Coop social loan – How does it work? The advantages and to whom it is addressed
The Coop Social Loan is a very convenient service especially in these difficult times from the economic point of view.
As it provides zero opening and closing costs, zero transaction fees and above all zero account maintenance fees. For these reasons it can be interesting to understand specifically which are the advantages and how the Coop social loan works .
Coop social loans are reserved exclusively members and it is a great privilege, as these people will see a very competitive and free interest rate recognized and, above all, they will be able to count on a complete and professional assistance service. Thanks to the social loan, moreover, the cooperative can have sums to invest in the development and modernization of the sales network.
This is a very convenient and protected tool, which allows you to quickly have free payments and withdrawals available at competitive interest rates. Not only that, the members will also be guaranteed to best protect their savings.
The coop social loan is a tool available to cooperatives to collect resources that are useful to their development in a completely transparent and convenient way for members who, in this way, will be able to see a return on capital at the end of the year, in addition to accessing a series of useful services.
As a further guarantee for the members who choose the coop social loan, the cooperatives invest the money in reliable and liquidable financial instruments. For all these reasons, this type of loan is both affordable and protected and, above all, offers advantages both to the cooperative, which will find active support for growth, and to the members, who will be able to count on a series of dedicated advantages.
On all the sums lent, in fact, with the social coop loan an interest rate is recognized that allows the shareholders to preserve their purchasing power over time . Furthermore, members will always have the guarantee that the money raised through the social loan will be invested exclusively in low-risk financial products.
Furthermore, as of 1 January 2017, new rules have come into force that oblige members to book the withdrawal from the social loan booklet at least 24 hours in advance . Finally, all lending members will be able to use the membership card in affiliated shops to pay for the expense, charging it directly to the social loan book.