Share Capital

The Share Capital of a member is equivalent to his/her investment in the Cooperative where as a shareholder he/she gains a share in the business of the Cooperative. Bansalan Coop has a standard par value of P100.00 per share. REGULAR members of the Cooperative will enjoy the benefit of net surplus distribution after each accounting period. Please refer to dividend distribution below.

• Dividend distribution:
  To be paid at the end of each accounting period (when management closes the book).
  b. No dividends are paid on the shares until the capital to assets ratio (Institutional Capital) has reached the PEARLS goal of 10%.
  c. Dividends of members with delinquent accounts of over 12 months shall be credited as payment of his loan installment

Interested would be members of the Cooperative must undergo Pre-Membership Education Seminar(PMES) so that he/she will be more informed about the Cooperative. It is a requirement before becoming a member of the coop.

 

Type of Membership according to Share Capital Deposit:

• Associate Membership
  • A member is tagged an ASSOCIATE member when he/she has less than P2,000.00 initial paid-up capital in the Cooperative.
  • Has undergone basic orientation about the Cooperative.
  • Has No right to neither vote nor be voted upon.
  • An Associate Member who meets requirements for regular membership and
    continues to patronize for 2 years and signifies her intention to remain a
    member shall be considered a regular member
  • An associate member may avail savings and insurance products of the Cooperative except loans.
• Regular Membership
  • A member is considered a REGULAR member when he/she has an initial paid- up capital of 20 shares with P100.00/share equivalent to P2,000.00.
  • Open a regular savings account with a minimum opening amount of P100.00.
  • Has paid P525.00 for enrolment in the Mutual Death Aid System (MUDAS)
  • Paid up one time membership fee of P200.00
  • As per by-laws “have paid up 80 shares with P100.00/share
  • Management may advertise anticipated rate to be paid on these accounts based on the rate that was paid at the end of the past accounting periods.
  • Share capital savings are not withdrawable. Upon termination of membership, provisions stipulated under the approved By Laws for terminated members apply.
  • Members may use their Share Capital Savings to secure loans. Deposits used to secure a loan may not be withdrawn while the loan is outstanding.