My Ayala Coop Experience – Part II

I signed up with Ayala Coop August of 2012 by filling out the membership form through our site HR. After a few days, my application was approved and I was deducted from my salary for my first contribution as an Ayala Coop member on August 31, 2012. By the way, I chose to commit P500 contribution for my share capital via automatic salary deduction which with my previous company was every other Friday.

My P500 per pay day contribution continued until March 15, 2013. I went on leave (without pay) since then because I was ordered to bed rest due to having a ‘high risk’ pregnancy. My total contribution by then was P7,000 less P100 for the membership fee. So what I had on my online account was P6,900.

On April 2013, I received a mail from Ayala Coop informing me that my dividend for 2012 will be credited to my BPI payroll account by the end of the month.

I was excited! Guess how much I got?

Php31.94

Since I only started my membership in August 2012, my total contribution for 2012 was only P4,400. And P31.94 was roughly 0.73% profit. Not bad! Had I put my P4,400 in the bank, I doubt if I ever earn the same interest even if I didn’t touch it the entire year.

In September 2013, I emailed Ayala Coop and asked them if I could continue my contribution through direct deposit instead of the usual automatic salary deduction since I was on prolonged leave from the company. They approved it and so I enrolled Ayala Coop as merchant in my BPI Express Online Account. I paid P3,100 to add to my share capital that time which was P6,900. Therefore I had a total of P10,000 paid-up capital by December 2013.

In March 2014, I decided to terminate my Ayala Coop membership because I planned to resign from my company come May of the same year. So I sent a request of membership termination directly to Ayala Coop via email on March 16. I was told that the termination process would take about two weeks or half a month before my share capital gets credited to my BPI account. After a month and a half of consistently following up with them, it finally showed up on my account on May 2.

I received my total share capital of P10,000. No more, no less. 

I thought that was it. My membership with the coop was over. But on May 30, I was surprised that I received P477.58 on my BPI account. I already resigned from the company effective May 17 so I didn’t expect any amount to come in to my payroll account. Plus, I received an email previously from one of their finance managers that said,

“Please note that members without regular salary deduction for share capital build up will not be entitled to dividend.”

So I really didn’t expect to receive a dividend for 2013 because I had irregular contributions. Surprisingly, when I logged in to Ayala Coop’s website, it proved to me that I really got a dividend of almost 5% from my total share capital.

I guess you know what I’m thinking now. I wished I didn’t terminate my membership with Ayala Coop because they truly provide a promising potential return of investment through dividend distribution. Not to mention their tagline, which to me, is what a cooperative really is all about.

“Ayala Coop,

Ang Ayalang nagkakaisa, sa kaunlaran sama-sama”,

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

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

Image Source:www.ayalacoop.com,Pixabay.com,http://www.captaindividend.com/2013/10/recent-dividend-increases.html

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.