coop loan (member)

Criteria

A loan window to cater the needs of Bank’s members to finance their operation.

 

Borrowers Eligibility Criteria

  • Must be a regular member of Ilocos Consolidated Cooperative Bank and/or cooperative with Due for Deposit on Stock Subscription (DSS) with approved membership from the board;
  • With current Certificate of Compliance from the Cooperative Development Authority and the Bank.

 

Mode/terms of payment

  • lumpsum
  • Monthly
  • Quarterly
  • Semi Annual

requirements/Conditions

  • Post dated checks covering installment payments (case to case basis)
  • Certified photocopy of the Articles of Cooperation and By-laws and amendments, if any (for new applicants)
  • photocopy of CDA Certificate of Registration (for new applicants)
  • Copy of audited financial statements for the past two (2) years
  • Latest interim financial statements
  • Board resolution requesting for financial assistance and designating at least two (2) authorized representatives
  • List of key officers
  • ID photo of authorized representative
  • Certificate of Compliance from Cooperative Development Authority
  • Acceptable collaterals, if needed

Downloadable Form

Loan form.pdf