GENERAL POLICY​​​​​​​​​​​​​​​​​​​​​
 

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WHO ARE Members In Good Standing (MIGS)?​​​​​​​​​​​
 

Who are Members in Good Standing (MIGS)? ​​

 

Sometimes the best way to assess who are MIGS is to disclose ones who are not. A member is not MIGS if he/she has:

A.     Not patronized the services of the cooperative for an unreasonable period of time.

B.     Continuously failed to comply with the rules and obligations provided in our coop’s By-Laws.

C.     Done any act or omission injurious or prejudicial to the interest or welfare of the cooperative

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​Simply put, a member is in good standing status if he/she is mindful in abiding with the By-Laws of KADAMAYmpc, particularly:

1.     Promote the Vision, Mission, and Goals of KMPC and the coop movement as a whole.

2.     Updated in his/her monthly contribution to the capital build up of KMPC​ (Share Capital) , as well as regular amortizations for loans availed.

3.     Obey the rules and regulations of KMPC and as provided for in its By-Laws and the Coop Code (RA 9520) as well as abide by the policies and decisions of the General Assembly and the resolutions of the Board of Directors and those of the Cooperative Development Authority (CDA).

4.     Patronize and participate regularly in the business and initiatives of the cooperative.

5.     Attend Membership Meetings, Annual General Assembly, Regular Meeting and Special General Assembly Meetings that may be called upon.

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​KMPC GENERAL RULES & POLICIES (STRICTLY IMPLEMENT)​​​​​​​​​​​
General and Specific Policies *​​​​​​​​​​​

GENERAL POLICIES:

A. The following requirements are a MUST before a new member can avail of any loan:
1. Payment of P1500.00 subscription fee;
2. Attendance of the educational seminar for new members;
3. Payment of at least 25% of subscribed capital stock or P5,000 for the availment of a regular and/or emergency loan;
5. Payment of 100% of subscribed capital stock or minimum of P5,000 and maximum of 20, 000 for the availment of all the other loans.
 

B. Amortizations of the loans are made through commission deductions or bank payments every friday. Payments through post-dated checks are for 20K Loan above. 

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SPECIFIC POLICIES:

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1.      KMPC APPLICATION FORM (EMAIL or LBC)

2.      2 X 2 ID PICTURE (email or uploaded)

NOTE: NO PICTURE , NO ID.

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PNB ATM Application Procedure:

1.      Fill-up APPLICATION FORM for PNB ATM with SIGNATURES (LBC)

2.      ATTACH 1 VALID ID with 3 SPECIMEN SIGNATURES.

Note: Original Signature is needed by the Bank.

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LOAN (TRADITIONAL OR FASTRACK)

 

1.      Fill-up LOAN FORM with Signature & Thumb mark.

2.      Email at kadamyampc@gmail.com

3.      7 days processing upon receive of loan.

4.      Once generated, signed loan statement should be email at the office.

NOTE: NO EMAIL OF LOAN STATEMENT (signed by the borrower), NO RELEASE OF LOAN.

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Reminders:

• Please do not forget to deposit your weekly share capital and loan payment (if applicable) every Friday.
• Release/Renewal of loan will be delayed for 1 MONTH, if there will be a lapse/deficiency in payment.​
• Avail your PNB ATM card today. No ATM, no release of commissions and loan.

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COMMISSION:

 

1.      Cut-off is from Monday to Sunday.

2.      ENCASHMENT Request is needed.

3.      MINIMUM ENCASHMENT IS P 500.

4.      RELEASE OF COMMISSION IS WEDNESDAY, next week.

NOTE:   No ATM, no release of commissions

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POLICY OF SOCIAL FUND/HELP PROGRAM BENEFITS:

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1.      Be a member of KADAMAY Multi-Purpose Cooperative and avail our Help program under Social Fund.

2.      If a member died thru natural death, accidental death, unprovoked murder or assault, this will entitle him/her for help program benefits given by our          .........cooperative and each member. (Suicide and act of GOD not included).

3.      Every member with commission will contribute P20 the death of the member.  (To be deducted from their account).

4.      Beneficiary can avail only once. (One name, one time availment).

5.      Only the declared beneficiary will avail the help program.

6.      There will be Ninety (90) days contestability period from the time of encoding the member’s application to actual date of death.

7.      Requirement to Help Program Benefits: One (1) DIRECT REFERRAL.

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DEATH CLAIM REQUIREMENTS:

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Death Claim Requirements:

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• Affidavit of Accident/Police Report
• Medical Certificate/Death Certificate
• Medical Expense Incurred
• Post Mortem Report
• Proof of relationship with insured
• Birth Certificate

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PERSONAL ACCIDENT CLAIM REQUIREMENTS
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• Accomplished Claim Form
• Hospital Statement of Account with Room & Board Charges
• Hospital Official Receipt of Payment
• Hospital Itemized Receipt and/or Charge Slips
• Physicians Fee Official Receipt
• Doctors Prescription and Drug Store Invoice of Medicines Purchased
• Affidavit of Accident/Police Report
• Medical Certificate