LOANS



Policies

   REGULAR LOAN (Productive or Provident)
    – a loan generally granted to member based on the Share Capital or deposit regardless of purpose or source income. The loanable amount however, shall be subject to the credit worthiness of the borrower. Loan Policy Form pdf
   SALARY LOAN (Productive of Provident)
    - a loan usually granted to employed borrower of which payment is thru automatic salary deduction (MOA or Authority to deduct) or thru ATM card. Loan Policy Form pdf
   ALLOTMENT or PENSION LOAN (Productive or Provident)
    - a loan granted to pensioners (retirees) or beneficiaries of OFW receiving regular monthly pension or allotment and paid thru ATM card.
Note: ATM card are not considered as collateral, it is a facility of payment. Loan Policy Form pdf
   MICRO FINANCE LOAN (Productive)
    – a loan for sari-sari store owners, Habal-habal, Pedicab, MCH, PUJ drivers or operators or persons engage in informal livelihood (home made products). Usually repayment are on a daily or weekly basis. Loan Policy Form pdf
   COMMERCIAL OR BUSINESS LOAN (Productive)
    – usually granted to borrowers engage in business either as additional working or start-up capital. It could also be used to expand business or open new branches or outlet. Loan Policy Form pdf
   VEHICLE LOAN FINANCING (Provident)
    – a loan designed specifically for acquisition of brand new or reconditioned vehicle either for commercial or personal purpose.
Loan Policy Form pdf
   HOUSING LOAN (Provident)
    – a loan specifically designed to for the following housing needs:
    1.House repair or renovation
    2.House construction
    3.House and lot purchase
    4.Lot purchase for residential purpose
   Loan Policy Form pdf
   REAL ESTATE LOAN (Provident)
    – a loan designed specifically for acquisition of brand new or reconditioned vehicle either for commercial or personal purpose.
Loan Policy Form pdf
   AGRI-AQUA LOAN (Productive)
    – a loan designed to cater to the need of members engage in livestock, agricultural or aqua-culture production.
Loan Policy Form pdf
   INDUSTRIAL LOAN (Productive)
    – a loan specifically designed to finance acquisition of equipment or machineries, construction of buildings or facilities for industrial or production purposes.
Loan Policy Form pdf
   OVER-THE-COUNTER (OTC) or INSTANT LOAN
    – a specifically designed loan intended for the following members need:
a. Emergency loan or Pretty Cash- a short term character loan usually granted as emergency need; an add-on loan on top of an existing loan based on the following conditions:
1 Existing loan is updated and had already been paid equivalent to at least three (3) installment, with no penalties or arrears;
2 Loanable amount shall be equivalent to the amount paid on the principal but in no case shall exceed to P5, 000.00
b. Back to Back loan- a loan granted equal to a less than the amount of Share Capital or a combination of total deposits of a member (Share Capital + Savings + Time Deposit). Savings and Time Deposit shall be tagged as “holdover” or cannot be withdrawn until the loan is partially or fully paid.
Loan Policy Form pdf
   SPECIAL LOAN
    - a loan granted with special terms and conditions and shall require approval of the Board regardless of amount and purpose. (example: Employees Fringe Benefit Loan)
Loan Policy Form pdf
   PROVIDENT LOANS
    - loans granted for non-income generating purpose.
    a. Personal (Salary, Pension, Allotment, etc.)
    b. Educational
    c. Travel
    d. Memorial/Mortuary
    e. Medical
    f. Housing
    Loan Policy Form pdf
   PRODUCTIVE LOAN
    - loans granted for income generating purpose.
   a. Agricultural, Livestock, Aqua-culture
   b. Industrial
   c. Commercial or Business Loan
   d. Livelihood
   e. Microfinancing
   Loan Policy Form pdf