Product and Services
Regular Savings Deposit
- Higher interest rate at 4 % per year
- May deposit any amount thru salary deduction or over the counter
- Can be withdrawn anytime
- Tax free and no other charges
- Php 1, 000 monthly maintaining balance
* Rates can go up and down depending on economic and market condition.
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Savings Deposit Plus
- Higher interest rate at 4 % + 1 % per year
- Monthly over the counter deposit of at least Php 200
- Deposit lock for 1 year
- Tax free and no other charges
- Php 1, 000 monthly maintaining balance
* Rate can go up and down depending on economic and market condition.
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Time Deposit
Amount of Deposit Interest Rate/Annum
(PHP)
100, 000 - 999, 999 5 %
1,000, 000 - Up 6 %
- Compounded Annually
- Tax Free
* Rates can be change according to market movement.
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Aflatoun
Interest rate effective January 1, 2016 - 4%
The 5 Core Elements of Aflatoun:
- Personal understanding and exploration
- Rights and responsibilities
- Saving and spending
- Planning and budgeting
- Child enterprise (Social and Financial)
Aflatoun's Child Friendly Banking will work to guarantee every child's easy access to their own safe and friendly savings account.
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Kiddies and Youth Savings
- Higher interest rate at 4 % per year
- Over the counter deposit
- One-time service fee of Php 100
- Can be withdrawn anytime
- Tax free and no other charges
- Php 1, 000 monthly maintaining balance
* Rate can go up and down depending on economic and market condition.
NOTE:
Depositors for Kiddies and Youth Savings are not members of the Cooperative. These savings are extended services to member's dependents/relatives.
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Retirement Savings Variable Plan (RSVP)
- This savings product is open to all COOP members.
- Tax free
- Initial over-the-counter deposit of Php 1, 000 to open an account.
- Maximum total deposit amount of Php 2M
- May increase savings through over-the-counter, salary deduction or on-line deposit. Maximum deposit in a given month (accumulated or one-time deposit) shall be no more than FIVE THOUSAND PESOS (Php 5,000).
- Interest shall be computed based on average daily balance (ADB) scheme and to be added to the member’s Regular savings account annually.
- In the event of savings withdrawal, the following pre-termination rate shall be applied:
Example:
1st year - 3rd year - interest rate of Regular savings + 0.5% shall be applied
4th year - 6th year - interest rate 5%
7th year - 9th year - interest rate 5.5%
10th year - 12th year - interest rate 6%
13th year - 15th year - interest rate 6.5%
- Once savings is withdrawn in any particular year, the member may again open the said savings account (start anew).
- On the 16th year:
a) Member may continue to deposit on a monthly basis. Maximum deposit in a given month (accumulated or one-time deposit) shall be no more than FIVE THOUSAND PESOS (Php 5,000)
b) Interest income is compounded quarterly to be added to the member’s Regular savings account.
* Rates can go up and down depending on economic and market condition.
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Business Credit Line Loan
This loan is to provide FCCMPC members or institution financial assistance that will augment the capitalization of their existing business. This is a secured loan type wherein the applicsnt shall submit the required documents supporting their business.
- Service charge of 1.5 %
- 14.4 % interest per annum
- Completion of requirements to avail the Business Credit Line Loan Program
*Rates can go up and down depending on economic and market condition.
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Cash Assistance System For Emergency (CASE)
Provide the members option for fast loan processing.
- Php 100, 000 maximum loanable amount
- 3 % per month interest rate
- Payable in 12 months maximum term
- 1 peso per thousand service charge
- Re-loan availability after one cycle payment
*Rates can go up and down depending on economic and market condition.
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Commodity Loan
A short term credit facility used for members' purchase on account from accredited suppliers of dry goods, groceries and ETC.
- Must have no existing balance on the given credit line and no delinquent accounts
- Commodity availment based on maximum credit line
- Does not require a co-maker
- Payment terms and interest vary per products purchased
*Rates can go up and down depending on economic and market condition.
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Educational Loan
This type of loan is to provide FCCMPC members a facility to avail of an educational loan programs so they can finish their studies or send their children to school without having difficulty in payong the school tuition fees.
- Maximum loanable amount is Php 50, 000
- Interest rate is 6 % per annum. Maximum term of 1 year
- Service charge is 2 %
- At least 2 co-makers are required
- Requires School Assestment Statement
- Loan release is paid directly to school
*Rates can go up and down depending on economic and market condition.
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Hospital Emergency Loan Program
This type of loan is used to assist members in their hospitalization expenses.
- Directly paid to the hospital
- Requires final hospital billing statement
*Rates can go up and down depending on economic and market condition.
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Multi - Purpose Loan
Intended for all types of expenditures.
- Maximum loanable amount of Php600,000
- Maximum payment term is 24 months or 2 years
- 2 % service charge on Php 100,000 and below. Php 2,000 fixed service if it exceeds Php100, 000
* Rates can go up and down depending on economic and market condition.
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Petty Cash Loan
Walk-in over the counter cash availment.
- Php 1, 000 or Php 500 loanable amount
- 3 % add-on interest every month
- No outstanding petty cash loan balance
- Payable in 3 gives
- Must have no delinquency in all amortizations due on all laon/ credit accounts
- No co-makers
* Rates can go up and down depending on economic and market condition.
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Secured Loan
This type of loan is availed with real state property as collateral.
- Php 1 million max loanable amount
- 12 % interest rate per annum
- With service charge and insurance protection
- 5-8 years to pay
- 2-3 weeks processing leadtime
* Rates can go up and down depending on economic and market condition.
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Special Accounts
This type of loan account is a facility that allows a member to purchase miscellaneous items from accredited suppliers.
- Maximum amount is equivalent to the members' fixed deposit.
- Interest rates varies per product purchased
- Payment to maximum of 1 year.
- No co-maker required.
Other Commodity Products:
- Cellphones & Accessories, Computer Equipments, Accessories & Peripherals.
- Home Appliances c/o Asian Home & Emcore Generic Medicines & Grocery Items c/o FCCMPC.
- Insurance
- Travels&Tours
- Portable Stove- single Burner (uses butane gas)
- Super Kalan (using coal)
- Inos Kitchen Collections
- Phil-Kraft Kitchen Collections
- Bicycles & Accessories
- Car Batteries and Accessories
* Rates can go up and down depending on economic and market condition.
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Memorial Products
Eternal Plan Features
- Casket 10K worth
- Transportation worth up to 25KM FREE
- Cash Back Of Php 14,740 after 15 years & covered lifetime if not being used
- Transferable to family and friends
- Convertable to cash
- Cash Benefits
- Coop Price (Php 178.11/bi-monthly = Php21,372.80 for 5 years)
- Insurable Age (18-64 years old)
Fonus Cebu Funeral Package (Tie up with Damayan Cooperative Bereavement)
- Casket
- Pick up of Cadaver
- Embalming Medicine
- Restoration of disfigured features when applicable
- Turn-Over of the casketed cadaver
- 7 days home viewing
- Burial Arrangement
- Delivery to internet site
Memorial Lots:
6% Interest per annum, Max term of 5 years
- Celestial Meadows Memorial Lots at Minglanilla, Cebu - Php68,000.00
- Cebu Evergreen Memorial Lawn lots at South Road,Cebu:
Lawn Lot Ultra 2.5 - Php126,174
Lawn Lot premium 2.5 - Php104,668
Lawn Lot Regular 2.5 - Php86,559
>> Cattleya Memorial Gardens (Cordova) - Php130,000
*Rates can go up and down depending on economic and market condition.
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