Loan service Improvements
We are happy to inform you that effective May 2014, we will provide you with a loan amortization schedule every time you apply for a loan that is approved. This will guide you as to the amount you are obligated to pay each time.
The survey on our Caring Fund options produced the following results:
- 307 survey forms were returned;
- 189 members: in favor of increasing the caring fund contribution to Php150.00 a month;
- 62 members: in favor of decreasing the caring fund assistance to only 10% of the hospital bill/receipts;
- 32 members: in favor of limiting the caring fund assistance to the top ten causes of morbidity and mortality;
- 20 members suggested to retain the same caring fund contribution;
- 3 members made various suggestions outside the options; and
- 1 decided to stop the caring fund contribution and program.
With these data, effective May 2014, we shall be contributing Php150.00 a month for our caring fund. Likewise, we retain the same assistance of 25% of the hospital bill/receipts, maximum of Php10,000.00 a month and at most Php30,000.00 a year.
In the same General Assembly meeting, we also approved the recommendation for loan protection coverage. Thus effective May 2014, we shall charge Eighty-five centavos (Php.85) per one thousand pesos (Php1,000.00) loan times the number of months of the loan period, regardless of its kind.
Please feel free to come to the office for any further explanation you may need.