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We developed and scrutinize policies to all our services and products in order to meets the need of all our members in way suited to their own options and capabilities.
Policy on Membership
How to become a member
1. Attend the Pre-Mebership Seminar (PMES)
2. Fill-up an application form for Membership
3. Upon approvl by the Board of Directors, pay the membership fee of P150 and minimum share capital of P300
Duties of a member:
1. Pay the annual dues of P100 per year
2. Continous capital build-up of not less than 2 shares o 200 per month
3. Attend meetings and participate in the affairs and activities organized by the cooperative
4. Obey the rules and regulation of cooperative
5. To vote for the right officers
6. To serve when voted
7. To promote and support coop products and services
Rights as a member-owner
1. To received dividends
2. To vote for the officers
3. To be voted upon
4. To ammend the By-laws
5. To set the direction of the cooperative
6. To received financial reports
Privilleges as a member
1. To receive quality products
2. To borrow money at fair interest rate (if qualified to borrow)
3. To received patronage refund
Obligation as a member
1. To partonize and suggest improvement of the product and services
2. To settle oblicagation on time
Policy on Loan
1. Upon approval of membership, a member is required to pay the initial share capital of Php 300 equivalent to three (3) shares. (Note: minimum of Php 1,000 or ten shares of capital is requored for a member to avail of the credit services of the cooperative)
2. It is obligation of every member to help raise the cooperative's authorised capitalization by increasing one share through the folloring capital build up schemes:
A. Php 200 or two (2) share per month
B. Five percent (5%) retentions on all regular loans which is automatically credited to ones share capital.
Policy on Savings Deposit
1. A minimum deposit of Php 1000.00 shall be maintained in the savings account in order to earn an interest
2. Schedule of interest dates (per annum)
Php 1,000 to Php 25,000 = 3% p.a.
Php 25,001 to Php 50,000 = 4% p.a.
Php 50,001 to Php 100,000 = 5% p.a.
Php 100,001 and above = 6% p.a.
3. A Service Fee of Php 20.00 shall be charged for dormant accounts and accounts below the required maintaining balance.
Policy on Time Deposit
1. A minimum time deposit is Php 10,000.00
2. Schedule of Interest Rates:
3. Pre-Termination Policy
A. No interest is earned in case of unavoidable pre-termination one month from the time the deposit is placed.
B. Time deposits placed over three months but in pre-determined three months or 180 days from the time it is places, such deposit is treated as a savings deposit and consequently earns interest based on the existing savings deposit interest rates.