Savings and Loans Cooperative is a business entity that is characteristic of Indonesia and is considered to be the most beneficial for the people, cooperatives. Cooperative work system that prioritizes family, consensus by consensus, with the highest leadership in the hands of members to make each member of the cooperative feel. There are many types of cooperatives, one type of cooperative that facilitates savings and loan cooperatives.
Yes, actually, there are many types of cooperatives that are formed according to needs. However, a savings and loan type cooperative is one of the cooperatives that is now much sought after because many people need capital to start a business or need to borrow money for other purposes. Today, this type of savings and loan cooperative can be easily found. Not only in rural areas, these savings and loan cooperatives are still popular in big cities.
Basic savings and loan type cooperative
The establishment of this type of cooperative has been regulated in law. This type of cooperative must have an open and voluntary money management. The management system is carried out in a democratic and independent manner. As with cooperative principles in general, the highest authority is not available to the leadership of the board, but at the meeting of members. Later, each member will get a SHU or the remaining proceeds from the cooperative’s profits each year. Distribution must have a fair concept in accordance with the decisions that have been taken together.
There are a number of capitals which are the driving force of cooperatives, including the principal savings members that are only paid once by the members. The second capital is mandatory savings that are paid regularly by members every month. The third capital comes from voluntary savings which are paid in nominal terms as well as savings. The fourth capital is a reserve fund which is the remaining SHU money that is not shared. Other funding sources can be obtained from loans and grants.
How to borrow money from a cooperative
Before we borrow money from a cooperative, it is very important to know how to borrow at the cooperative. To be able to borrow money from a cooperative, there are several conditions for borrowing money in a cooperative that you must fulfill. The main requirement is to become a member of a cooperative. To be able to become a member, of course we must first register with a cooperative engaged in the savings and loan sector first.
The way to become a member of a cooperative is usually quite easy, which is having the willingness to pay mandatory and principal savings, being an Indonesian citizen, registering as an individual and not a business entity, and obeying the cooperative cooperative law of choice. Loan procedures are usually adjusted to cooperative regulations. The cooperative will usually also conduct a survey to find out whether the person is eligible to get a loan in accordance with what was proposed. Cooperative interest is generally lower than bank interest, so many people are interested in borrowing from cooperatives. There are also cooperatives that provide loan services with flat interest and the choice of interest decreases, making it more profitable.
If you want to borrow from a cooperative, you must follow the rules of the savings and loan cooperative above. If you cannot follow these rules, you will not be able to borrow money from a cooperative. For those of you who feel the above requirements are quite complicated, there are also other loan alternatives that you can use. One of them is the online money loan system with Becka Itachu. Becka Itachu provides convenience for anyone who needs fresh funds for both consumptive and business capital purposes.