MEMBERSHIP
Who can be a Member ?
Any individual of legal age, association, corporation, cooperative, civic or unincorporated organization/ institution that is residing, doing business or working in the areas of Barangay Pansol and/or Loyola Heights of Quezon City for at least 3 consecutive years can be Regular Members.
Individual members should be at least 18 years old but not more than 65 years old. They can include spouses and their children in their individual capacities.
Others from outside these geographical areas can be accepted on case to case basis, within the rules of the Cooperative Development Authority, (CDA), subject to the approval of the board. Transactions of these members, however, unless specifically approved by the Board, will be limited only to depository and capital accounts.
Minors can be Associate Members provided one of their parents is a Regular Member. The Coop encourages minors to open depository accounts to give them the opportunity to save through a formal institution.
Types of Membership
1) Regular Members – are applicants who have completed the required Coop Orientation Seminar, have paid up the minimum required capital share as to be determined from time to time, and have been confirmed by the Board. The present minimum share capital amounts to P2,500 stocks, as approved by the Board of Directors. This amount, in turn, is composed of 25 units of P100.00 per unit.
2) Associate Members – are those who have not fully paid the required minimum paid up share capital or those maintaining only depository and savings account. Minors are classified as Junior Savers, under the category of Associate Members.
3) Associate Members can upgrade to become Regular Members upon completion of the required Coop Orientation Seminar and payment of the minimum required share capital and/or the attainment of legal age of 18.
4) Note: Special installment programs can be developed by the Coop to help applicants pay up the minimum required share capital over an acceptable period of time.
Who can be a Member ?
Any individual of legal age, association, corporation, cooperative, civic or unincorporated organization/ institution that is residing, doing business or working in the areas of Barangay Pansol and/or Loyola Heights of Quezon City for at least 3 consecutive years can be Regular Members.
Individual members should be at least 18 years old but not more than 65 years old. They can include spouses and their children in their individual capacities.
Others from outside these geographical areas can be accepted on case to case basis, within the rules of the Cooperative Development Authority, (CDA), subject to the approval of the board. Transactions of these members, however, unless specifically approved by the Board, will be limited only to depository and capital accounts.
Minors can be Associate Members provided one of their parents is a Regular Member. The Coop encourages minors to open depository accounts to give them the opportunity to save through a formal institution.
Types of Membership
1) Regular Members – are applicants who have completed the required Coop Orientation Seminar, have paid up the minimum required capital share as to be determined from time to time, and have been confirmed by the Board. The present minimum share capital amounts to P2,500 stocks, as approved by the Board of Directors. This amount, in turn, is composed of 25 units of P100.00 per unit.
2) Associate Members – are those who have not fully paid the required minimum paid up share capital or those maintaining only depository and savings account. Minors are classified as Junior Savers, under the category of Associate Members.
3) Associate Members can upgrade to become Regular Members upon completion of the required Coop Orientation Seminar and payment of the minimum required share capital and/or the attainment of legal age of 18.
4) Note: Special installment programs can be developed by the Coop to help applicants pay up the minimum required share capital over an acceptable period of time.
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