AMPC-Ed.Com
EDUCATION COMMITTEE and VOLUNTEER AMPC-Ed.Com
“The great aim of education is not knowledge but action” - Herbert Spencer AMPC-Ed.Com “in addition as Bob Schildgen said on “Co-op Education is About Cooperatives” …. Coop education has “to involve a much deeper effort to raise members' awareness of what is going on in the world and how the co-op alternative can effectively make a difference.” AMPC-Ed.Com
Cooperative education must focus on “helping improve the quality of life of its members” which is living out the Co-operative principles and values through its every day transaction and practice of the cooperative. MEMBERSHIP EDUCATION BRIEFING (MEB)
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Coop Origin, Philosophy and Concept of Cooperative COOPERATIVE PHILOSOPHY
Not for PROFIT Not for CHARITY But for . . .
8 COOPERATIVE UNIQUE IDENTITY
A COOPERATIVE HAS A UNIQUE IDENTITY: It is both an association of people and a business enterprise. It is not one or the other; it is both. This dual nature of the cooperative is important in preserving its essence. When a cooperative moves away from this essence, to that extent it moves away from being a cooperative
9 WHAT IS THE PURPOSE OF THE COOPERATIVE? A cooperative always starts with an economic objective because it is meant to address an economic need.
To acquire goods and services Participating in the affairs of the cooperative Social Responsibility
10 The Brains behind the Cooperative Movement.
Robert Owen William King M.D. Friedrich Wilhelm Raiffeisen (1771-1858) 1786-1865 1818 – 1888
11 Filipinos travelling in Europe during the later part of the 19th century was impressed with the success of new economic movement in effecting the economic and social life of the people.
12 Two names were noted:
Dr. Jose P. Rizal and Teodoro Sandiko.
13 Cont…
Cooperative movement has since then proliferated to other countries like Germany, Belgium, Italy, Denmark, Sweden, Canada, Quebec, United States of America and many more.
14 •HOW THE COOPERATIVE MOVEMENT •STARTED LOCALLY?
15 Cont....
In 1916- The first rural credit association, Agricultural Credit Cooperative Association of Cabanatuan was organized.
16 16 Teodoro Sandiko, then governor of Bulacan, prepared a bill that became a law, after the Reiffeisen type of credit union.. The first Agricultural Credit Cooperative Association was formed on October 18, 1916 in Cabanatuan, Nueva Ecija.
17 WHAT are the Cooperative Values?
It is in our statement of Values that we engage the hearts, conscience and loyalty of cooperative members. The first sentence of the values statement addresses our convictions about how to achieve a better society and what form that society should take. (Dr.Ann Hoyt of the University of Wisconsin Center for Cooperatives)
18 Cooperative Values
Equality Democracy Solidarity Social Responsibility Caring for others Self-Help Honesty Openness Equity Responsibility
19 WHAT IS COOPERATIVE? (R.A. 9520 ART. 3)
A cooperative is an : autonomous duly registered association of persons with common bond of interest who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations
20 WHAT are the Cooperative Principles?
1. Voluntary & Open Membership 2. Democratic Member Control 3. Member Economic Participation 4. Autonomy & Independence 5. Education, Training and Information 6. Cooperation among Cooperatives 7. Consern for Community
21 CO-OPERATION AMONG COOPERATIVES
EDUCATION, AUTONOMY TRAINING & INDEPENDENCE & INFORMATION
OPEN & DEMOCRATIC MEMBER CONCERN FOR VOLUNTARY MEMBER ECONOMIC COMMUNITY MEMBERSHIP CONTROL PARTICIPATION
SOCIAL CARING EQUALITY DEMOCRACY SOLIDARITY RESPON- FOR SIBILITY OTHERS
RESPON SELF-HELP HONESTY OPENNESS EQUITY -SIBILITY
COOPERATIVE AMPC-Ed.Com
COOPERATIVE LAWS When cooperatives drifted from its real purpose: It can be construed as an abridgement to Coop Member’s (members, elected and appointed representatives, managers, and employees) right & privileges on education, training and information. (Art4, RA 9520, 5th Cooperative Principle, Coop Bylaws).
In line with the Primary objectives and goals of a cooperative; “to help improve the quality of life of its members” (Art 7, RA 9520)
24 Cont…
In 1990- Pres. Corazon C. Aquino signed into law RA 6938 – The New Cooperative Code of the Philippines and R.A. 6939- The Act creating the Cooperative Development Authority (CDA ).
25 AMPC ORGANIZATIONAL STRUCTURE
Representative Assembly
Audit Board of Election Committee Directors Committee
Treasurer Secretary
Mediation/ Ethics Credit Education Other Conciliation Committee Committee Committee Committee Committee
Management Staff
26 REPRESENTATIVE ASSEMBLY
The highest policy-making body of the Cooperative Composed of AMPC members’ representatives or delegates in good standing elected by each district and are eligible to participate in the electoral process Assembled for the purpose of exercising such powers and prerogatives being the highest governing body of the Cooperative
27 DISTRICT ASSEMBLY
The Cooperative is divided into three (3) districts composed of not less than one thousand (1,000) members entitled to vote for each district. Composition of Each District: 1.District 1 – Agdao branch, San Pedro branch and C.M. Recto branch 2.District 2 - Toril branch, Ulas/Mintal branch, Matina branch and Calinan branch 3. District 3 – Buhangin/Cabantian branch, Sasa branch and Samal branch
28 WHO CAN ATTEND DISTRICT ASSEMBLY MEETING
A bonafide member of the district of the cooperative where he belongs and is a member entitled to vote Must have a share capital of not less than Fifteen Thousand (P15,000.00) Pesos Not delinquent as to payment of any obligation to the cooperative at least one (1) month before any assembly
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AMPC HISTORY 31 32 AMPC VISSION and MISSION
A World-class cooperative in the Philippines.
For our members, AMPC excels in the delivery of locally responsive and globally competitive financial services, in giving superior and optimum returns on investment and in making their total cooperative experience exceptional. For our employees, AMPC nurtures their development and help them reach their maximum potential as professional, accountable and productive individuals.
33 AMPC CORE VALUES • S • E • R • V • I • C • E
34 AMPC TODAY
Members Savings Share Capital No. of Branches Total Assets
35 AMPC AWARDS
Main the FOCCUS Brand by Model Cooperative Network Federation FIRST Century Cooperative in Mindanao by National Cooperative Movement & Phil. AMPC Cooperative Federation BELIEVE WE CAN
36 AMPC AWARDS
FIRST Billionaire Cooperative in Davao City Cooperative Development Authority and Cooperative City Council AMPC BOARD OF DIRECTORS
Ruby Socorro Jasmine M. Rivera Susan C. Bungabong Marcosa B. dela Cruz Calderon – BOD BOD Member Chairperson Vice-Chairperson Member
Atty. Marvin S. Pulido Antonieto V. Remolar Albin O. Respuesto Alfred T. Allaga BOD BOD Member BOD Member BOD Member Member AMPC BOD & OFFICERS
Dominador Dizo BOD Member
Redindo E. Bangcaya Elsie L. Porquilio Romeo Patromonio Secretary Treasusrer General Manager
AMPC-Ed.Com
MEMBERSHIP WHO CAN BE A MEMBER?
Open to all Filipino citizens
18 to 65 years old (but not more than sixty five years old at the time of original membership). Who are residents and/or workers in the Philippines With capacity to enter a contract and possess all the qualifications prescribed in the By-laws
42 WHO CAN BE A MEMBER?
Prospective members shall: a. Pledge to undertake the responsibilities of Membership; b. Complete the prescribed pre- membership awareness briefing, seminars and membership training programs; and c. Use or anticipation to use the services of the cooperative
43 HOW TO BECOME A MEMBER?
ATTEND A PRE-MEMBERSHIP FILL-UP APPLICATION FORM EDUCATION SEMINAR FOR MEMBERSHIP
IF APPROVED, PAY THE SUBMIT FORM TOGETHER W/ THE PRESCRIBED FEES REQUIREMENTS (Valid I.D., Proof of (membership, share capital, Address such as water and light savings, mortuary, coop billings, recent colored photos, 1x1 passbook and I.D. and 2x2, marriage contract for married and birth certificate for single
PARTICIPATE IN THE SAVINGS MOBILIZATION and CAPITAL BUILD-UP
44 MEMBERSHIP DOCUMENTARY REQUIREMENTS
Photo ID (1 piece 1x1 & 2x2) Photo copy of any one valid ID (SSS ID, BIR/TIN, Voters ID, Senior Citizen ID Driver’s license, passport, Postal ID, etc. Marriage contract ( Married ) Birth Certificate ( Single ) 55 & above is required to have a medical certificate
45 Membership FEES
Regular Youth Saver Share Capital P 1, 000.00 P 50.00 Initial Savings 500.00 50.00 Mortuary Fund 500.00 Membership Fee 200.00 Coop Passbook/ID 100.00 50.00 TOTAL P 2,300.00 P 150.00
No application for membership shall be approved without the accompanying requirements herein set forth. 46 DUTIES AND RESPONSIBILITIES DUTIES AND RESPONSIBILITIES OF A MEMBER
Pay in full the share capital subscribed Obey the laws, of sixty (60) shares by-laws, policies, amounting to Fifteen Pay the P400 Thousand Pesos and its Pay the loan monthly (P15,000.00), within implementing a period of three (3) amortization as rules, regulations capital build- years from date of it falls due; and procedures; up; admission of membership; Cont…
Promote and Patronize at all times the aims and Participate in Attend and participate purposes as well as the the in all meetings of the products and services of cooperative where the Cooperative and be membership attendance and mindful always of all education participation is required, activities and endeavors programs; observing at all times toward the total and full proper decorum and development of all its discipline; members and not for a single or group of individuals only AMPC-Ed.Com
SAVINGS DEPOSIT AND OTHER ALLIED PRODUCT & SERVICES 51 SAVINGS DEPOSIT
REGULAR SAVINGS
Interest rate is 3-5% & Tax Free Minimum Deposit of P100 to P500.00
52 SAVINGS DEPOSIT
53 EDUCATION SAVINGS SAMPLE COMPUTATION
Initial deposit required 500 Monthly contribution 100 savings period 60mos Interest rate 5% Total deposit 6,500.00 Total Interest earned 1,100.44 Deposit Balance Interest Total 1st year 1,700.00 85.00 1,785.00
2nd year 2,985.00 149.25 3,134.25
3rd year 4,334.25 216.71 4,550.96
4th year 5,750.96 287.55 6,038.51
5th year 7,238.51 361.93 7,600.44
54 RETIREMENT SAVINGS SAMPLE COMPUTATION
Initial deposit required 500 Monthly contribution 300 savings period 60mos Interest rate 5% Total Deposit 18,500.00 Total Interest earned 3,025.03
Deposit Balance Interest Total
1st year 4,100.00 205.00 4,305.00
2nd year 7,905.00 395.25 8,300.25
3rd year 11,900.25 595.01 12,495.26
4th year 16,095.26 804.76 16,900.03
5th year 20,500.03 1,025.00 21,525.03
55 HOME EQUITY SAVINGS SAMPLE COMPUTATION
Initial deposit required 500 Monthly contribution 500 savings period 60mos Interest rate 5% total deposit 30,500.00 Total Interest earned 4,949.62
Deposit Balance Interest Total 1st year 325.00 6,825.00 6,500.00 2nd year 641.25 13,466.25 12,825.00 3rd year 973.31 20,439.56 19,466.25 4th year 1,321.98 27,761.54 26,439.56 5th year 1,688.08 35,449.62 33,761.54
56 AUTO SAVINGS SAMPLE COMPUTATION
Initial deposit required 500 Monthly contribution 500 savings period 60mos Interest rate 5% total deposit 30,500.00 Total Interest earned 4,949.62
Deposit Balance Interest Total 1st year 6,500.00 325.00 6,825.00
2nd year 12,825.00 641.25 13,466.25
3rd year 19,466.25 973.31 20,439.56
4th year 26,439.56 1,321.98 27,761.54
5th year 33,761.54 1,688.08 35,449.62
57 LEISURE SAVINGS SAMPLE COMPUTATION
Initial deposit required 500 Monthly contribution 100 savings period 36mos Interest rate 5% total deposit 4,100.00 Total interest earned 450.96
Deposit Balance Interest Total 1st year 1,700.00 85.00 1,785.00
2nd year 2,985.00 149.25 3,134.25
3rd year 4,334.25 216.71 4,550.96
58 TIME DEPOSIT
59 TIME DEPOSIT SAMPLE COMPUTATION
Interest= P x % x # days 365
Term 3 mos 6 mos 9 mos 12 mos
Principal 5,000.00 5,000.00 5,000.00 5,000.00
Interest 43.15 93.70 147.95 250.00
Total Savings 5,043.15 5,093.70 5,147.95 5,250.00
60 INVESTMENT DEPOSITS
Open to regular members Initial savings is P100.00 and monthly deposit of P100 Term (12mos, 18mos ,24mos, 30mos, 36mos and 48mos Interest rate due is 9% per annum
61 INVESTMENT DEPOSITS
Open to regular members Initial savings is P 200.00 and monthly deposit of P200 Term (12mos, 18mos ,24mos, 30mos, 36mos and 48mos Interest rate due is 9% per annum
62 INVESTMENT DEPOSITS
• ID200 deposit plan can be paid by QUARTERLY, SEMI-ANNUALLY OR ANNUALLY:
PLAN TYPE DEPOSIT AMOUNT ID 200Q (Quarterly) P 600 ID 200S (Semi-annually) P1,200 ID 200A (Annually) P2,400
• Members may opt to open several or combination of plans up to 20 units.
63 AMPC DIVERSIFIED PRODUCTS & SERVICES
64 BILLS PAYMENT . AMPC accept payment of the following: Davao Light, Meralco, Veco, Dasureco, Ilo-ilo Electric Cooperative PLDT, Bayantel,Globe,Smart, Suncellular Skycable,Cignal,Planet Cable,CableLink Credit Cards- AUB, BPI AirLines- Cebu Pacific, PAL NSO Malayan Insurance And many more
65 66 ELECTRONIC LOADING CENTER HEALTHCARE AND WELLNESS PROGRAM INSURANCE PLAN
COOP FAMILY PLAN Designed to give protection to at least 5 members of the family
GLAFI (Group Life & Accident with Fire Insurance)- Designed to give protection for Individual Plan only.
COOP AKSI (Personal Accident Insurance) KEYMAN PROTECTION PLAN (accident insurance for white collar positions like executives, doctors, dentists, managers and coop leaders)
TRAVEL PERSONAL Accident Insurance
69 INSURANCE PLAN
STUDENT ACCIDENT INSURANCE (accident insurance for student)
CHAIN INSURANCE Covers daily hospital benefit in excess of twenty four (24) hours confinement due to sickness or accident
MOTOR CAR INSURANCE
FIRE INSURANCE (Residential and Commercial Building)
70 LTO SERVICES
A. Renewal of Motor Vehicle Registration (Davao city and outside Davao city )
A. Transfer of Ownership on Motor Vehicle Registration (Davao City & Outside Davao City)
71 DAMAYAN SERVICES Contribution P15.00 Regular Member P5.00 Associate Member
(See Mortuary Fund Policy at the back of the Application for Membership
83 DAMAYAN FUND POLICY Mortuary fund of Five hundred pesos (P500.00), shall be collected from coop members upon acceptance and approval of application. It shall be a policy of AMPC to require all members to maintain a minimum monthly mortuary fund deposit of Two Hundred Pesos (P200.00) with an obligation to monitor that the same mortuary fund deposit shall not be depleted.
84 DAMAYAN FUND POLICY
% of Mortuary Amount of Share Capital Contributions @ Contribution (Php15) Php15.00/member 1,000-2,999 65% 9.75 3,000-4,999 70% 10.50 5,000-6,999 75% 11.25 7,000-8,999 80% 12.00 9,000-10,999 85% 12.75 11,000-12,999 90% 13.50 13,000-14,999 95% 14.25 15,000 and Above 100% 15.00
The bigger the amount of share capital, the bigger mortuary benefits assured.
85 DAMAYAN FUND POLICY
Duration of Membership % of Mortuary Fund Benefit less than 1 month 5% of MFB 1 month 8% 2 months 17% 3 months 25% 4 months 33% 5 months 42% 6 months 50% 7 months 58% 8 months 66% 9 months 74% 10 months 83% 11 months 92% 12 months 100%
86 DAMAYAN FUND POLICY
• Unclaimed mortuary benefits after the considerable lapse of time despite the fact of death as evidenced by the pertinent certification shall be forfeited based on the following:
Place of Death Days after the date of death Davao City 90 days Outside Davao City 180 days Abroad 360 days
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WORKSHOP AMPC-Ed.Com
LOAN PRODUCT & SERVICES Loan Portfolio
• Loan portfolio is the total of the loans held by the cooperative • The objectives of achieving safe and sound loan portfolio management are: – To maintain confidence of depositing members – To protect the funds of the cooperative – To produce the major portion of the cooperative’s income
90 Loan Portfolio
• Achieving objectives requires: – Developing and adhering to policies and procedures – Exercising sound judgment with every loan granted
91 Loan Portfolio
• Every loan contains an element of risk!
• Risk = the chance or probability of loss due to uncertainty about future events; interest rates; market conditions and the borrowers ability to make payments
92 Basic Questions
• With every loan application under consideration, the same basic questions must be answered • Purpose: – What will the borrower use the money for? – Is the purpose acceptable according to cooperative policy?
93 Basic Questions
• Borrower credit worthiness: – How will the borrower repay? – Is there a clear source of income? – How consistent/steady is the income? – How financially skilled is the borrower? – What do the borrower’s budgets and cash flow projections show? – Is there a ‘track record’ for this borrower?
94 Basic Questions
• Loan Structure: – What length of loan is the borrower requesting? – Is it within cooperative guidelines for the loan purpose? – What frequency of payments suit the borrower? – What frequency of payments suit the cooperative? – What interest rate would apply?
95 Basic Questions
• Risk Management: – What is being offered as collateral/security? – Is the value of the collateral/security reasonable compared to the value of the loan? – If the cooperative had to seize the collateral to repay the loan, could the collateral be sold? Would the sale price pay off the loan? – What protection will the cooperative have against unforeseen circumstances?
96 The 5 C’s of Lending
• Character • Capacity • Capital • Credit • Collateral
Each of the basic questions, and each component of the 5 C’s of lending requires either information from the borrower, or analysis by the Loan Officer/BM/Lender
97 The Application Interview • Member Identification – Name; Address; – Phone Number(s) – Date of Birth – Valid identification number – Marital status – Name of spouse or life partner – Number of dependents (children or adults)
98 The Application Interview
• Employment Information – Current employment – How long? – Income? – Can the income be proven? • Review sample application • Discussion
99 LOAN PRODUCT
BACK TO BACK EMERGENCY BUSINESS LOAN COMMERCIAL SALARY LOAN VENDORS LOAN PENSION ASSET ACQUISITION
100 BUSINESS LOAN
The purpose of this loan is to finance the business requirements of the member and future member such as: a. Additional working capital, b. Business expansion capital, c. Purchase of equipment and machinery, d. Purchase of real estate or properties for commercial purpose and other business-related purpose and/or any other legal purposes. 101 BUSINESS LOAN FEATURES SPECIFICATIONS
Who can avail? AMPC Member with minimum paid-up capital of P30,000 Self-employed/businessmen with profitable registered business for 3 years
Loan Amount Minimum-P100,000 Maximum – P10,000,000 Repayment Term Up to 60 months Interest rate .98%/month flat rate Collateral House and Lot; Commercial/Residential Lot Commercial lot and building; Agricultural farm (except certificate of land ownership award or CLOA with in prohibited period and patent with in prohibited period).
Mode of Payment Monthly or Semi-Monthly PDC
102 SALARY LOAN The purpose of this loan is to provide alternative funds to members needing such amount for business or any personal purposes such as: a. Purchase of consumer goods, b. Personal property and services, c. Debt consolidation, d. Home renovation, e. Tuition fees, f. Planned vacation, g. Medical,etc. The repayment is from the borrower’s wages or salary.
103 SALARY LOAN FEATURES SPECIFICATIONS Who can avail? Must be a member of AMPC with share capital of P1,000 Regular/Permanent employee of at least One (1) year of continued service 18-65 years old Minimum Gross Monthly Income- P8000 Residence tenure- If renting, 1 year residency Must have a residence or office landline/post-paid line
Loan Amount Minimum-P10,000 Maximum – P350,000 Repayment Term Up to 60 months
Interest rate Up to 36mos.- 1.08% flat or 2% dim. Up to 60mos.- 1.33% flat or 2.5% dim. Collateral No Collateral Mode of Payment Monthly or Semi- Monthly Thru ATM Payroll card deduction or Salary deduction ( Group MOA) Co- Maker Co-Maker is required, must be a member in good standing
104 VENDORS LOAN
Vendor’s Loan is a short term and unsecured loan which is scheduled to be repaid within a short time of period from 30 days to 90 days on a daily basis This loan does not require collateral and the cooperative relies solely on the borrower’s credit history and credit score.
It is intended to finance working capital requirements of members engaged in small scale entrepreneurship and other related ventures with income on a daily basis These loans are immediately delivered, enabling the borrower to operate with increased liquidity.
105 VENDORS LOAN FEATURES SPECIFICATIONS
Who can avail? AMPC Member in good standing Small-scale business entrepreneurs with businesses located near AMPC branches Distant location is allowed provided that there is a minimum of 10 Vendor's Loan borrowers in that area.
Loan Amount Minimum-P5,000 Maximum – P20,000
Repayment Term 60 to 90 days
Interest rate 2%/month flat rate
Collateral No Collateral
Mode of Payment Daily
Savings Required? Yes. Mandatory – Savings Mobilization of P10 to P20 which is included in the daily amortization
Financial Education Yes. Mandatory Required?
106 BACK TO BACK LOAN Back-to-Back Loan is a standby loan available to existing Shareholder, Savings and Time Deposit account holders Secured by time deposits, unencumbered savings deposit or share capital It intends to bridge financial gaps for personal and business purposes Payable with interest in fixed monthly or semi-monthly installments
107 BACK TO BACK LOAN FEATURES SPECIFICATIONS Who can avail? Member in good standing Has no delinquent loan, With share capital deposits, Time Deposit or savings deposits other than regular savings Loan Amount Minimum-P1,000 Maximum – based on member’s deposits: Share Capital – 90% Time deposit - 100% Other deposits – 100% ( except regular savings) Repayment Term Up to 36 months or depending on deposit maturity
Interest rate .88% per month flat rate Collateral Hold-out deposits/Time deposit certificate
Mode of Payment Weekly, Bi-Monthly, Semi-Monthly, Monthly via Auto Debit/Over the Counter/ PDC
Co- Maker Co-Maker is not required
108 PENSION LOAN The purpose of this loan is to provide alternative funds to member- borrower who is pensioner needing such amount for business or any personal expenditures such as: a. Purchase of consumer goods b. Personal property and service services, c. Home renovation, d. Planned vacation, e. Medical, etc.
The repayment is from the member’s pension.
109 PENSION LOAN FEATURES SPECIFICATIONS Who can avail? Member of good credit standing with no booked/availed pension loan in other financial institution such as: Pensioners (SSS, GSIS, PVAO/USAFE, AFP, PNP, Pension- Survivor) Loan Amount Maximum of P100,000
Repayment Term Up to 36 months - P50,000 and below – 18 months - P51,000 to P100,000 – 36 months Interest rate Up to 12mos. – 2% dim./mo. More than 12mos. – 2.5% dim./mo. Collateral No collateral, only ATM Card deposited
Mode of Payment Monthly or Semi- Monthly Thru ATM Payroll card deduction or Salary deduction ( Group MOA)
Co- Maker Co-Maker is not required
110 EMERGENCY LOAN
This type of loan is a short term loan intended for “Emergency” purposes or event that could not be reasonably expected to occur, and is unlikely to occur again
111 EMERGENCY LOAN
FEATURES SPECIFICATIONS Who can avail? Member in good standing Has no delinquent loan Loan Amount Maximum of P10,000.00 only
Repayment Term Up to 3 months Interest rate 3% diminishing rate Collateral No collateral Mode of Payment Monthly or Semi-Monthly Thru PDC, Over the Counter
Co- Maker Co-Maker is not required
112 ACQUIRED ASSET LOAN
Acquired Asset loan is a special window loan for repossessed/acquired properties of Agdao Multipurpose Cooperative. The property shall also serve as the collateral for the loan acquired
113 ACQUIRED ASSET LOAN
FEATURES SPECIFICATIONS Who can avail? Member in good standing Has no delinquent loan,
Loan Amount Depends on the sale value of the Acquired property of the Cooperative Repayment Term P50,000 – up to 12 mos. to pay P50,001 and up – up to 36 mos. to pay Interest rate Real Estate – 1.1% dim. Rate Appliances/Motor Vehicle: - P50,000 & up – 1% dim. rate - below P50,000 – 0.5% dim. rate
Collateral Acquired property Applied Mode of Payment Weekly, Semi-Monthly, Monthly via Auto Debit/Over the Counter/ PDC
Co- Maker Co-Maker is not required
114 REGULAR LOAN
The purpose of this loan is to provide alternative funds to members needing such amount for providential or productive purposes
115 REGULAR LOAN
FEATURES SPECIFICATIONS Who can avail? Must be a member of AMPC with share capital of P1,000 With Visible Source of Income Existing loan must be updated Must be physically fit
Loan Amount Minimum-P1,000
Repayment Term Up to 36 months
Interest rate Up to 12mos.- 2% dim. Up to 36mos.- 2.5% dim. Collateral Chattel/Real Estate Mode of Payment Daily, Weekly, Monthly or Semi- Monthly
Co- Maker Co-Maker is required, must be a member in good standing and with capacity to pay
116 DISTRIBUTION of DIVIDEND and PATRONAGE REFUND
How to compute dividend and patronage refund? Dividend Rate = Amt appropriated for dividend ∑ of members’ ave share capital
Patronage = Amt appropriated for patronage refund refund rate Total interest paid by members
(AMPC’s by-laws allows up to 70% of distributable surplus to be appropriated for dividend)
117 NET INCOME TO BE RETURN TO MEMBERS
Distribution of Net Surplus Revenue - Int income on loans Service fee Other income Gross Revenue Total Expenses Net Surplus Distribution: General Reserve Fund Not less than 10% Education Fund Not more than 10% Community Dev Fund Not less than 3% Optional Fund Not more than 7% Available for Dividend and Patronage refund
118