Cebuana Lhuillier: Enabling Access to Financial Solutions

4:52 AM

To this day I clearly remember the significance of the ring on my father's finger. When he was wearing it, that meant we were doing okay financially. And when not, that meant we were going through some rough times. In time, I learned that he would pawn the ring to tide us over through the tough times and that made me wonder.

He treasured that ring very much so I asked him how he could bear the possibility of losing it if he will be unable to redeem it at the appointed time. He said that what is important is that he was able to get the solution when he needed it. It took having a family and some financially challenging times of my own to fully understood just what he meant. 

History of the Pawnshop Industry

The earliest pawnshops were said to have been established more than 3,000 years ago in Ancient China. In fact, it is considered the oldest form of credit which allowed a person to borrow money by leaving a specific item as security. It was used by both the wealthy and the underprivileged albeit in different proportions and circumstances but always for the same reason which is to get hold of cash when needed.

Pawnshops did not exactly enjoy a good reputation then. The industry was unregulated which allowed interest rates to skyrocket. Today, some pawnshops exist like extensions of the formal banking system, offering services that are not merely limited to pawning, thereby giving a new face to the pawning industry. The perfect example is Cebuana Lhuillier. 

Cebuana Lhuillier

A young Frenchman named Henry Leon Lhuillier established the first Agencia Cebuana in Cebu in 1953. It adopted its present name in 1987 and continued to grow in number in its number of branches and services offered. A peek into the company timeline should give us an idea of how determined Cebuana Lhuillier is, in establishing itself as a reputable financial services entity.

The company opened Cebuana Lhuillier Services Corporation in 1996 to offer money remittance and auxiliary financial services. Cebuana Lhuillier Rural Bank, its banking arm, was established in 1998. The following year saw the establishment of the Cebuana Lhuillier Insurance Solutions as the insurance arm. It did not take long for the Bills Payment Service to follow. A number of innovations in the pawning service were likewise introduced.

One-Stop Website

In its desire to respond to the changing times, Cebuana Lhuillier decided to consolidate all the company information in one website. The one-stop website offers 24/7 access to everything Cebuana Lhuillier. This includes access to information about remittance, insurance, and of course, pawnshop needs.

The website boasts of several special features that is guaranteed to provide visitors a positive experience. Its Knowledge-Based format allows visitors to look for their desired articles with ease. The Branch Locator not only provides the location of Cebuana Lhuillier branches but also indicates the nearest one. Customers can get an idea of how much they can get from their intended pawn items even before they visit a branch through the Appraisal Calculator

The new website has likewise been Mobile Optimized. To assist customers faster, the Shortcut Menu containing its main sections appear, resulting to getting the information in a shorter amount if time. The Cebuana Lhuillier App Center provides the links to its online applications including:

Cebuana Lhuillier App
Cebuana Maze

Upcoming features include Live Chat, Online Transactions, and Loans Section.

My Say

Judging from how Cebuana Lhuillier conducts its business at present, it is clear that it has come a long away from offering just pawning services. This is in keeping with its thrust to become one of the country's strongest financial services companies. With the launching of its new site expected to widen its reach in the market, this is certainly not a far-fetched idea.

That said, we all want solutions when we encounter challenges. Like my father who chose to use the solution offered rather than be a burden to his friends and relatives by borrowing money, it makes sense to consider how the financial services being offered can be of use to us in our quest for a better life for ourselves and our family. Pawning is not an act of desperation specifically when not done to support a vice. It is a dignified means to get financial solutions while we work on our goals. No one wants to go through rough one, but if we do, then now we know we have this option. 

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  1. A good company indeed. I use it to sent remitance via moneygram and the service is excellent. I just wonder if the company also owns MLhuiller pawshop?


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