UPB MULTIPURPOSE COOPERATIVE
University of the Ph ilippines Baguio
A PP LIC A TION FOR GOOD S TA ND IN G B ON US LOA N
(to be accomplished in duplicate)
1. This is open to all regular members who are in GOOD STANDING for the last three months.
2. The loanable amount is P2,000.00.
3. The loan shall be paid personally on or before the last working day of the following month as the due date.
4. The charges for the loan are as follows:
4.a. P10.00 service fee
4.b. 0% interest upon full payment on or before due date
5. Procedure in applying for a loan:
5.a. Properly accomplish loan form from the Credit Committee.
5.b. Submit the accomplished form, your updated passbook and xeroxed copy of your latest pay slip to the
Credit Committee for evaluation and endorsement to the Chair of the BOD.
5.c. If approved, the Treasurer shall process the loan and notify the borrower when check is ready for pick -up
6. A 2% per month penalty shall be collected in case settlement is made after due date and the privilege of a
member to avail of this loan shall be suspended for two months. A member will be considered bad standing for
three (3) months if he/she defaulted twice within a period of six (6) months.
NOTE: Loan processing will take days, but the Cooperative assures prompt service.
GSBL No.: _______________ Date: _________________
Amount applied : TWO THOUSAND PESOS ONLY (P2,000.00).
Loan will be due on ___________________________________.
I hereby agree that the loan principal, interest and other charges due shall be payable within a period of
one (1) month. 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 loan balances, including 2% per month penalty in order to update my account.
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 likewise agree that the term of this loan will
immediately mature upon my retirement/separation, death or permanent disability and all outstanding balance
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 further agree that the overdue loan
payments by this application are subject to deduction for 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
CREDIT COMMITTEE ACTIONS:
Credit Committee Members : Endorsed Not Endorsed Remarks
ACTION of the CHAIR of the BOARD OF DIRECTORS:
Endorsed Not Endorsed Remarks
GSBL – February 2010 (joey)