FREQUENTLY ASKED QUESTIONS
It is a cooperative duly established in 1985 by 74 individuals within the Diocese of Bangued spearheaded by the late Bishop Odilo Etspueler, SVD. It is classified as a large cooperative by the Cooperative Development Authority (CDA) and one of the largest cooperatives in Northern Luzon
Must attend the Pre-Membership Education Seminar (PMES)
- Any individual of legal age with capacity to contract
- Resident of any province in Luzon
- Good health condition
- Good Credit Background
- Filled-up Membership Application & Mortuary Aid Form
- 2 pcs. 2×2 colored ID picture
- 1 valid ID (photocopy)
Regular Member
A regular member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership as stated in the Cooperative Code and the cooperative by laws.
Associate Member
An associate member has no right to vote and be voted upon and is entitled only to such rights and privileges provided by the cooperative’s by laws.
- Tax-free Interest on deposits and investments
- Dividend / interest on share capital
- Affordable credit services
- Business and livelihood opportunities
- Mortuary Aid Benefit
- Patronage refund and Incentive Points
- Other privileges and Member-In-Good-Standing (MIGS) Incentives.
- Capital build-up of atleast Php 300.00 per
Share Capital is the member’s investment to ADTEMPCO. It cannot be withdrawn unless membership is terminated. Share capital may be used as a collateral or guarantee in availing loans.
Upon membership, a member is required a minimum share capital subscription of Php 5,000.00 wherein at least 25% or P 1,250.00 must be paid-up. As per By-Laws, the share capital limit of a member is P 3000,000.00.
Yes. An individual, joint, organization or company may open a regular savings or time deposit account.
Regular Savings is the member’s savings account with required maintaining balance of Php 1,000.00. Members must have at least P 500.00 regular deposit balance to earn interest.
Only ADTEMPCO members may avail loan products. Members are required to attend loan counseling before availing any loan product. This process is required to emphasize the responsibilities of a borrower and to ensure that the ideal loan package is given to the member. Detailed loan requirements is discussed during this process.
The Mortuary Aid Program aims to further enhance the spirit of cooperativism among the members through the provision of some financial assistance to all the members during the period of grief within the family.
The general principle of this program is to provide Hospitalization assistance to a Member in Good Standing that has bee hospitalized for more than 60 hours. To strengthen membership solidarity by providing financial assistance to members when afflicted by sickness.
After settling all loan balances and other outstanding liabilities, one has to formally write a letter addressed to the Board of Directors stating the reason/s of the termination. Thirty (30) days is the maximum period for the approval of the BOD, after which the management effects the termination by closing the member’s account.
ADTEMPCO as a financial institution with a distinctive characteristic of being Controlled, Owned, Operated and Patronized (COOP) by its thousands of member-owners is strictly adhering and advocating TRANSPARENCY of its Core Values.
As a member, you are entitled to examine its books of account anytime during the office hours within the limits provided by the law (R.A.9520) Updated Financial statement is always available for every member for scrutiny and readiness of the management in answering queries and doubts regarding the operation is more than enough guarantee of the safety of your investment and deposits.
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