2023-08-23 19:25:38
The consortium system ended the first half of 2023 with 1.99 million sales of new quotas, a historic record in over 60 years of the modality. In one year, there was growth of 7.6%. The data is from Brazilian Association of Consortium Administrators (ABAC) which also reported that there were 9.67 million active consortium members in June, up 10.4% over 8.76 million, referring to the same month last year.
Consórcio Nacional Bancorbrás follows the positive moment of the sector, with an increase of 103% in the first half of 2023, compared to the same period of 2022. In the company, the segment that grew the most in this period was the movable property, with an increase of 158%, compared to 2022.
“The numbers point to the growing planning behavior practiced by consumers and show the consolidation of the modality as a financial option for Brazilians”, says José Climério Silva Souza, Executive Director of Bancorbrás Consórcios.
The director recalls that as it is a safe financial modality, without payment of interest and with installments that fit the budget, the consortium is a way to invest in a good or service without running out of capital. “Those who are not in the habit of saving to invest find the best option in the consortium, as it is not necessary to commit to the down payment or the payment of interest, as with financing”, he says.
José Climério argues that the main advantage for those who opt for the consortium is not paying interest. “It allows customers to make an investment suited to their reality. Interested parties can choose between different letter of credit values, according to their purchasing power. With installments that fit in your pocket. It is a form of financial planning and a possibility to invest in a good or service and make dreams come true, without jeopardizing the budget”, he explains.
How it works?
The consortium is a type of credit for the acquisition of goods and services. The big differential for other types of financing is that the consortium is organized by a group, in which all members contribute with a defined amount, every month, during a certain period, creating a joint savings. Each month, the consortium members have the possibility of contemplation by draw and, also, to offer bids, being able to embed part of the offered value using the letter of credit. The draw defines only the order of participants to be awarded, because at the end of the stipulated time everyone will be contemplated.
The installment in the consortium consists of the common fund (amount paid by the consortium member to form the savings that will be used for the purchase of the good), the administration fee and a reserve fund, in addition to insurance, if contracted. The readjustment of the vehicle consortium occurs annually, according to the variation of the price index established in the contract, in order to preserve the purchasing power of the consortium members contemplated.
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