The other day someone came to our house for CI process, it was from a cooperative. My mother loaned an amount so we could pay some bills, it wasn’t a great idea but that’s the only way to get emergency money. The CI person happened to be my father’s batch mate in school and he asked how many children my parents has, then he mistaken me as the youngest daughter and was surprised when my mother told him I am already married so he blurted out why I married early and married first before my sister so I told him I am almost thirty and I am the eldest daughter which I think shocked him that he has to asked my age twice to confirm if I am not joking about my age. LOL
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Anyway, my mother was an old member of the cooperative but it was been almost two years since the last time she loaned from them after I told her to stop borrowing and my father lost his job subsequently but just recently she applied for a new loan but the cooperative subtracted the debt that my mother made from their grocery store a few years back as well as the gallons that were used in retailing water so she only received half of the money she loaned.
The loan is payable in six months but you have to pay installments weekly. If you are an old member a CI process is still needed if it was been a long time since your last loan from the cooperative, they have to investigate if the member is able to pay the loan within allotted time. Their policy changes, since the cooperative is now asking for a collateral items maybe many of the members were not able to pay their loan on time.