Last Saturday, I joined the membership seminar of the PHCCI or Perpetual Help Credit Cooperative (PHCCI). On their website, information about the coop are: "PHCCI was established in 1967 by the Mother of Perpetual Help Parish and was administered by the Redemptorist Fathers. Very successful and going strong everyday, the PHCCI is run by highly-professional and dynamic group of people who are driven by strong desire to help the country’s economy, improve the lives of the common people and empower the ordinary folks to become financially independent".
Assets of the PHCCI improved over the years as follows:
1969 - 1,201.94
1979 - 1,193,558.81
1989 - 9,183,861.88
1999 - 128,216,630.71
2006 - 310,000,000.00 +
A good track record indeed. I joined this cooperative because I want to avail their loan oppurtunities provided to members.
A member is required to make a fixed deposit, and the fixed deposit as a basis, a member can avail a loan 200% or 300% of the fixed deposit.
The cooperative also provides various benefits such interest on fixed deposit, patronage refund, free medical and dental services, burial benefits among others. Also the interest on loan is low and interest on deposits are high compared to banks.
Let us see what happens, makakautang ba? This is my first time to avail outside financing for my various endeavors, hehehe. Lets us see.