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UPB MULTIPURPOSE COOPERATIVE

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					                                                  UPB MULTIPURPOSE COOPERATIVE
                                                         University of the Philippines Baguio
                                                                     Baguio City

          APPLICATION FOR REGULAR LOAN
                                                               (to be accomplished in duplicate)

                                                             POLICY GUIDELINES
     1.  This is open to all regular members of the Cooperative;
     2.  At any given period, the total of the applicants’ Regular, Appliance, Contingency loans shall not exceed
         3X of the Member’s Fixed Deposit if in Good Standing and 2X if the member has history of irregularity in
         payment of previous loan;
     3. The loan shall be paid within a period of 10, 12, or 18 monthly amortizations;
     4. The following charges are deducted immediately:
              a. Interest: 6% for 10 months, 8% for 12 months, and 12% for 18 months
              b. 3% service fee
              c. 1% collection fee
              d. Filing Fee: for P10,000 and below = P5.00; P10,001-20,000 = P10.00; P20,001-30,000 = P15.00;
                   P30,001-P40,000 = P20.00; P40,001 & above = P25.00
     5. 2% of the amount applied for shall be deducted for capital build-up;
     6. 2% per month penalty shall be charged on the outstanding balance due to delayed payment or failure to
         pay;
     7. Aside from the penalty of 2%/month,
         7.a. the member will be considered bad standing for 3 months if there is :
                   7.a.1. non-payment of monthly amortization for 3 consecutive months
                   7.a.2. accumulated unpaid partial monthly payment equivalent to 3 months monthly amortization
                   7.a.3. non-payment of past due loan including penalties
         7.b. bad standing status will be lifted after 3 months upon full payment of outstanding loan and penalties
         7.c. the member’s privilege to avail of this loan, including appliance and contingency loans, shall be limited
         to 2x of his/her fixed deposit only
     8. Payment shall be made through payroll deduction and personal payment can only be availed of if
         member is in good standing;
     9. Reloan up to 3x of fixed deposit maximum shall only be allowed to member in good standing after 50%
         of previous loan has been paid and only up to 2x of fixed deposit maximum shall be allowed to
         delinquent members after 50% of previous loan has been paid;
     10. Restructuring may be applied one month before the due date by members with default payment, and the
         amount of loan must only cover the loan balance including charges and penalties incurred;
     11. Procedure in applying for a loan:
              11.a. Properly accomplish loan form from the Credit Committee,
              11.b. Submit the accomplished form, signed also by 2 co-makers in good standing, with the latest pay
              slip and updated passbook to the Credit Committee for evaluation and endorsement to the Board of
              Directors or Chair of the BOD (where applicable)
              11.c. If approved, the Treasurer shall process the loan and notify the borrower when check is ready for
              pick-up
NOTE: Loan processing will take days, but the Cooperative assures prompt service.

                                                                     LOAN FORM
RL No.: _______________                                                                                             Date: _________________
Type of Loan                                      New Loan                 Renewal                   Restructured
Purpose __________________________________________________________________________.
Amount applied _____________________________________________ PESOS ONLY (P__________)
Loan Payment Duration                             10 months                12 months                 18 months
Monthly installments of _______________________________________ PESOS ONLY                                                 (P__________)
Mode of payment                       Payroll deduction                 Personal Payment
The first payment on my loan will fall on _________________.                                       Loan will be due on _________________


                                                            Signature over printed name of the borrower

                       TO BE FILLED-UP BY THE CREDIT COMMITTEE/TREASURER
Maker: _____________________________________________                                                                Fixed Deposit: P__________
Loan Balance(s):
Regular:       P__________                Appliance: P__________               Contingency:         P__________       Emergency: P__________
Petty Cash: P__________                   Rice:         P__________            Good Standing: P__________             OTML:        P__________
Maker’s Cooperative Standing                      Good Standing           Bad Standing until _______________________________
Co-Maker: _____________________________________________                                                             Fixed Deposit: P__________
Co-Maker’s Cooperative Standing                   Good Standing           Bad Standing until _______________________________
Co-Maker: _____________________________________________                                                             Fixed Deposit: P__________
Co-Maker’s Cooperative Standing                   Good Standing           Bad Standing until _______________________________
                                                                                                              Regular Loan - February 2010 (joey)
                                              APPLICATION AGREEMENT
                                                        (To be checked by the Maker)
        I hereby agree that the loan principal, interest and other charges due shall be payable in
        monthly amortization.
        For this purpose, I hereby authorize whosoever is or will be the Treasurer of the Cooperative and
        Disbursing/Collection Officer of my present or future government office to deduct from my salary
        the required monthly amortization.
        In the event that I am unable to execute the option of personal payment, the
        Treasurer/Disbursing/ Collection Officer of my present or future government office shall deduct
        from my salary and other benefit/s due me the required monthly amortization, including a fine
        of 2% per month penalty on the unpaid loan balances in order to update my account.
        I likewise agree that the term of this loan will immediately mature upon my
        retirement/separation, death or permanent disability and all outstanding loan balances herein
        secured or may hereafter be secured as an additional loan shall be deducted from the proceeds
        of whatever benefits due as a result of the occurrence of any of the said contingencies.
        I, the undersigned hereby pledge all my deposits in this cooperative and other assets which I
        now have or hereafter as security for this application payable to the UP Baguio Multipurpose
        Cooperative and hereby authorize the Cooperative to apply any or all such deposits and other
        assets for payment of the said loan, interest, fines/penalties, cost or expenses in case of default
        in payments.
        I further agree that the proceeds of the loan secured by this application are subject to deduction
        for outstanding regular loan or any other outstanding loan/s or indebtedness I may have with
        the Cooperative in order to update or settle the same. In this connection, I hereby represent that
        prior to the filing of this application, I have secured or have knowledge of the tentative
        computation of the net proceeds of the loan herein applied for and hereby express my full
        intention to proceed with the same.
        I agree that this loan shall, at all times, be subject to the terms and conditions stated in this
        application and shall not be subject to unilateral revocation by the borrower.




                                                 Signature over printed name of the borrower



                                             CO-MAKERS’ UNDERTAKING
                                                      (To be filled out by the Co-Makers)

        We, as regular members of the Cooperative as the applicant/borrower hereby undertake to pay
the regular loan applied for including interests and penalties thereon in the event the applicant/
borrower defaults in the payment of his/her loan obligation for whatever cause. We hereby authorize
the Treasurer of the Cooperative and Disbursing/Collection Officer of my present government office to
deduct from whatever loans or claims proceeds accruing to me the aforementioned amount in order to
satisfy this undertaking, aside from the usual legal remedies that the Cooperative may avail in the
enforcement thereof.


        Signature over printed name of the Co-Maker                                    Signature over printed name of the Co-Maker




                                                             APPROVAL

CREDIT COMMITTEE ACTIONS:
Credit Committee Members:                                        Endorsed         Not Endorsed                 Remarks
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________

BOARD OF DIRECTORS ACTION:
Board of Directors:                                              Endorsed         Not Endorsed                 Remarks
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________
___________________________________                                                         ______________________________


                                                                                                        Regular Loan - February 2010 (joey)

				
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