Coop

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  • Topic: Deposit account, Cooperative, Time deposit
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  • Published : November 30, 2012
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Cooperative Management

Submitted By:
Cherlyn Ohoy

Submitted To:
Ms. Crispina Corpuz

Date of Submission:
October 15, 2012
AMPC: “FOCCUS COOP”
Background of the Cooperative
  FOCCUS (Finance Organization achieving Certified Credit Union Standard) is a brand awarded to AMPC by the World Council of Credit Union based in the United States through CUES (Credit Union Empowerment and Strengthening) last 2003.   Being branded a “FOCCUS” coop is a stamp of class and a seal of guarantee of the members’ financial investment security, as well as, its excellent, efficient and quality service.

History of the cooperative
Founded in June 19, 1991 by  21 MARKET VENDORS in Agdao Public Market Contribution per pioneer member was P3,000 for a total Share Capital of P63,000 Old name was AGDAO MARKET VENDORS MULTI-PURPOSE COOPERATIVE (AMVMPC) Core values

A - Action-oriented      C - Competency
G - Generosity             O - Organized              D - Discipline                O - Open-mindedness A - Accountability         P - Perseverance
O - Optimism

The Mission and Vision
* MISSION
* To uplift the quality of life of its members through the provision of quality products and services; and continuous promotion of cooperativism. * VISION
* A dynamic, strong and sustainable cooperative in Mindanao, whose members are empowered and working together in a spirit of cooperation, social justice, equity and peace towards total human development. How to join

* Attend one hour free Pre-membership Educational Seminar (PMES) at any AMPC Office. Scheduled daily (morning and afternoon). * Fill-up Application Form for Membership and attached most recent photo ID. (1 pc. 1X1 and 1 pc. 2X2). * Submit photocopy of Birth Certificate or Marriage Contract. * Pay the required amount of Membership Contribution.

The Products and Services Offered
* PRODUCTS
* SAVINGS DEPOSIT (Earns 4.5% per annum)
* YOUTH SAVINGS (1 month old to 17 years old)
* REGULAR SAVINGS (18 years old and above)
TIME DEPOSIT|
Regular Time Deposit|
RANGE OF AMOUNTS| Months|
| 3| 6 | 9 | 12| 3 YEARS (net of tax)|
10,000 – 20,000| 5%| 6%| 7%| 8%| 8%|
20,001 – 50,000| 6%| 7%| 8%| 9%| 9%|
50,001 – 100,000| 7%| 8%| 9%| 10%| 10%|
100,001 – 400,000| 8%| 9%| 10%| 11%| 11%|
400,001 – 900,000| 9%| 10%| 11%| 12%| 12%|
900,001 & ABOVE| 10%| 11%| 12%| 13%| 13%|
| | .| | | |
| |
| |

* TERMS:
Three to 12 months period are subject to tax.
Three years period are withdrawable only upon maturity and tax free. Rates are subject to change without prior notice.
* Special Time Deposit
TERM: P1,000 - 9,999  has 6% interest per annum.
SHARE CAPITAL
Minimum share is P1,000
Minimum of 10% interest per annum (dividends)
Not withdrawable.
* LOAN PRODUCTS
1. Capacity-based(max of P500,000.00)
2. Providential
3. Agricultural
4. Commercial
5. Real Estate
Interest rate of 3% per month based on diminishing balance or 1.623% per month effective rate. Affordable repayment terms: 12-24 months. Emergency Loan -Based on Share Capital (max of P5,000.00).
* MORTUARY AID TRUST FUND
P15 contribution per Regular Member.
P5 contribution per Associate Member.
Pro-rated contribution for less than a year member.
* SERVICES
1. BOTIKA NG KOOPERATIBA
* Gamot na Mura, Epektibo Pa
2. LIFE INSURANCE
* Group Life and Accident with Fire Insurance (GLAFI) Annual Premium P250. * GADDI-Annual Premium - P230: Benefit P20,000.
* Coop AKSI Plan - Annual Premium - P100: Benefir P20,000. * Keyman Accident Protector Plan for as low as P1,800 per annum with P1,000,000 coverage. * AMPC Family Insurance - Annual Premium P150.

3. NON-LIFE INSURANCE
* Fire Insurance Cash Assistance (FICA)
* Home Protek500; Annual Premium of P500 pesos.
* Home Assure for as low as P1,905 Annual Premium.
*...
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