Qualification for Membership

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The prospective member should:

posses a common bond of association

reside, work, or have business and other interests in the area of operation

pledge to undertake the responsibilities of membership

complete the prescribed pre-membership cooperative education seminar

avail or anticipate to avail of services of the Cooperative

 

Classification of Membership

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(A)  Member In Good Standing (MIGS) A member in good standing is one who saves, borrows and pays loan regularly including the required contributions, i.e. annual dues, MDABF, and such other dues which may be fixed by the Board of Directors from time to time.  Members in good standing are categorized as follow:

(1) Platinum Member Years of Membership : At least 5 years Share Capital : Minimum of Php 20,000.00 Daily Maintaining Balance on Savings and/or Time Deposit : Minimum of Php 10,000.00 Quarterly Deposit : Php 2,000.00 Pays loan amortizations on or before the due date (2) Gold Member Years of Membership : At least 4 years Share Capital : Minimum of Php 15,000.00 Daily Maintaining Balance on Savings and/or Time Deposit : Minimum of Php 7,000.00 Quarterly Deposit : Php 1,500.00 Pays loan amortizations on or before the due date (3) Silver Member Years of Membership : At least 3 years Share Capital : Minimum of Php 10,000.00 Daily Maintaining Balance on Savings and/or Time Deposit : Minimum of Php 5,000.00 Quarterly Deposit : Php 1,000.00 Pays loan amortizations on or before the due date (4) Bronze Member Years of Membership : At least 2 years Share Capital : Minimum of Php 5,000.00 Daily Maintaining Balance on Savings and/or Time Deposit : Minimum of Php 2,000.00 Quarterly Deposit : Php 500.00 Pays loan amortizations on or before the due date (5) Nickel Member Years of Membership : At least 6 months Share Capital : Minimum of Php 1,000.00 Daily Maintaining Balance on Savings and/or Time Deposit : Minimum of Php 500.00 Quarterly Deposit : Must have business transaction   once every 3 months Pays loan amortizations on or before the due date

(B)  Member Not in Good Standing (Non-MIGS)      1. Those who do not have any business transaction within three (3) months      2. Those with loans fined 3. Those whose savings deposit falling below minimum of Php 500.00

(C)  New Member Has been a full-fledged member for less than six (6) months, share capital of at least Php 1,000.00, savings deposit of Php 500.00 daily maintaining balance, and with business transaction at least once every three (3) months

Termination of Membership

Membership in the Cooperative may be terminated either by withdrawal or by expulsion. The death of a member shall be considered an automatic withdrawal.

(a) Withdrawal

• Any member who desires to terminate his memberhship by withdrawal shall submit a written application to the Board of Directors. However, no member shall be allowed to withdraw or terminate his membership during the period in which he has any pending obligation with the Cooperative.
  

(b) Expulsion

• A member may be terminated by a vote of the majority of all the members of the Board of Directors for any of the following causes:
  
  1. When a member has not patronized the services of the cooperative for a reasonable period of time as may be fixed by the Board of Directors;
     
     
  2. When the member has continuously failed to comply with his obligations;
     
     
  3. When a member has acted in violation of the By-laws and the rules of the Cooperative;
     
     
  4. For any act or omission injurious or prejudicial to the interest or the welfare of the Cooperative, PROVIDED THAT, he shall be informed of such intended action in writing and shall be given the opportunity to be heard before the said Board makes its decisions. The decision of the Board shall be in writing and shall be delivered in person or by registered mail within thirty (30) days after the decision is promulgated. Said decision shall be appealable to the General Assembly whose decision therein, whether in a general or special session, shall be final. Pending the decision by the General Assembly, the membership remains in force.
     

How to join and be part of DCCCO Family

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(A) Regular Membership

Attendance in Pre-Membership Education Seminar (PMES). Pre-registration is required. Late comers are no longer accepted. PMES registration fee is PhP 100.00. Two (2)  pcs.  2” X 2” colored pictures (latest). Accomplished Membership Application Form for Regular Members (with signature of 2 DCCCO members in good standing (MIGS) as reference) Certified photocopy of any of the following (Original must be presented): Birth Certificate Marriage Contract SSS or GSIS or Company ID Driver’s License Passport Amount to be paid for membership to be approved:             For mere          admission         (Php 700.00)     For full-fledged         membership     (Php 2, 000.00) Share Capital                400.00         1, 000.00 Savings Deposit                  35.00             535.00 Membership Fee                100.00             100.00 Annual Due                  20.00               20.00 Passbooks (2)                  30.00               30.00 Plastic Cover                  15.00               15.00 Coop ID  / ATM Card                100.00             100.00 MDABF Contribution                200.00

(B) Associate Membership (18 years old and above)

1. Two (2)  pcs.  2” X 2” colored pictures (latest). 2. Accomplished Membership Application Form for Associate Membership. 3. Certified photocopy of any of the following: Birth Certificate                                                      Driver’s License Marriage Contract                                           Passport SSS or GSIS or Company ID             4.     Minimum required payment of PhP 725.

(C) Associate Membership (17 years old and below)

1. Two (2)  pcs.  2” X 2” colored pictures. 2. Accomplished Membership Application Form for Associate Membership. 3.  Certified photocopy of Birth Certificate (please present the Original) 4. Minimum required payment of  PhP 250.00