UPB MULTIPURPOSE COOPERATIVE
University of the Philippines Baguio
APPLICATION FOR RICE CASH LOAN
(to be accomplished in duplicate)
1. This is open to all Cooperative members in GOOD STANDING;
2. The loanable amount is P1,500.00;
3. The loan shall be paid within a period of 1 month in lump sum with 5% charge as interest, service and
4. An overdue loan shall incur a 2% per month penalty and 2% per month interest charged on the outstanding
5. If a member fails to pay within a 7-day grace period from due date, twice in a 6-month period, the said member
will be automatically suspended to avail of this loan within 1 month after full payment of the loan balance
and will be considered bad standing for 3 months (cannot avail of Good Standing Loan Bonus);
6. Payment shall be made directly to the Treasurer;
7. Reloan is not allowed;
8. Procedure in applying for a loan:
a. Properly accomplish loan form in duplicate
b. Submit the accomplished form and passbook to the credit committee for evaluation
c. The form is then forwarded to the designated Approving Officer;
d. 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.
RICE LOAN No.: RICE-2008-____ Date: _________________
Amount applied ONE THOUSAND FIVE HUNDRED PESOS ONLY (P1,500.00).
Purpose PURCHASE OF RICE.
Loan Payment Duration 1month maximum. 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
the required loan balances, including penalties and interests 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 time, 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 (at least 1 member): Endorsed Not Endorsed Remarks
Approving Officer: Approved Not Approved Remarks
RICE LOAN FORM – February 2010 Edition (joey)