But what was really the purpose of my membership and why did I terminate it in the end?
When Ayala Coop was introduced in our company, I never really planned to sign up with them. First of all because I don’t like loans. Not that I hate loans or that I never had a loan or have borrowed money from someone else, but I am not just comfortable with it.
I know a few of my colleagues who availed of Ayala Coop’s loan products to buy high-end cellphones or other gadgets while some of them used the money to renovate their house, to pay for their kids’ tuition and even to fund for their travel and getaways.
I have nothing against them. It was their money and they have all the rights to use it for whatever purpose they want. But obviously, more members take advantage of the loan products and services rather than the investment side of it.
I can’t speak much about the coop’s patronage refund and rebates because I didn’t avail of any loan. But based on their reports, their interest rates seem lower compared to other lending companies and banks.
After reading their brochure repeatedly, I finally decided to sign up. My main purpose was to save a portion of my salary by investing it in the Coop. And by investing, I was hoping to earn higher returns than what the normal bank savings account offers. So I never really thought of availing their loan products even if it was very easy to apply and get approved.
That was my purpose. But after giving it some thoughts, I realized that my money would be better off in another investment vehicle. That time I was already thinking of investing in the stock market. Who would be satisfied in the first place if you know that your P10,000 investment only earned a one-time 30 pesos in almost 2 years. Little did I know that a bigger cash dividend was on its way to my account. Only then I realized that Ayala Coop was worth a portion of my investment portfolio had I not terminated it.
Too late… Now I’m thinking if I could still reactivate my membership knowing that I’m no longer employed with the Ayala Group of Companies.
I guess it’s an opportune time for me to reassess my investment objectives and continue learning how the different investment tools work so that I could choose those that match my current financial status, risk appetite, and investment goals.
How about you? Have you been a member of Ayala Coop or any other cooperatives? How was your experience with them? Share it with us by leaving a comment below.
Click here to read – My Ayala Coop Experience- Part I
Click here to read – My Ayala Coop Experience- Part II
Image Source: www.ayalacoop.com
Disclaimer: This post is for informational purposes only. I’m not an employee of Ayala Coop and I don’t endorse any of their products or services. If you’re interested to know more about this company, you may contact them directly or visit their website for more details.