Through the assistance of a Philippine bank, this co-op is able to provide lending services that genuinely help local businesses and families in their community. [GMABrandTalk] [LBP_Official]
With LANDBANK as a partner, the Providers Multi-Purpose Cooperative has grown from a small-town community lender with 24 members and a capital of only P12,000 to one of the largest co-ops in the Province of Isabela, now with over 26,000 members, P1.8 billion in capital and P5.0 billion in assets.– Small businesses and salaried employees in Brgy. Magsaysay previously struggled with hefty loan interest rates imposed by informal lenders, which reached as high as 30% per annum.
Her dream came to life in 2008 when she founded the Providers Savings and Credit Cooperative along with 23 of her co-workers, who each shelled out P500.00 as contribution to their initial fund. With a total of P12,000 as capital, the co-op started offering loans with a much lower interest rate at 1.6% per month.
LANDBANK remains a faithful partner of Providers MPC, helping it grow from a small-town community lender to one of the biggest co-ops in Isabela with 26,000 members and 8 branches. More importantly, aside from assisting enterprises, the co-op is also able to help over 2,000 farmer-members through agricultural lending and mechanized farming services.
As an ABP, Providers MPC offers basic banking services on behalf of the Bank, such as card sale, cash-in, cash-out, fund transfer, and bills payment.
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