The bounds of membership which originally was confined within Tubao, has been extended to accommodate all the towns of Luzon. An answer to the clamor of other disadvantaged people for a respite from their humble economic conditions. Membership keeps on increasing and as of December 2019, it ranks 2nd in terms of membership (29,856 regular members, 295- associates and 1,257- kiddie saver’s) a total of 31,408.
A. Approved Application for membership
B. Required Fees/Deposits
Application Fee- P100.00
Entrance Fee – P 100.00
Insurance Card – P100.00
ID – P50.00
Minimum Fixed deposit/share capital- P4,000.00
Minimum Savings Deposit – P 1,000.00.
C. Other requirements besides those previously mentioned in A & B:
Attend and finish the PMES to the end; and NO PROXY
3 recent photos (2”x2”)
Photocopy of ID (SSS ID, Driver’s License, PRC, Passport, Company ID, Postal ID, Pantawid ID,
Residence certificate (Cedula)
Present a BIRTH CERTIFICATE. In the absence of a birth certificate,
BAPTISMAL CERTIFICATE or MARRIAGE CONTRACT, BUT NOT AN AFFIDAVIT OR CERTIFICATION issued by the Municipal Government that records are not available in the archives of the municipality.
Participate and vote on all matters deliberated upon during general assembly meetings
Patronize the services and products of the Cooperative, subject to certain conditions as may be prescribed by the Board of Directors.
Make regular savings
Promptly pay loans as they fall due. In case of default in payment, a fine/penalty of 2 % per month shall be imposed on the unpaid balance.
Attend and participate in cooperative seminars, general assembly meetings and other cooperative activities.
Attend and vote in general elections: no proxy
Visit the cooperative every quarter, every six months as the case may be
Check on the status of one’s savings deposits where Saranay contributions are being deducted; there shall be NO NOTICE to be sent in case of zero balance on Saranay deposit, replenishment is required.
Bring along passbook every visit to the cooperative whether to deposit or withdraw, to loan or make loan payments.
Report to the Board or Management any plan or intention of a member to destroy the cooperative.
Grounds for temporary suspension – like the suspension of right to vote & to receive per diem during the General Assembly meeting:
When one has become delinquent in his loan payments for a certain period of time.
Suspension of rights/privileges like the suspension of the right to vote and to receive per diem during the general assembly meetings
Death – Considered an automatic termination of membership. The deposits of a deceased member may be held and controlled by his legal representative less obligations and charges like being a co-maker (whose deposit has been pledged to a borrower’s loan…benefits can only be fully withdrawn until such time the borrow
Voluntary withdrawal – is of two (2) types according to the cause or merits of withdrawal:
If cause is meritorious or reasonable or of a good cause, the withdrawn member may be re-admitted should he wish to return after some time.
Re-admission is only ONCE.
