LOANING
Cash advances
1. A member must subscribe at least a minimum of five shares equivalent to five hundred pesos as capital share (Note a member is considered regular member, 3 months after he/she has fully paid the minimum capital share before he/she is allowed to cash advance).
2. A member can advance a minimum amount of 1,000.00 to a maximum of 5,000.00 (Cash advances are only for coconut harvesting purposes).
3. A cash advance within 15 days has no interest but a 1% service fee is charge.
4. More than 15 days cash advances will be charged of a 5% deduction compounded daily.
1% - service fee
2% - interest
2% - capital build-up
1. A member must subscribe at least a minimum of five shares equivalent to five hundred pesos as capital share (Note a member is considered regular member, 3 months after he/she has fully paid the minimum capital share before he/she is allowed to cash advance).
2. A member can advance a minimum amount of 1,000.00 to a maximum of 5,000.00 (Cash advances are only for coconut harvesting purposes).
3. A cash advance within 15 days has no interest but a 1% service fee is charge.
4. More than 15 days cash advances will be charged of a 5% deduction compounded daily.
1% - service fee
2% - interest
2% - capital build-up
Provident loan
1. A member can avail a provident loan of 100% of his capital share, with retention of 10% for the period of two months.
1% - service fee
2% - interest
2% - savings
5% - capital build-up
2. A provident loan not paid within the period of two months is charge of a penalty of 5%.
3. In case of delinquent of a provident loan on the due date, the loan can be restructured by paying a penalty of 5% and another 10% retention for the next two months schedule.
1% - service fee
2% - interest
2% - savings
2% - capital build-up
Regular loan
1% - filing fee
2% - interest
2% - Savings
2% - capital build-up
Computation of interest will be 2% and service fee 1% monthly on the next following month from the date of loan. 7. In case of default in payment of lona on the due date, the loan can be rescheduled/restructured by paying a penalty of 5% and a full payment of the total retention equivalent to 8%.
1% - service fee
1% - filing fee
2% - interest
2% - Savings
2% - capital build-up
Delinquent loan – if a member ignores collection or communication (demand letters) from the cooperative, the deposits (savings and share capital) of the member maybe used to cover the loan amount, including the interest and surcharges.
1. A member can avail a provident loan of 100% of his capital share, with retention of 10% for the period of two months.
1% - service fee
2% - interest
2% - savings
5% - capital build-up
2. A provident loan not paid within the period of two months is charge of a penalty of 5%.
3. In case of delinquent of a provident loan on the due date, the loan can be restructured by paying a penalty of 5% and another 10% retention for the next two months schedule.
1% - service fee
2% - interest
2% - savings
2% - capital build-up
Regular loan
- A regular loan is based on the 25% of copra volume and 80% share capital of the member or the capacity of the member to pay as the case maybe. A minimum of P 3,000.00 and a maximum of P 50,000.00.
- A member will file an application for loan to the credit committee for evaluation and review of the credit record as will as the members schedule for coconut harvesting.
- Loan involving bigger amounts, P 15,000.00 and above must be secured by collateral (a title, certificate of ownership of appliances not more than three years from the date of purchases, etc.)
- Regular loan will due in three months or base on coconut harvesting (2 or 3 months period).
- Retentions for regular loaning will be 8%.
1% - filing fee
2% - interest
2% - Savings
2% - capital build-up
Computation of interest will be 2% and service fee 1% monthly on the next following month from the date of loan. 7. In case of default in payment of lona on the due date, the loan can be rescheduled/restructured by paying a penalty of 5% and a full payment of the total retention equivalent to 8%.
1% - service fee
1% - filing fee
2% - interest
2% - Savings
2% - capital build-up
Delinquent loan – if a member ignores collection or communication (demand letters) from the cooperative, the deposits (savings and share capital) of the member maybe used to cover the loan amount, including the interest and surcharges.
Today's Price:
COPRA: P30.00/Kilo
CHARCOAL: P15.00/Kilo
Price may change without prior notice!
CHARCOAL: P15.00/Kilo
Price may change without prior notice!