My Ayala Coop Experience – Part I

Ayala Coop or Ayala Multi-Purpose Cooperative (AMPC) is a cooperative owned by regular employees of the Ayala Group of companies and its subsidiaries. It was founded on May 15, 1995 by 21 Ayala Group employees with an initial capitalization of P10,500.

If you’re curious on how and where I got all these information from, I actually still have the brochure that they provided to us back in 2012. During that time, Ayala Coop had more than 19,000 members across Ayala Group with a capitalization of Php 800 million. In the Chairman’s Report on their website, the year 2013 ended with 26,210 members while member’s equity rose to Php 1.3 billion. The Coop is looking forward to a more productive year this 2014.

So how did I know about Ayala Coop?

My previous employer was part of the Ayala Group of companies. When our HR Staff announced via email that there’s such thing as Ayala Coop, in which employees can apply for a loan, it became “trending” among the employees almost instantly. I don’t know what’s with the word “loan” that seems to have a magnet that attracts people easily.

Coop members are not only given the opportunity to avail of the loan products and services and receive patronage refund on their interest payments but are also entitled to earn dividends on their paid-up capital.

Now, what am I talking about?

The main source of funds of the Coop comes from members’ share capital contributions. In short, paid-up capital is the amount of share capital paid by you as a member or shareholder. If it’s still confusing, think of it as your total contribution (how much have you contributed/shared to the Coop?)

Dividend is a payment made by the Coop to its members or shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, it can either re-invest it in the business or it can distribute it to shareholders, or it can do both. With Ayala Coop, cash dividend is released through direct deposit to the BPI account of members.

Patronage refund, on the other hand, is a rebate on interest you paid on your loans. Now, what is rebate? It is a deduction from an amount to be paid. In this case, rebate is a deduction from the interest of your loan.

For more information about Ayala Coop, you may visit their website here.

Whew! That was kind of a long introduction. And I’m sure some of you are still confused with the terms. Don’t worry, I understand. Read on and hopefully you’ll find it easier to understand once I share my own experience with Ayala Coop (with the actual numbers).

Click here to read – My Ayala Coop Experience- Part II

Click here to read – My Ayala Coop Experience- Part III

Source Credits: www.ayalacoop.com, pixabay.com, wikipedia.com, investopedia.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.

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