Programs and Services

LENDING FACILITIES

GENERAL PROVISION

All products are open to all qualified regular members.
The mode of payment can be weekly or monthly.
Requires a share capital contribution equivalent to at least 10% of the loan applied for.
Multiple or overlapping loans are not permitted, except for Emergency Loans.
A penalty of 2.5% per month shall be charged on overdue or matured loans.
Loans exceeding the borrower’s paid-up capital and deposits must be secured with co-maker(s) or acceptable collateral.

LOAN PRODUCTS:

A. REGULAR LOAN

For productive or providential purposes
Maximum loanable amount: ₱100,000

B. VERY IMPORTANT NEED LOAN (VIN)

For addressing a major plan beneficial to the member and family
Secured by collateral equivalent to at least 75% of its market value
Requires a co-maker who is a family member
Maximum loanable amount: ₱1,000,000

C. EMERGENCY LOAN

For addressing unexpected needs such as medical expenses, school requirements, hospitalization, or other urgent situations
Maximum loan duration: three (3) months

D. MEMBERSHIP CAPITAL LOAN (MCL)

For assisting interested and qualified residents in generating their required share capital contribution to the Cooperative
Payable within six (6) months with an interest rate of 2.5% per month
Loanable amount increases gradually, from ₱5,000 up to ₱50,000
Requires the borrower to become a regular member after availing the second loan at the maximum amount (₱50,000), thereby gaining full membership rights and responsibilities

BANKING SERVICES

A. Personal Savings Program (PSP)

Open to all regular members
Earns 3% annual interest, compounded quarterly
Requires a maintaining balance of ₱100.00 to earn interest

B. Kiddie Savers Program (KSP)

Open to associate members and young depositors
Earns 3% annual interest, compounded quarterly
Requires a maintaining balance of ₱100.00 to earn interest

C. Special Incentive Program (SIP)

Savings are derived from a percentage of members’ ICPR, intended as a retirement fund for members who have completed at least ten (10) years of membership and reached the age of 65.
Earns 4% annual interest.
If a member withdraws earlier, the accumulated savings shall be transferred to the buyer of the withdrawing member’s share capital.

SOCIAL RESPONSIBILITY PROGRAMS

A. Binnadang Aid Program (BAP)

Provides financial assistance to members in times of bereavement
Open to regular members who have paid the membership fee of ₱500.00
Requires regular replenishment of used funds
Amount of aid is computed as: (Length of Membership + Share Capital ÷ 2) × Number of BAP Members
Provides additional rider assistance in case of death of an immediate family member (mother, spouse, or children) of a cooperative member

B. Health Assistance Program

Open to all regular and associate members
Requires enrollment in the Red Cross Accident Insurance Program
Valid for one (1) year and renewable annually
Premium payment is shared: 50% from the Cooperative and 50% from the member, depending on the chosen coverage
Benefits are based on the amount of premium paid

POLICY ON CBU PROMOTION SCHEME FOR 2025

Capital Build-Up (CBU) Program

In cooperatives, the Capital Build-Up (CBU) Program is a strategy designed to encourage members to invest in the cooperative’s share capital, thereby fostering continuous growth and financial stability. This program generally involves mechanisms such as retaining a percentage from loan payments, annual dividends, or patronage refunds. CBU is a vital component of cooperative development as it strengthens member ownership and enhances financial resources.

Purpose and Importance

Financial Stability
CBU ensures that the cooperative has sufficient funds to operate, invest in projects, and provide services to its members.
Member Involvement
CBU schemes encourage members to take an active role in sustaining the cooperative’s financial health by investing in its share capital.
Long-term Growth
By consistently adding to share capital, the cooperative can expand its operations and services, which benefits both the organization and its members.

CBU Promotion Mechanism

The CBU Promotion started on April 13, 2025, and will conclude during the Cooperative General Assembly in 2026.
Incentives for qualified members include raffle tickets for the Raffle Draw during the 2026 General Assembly and grocery packages to be distributed on the Cooperative Anniversary, December 17, 2025.
Points for the CBU Promotion Scheme shall be earned from share capital, including loans, savings deposits, and time deposits.

For SHARE CAPITAL

a) Every new regular member is entitled to one (1) raffle ticket.
b) For every completed PhP 1,200.00 CBU (as per policy), the member earns one (1) raffle ticket.
c) After reaching the PhP 1,200.00 CBU threshold, the following shall be computed as part of the CBU Promotion Scheme:

Every loan retention of PhP 500.00 entitles the member to one (1) raffle ticket.
Every additional PhP 500.00 deposited into share capital also entitles the member to one (1) raffle ticket.

d) In addition to raffle tickets, grocery packages shall be awarded as shown in the table below:

For SAVINGS DEPOSITS

a) To qualify for the CBU Promotion Incentives, savings deposits must be locked in for 12 months. The interest rate for savings is 3% per annum.

b) A savings deposit of PhP 1,000.00 entitles the member to one (1) raffle ticket. Raffle tickets and grocery incentives increase as savings deposits increase.

c) Since locking in is required to qualify for the CBU Promotion Incentives, members shall have the option to include or exclude their savings deposits in the CBU Promotion Scheme.

For TIME DEPOSITS

To qualify for the CBU Promotion Incentives, time deposits must be locked in for at least 12 months. Interest rates are as follows:

Deposits below PhP 100,000: 4% per annum
Deposits amounting to PhP 1,000,000: 5% per annum

Additional Guidelines

A tambiolo (raffle drum) shall be placed in the cooperative office so that members may drop their raffle tickets at any time.
Raffle tickets shall be issued immediately upon deposit. Members may choose to drop their tickets into the tambiolo immediately or later. However, if a ticket is lost due to the member’s negligence, the cooperative shall not issue a replacement.

Page updated

Report abuse