Membership Information

Duties of a Member

    • Pay the installment on capital subscription. Participate in the continuous capital build up (CBU) of the cooperative.
    • Patronize/Avail the loan facility.
    • Attend the membership meeting whether general or special.
    • Promote the aims and purposes of the cooperatives, the success of its business, the welfare of its members & the cooperative movement as a whole.
    • Obey the rules & regulations provided by RA 9520, the cooperative by-laws, the decision of the General assembly and the Board of Directors, and the policies and decisions that may be promulgated by the CDA.

Rights of a Member

    • Participate in the deliberation during meeting
    • Vote on all matter
    • Seek any elective position
    • Inspect and examine the books of accounts
    • Avail the services of the cooperative without any discrimination

Expulsion

    • Not patronizing the services
    • When continually failed to comply with obligations
    • Acted a violation of the by-laws and the rules of the cooperative
    • For any act or omission injurious or prejudicial to the interest and welfare of the cooperative

Capital Build-Up (CBU)

  • The amount of money that the member has paid for his subscription (Non withdrawable unless the member resigns) resignation must be in writing. Member can re-enter after 3 months.
  • Minimum of P200.00 deduction per payday
  • 5% of member’s dividend on capital. 

Interest on Share Capital

  • Based on Average CBU contributions distributed twice a year. (March & August)
  • Rate is dependent on the income of MMCFCC with average rate of 4-6% per year
  • (Tax exempt) 

Patronage Refund

  • Based on total paid interest from loan with average rate of 8-10% per year
  • (Tax exempt) 

Savings Deposit

  • Maintain a minimum balance of P500.00 to earn the 1.% interest rate per year.
  • Withdrawable anytime.
  • (Tax exempt) 

Member’s Benefit (Damayan)

  • Members and Dependent (Mortuary Assistant)

If Member =                        Php 50,000

If elected Dependent = Php 10,000

]