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