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1. Capital Build-Up
a) Share Capital - derived from monthly contribution
Contribution of 2% of monthly income
b) Retention - 1% of every loan granted
2% of the interest on capital and
patronage refund
2. Donation - Cash or material services given by the
members of the cooperative
SHARE refers to a unit of capital, the par value of which is one hundred pesos (P100.00)
SHARE CERTIFICATE refers to a serially numbered certificate, which shall be issued by the
cooperative every time a member acquires fifty (50) shares amounting to five thousand pesos
(P5,000.00). It shall contain the shareholder’s name, the number of shares owned, the par value and
duly signed by the chairman and the secretary, and bearing the official seal of the cooperative. All
certificates issued and transferred shall be registered in the shares and transfer book of the
cooperative.
SHARE CAPITAL refers to the money paid or required to be paid by the members for the conduct of
the operation of the cooperative. The share capital of the cooperative may consist of common share
capital and preferred share capital both withdrawable upon termination of membership
SUBSCRIBED SHARE CAPITAL refers to the portion of the authorized share capital which the
members pledged or agreed to pay as their share capital to the cooperative and shall be paid within a
specified time as prescribed by the BOD
PAID-UP SHARE CAPITAL portion of the authorized capital of the cooperative which has actually
been paid by the members
Net surplus is the excess of payments made by the members for the loans borrowed, or the goods
and services bought by them from the cooperative. It is also defined as the BALANCE due the
members from the payments made to the cooperative.
Patronage Refund is the equitable distribution of benefits based from the member’s participation/
patronage. The allocation from the Net Surplus after deducting the statutory reserves shall not be
less than 30%.
Interest on Share Capital - the share capital shall earn interest and the rate of which shall be
computed as follows:
Where:
Limitations
The rate of patronage refund shall not be more than twice of the rate of the interest on share
capital
Patronage Refund
Computations
OF (7%) 70T
700T
Computations
700T
RATE 14%
RATE 9%
Average Share
January 2,000
February 2,200 2,000+200
March 2,400 2,200+200
April 2,600 2,400+200
May 2,800 2,600+200
June 3,000 2,800+200
July 3,200 3,000+200
August 3,400 3,200+200
September 3,600 3,400+200
October 3,800 3,600+200
November 4,000 3,800+200
December 4,200 4,000+200
Total 37,400
Average Share Month 37,400/12=3,117
Example:
Member A For P100,000.00
Interest Paid Loan (9.75%)
X Rate Patronage Refund P9,750.00
X14%
P1,365.00
P280.53
TOTAL P1,645.53
Time Deposit Interest Rates
TIME DEPOSIT