Western Philippines University

CREDIT COOPERATIVE

San Juan, Aborlan, Palawan

 

Articles

Types Of Loan
Benefits
Interest Rates On Loans And Other
Types Of Deposits / Sources Of Funds
Interest On Deposits
 

Types Of Loan

Petty Cash Loan 

                       Loanable amount of P500 can be availed by every member of the cooperative.

Emergency Loan

                       A loan of P1,000 maybe granted to a member after the payment of his first fixed deposit. The frequency of availing this type of loan depends on the member’s capacity to pay.

Regular Loan

                        A loan of P6,000.00 may be granted members who have paid at least P2,000.00 of their fixed deposit after one year of membership. Members who have paid P5,000.00 or more of their capital share may avail of the P12,000.00 regular loan.

Appliance Loan

                         The maximum loanable amount for this type of loan is P24,000.00 granted only to members who have paid at least P10,000.00 of their capital share and have been a member for at least one year.

Educational Loan

                          A loan of P10,000.00 may be granted to members who have children in elementary, high school or college or to members who are in college and those pursuing graduate studies. Granted only during enrollment period, except to graduate students who may avail of the loan anytime during the performance of their thesis or the preparation of their manuscript. 

Multi-purpose Loan

                            The maximum loanable amount for this type of loan is P60,000.00 granted only to members who have paid at least P20,000 of their capital share to the cooperative and who have been a member for at least one year.

Unified loan

                            The maximum loanable amount should not exceed the amount of P500,000.00 including the other types of outstanding loan. The member must have already availed of the other types of loan and must be a member of good standing (loans are updated, paid capital share and complete attendance in the general assembly). 

Back to Back Loan

                             A loan granted to members allowing them to use their investment as collateral.

Car Loan

                        A loan granted for the purchase of a brand new car. The amount of loan depends on the price of the car and the member’s capacity to pay. 

Housing Loan 

                              Loanable amount per type of loan;

House & Lot P 500k-2M;  House only P 500k-1M;  Condominium P 1.5M-3M;  Townhouse P 1.7M-3M;  House Renovation/Improvement P100k-500k;  Apartment/Boarding House P 500k-1M.

***All types of loans may only be granted to the Regular Members of the Cooperative.
 

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