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TESDA-IX Multi-Purpose Cooperative

San Roque, Zamboanga City

 

 

 

COOPERATIVE POLICY MANUAL

 

 

 

I. MEMBERSHIP POLICY

 

Objective:

            This membership policy is being adopted for the purpose of having clear, concise and effective guidelines in the proper conduct of each member in order to ensure quality membership.

 

 

POLICY 1:        Qualification

Membership of this cooperative shall be open to all individuals, primarily, those who are  employees of TESDA Region IX and other Institutions outside TESDA-IX, directly or indirectly connected to TESDA-IX but having the same nature of Operations and having permanent positions.

 

POLICY 2:        Kinds of Membership

            The TESDA-IX MPC accepts two(2) kinds of membership:

 

1. Regular member – is an employee of  the Technical Education and Skills Development Authority, Region IX, Western Mindanao, who can vote and be voted upon.

2.       Associate member-

*Is a member affiliate;

*Regular employees from non-TESDA Institutions within Region IX with similar nature of operations with TESDA-IX;

*Direct Relatives of a regular member;

*Has no right to vote nor be voted upon.

 

 

POLICY 3:        Requirements for Membership

 

            The member should:

 

1. Pledge to undertake the responsibilities of  a member.

2. Complete the two (2) day Pre-membership education Seminar (PMES).

3. Pledge to patronize the business of the Cooperative.

 

 

3-a. Application for Membership:

 

1.The applicant shall fill up the membership and subscription form with an application fee of ten pesos (P10.00) and shall be presented to the BOD for proper action.

2.The applicant shall subscribe at least 20 shares with a total value of Two Thousand Pesos (P 2,000.00) of which at least Five Hundred Pesos (P 500.00) corresponding to five shares shall be paid upon submission of the application for membership.

 3.The membership and subscription agreement shall provide the terms of payment on the unpaid subscription. However no member shall hold or own more that twenty percent (20%) of the total share capital of the cooperative.

4.The applicant should also deposit the amount of five hundred pesos (P500) as initial savings deposit.

5. Membership application shall be presented to the BOD if all the requirements are complied. In the event the membership application is rejected by the BOD,  the membership applicant may appeal his case to the next GA by giving due notice to the secretary of the BOD 60 days before the holding of such whose decision shall be final.

 

 

POLICY 4:        Duties and Responsibilities of a Member

 

Every member should:

1. Pay in installment his capital  subscription and other obligations as it falls due;

2. Participate in the Capital Build-Up Program (CBU)

3. Patronize regularly its business.

4. Actively participate in all the meetings of the Coop.

5. Obey the rules and regulations as provided per RA 6938 otherwise known as the Cooperative Code of the Philippines, the Articles and By-Laws of the Coop. the policies and decisions of the BOD, the General Assembly, and the Regulatory agency the CDA; and

6. Help promote the aims and purpose of the Coop, the success of its business, its welfare, and the cooperative movement as a whole.

 

 

POLICY 5:        Rights of a Member

 

1. Participate in the deliberation during General Assembly Meetings; 

2.  Vote on all matters brought before the meeting;

3. Seek any elective position subject to provisions of  Section 12 Article III as provided in the Coop By-Laws.

4. Avail himself of the services of the Cooperative without any discrimination whatsoever upon compliance with the conditions and requirements thereof;

5. Inspect and examine the books of accounts, the minutes books, share register, and other records of the cooperative during office hours.

6.  Exercise other rights and privileges of membership.

 

POLICY 6:        Members In Good Standing (MIGS)

 

 A member is in good standing if he/she:

1. Actively participates in all meetings of the Coop and vote in all matters  presented on the said meeting.

2. Avails and patronizes the services of the Coop and complies with all the terms of payment.

3. Participates in the CBU scheme and Savings Mobilization Program of the coop.

4. Pays his obligations in the Coop such as monthly dues, loan amortizations and other dues, where there is no at least 3 months old accounts.

 

 

POLICY 7:        Disciplinary Measures

 

1.  Any member who is not in good standing (Non-MIGS) shall:

a  Not be entitled to vote and to be voted upon

b. Have his/her dividends be deducted to his/her outstanding balance of his/her loans with the cooperative and shall not be given to him/her in cash.

c. Be only second priority in all services of the Cooperative, priority shall be given to all MIGS.

2.  Any member who fails to fully pay his subscribed capital share as provided in the subscription agreement shall pay a monthly penalty of 2% on the unpaid balance.

 

POLICY 8:        Termination of Membership:

 

            Membership in the Coop may be terminated either by withdrawal or by expulsion.

 

6.1 Withdrawal – any member desiring to terminate his membership by withdrawal shall submit a written application to the BOD, however no member shall be allowed to withdraw or terminate his membership during any period in which he has pending obligation with the coop.

6.2         Expulsion – any member may be terminated by a vote of the majority of the BOD on any of the following causes.

1.       when a member has not patronized the services of the coop for a period of one (1) year.

2.       when a member has continuously failed to comply with his obligation (Paying debts as they fall due and has no 3 month old accounts.)

3.       when a member has acted in violation of the by-laws and the rules of the cooperative.

4.       For any omission or prejudicial to the interest or the welfare of the cooperative.

 

If in the case a member being expelled has pending obligations from the coop, all of his/her contributions and receivables shall be automatically  deducted to his/her total obligations and the remaining balance, if any, must be settled/paid over the counter or by salary deduction (the coop reserves the right of claim as all loans must bear an agreement of sort with the member borrower, of which he/she agrees upon affixing his/her signature on the application form). In cases of excess, the same shall be returned to the expelled member in full, subject to availability of funds.

 

POLICY 9:        Appraisal and Payment of Member interest upon

                        Termination of membership

 

Upon termination of the membership of a member, the BOD shall determine the book value of a member share capital, in no case to exceed the par value, as established at the year end audited financial statement moved to the date of termination and shall fix the amount thereof to be paid subject to the availability of funds.

 

POLICY 10:       Reacceptance

 

Any member who has voluntarily withdrawn his membership may be reaccepted to the Coop after a period of 1 year and shall follow the same procedures as a new applicant unless determined by the BOD to be reasonable enough to be reaccepted without waiting the said period.

 

 

 

 

 

II. ORGANIZATIONAL STRUCTURE AND FUNCTIONS

 

 

 

 

 

Objective:       

                        The Organizational Structure and Functions Policy is being adopted for the pupose of clarity in the delineation of the duties and responsibilities of the Officials of the Cooperative and to fully be guided with the powers and the limitations of each office or committee/body.

 

 

Policy 1:           The General Assembly;

 

                        The General Assembly Authority is the Highest Policy Making Body, the Final Authority in the Management and Administration of the affairs of the Cooperative.

 

Policy 2:           General Assembly Composition:

 

                        The General Assembly of the Cooperative shall be composed of  Members In Good Standing (MIGS) who are entitled to vote, duly assemble and shall constitute a quorum. Non-MIGS cannot be counted.

 

Policy 3:           General Assembly Exclusive Power:

 

1.          To elect and to remove for cause, the Directors or Officers and Committee Members;

2.          To hear, make comments/ suggestions, and approve the year-end consolidated reports of the different groups through their chairmen like;

a.       Board of Directors attendance in meetings, activities, performance, policies formulated and implemented, problems and deficiencies encountered in the performance of their duties, and other related activities within the fiscal year period in the cooperative.

b.       Credit Committee activities, performance, problems and deficiencies, encountered in the performance of their duties and in the implementation of the loaning and collection policies, status of loans and number of members served, and all other related activities performed.

c.       Audit and Inventory Committee activities, performance, problems and deficiencies, encountered in the performance of their duties, in the conduct of audit and inventory for both financial and management phases in the entire cooperative, being the internal control unit;

d.       Education and Training Committee activities, performance, number and types of training conducted, information campaign drives, membership admission and withdrawal/  Termination, continuing education programs and expansions and all other related activities;

e.       Manager’s Reports on the Business Operations of the Cooperative for the whole year, highlights of success and performance, problems and deficiencies encountered and all related activities in the performance of his/her duties and responsibilities;

f.         Treasurer, Bookkeeper, Accountant report on the financial status of operations and condition of the cooperative within the year.

 

 

Policy 4:           General Assembly, Regular Annual Meeting, Special Meeting:

 

 

4.1     Regular Annual General Assembly Meeting is held yearly within (30) days but not beyond (90) days after the close of fiscal year, to be held at  TESDA-IX, Function Room, TESDA-IX Complex, San Roque, Zamboanga City, or any place within its area of operation and at such time the BOD may designate.

4.2     A special General Assembly Meeting may be called to consider urgent matters requiring membership decision, at any time by a majority of the BOD, or within (30)days from receipts of written request from:

 

a.       at least 10% of the total MIGS, entitled to vote;

b.       The Audit and Inventory Committee;

c.       The Federation of Cooperatives/ Cooperative Bank/ Union of which the Coop is member, if any.

d.       The CDA or its authorized representative for any purpose it may deem necessary.

 

 

4.3     Written Notices of all regular or special assembly meeting shall be served by the secretary of the Board, through an agent, post, e-mail or publication in a paper or newsletter ,if any, posting of notices in conspicuous public places at least 2 weeks prior to the General Assembly.

4.4     Agenda in a regular annual assembly meeting are those specified in the notice of meeting and no other matters shall be treated;

4.5     Agenda in a regular annual assembly meeting are those set in Article III, Section – 8 of the By Laws;

 

 

Policy 5:           General Assembly Quorum:

 

1.       At least 25% of the total MIGS (Members In Good Standing) who are entitled to vote shall constitute a quorum;

2.       But at least 2/3 of the total MIGS who are entitled to vote shall constitute a quorum to approve the following:

 

a.       Amendments of the Articles of Cooperation and By-Laws;

b.       Ratification of Acts of Acts or Disloyalty of a Director;

c.       Ratification to void or able contracts entered into with one or more of its Directors, Officers of Committee Members;

d.       Removal of an elective officer

e.       Division of the Coop into two or more Coops;

f.         Merger and Consolidation of Cooperatives.

g.       Approval of Resolution of Voluntary dissolution where no creditors are affected, and or where creditors were affected.

 

 

Policy 6:           Board of Directors and Committees:

 

            6.1. The Board of Directors shall be composed of 5 elected Officials with qualifications in accordance with Article III, Section 12 of the By-Laws.

            6.2. During the election of the First General Assembly, One-half plus one (!/2 + 1) of the elected Board of Directors with the highest numbers of vote shall serve for  (2) years, and the remaining directors for (1) year. Thereafter, all shall be elected for a term of (2) years, provided that no director shall serve for more than (3) consecutive terms.

            6.3. Director’s Meeting shall be held (10) days after each annual general assembly, and elect, among themselves, by secret balloting a Chairman and Vice-Chairman;

            6.4. Loss of Confidence a Valid Ground for removal, if it is evidenced by acts or omissions causing loss of confidence in the honesty, integrity of such officer, it is a valid ground for removal;

 

Policy 7:      Cooperative Committees :

 

            The Cooperative shall have the following committees which is composed of duly elected officers during the annual general assembly, with its Duties and Responsibilities in accordance with the provision in Article II of the Cooperative By-Laws, these committees shall be composed of 3 duly elected officers during the annual general; assembly. They will select among themselves through secret balloting a chairman to head the committee.

            7.1.       Credit Commttee (CreCom)

7.2.             Audit  and Inventory Committee (AIC)

7.3.             Election  Committee (EleCom)

                       

Policy 8:           Management Staff and Personnel:       

           

            Other than the elected officers which composed the committees, other positions in the management staff is needed for the cooperative business:

8.1   Necessary positions in the management of the coop shall be determined by the BOD;

8.2   Recruitment of needed personnel shall be open to all qualified            members or outsiders, provided they pass the requirements  specially for highly technical positions;

8.3  The following personnel may be appointed by the BOD:

a.                   Secretary

b.                   Treasurer

c.                   Business Manager

d.                   Liaison Officer

8.4   The Business Manager, in the exigency of the cooperative business, may hire personnel to man the business, subject to availability of funds and the approval of the BOD.

 

Policy 9:           Compensation and Honorarium

 

9.1               At least (1) year business operation of the Coop, and depending on the availability of funds, the BOD and committees and all appointive personnel shall be given reasonable per diems/ honorarium for actual attendance in board and committee meetings, and actual performance of their duties and responsibilities;

9.2               During the regular annual general assembly, the Board of Directors may propose to the General Assembly for the approval of increase in rate of per diems/ honorarium and/ or monthly salaries, as the case may be, for the BOD , Committees and Appointed Personnel;

9.3               The schedule of Honoraria for the Committee Members and appointive Cooperative Officers will be as follows:

 

                                                                       

            Board of Director Chairperson      :           800.00/ month

            Board Members                         :           300.00/ month

            Credit Cooperative Chairperson    :           300.00/ month

            Credit Committee Members        :           220.00/ month

            Audit Committee Chairman         :           300.00/ month

            Audit Committee Members         :           220.00/ month

            Election Committee Chair           :           400.00 per year

            Election Committee Members     :           300.00 per year

            Secretary                                  :           300.00/ month

            Treasurer                                   :           700.00/ month

            Business Manager                     :           300.00/ month

            Liaison Officer                            :           300.00/ month

 

 

Policy 10:         Settlement of Disputes:

10.1      Dispute arising from Among Individual Members:

a.       Any dispute arising among individual members which has relation to the coop, shall be referred to arbitration of three (3) members, one shall come from the BOD as designated and two shall be nominated by each of the parties concerned, and;

b.       The award of the arbitrators may be appealed to the BOD or to the General Assembly within 15 days from date of notice.

 

10.2      Dispute Arising from Committees:

a.       Any coop related disputes arising from among Board Members officers, committee members, board to committee members, vice versa, committee to committee and vice versa, shall be referred to arbitration of (3) members, one shall come from the Federation of Unions of which the coop is a member, if any, or the Federation of Cooperatives, and two, to be nominated by each of the parties concerned;

b.       The award of the arbitration may be appealed to the General Assembly or to the CDA within 15 days from the date of notice;

 

10.3      Disputes arising from Among Management staff and personnel:

a.          Any dispute arising among management staff and personnel shall be referred to arbitration of (3) members, one shall come from the Board of Directors as designated and two shall be nominated by each of the parties concerned;

b.          The award of the arbitration may be appealed to the Board of Directors within 15 days from the date of notice.

 

10.4      Violation and/ or Non-Compliance on the Award of the Arbitrators, or the Board of Directors, or the General Assembly, or the CDA, shall be subject to disciplinary action and/ or dismissal from the cooperative.

 

 

 

 

III. EDUCATION POLICY

 

 

Objective:

This Education training and Information Policy is being prepared for the purpose of providing all members of the TESDA-IX-MPC the opportunity of learning the basic knowledge on how cooperatives are operated and managed, the duties and responsibilities of the members and officials, cooperative values and principles to be inculcated by each member, and how the members can contribute to the growth of the cooperative movement for community and nation building.

 

POLICY 1 : Responsibility

 

It is the duty of the Vice-Chairman to:

  1. Oversee the implementation of the Education and Information Program of the TESDA-IX MPC, to make sure that all members have undergone the Pre-Membership Education Seminar (PMES)   before they are accepted as full pledged members of the Coop. Only members who are certified by the Vice-Chairman and the manager will be recommended for board’s approval and acceptance as full pledged member of the Coop.
  2. The EdCom Chairman is empowered to appoint the member of the Training Staff from Coop’s officers and members who are competent and knowledgeable in the overall aspects of the cooperative operation and management.
  3. The EdCom is responsible in the information drive to the members as to operation of the Coop.

 

 

            The Annual Operational Budget of the committee shall be prepared by the chairman to ensure the success of the education and Training Program of the Coop.

            The honoraria of the resource speaker shall be taken from the Educational Training & Information Fund.

 

 

POLICY 2:        Scope of education Seminar Program

 

 

1.       Pre-Membership Education Seminar (PMES) 

This seminar is mandatory to all new applicants for membership with the TESDA-IX MPC.

      Regular quarterly seminar will be conducted at the discretion of the committee to be held at TESDA-IX Function Hall, at a certain date and time decided by the committee. However it may also conduct other out-of office seminars to prospective applicants

      A seminar fee of one hundred pesos (P 100.00) will be charged from each applicant to defray the expenses for snacks/ food and training materials during the seminar.

 

            The Topics for the PMES are the following:

a.       History of the Coop movement and that of the TESDA-IX-MPC.

b.       Values, principles, practices, progress and problems of cooperatives.

c.       Coop laws and legislations.

d.       Types of Cooperative

e.       Articles of Cooperation and By-Laws

f.         Office Procedures and Services

g.       Coop Policies

h.       Other matters directly related to the actual operation of the TESDA-IX MPC

 

 

2.       Ownership Seminar:

This seminar is intended for members who need to undergo re-orientation and for coop updates in which the topics are as follows:

a.       Coop values and principles

b.       Organizational structures/duties and responsibilities

c.       Office procedures and services

d.       Coop policies

e.       Saving Mobilization and Capital Build-Up

f.         Building a Cooperative community

g.       Others

 

 

3.       Staff and Officers Development Program

 

It will be the duty of:

            1. The General Manager to recommend to the EdCom any member of the management staff to undergo further educational training/ seminar/ workshop or conference which is related to his position description in order to update and enhance the skill in his particular field of work.

            2. The Board of Directors should recommend to the EdCom any officer(s) for further educational development to attend seminar related to his functions and field of responsibility.

            3. The Edcom must come up with a semi-annual leaflet/ flyer as information medium to the members for the update of the Coop’s operation.

 

 

 

IV. ELECTION POLICY

 

Objective:

            This Election Policy of the TESDA-IX MPC is prepared to ensure a smooth and orderly election so people who will run and manage the operation of the cooperative are qualified and competent.

 

POLICY  1:       Manner of Election

            The election of officers is open to all members in good standing. The casting of votes is by secret balloting.

            Prospected members for office as pre determined by the Election Committee, shall be notified by the Committee fifteen days before the General Assembly. A prospected member who is interested may signify the position he desires to run, and for those not interested to run for the office may notify the Election Committee at least 3 days before the General Assembly.     

            In case a number of eligible prospected members were not interested or there is insufficient number of candidates who accepted to run for the position, during the General Assembly, the floor nomination is allowed for the vacant seat. Only those members certified by the Election Committee as MIGS may be nominated. Candidates not present during the election time is automatically disqualified.

 

POLICY 2:        Qualifications:

1. Must be a member in good standing.

2. Not delinquent in the payment of his/her obligations with the coop. (No 3   month old accounts).

3. With good moral character.

4. Had not been elected to the position of Director for three (3) consecutive terms.

5. Must be an active member of TESDA-IX MPC for at least two (2) years.

6. Must Have at least minimum fixed deposit (capital share) for P5000.

 

POLICY 3:        Manner of Voting:

            1.   Voting is by secret balloting.

2.   Only  family  name of the candidate  will be written on the ballot except when  there  are two or  more candidates   with same family name in which case the given name must be indicated. Nicknames are not allowed.

4.       Markings of whatever kind placed on the ballot is prohibited and vote cast shall be invalidated. Cumulative voting is not allowed.

 

POLICY 4:        Canvassing of Votes:

            1.   Will be conducted by the Election Committee.  

2.  EleCom shall declare and proclaim the winners immediately, however incase of a tie, multiple tie, it will be resolved by raffle.

 

 

POLICY 5:        Election Protest:

            Protest shall be made before or after the election. It shall be resolved by the EleCom upon receipt of a written complain within forty eight hours (48) after the election. Final decision shall be made ten (10) days from the receipt of the complain.

 

POLICY 6:        Election Prohibition:

            Coop employee shall be strictly prohibited from electioneering. Any violation to this prohibition, administrative sanction shall be imposed.

 

POLICY 7:        Election Materials

            Coop management shall provide enough ballots, ballot boxes writing paraphernalia and shall provide assistance to the EleCom as election tabulators.

            All election materials shall be preserved for at least thirty (30) days after the election, after which it shall be disposed until all election protest has been settled.

 

 

 

V. SAVING DEPOSIT POLICIES

 

Objectives:

            These policies on Saving Deposits of  TESDA-IX MPC Mini-Bank are based from Article VI of the Cooperative code and Article II, objective and purpose of the Articles of Cooperation, that is to encourage thrift and saving mobilization among members for capital formation.

 

POLICY 1:        Deposits:

           

1.  Any regular or associate member of TESDA-IX MPC may open a savings deposit account with the Cooperative.

           

2.       All deposits may be  made over the counter or by deduction from the member’s monthly salary. The minimum maintaining balance for savings deposit shall be fifty pesos (P50.00).

           

3.       Saving accounts below the approved minimum maintaining balance for savings deposit shall be charged a monthly service fee of fifty pesos (P10.00).

 

4. The TESDA-IX MPC Mini-Bank reserves the right at any time to refuse or to accept deposits.

 

POLICY 2:        Withdrawals:

1.  All withdrawals must be made by the depositor personally or though his authorized representative whose signature is duly authenticated by the depositor on a withdrawal slip.

 

2.       No depositor is allowed to withdraw in excess of the maintaining balance as approved by the board nor an amount less than one peso except when an account is closed.

 

 

POLICY 3:        Interest:

                  Interest will be computed on Average Daily Balance (ADB) as approved by the Board without withholding, tax and credited to the saving accounts at the end of every quarter, deposits will earn an interest of 5% per annum.

 

POLICY 4:        Dormant Accounts:

      The Coop, shall notify depositors whose accounts have not moved for at least one (1) year. If no action is made one month after the notice has been served, the said accounts shall be declared by the coop dormant.

       A maintenance fee of ten pesos (P10.00) shall be charged to all dormant accounts.

 

 

POLICY 5:        Closing of Accounts:

                Accounts closed less than a year from date of opening shall be charged twenty pesos (P20.00).

 

POLICY 6:        Saving Time Deposits:

 

1. Saving time deposit is opened to regular or associate member of the   cooperative.

 

2.       A minimum deposit of one thousand pesos (P1000.00) shall be required to open a time deposit account.

 

3.       Time deposit shall earn the following interest rate per annum based on the amount and maturity of the deposit.

 

Term                Interest

1 mo.               6.5%

3 mos.              7%

6 mos.              8%

1 yr.                 10%

           

4.       Time deposit pre-terminated or withdrawn before the maturity period shall bear an interest rate of an ordinary saving account. If upon maturity, the depositor does not update his accounts, the account shall continue to have an interest rate appreciable to an ordinary saving account.

 

 

VI. CREDIT POLICY

 

Objective:

 

            This Credit Policies of TESDA-IX MPC is prepared to ensure smooth processing of Loans to its members, as one of its major services to its members.

 

 

POLICY 1:        Loan Application and Purpose

 

 

            Loan may be granted to Coop Regular and Associate Members who are in good standing (MIGS) either for Productive or Provident purposes. The loan must not be a burden to the borrower.

           

The purpose of the loan must be specifically stated in the Loan Application Form. The loan Application Form shall be filled up properly by the Coop member borrower.

 

 

POLICY 2:        Eligibility Requirements for the Loan Applicants

 

 

            REGULAR MEMBER:

 

A.        The borrower and co-maker, must be coop members in good

standing:

   

1. Has attended the Pre-membership Education Seminar (PMES);

2. Pays his obligations to the Coop regularly;

3.  Pays his monthly dues for his subscribed Paid-up Capital share;

4. Patronizes regularly the services of the coop;

5.    Has not violated any provisions of the coop’s by-laws,  Article of the   Cooperation and Policies;

6.    Participates in the Savings and Capital-Build up scheme of the cooperative.

 

B.        The borrower and co-maker must have a net take  home pay of  One  Thousand Pesos  (P1000.00) after loan computation;

 

C.        The borrower and co-maker must have a Paid-up Capital Share of Five Thousand Pesos (P5,000.00) on the date of loan application and must submit latest Pay Slip;

 

ASSOCIATE MEMBER

 

A. The borrower and co-maker, must be an associate coop members in good standing:

   

1. Has attended the Pre-membership Education Seminar (PMES);

2.  Pays his obligations to the Coop regularly;

3. Pays his monthly dues for his subscribed Paid-up Capital share; if in the case that he has stopped paying his monthly dues for his subscribed paid-up capital and has accumulated arrears, he shall not be allowed to avail of loans, until such time that he has paid the arrears, and can only apply for loan after 3 months with continuous payment of his fixed deposit.

4.   Patronizes regularly the services of the coop;

5.       Has not violated any provisions of the coop’s by-laws, 

Article of the   Cooperation and Policies;

6.       Participates in the Saving and Capital-Build up scheme of the cooperative.

 

B. The borrower and co-maker must have a net take  home pay of  Two  Thousand Pesos  (P2000.00) after loan computation and must submit latest Pay Slip duly signed by the accountant  or institution’s head where the borrower is working;

 

C. The borrower and co-maker must have a Paid-up Capital Share of Five Thousand Pesos (P2,000.00) on the date of loan application;

 

D. Only a Multi-Purpose Loan with a ceiling amount of 10,000.00 can be granted to the associate member borrower; He/She may avail of the Regular loan if his/her fixed deposit had reach 2,000.00. In cases were the associate member is already qualified for regular loan, the MPL and regular loans cannot be availed simultaneously, only one kind of loan may be granted, and only after full payment of the previous loan, if any.

 

 

POLICY 3:        Basis in the Processing of Loan

                 

A.   Borrower’s Need - The borrower’s need is to be taken into account he must fully and specifically state his/her purpose for the loan applied.

 

               B. Borrower’s Paying Capacity - The borrower must have the  capacity to pay the loan.

 

C. Personal Interest – The borrower’s interest must be at the advantage   of the coop’s undertakings and activities.

 

 

POLICY 4:        Kinds of Loans and Services

 

A. Regular/Productive Loan –   A loan granted to member borrowers  intended  for  productive business venture or to finance activities that would help augment income of the members.

 

      1. Can be availed one (1) year after or fifty percent (50%) after regularly paying the monthly loan amortization;

 

2.       Maximum amount of loan will be based on total paid-up capital share  x 150% , less the following:.

2.1        Previous Balance

2.2        Retention Fee of 2% based on Gross Amount granted

2.3        Service Fee of  P1.00 per Thousand of  Amount Granted

2.4        Filing Fee of  Twenty Pesos (P20.00)

2.5        Insurance  of  P9.75 per Thousand. (Loans insured per annum, computation is based on the remaining balance of the loan)

 

3.       Loan Interest will be at 1.5% monthly diminishing computation.

 

4.       Loan is payable for a Maximum of Four (4) Years depending on the loan amount bracket:

 

4.1  P1,000 to 30,000.00      - 18 months

4.2  P31,000 to 60,000.00     - 30 months

4.3  P61,000 to 90,000.00     - 36 months

4.4  91,000 and up               - 48 months    

 

 

B.         Land Bank Loan -  this is a loan assistance granted to member borrowers for productive purposes.  This can be used for any business endeavor or investment to augment members income.

 

B.1.1    May be availed after having regularly paid his monthly dues and paid-up capital share for at least 6 months;

 

B.1.2    Maximum of  Thirty Thousand Pesos (P30,000.00) payable in 10 months with an interest rate of 17% per annum, straight line computation less the following:

                     Previous Balance

                     Service Fee of one (1) peso per   thousand

                     Filing Fee of  P20.00

                     Insurance of  P9.75 per Thousand

 

B.1.3    Renewable after paying P50% of the gross amount granted:

 

C. Educational Loan – this loan is to enable the members to cover     expenses for school obligations such as tuition fees, schools supplies and other miscellaneous expenses for their family members. Loan interest at 2% straight line, payable in 6 months. The loanable amount is 6,000.00 less the following:

                     Previous Balance

                     Service Fee of one (1) peso per   thousand

                     Filing Fee of  P20.00

 

     D. Multi-Purpose Loan – this loan is intended for Associate member borrowers only of the Cooperative . The Loan is available to a ceiling of 10,000.00 payable in 12 months, and may be renewed after paying at least 50% of its principal cost. Loan interest at 2% straight line. The said loanable amount shall be subject to the following deductions:

                     Previous Balance

                     Service Fee of one (1) peso per   thousand

                     Filing Fee of  P20.00

 

     E.  Rice Loan -   this loan is intended to all members who wish to avail of the supply of rice, payable within one (1) month, subject to availability of stocks, loan interest at 1.5%.

 

F.  Short Term Loan (only for all receivables within 2 months time) – Buying of bonus, salary and other incentives or receivables up to 50% its estimated value, interest to be deducted in advance. Loan interest is at 2% straight line. This loan may be availed upon submission of a request letter addressed to the CreCom along with a promissory note and an authority to deduct/collect of his/her receivables.

 

G.        Petty Cash Loan – is a loan which is immediate in nature. The maximum amount for petty cash loan is Four Thousand Pesos (P4,000.00) only, payable in Five (5) Months. Loan interest at 1.5% straight line. The loanable amount shall be subject to the following deductions:

                     Previous Balance

                     Service Fee of one (1) peso per   thousand

                     Filing Fee of  P20.00

 

H.         Encashment of Checks- Checks may be encashed with the cooperative up to P10,000.00 with service of 1% its value per transaction. (Alloted amount for check encashment = P20,000.00, subject for replenishment)

 

POLICY 5:  Fund Availability

                  Release of loan amount is dependent upon the availability of funds of the cooperative

 

POLICY 6:  Functions of the Credit Committee (CreCom)

                 

                  A.   Composition – composed of three (3) members elected during the Annual General Membership Assembly meeting.

                 

                  B.   Functions – the CreCom shall act, process all loan applications, subject to the rules, regulation and the lending policy of the coop. It shall strive hard in close coordination with management to collect immediately after one (1) month loans that have been past due. The committee shall render monthly written report to the Board and to attend the meeting when requested.

 

            C.   Meeting – the members of the CreCom shall meet for the purpose of processing approving or disapproving loan applications.

 

D.      Loan Action – it shall be the duty of the CreCom to act on every loan application. They must coordinate for processing and make sure that all loan requirements are duly complied with.

 

POLICY 7:  Surcharges:

 

            A member who failed to pay his monthly loan amortization shall pay a surcharge fee of one percent (1%) a month of the amount in default. If default continues for two (2) months, such member shall be suspended and the loan balance become due and demandable. Upon maturity of the loan, any unpaid balance shall earn an additional interest as fine of two (2%) per month.

 

                 

POLICY 8: Collateral

            A member-borrower who is no longer qualified to apply for loan as determined by the Credit Committee, may apply for loan upon  surrender as collateral any of the following, subject for proper appraisal:

 

                        1. For Loans amounting up to 10,000.00, Official Registration Papers of a Legally Owned Motor Vehicle in good acceptable condition.                            2. For Loans amounting from 10,001.00 and above, A clean  Official Land Title , with minimum appraised value of not less than P50,000.00, bearing the borrower’s name, and is located within region IX. The value of loan will be determined by the Crecom and must not exceed 60% of the appraised value of the Lot. This shall be accompanied by a Pre-signed Deed of Sale, and the loan amount shall be subject to the following deductions:

                     Previous Balance, if any

                     Service Fee of one (1) peso per   thousand

                     Filing Fee of  P20.00

 

                  The Loan is payable within 6 months with loan interest  computed at 2% straight line.

 

POLICY 9:  Co-Maker (for LBP, Regular and MPL Applicants)

                  A.   Only members in good standing can act as co-maker;

                  B.   A member can act as co-maker for only one loan to the extend of his/her capital share investment.

                  C.   Husband and wife cannot act as co-maker to each other.

                  D.   The member-borrower and co-maker are jointly and severally liable for the loan borrowed and other accounts related there to.

                  E.   If a loan guaranteed by the co-maker is delinquent, the co-maker shall not be granted a loan more than his capital share investment.

                  F.   A co-maker is under obligation to check whether the loan guaranteed was used for the purpose it was borrowed.

                  G.   A co-maker shall not be allowed to terminate his membership if the loan guaranteed by him is delinquent and if the amount still exceeds the borrower’s deposits in the coop.

                  H.   A co-maker is not necessary for the loan equal or less than the member’s capital share investment. A loan with a collateral (real estate) does not need a co-maker.

                  I.    Time deposit may be accepted as additional collateral with the consent of the borrower to hold-out his time deposit an equivalent amount to augment his share capital and cannot be withdrawn while the loan is still in force.

 

POLICY 10: Term of Payment

 

                  The credit committee shall carefully determine the most appropriate period/ term of loan payment with the consideration as to convenience of both co-maker, member-borrower and the cooperative as well, but in no case exceeding one (1) year for relending.

 

 

POLICY 11: Promissory Note

                  1. Every loan shall be secured by a promissory note duly signed by the borrower and co-maker.

                  2.   The TESDA-IX MPC shall have an absolute lien on the deposits and interests due thereon of any member to the extend of any loan made of secure by him and all other charges that are due to the cooperative.

 

 

POLICY 12: Loan Delinquency:

 

            Delinquency occurs when a member-borrower failed to pay the whole or total amount of his/her loan after due date. Loan delinquencies are dealt with as follows:

                  A. A letter of reminder is sent to the delinquent member-borrower informing him/her that the loan is already overdue and that he is requested to submit an explanation letter addressed to the Credit Committee Chairman.

                  B.   When a member-borrower failed to submit a letter of explanation, a second or third letter is sent to him/her. The co-maker is also informed by letter of the delinquency of the member-borrower.

                  C.   When a member-borrower failed to pay his/her past due loan obligations, after 3 demand letters, he/she is given three (3) options for consideration:

1.   Restructuring of his delinquent loan

2.   For closure of the collateral, if any

3.   Offsetting of accounts (up to 50% of his fixed deposit)

 

                  D. Members who opted to Offsetting of Accounts shall not be allowed to re-loan in any loan windows until he/she has paid the remaining  balance after offsetting.

                 

                  E.  For restructuring of loans, matured loans with unpaid balance balance may be restructured  after three (3) months of delinquency and to renew same in the following manner. Payment of all incidental fees, amount of interest overdue, service charge fee and fine, may be waived at the discretion of the BOD. The restructured loan is payable within one (1) year.

 

POLICY 13: Acceptance, Processing and Release of Loan

 

                  Acceptance of loans shall be every Monday and Wednesday, with cut-off timr of 3pm, loan applications submitted beyond 3 pm shall be considered on the next processing day, except for extreme cases.

                 Release of loans will be every Tuesday and Thursday.  Only checks below P10,000 may be encashed by the COOP treasurer,P10,001.00 & above is to be encashed at Land Bank of the Philippines, Veterans Avenue, Zamboanga City.

 

POLICY 14:       Loan Retention / Capital-Build up:

 

            An automatic two percent (2%) retention will be made on Regular  loans as capital-build up per Article IV, section 2 – c  of the  COOP’s By-laws.

 

POLICY 15:    Renewal of Loans:

 

            A member-borrower may renew his loan provided fifty percent 50% of the loan amount has been paid. The balance of the loan shall be deducted from the current loan.

            For those who opted for offsetting, they may re-loan after one (1) year  and if his loan  is already 50% paid of  his/her  loan balance after offsetting.

 

POLICY 16:    Appeal Cause:

 

            A member-borrower whose loan privilege has been suspended may appeal before the board by filing his complaint in writing for proper investigation and whose decision is final executory.         

 

 

 

 

VII. PERSONNEL POLICY

 

Objectives:

      Personnel Policies were adopted to create guidelines for hired personnel in the cooperative. To attain an effective and harmonious working relationship/ condition among workers and management.

 

 

POLICY !:         Responsibility:

 

      It will be the duty of the manager to make sure that all the provisions contained in this manual are properly implemented. Any violation there of shall be properly dealt with in accordance with the Code of Ethics. The Board shall be informed immediately on any matter of personnel importance.

 

POLICY 2:        Hiring and Firing:

 

      The General Manager is authorized to fire and hire personnel under his responsibility / jurisdiction.

POLICY 3:        Compensation:

 

      The compensation of the manager shall be determined and approved by the BOD, provided within the provision of labor law, based on their accomplishment in conformity with labor code.

 

 

POLICY 4:        Overtime Work:

 

      Shall not be tolerated to workers when certain job will cause injury and damage to the cooperative. If left unfinished, any worker shall seek prior approval from the General Manager for overtime work as the need calls for.

 

POLICY 5:        Overtime Pay:

 

      Shall be computed in accordance with the provision of the labor code.

 

POLICY 6:        Discharged of Discipline:

 

      Work related violations are under the jurisdiction of the general manager to take action. Non worker related offenses shall be the responsibility of the BOD to discipline offenders. Based on the recommendation of the ArbiCom.

 

POLICY 7:        Cash Advances:

 

      Personal cash advances are strictly prohibited. In the event that the employee is on official travel representing the cooperative, cash advances may be allowed provided that the amount is to be deducted from her salary.

 

POLICY 8:        Salary Scale:

 

      The Board on the basis of the Merit Performance System may grant salary increases to hired employees from time to time, subject upon the Coop’s financial condition and availability of funds. The increase shall take-off from the latest existing employees’ monthly salary as of 2002 which will continue onward until the maximum salary ceiling shall have been reached to wit;

 

      Position                              Monthly Salary Ceiling

      Manager                              P 7,000.00

      Bookkeeper                             6,000.00

      Cashier/Teller                          5,000.00

     

      A newly hired employee will start with a salary of one hundred pesos (100.00) per day under a probationary period of 6 months.

      The above-stated positions are the available positions for hiring personnel outside the cooperative. In cases were an organic employee of TESDA-IX is assuming the position, only applicable honoraria as approved by the BOD and the General Assembly will be provided.

      Hiring of the above-position for the cooperative is mainly dependent on the availability of funds, and as per recommendation by the BOD through a board resolution.

 

 

 

POLICY 9:        Allowance:

 

      The hired personnel of the cooperative shall enjoy a monthly allowance of not more than One Thousand Pesos (1,000.00), to serve as their Cost-of-Living Allowance.

 

POLICY 10:       Promotion:

      Promotion shall be determined in accordance with the following criteria:

1.     Technical preparation for the position in accordance with the established qualifications and performance in the position actually occupied.

2.     Education and/or specialized preparation consistent with the qualifications/ requirements of the position.

3.     Character, personality, attitude, morality, loyalty, integrity, honesty and potentialities of the employee.

 

POLICY 11:       Leave Benefits:

1. Sick Leave- All regular employees shall be granted three (3) working days sick leave with pay for every year of continuous service rendered.

a. a sick leave shall start to accumulate only at the time an employee is extended a permanent appointment.

b. sick leave shall not occur during period of suspension or when on leave without pay.

c. application for sick leave requiring an absence of more than three (3) days should be accompanied by a medical certificated from a competent physician.

2.  Maternity Leave- All female employees on the family way shall be allowed maternity leave in accordance with the law.

3. Emergency Leave- Any regular employee shall be allowed emergency leave which shall be non-cumulative. It will be a maximum of three (3) days each year in case of death of any of the employees immediate members of his family (parents, spouse and children) and three(3) days in case o paternity (married male employee whose wife delivers a baby) or if natural calamity affecting the employee’s residence. In no case will the employee avail of the emergency leave of more than three (3) days each year.

 

POLICY 12:       Bonus and Other Allowances:

 

1. Christmas Bonus- provided that the coop makes a profit, the Board may grant to regular employee a Christmas Bonus in an amount equivalent no less than10% of the basic monthly salary.

2. Funeral Assistance- In case of the death of a regular employee, the coop shall grant to the surviving legal heir of the deceased employee bereavement assistance in the amount of P5, 000.00.

3. Loyalty Pay- In recognition of his/her unselfish dedication, devotion and loyalty to the coop, a loyalty pay will be granted in the amount of three hundred pesos (P300.00) to each employee for every five year of service rendered irrespective of ranks.

4. Retirement Benefit- Shall be paid to all regular employees in accordance with the provisions of the Labor Code.

5. Others

a. Regular employees shall be covered under the Social Security System (SSS) and Phil. Health Program.

 b. Coop secretary must keep a profile of each employee.

 

 

 

 

 

 

 

 

 

PROMULGATION & EFFECTIVITY

 

Pursuant to Board Resolution No. 11 series 2005 adopted July 20, 2005, the Board approve these Coop policies on education, membership, election Saving deposits, lending and personnel as amended for immediate implementation. Resolutions, polices, rules, regulations and other issuances which are contradictory to these amended polices are hereby repealed or superseded.

 

 

                        Certified by:

                                                                                                                                                            ELLEANOR C. ANTONIO

                                                            Secretary

 

 

 

Attested by  THE BOARD OF DIRECTORS:

 

 

MARISA T. TOSE                      NELLY H. MACAPILI

                        Member                                      Member

 

 

 

 

  JOCELYN C. WEE                     RAYMUNDO J. ROJAS

                        Member                                       Member

 

 

 

 

ENGR. ADRIAN B. AMPONG

Chairman

 

 

 

 

 

The TESDA-IX Multi-Purpose Cooperative Committees and Officers

CY-2005

 

 

Paul C. Saavedra

Manager

 

Juliet S. Cabugnason

Cashier

 

Credit Committee

 

            Rodolfo M. Bicasan                                      Joy  A. Tariga

 

Malou B. Olayan

Chairperson

 

Audit & Supv’ry Committee              

 

            Annalie T. Campos                                 Narriman S. Bakaun

 

Eva C. Sanchez

Chairperson

 

Election Committee

 

            Gandih J. Uddin                                      Liza C. Babaran          

 

 

Benjamin B. Fernandez

Chairperson

 

 

 

 

 

 

 

PHILOSOPHY

 

 

We believe in the cooperative values of self-help, self-responsibility, democracy, equality, equity and solidarity among the members of the cooperative, and in the ethical values of honesty, openness, social responsibility and caring for others.

 

 

 

 

 

VISION

 

 

The TESDA-IX Multi-Purpose Cooperative, working in harmony with local cooperatives towards self-sufficiency and manage a sustainable socio-economic development of the members, enjoying improved quality of life through the spirit of cooperativism.

 

 

 

 

 

MISSION

 

 

To create projects and  make investments for the benefit of the cooperative members providing them with quality services and assistance, encourage thrift and inculcating in them the values of cooperativism,  making them socially, morally and financially stable members of the community.

   

Do you have any questions? Send us an e-mail at:

info@ourcompany.com

TESDA-IX, Multi-Purpose Cooperative

San Roque, Zamboanga City 7000

+639921287, tesda9mpc@yahoo.com