TERMS AND CONDITIONS OF
MEMBERSHIP APPLICATION

  1. Comply with the provisions of the Articles of Cooperation, the by-laws and policies set by the Board of Directors, the General Manager, as well as acts of duly constituted authorities and in case of failure on my part to do so, the Kilusang Bayan (BCC) at its options may:
      • Fine, suspend, terminate or expel me from membership, where upon all my shareholding shall be answerable for my loans as co-maker and other liabilities to the BCC. This is without prejudice to the right of BCC to file complaints for collection of all loans and obligations to BCC in case my shareholding is not sufficient to cover the full payment of my loans.
  1. I will attend the prescribed Pre-Membership Education
  1. Certify the truthfulness of all the information in the first page Life Share Protection Plan (LSPP). I further certify that I have read, understood and have been apprised, as well as my beneficiaries and family members of the Life Share Protection Plan to which I/ we adhere and strictly abide.
    • Any violation on any part or whole policy shall be enough ground for the non-payment or forfeiture of my LSPP benefits without any further notice.
  1. Pay the membership fee of ₱100.00
  1. Participate in the following Capital Build-Up Program, under BCC By-Laws, Article II, Sec. 5 & Article VII, Sec. 67.
    • To subscribe for one hundred forty shares valued at ₱100.00 per share and pay in lump sum or installment within twenty-four (24) months from the approval of this application.
    • To contribute at least 5% of the loan/s that I will avail of for my CBU. For this purpose, I hereby authorize BCC to automatically deduct 5% of my approved loan/s and add the amount to my share capital;
    • To contribute at least 50% of the annual interest on capital and patronage refund due to me and add to my share capital; and
    • To contribute daily/ weekly/ bi-monthly/ monthly for share capital and savings from my monthly salary/ earnings/ income.
  1. Agree and comply the terms and conditions applied on membership withdrawal as prescribed under the following:
    • BCC By-Laws, Art. 2 Sec. 12 to wit: “A member may, for any valid reason, withdraw his membership from the cooperative by giving a 60-day notice to the Board of Directors. However, no member shall be allowed to withdraw or terminate his membership during any period in which he has any pending obligations with the Cooperative.”
    • BCC Membership Policy Art. , Art. 1, Sec. 1 Sec. 13, wit: “Member who opts to resign his/her membership with the Cooperative must comply the procedures included herein:
    • Secure and fill-up resignation and clearance form
    • Surrender and submit Share Certificate (if any), Share Capital Passbook, Regular Savings Passbook, Emergency Fund Passbook, MIGS ATM Card and other documents needed and issued by BCC.
    • Undergo counseling and re-orientation from the Board of Directors or any authorized representative.
    • Pay the required termination fee of ₱ 1,0000.00 to be deducted from members Share Capital.
  1. Exhaust all remedies within the cooperative to try to solve all differences before going to the CDA or the courts.
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