Tagum Cooperative kick-starts the year with the launching of two savings products that will allow the members to prepare for unexpected expenses and insurance renewals. The two products, namely Emergency Ready Savings (ERS) and Sure Protect Savings (SureTec) are both created to alleviate the burden of paying one-time payments during dire times and help them save up when their insurances are up for renewal. Moreover, it desires to assist its members in resolving their financial dilemmas.
“Our Emergency Ready Savings Product will serve as a go-to for our members in case an emergency expense will come their way. Our SureTec Savings, will also allow them to save up especially for the renewal of their insurances,” states Chief Executive Officer Juris D. Perez.
Sure Protect Savings (SureTec)
TC created SureTec for members to prepare for their insurance renewals and for those who wish to be insured but find it difficult to include in their budgets for a one-time payment. SureTec Savings ensures continuous insurance coverage through a compulsory opening when they apply for a loan. This offers the renewal of insurance in an affordable installment scheme. Payment can be arranged through Tagum Coop’s another service, the Automatic Debit Arrangement (ADA) which gives way for a hassle-free payment. This will encourage members to pay annual premium on or before due date.
The SureTec Savings can be availed by all Regular or Associate members, where account will be automatically created upon release of loans with mandatory insurance coverage. Fifty pesos (P50.00) plus one (1) month insurance premium will be deducted from the loan proceeds which shall serve as the opening amount of the SureTec Savings account.
Voluntary opening of SureTec Savings is also underway and will be made available for all members in the near future.
Emergency Ready Savings (ERS)
Tagum Cooperative designed ERS for the purpose of helping the members pay for unexpected expenses and other critical situations that might take up a huge chunk in their finances
Just like SureTec, ERS is open to all Regular or Associate members of Tagum Cooperative with minimum amount requirement of Php200.This type of savings is withdrawable anytime provided that the purpose for which the account was established is justified.
TC Chairperson Rosalina S. Argent expresses that TC aims to inculcate discipline and help members develop the habit of saving. “During this time of the Pandemic, most people will realize the importance of having an Emergency Savings and Tagum Cooperative is here to help them achieve that level of preparedness” Chairperson Argent adds.
Members may visit the nearest Tagum Cooperative Business Center to know more about the newly launched Savings Products or they may send their queries to Tagum Cooperative’s Official Facebook Page. Be prepared and protected, open your own accounts now!