What type of coop is ficco?
FICCCO was again renamed as FICCO, or First Community Cooperative, and became a multi-purpose coop.
How much is the interest in ficco?
Earns competitive interest rate….Time Deposit.
| TIME DEPOSIT INTEREST RATE | |
|---|---|
| AMOUNT | INTEREST/ANNUM |
| 100,001 – 300,000 | 2.30% |
| 300,001 – 500,000 | 2.40% |
| 500,001 – ABOVE | 3.00% |
What is the benefits of ficco?
Benefits for a Recognized Member. The member shall make a monthly contribution of FORTY Pesos (PhP40. 00) to KOOPAMILYA (previously FICCO MBA) or P 480.00 annual, for protection against loss due to death or total and permanent disability. The Life Insurance Benefit covers the member and the member’s legal dependents.
How do I register with ficco?
What are the requirements when applying for a FICCO Loan?
- – A member if FICCO.
- – Proof of identity (ex: Valid IDs)
- – Proof of Residency (ex: Billing- Water and Electricity)
- – Proof of Income (ex: Pay slip – if employed; Business Permit – owns a business)
What is petty cash loan ficco?
Petty Cash Loan – Perhaps one of the best selling loans of FICCO, because it is an “instant” loan, this is an over-the-counter loan facility, where members can avail based on their share capital bracket with maximum term of six months. This loan is based on individual member’s classification.
What are the practices of ficco?
We provide QUALITY SERVICE; We advocate VOLUNTEERISM; We uphold ACCOUNTABILITY; COMMITMENT to COOPERATION is a way of life.
What is ficco all about?
It is where one can loan some money, invest some money, and reap other benefits that come by being a member. It is a business designed based on the principle that every member gets to vote and has a voice. Overall, it aims to help the community by uniting the members of it.
What is the nature of ficco?
What is the meaning of lad in ficco?
LOAN AGAINST DEPOSIT (LAD):[1] – This back-to-back loan can be availed by old or new members during probationary period provided their deposits were not encumbered to other loans.
How cooperatives help their members?
Members generally contribute to, and control via a democratic process, the cooperative’s capital. Moreover, cooperatives often provide education and training to their members. For example, members of a consumer cooperative are entitled to receive a patronage dividend.
Why is cooperative important?
1) They aim to provide goods and services. 2) They aim to eliminate the unnecessary profits of middlemen in trade and commerce. 3) They seek to prevent the exploitation of the weaker members of society. 4) They aim to protect the rights of people both as producers and consumers.
What is a lad credit?
The amount due on a mortgage loan after adding all expenses of foreclosure and accrued interest to the principal balance of the loan and then deducting the sale price or lender-bid price for the property.
When did Ficco merge with Philippine merchants development cooperative?
● On November 24, 2009, the cooperative entered into a Merger Agreement (MA) with Filipino Merchants Development Cooperative (FMDC) with FICCO as the surviving cooperative. ● On December 31, 2009, the cooperative had 1 main office, 22 branches and 26 satellite offices.
Where can I find a copy of the Ficco regulations?
A copy of the Implementing Rules and Regulations shall be kept in the main office of FICCO and shall be available to the member for inspection during its regular office hours.
How much money does ficcco, inc.have?
● FICCCO, Inc. surpassed the one-million-peso mark in total assets amounting to P 1,162,479.88. ● FICCCO, Inc. was awarded the “MOST OUTSTANDING COMMUNITY COOPERATIVE for 1977” in Region X by the Ministry of Local Government and Community Development. ● The members’ total average deposits saved monthly was P 37,497.42.
What is the total assets of Ficco bank?
The total asset of FICCO and its 3 coop banks is now more than P5.63 billion with total deposits reaching almost P2.50 billion. ● FICCO’s membership has surpassed 152,000 and total share capital attributable to FICCO members amounting to P1.91 billion. 2011