Application for Membership
- The applicant for membership shall be in writing on a form provided for the purpose and shall be presented to the Board of Directors for action.
- The application shall be accompanied by a membership fee of Two Hundred Pesos (Php200.00), which amount, shall be returned to the applicant in case of rejection.
- The applicant shall subscribe for at least fifteen (15) shares with a total value of Pph3,000 of which at least Two Thousand Pesos (Php2,000) corresponding to ten (10) shares shall be paid upon approval of the application for membership. The membership and subscription agreement shall provide the terms of payment on the unpaid subscription.
- However, no member shall own or hold more than ten percent (10%) of the share capital of the cooperative.
- Appeal – An applicant rejected by the Board of Directors, may appeal his/her case to the next general assembly by giving notice to the Secretary of the cooperative thirty (30) days before the said General Assembly, whose decision on the matter shall be final.
Duties of Every Member
- Pay the installment on capital stock subscription as it falls due and to participate in the capital build-up and savings program of the cooperative;
- Patronize regularly its business;
- Participate in its parliamentary affairs;
- Attend the membership meeting, regular or special;
- Obey the rules and regulations provided by RA 9520 these by-laws, the decisions of the general assembly and the Board of Directors, and policies and decisions that may be promulgated by the Cooperative Development Authority (CDA); and
- Promote the aims and purposes of the cooperative, the success of its business, the welfare of its members and the cooperative as a whole.
Requirements of Every Member
- Primer/Exam Fee - 100.00
- Membership Fee - 200.00
- Minimum Capital/Fixed - 3,000.00
Minimum Monthly Financial Obligation of a Member
- Capital Build-up - 200.00
- Savings - 100.00
- Caring Fund - 150.00
- Social Service Fund - 50.00
Rights of Every Member
- Participate in the deliberation during membership meetings;
- Vote on all matters brought before such meetings;
- Seek any elective position, subject to the provisions of Section 12, Article III of these by-laws;
- Avail himself/herself of the services of cooperative without any discrimination whatsoever upon compliance with the conditions and requirements thereof;
- Inspect and examine the books of accounts, the minutes’ book, the share register, and other records of the cooperative during office hours and to exercise other rights and privileges of membership;
- Member can apply for membership withdrawal even if he has a pending obligation.
- The final arbiter in any dispute among members and/or officers of the SUCC is the General Assembly;
- The Credit Committee processes, evaluates and acts upon all loan applications of SUCC member;
- The Treasurer and the members of the Finance & Investment Committee serve as financial consultants to the SUCC Board of directors;
- The General Reserve Fund is created for the purpose of providing the stability of the Cooperative and to absorb losses, if any, that the Cooperative may incur in its business operation;
- An application for membership to SUCC is acted upon by the Board of Directors;
- The final authority in the management and administration of the affairs of the SUCC is vested in the Board of Directors;
- The poverty level for families in the rural areas tend to be lower than
- A country with a population of 10,000,000 has a total income of 30 billion pesos. Its per capita income is Php3,000.00;
- The state of abundance exists when demand exceeds supply;
- When a country’s economy is above-board, wages tend to rise faster than prices;
- Manager is in-charge of all aspects of SUCC’s operations
- A member can renew their loan if they have paid at least 70% of their previous loan