually, the success of the cooperative depends on the management and the cooperation of each members. Ours is one of the most successful cooperative in our place. We are second in terms of assets in the whole region. Thank you for sharing!
jearl02
@jearl02 (211)
• Philippines
26 Apr 13
Hi aries..glad to know that you are a member of a cooperative (credit union). I am a member and an employee of a cooperative. This is indeed a wonderful venture because you receive something when you patronize its services. It also offers higher interest rates in your savings deposit as compared to commercial banks plus the interest you earn is tax free. Hope you'll continue to be a good member of your coop.
1 person likes this
ARIES1973
@ARIES1973 (11426)
• Legaspi, Philippines
26 Apr 13
Yes jearl. I am so lucky to be able to get the job in this agency. Aside from having a good work, I was also given a chance to be a member of their cooperative which as far as I know one of the highest in terms of assets in our place. Thanks to those who initiated this kind of group. It's been 15 years that our cooperative is gaining success. Some of the initiator are already retire from the service but what they started is still ongoing and getting more and more successful through the passing of time. Thank you for sharing!
dagami
@dagami (1158)
• Rome, Italy
26 Apr 13
during my elementary years, the school created a coop among its students and teachers. it sold everything from pens, paper, clips, and snacks. all the students patronised this and at the end of every school year we had the dividends. it was really exciting for us students to get a "large" amount of money from our shares. i wish all public schools would adopt this. unfortunately, private schools have stores and snack bars inside their campuses but they are privately owned.
1 person likes this
ARIES1973
@ARIES1973 (11426)
• Legaspi, Philippines
26 Apr 13
Oh yes, my mother also have this kind of cooperative in their school. Actually, with proper management, this kind of venture can really be successful and helpful to the members. Ours is a credit cooperative. They said that when it started, it was also a multipurpose cooperative but then they find it hard to manage so they concentrated on lending. It is easier because they signed up a MOA with the office to automatically deduct the monthly payment so it is easier. By the way, before I was appointed in the service, I started with the cooperative as a staff so I know most likely how it was being handled. I am so thankful as it became my stepping stone to where I am now. Thank you for sharing!
Deepak
@Deepak2J (1178)
• India
26 Apr 13
I am not a member anywhere. But I might consider after some time.
1 person likes this
ARIES1973
@ARIES1973 (11426)
• Legaspi, Philippines
26 Apr 13
Hi Deepak! Yes you should consider joining one. Thank you for sharing!