Circular 004 by sirjersononline


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"A Companrfor Povefiy Free Society through Microfnance"
MacDofion Bldg. 768 EDSA cor East Ave., euezon City

crRcuLAR-2012_04                                                                           April 18,2012
To :              ALL PAGASA EMPLOTaEES

A Coordination Meeting with the RI\4/ADM/DM was conducted on April 14, 2012 at the Head Office
and primarily discussed the steps to be taken in strengthening the curr€nt company progam
operations. Following are th€ resolved issues and all employees are insru;ted lbr its

   1.   ENROLLMENT OF NEW BORROWf,RS - All new borrowers who wished to ioin the
        company will have to pay and deposit Membership Fee and LCBU on their first day/-week of
        admission. AII DOs are required to o ent properly the borrowem that in case the given
        infomation dudng the initial CLtsI is found to be false, the admission will automaticaliy be
        cancelled and the Membership Fee will be forfeited, only the LCBU will be refunded per
                                                    -                   on maintaimng batance of
     10% ard 15% will continue, however, to clarify the issued circular ofwithdrawing beyond the
  ' allowable maintaining balance, please note that this is only allowed during emergency cases
        and borowers can withdraw their LCBU below 15% but not less than 10i% of their

        Likewise, please be reminded that due to legal reason the company is not allow€d to giv€ any
        ilterest on LCBU of the borrowers. However, the Company will provide micro_insurance
        product to the borowers very soon.

   3.   MOTORCYCLI         - Puchasing Committee for motorcycle will be decentralized in the
        Division Office, and Divisional Manager will form a committee to puchase the neealed units
        of motorcycle.

        The maximum budget for MC per unit is php70,000.00. Resp€ctive stafr                will    bear the
        additional cost if the MC unit is beyond the maximum budget.

        Loaned motorcycle fiom former staff (resigned/Awol/terminated) will be hand over to
        Company and demoted staffwith loaned MC will continue to use and pay for it.

        Revised motorcycle guidelines   will   be issued on a later date for employee's guidance.

   4,   FUND TRANSFER NOTICE - Aside from sending e-rnail of fund transfer notic€ to
        respective AMs and bmnches, HO- Finance & Accounts Department will also have to send
        said notice to the branch through SMS/text for on time infomation.

  5.    AIIDIT FIIIDINGS       - DM is advised to immediately settle the fmdings and ensure on time
        action i.e. issuance of written memorandum to respective staf and othei related actions,
        receiving the consolidated audit reports from the In;mal Audit Department.

        Likewise, the Intemal Auditor will submit a summary ofconsolidated audit report to
                                                                                           the Heaal
        ofOpemtions aLnd President of ppLCL

  6.    ASE MONfTORING FINDINGS - In case ASE has found violation concerning AMMS
        during their monitoring in the branch, he can immediately issue notice to explain to
                                                                                             the BM.
        After receiving B-Ms wdtten explanation, ASE *,ill forward the copy to tir" OU *itt, t i"
        rccommendation for DroDer action.
  7.     BAD DEBT FOR WRITf,-OFF - The following rules must be followed for *Tite-off:
            a. Eligible Loans for Write-Off
                     i. Loans will only be eligible for \r'rite-off as bad debt if loans are over one-year
                        from the due date of last_aoortization or matudty date;
          .         ii. Loans under re-scheduled agreement will not be considered as bad debt unless
                        they become past due again, however loans should also be over one-year from
                        its maturity date.
            b. Demand Letters - Three (3) demand letters must be issued to respective borrowers
               before transferring the loan to bad d€bt. Issuance ofdemand letter can start before and
               after the matu ty date in case of past due. The promissory letter fiom the borrowers
                   can also be considered as demand lener.

                   The branch   will   preserved the hard copy of demand letters and no need to send       it itr

              c.   Respective BM will preparc the list of proposed borrowers for write-off and will
                   submit it to AM/RM for checking and then to DM for approval. Ajter approval, DM
                   wiil send a copy ro branch and HO.

        Likewise, please be reminded that deadline of submissiod of borrowers, list is not later than
        April25,2012 as per issued Memorandum (EX 2012_076) dabd Apfl 12,2012.
-8.     DISTRIBUTION OF PRJNTED GROIIP LOGBOOK - RMs will ensure that printed
        group logbooks are distributed to all groups before the month of May 2012. Likewise, the
        advances on the account of AM wilt be considered as liquidated once payment has been
        deposited to the branch account.

 '9. MONTIILY       TARGDT AND ACHIEVIIMENT - The target and achievement for DOs and
        BM will be done on a monthly basis while forAM, RM, ADM and DM will be on a quarterly

  10.   BRAIICH OLD PAPERS/DOCIIMENTS             - Ma.nagement will issue guideline on preserving
        or destroying papem/documents through the advice ofFinance & Accounts Depar-hnenL

  11. RM's AMMS ACCESS                 -   Respective ASE   will   have to create AMMS access code for the sole
        use   ofRMs within   15 days.

  12. DECENTRALIZ ATION OF WORKS In addition to the exisring approving authoriry
                                                       -                                                     of
      DM, they are also empowered to approve the following:
             Signing ofDeployment Contract and Regularization l,etter ofDos;
              b. Appointment for Promotion as BM In-Charge;
              c. Acceptance ofResignation Letter ofDO and BM;
              d. Conduct of Administrative Hearing;
              e. Purchase ofmolorcycle unils;
              f.   Approval of tour plan, leave and advances of Para-Legal, ASE and Training Officer
                   but rnust send copy ofapproval to respective Departrnent Head.

  13. MONITORING - Considering a much closer supervision and coaching to the branch staff, as
      well as reduction in travelling time and expenses, AMs ztre mandatory to spend two (2) days
      per branch during their monitoring and each branch must be monitored twic€ a month.

        The monitoring ofRMs     will be on a priority basis, based on problem, and must have spenr ar
        Ieast eighteen (18) days monitoring per month. problematic branches under their region must
        be monitored twice a month.

        For the DM, they have to visit at least 10-12 branch€s as their regular monthly monironng.

  14. RXCORDING IN GROUP LOGBOOK - The Tlainirg Depatment will have to ensure that
      proper recording in-goup logbook is included in PSO Th€oretical Training schedule and
      15.   DO DEPLOYMDNT - Wirh the decertrslization of DO deployment, HR DepartmeDt .rill
            issue guidelines to the Division Office on its process .s well as list of Ee-requisites to be
            submitted by-the PSO before receiving theirdeployment contract.

      16,   LOAII RX-SCmDIILING - UnauthizeO re-scheduling is cre.ring adv€rse impact to the
            whole operation. Management has noticed inegularities/anomolies in loar re-scheduling, that
            instead of solving the problen/crisis, it creates complioation and more difficulties in runnins
            smooth opemrion.

            With immediate eff€ct, once loar has been re-scheduled per company policy, these loans will
            not b€ allowed for another rc-scheduling. Seaond time re-scheduling is no longer allowed,

            All   concems a.e inshucted to striotly follow the guidelines for loan re_sc[eduling.

For your information and stdct compliance.


We .cknowledged   th.t thir cinutar wrs lt5d, disculsed snd erplained by our BM lnd Al\iL We
rcknowledged thst we utrdeEtood clesrly the coDterts of tbis Cirruhr.

DO 1:                                  7.                               J:

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