PANABO MULTI-PURPOSE COOPERATIVE

Where people invest in people…

MEMBERS CLASSIFICATION

MIGS GOLD

RequirementsBenefits and Privileges

1. Share Capital of Php50,000 and above
2. Savings Deposits (Regular Savings, Time Deposit and/or Mothers Premium Savings Plan) with at least 10% annual growth, if balance is still below Php200,000
3. With existing updated Loan Account or no default amortization of more than one (1) day

1. Attend the annual general assembly
2. Participate in the discussion and vote on all matters during the general assembly
3. Seek any elective or appointive position, subject to the provision in the By-Laws and RA 9520
4. Access to products and services of PMPC
5. Priority for invitation to PMPC activities
6. Loan entitlement:
6.1. up to 200% of total share capital investment and savings deposits or up to 100% of the assessed loanable amount, whichever is applicable based on 5 Cs of credit, subject to the provision in the Members’ Loan Eligibility Policy
6.2. May apply for loan renewal with at least 25% payment on principal for loan products that require at least 50% repayment on principal or after six (6) months repayment, whichever comes first

MIGS SILVER

RequirementsBenefits and Privileges



1. Share Capital of at least Php25,000
2. Savings Deposits (Regular Savings, Time, Deposit, and/or Mothers Premium Savings Plan) with at least 10% annual growth, if balance is still below Php100,000
3.With existing updated Loan Account or no default amortization of more than one (1) day
1. Attend the annual general assembly
2. They can participate in the discussion but not entitled to vote on all matters during the general assembly
3. They are not entitled to seek any elective position.
4. Access to products and services of PMPC
5. Priority for invitation to PMPC activities
6.Loan entitlement equivalent to 150% of total share capital investment and savings deposits, or up to 80% of the assessed loanable amount, whichever is applicable based on 5 Cs of Credit, subject to the provision in the Members’ Loan Eligibility Policy

MIGS BRONZE

RequirementsBenefits and Privileges

1. Share Capital of below Php25,000 but not less than Php2,000
2. Savings Deposits (Regular Savings, Time Deposit and/or Mothers Premium
Savings Plan) with at least 10% annual growth, if balance is still below Php50,000
3.With existing updated loan account or no default
amortization of more than one (1) day


1. Attend the annual general assembly
2. They are not entitled to participate in the discussion and vote on all matters during the general assembly
3. They are not entitled to seek any elective and appointive position.
4. Access to products and services of PMPC
5.Loan entitlement equivalent to 100% of total share capital investment and savings deposits, or up to 70% of the assessed loanable amount, whichever is applicable based on 5 Cs of Credit, subject to the provision in the Members’ Loan Eligibility Policy

NON-MIGS

RequirementsBenefits and Privileges

Members are considered Non-MIGS under any of the following circumstances:

· With default loan amortization of more than one (1) day
· No loan availment for the last three (3) years
· Have not attained the minimum 10% growth both on share capital and savings deposits
1. They are not entitled to attend the annual general assembly, participate in the discussion and vote on all matters during the general assembly, and seek any elective or appointive position.

2.Loan entitlement of equivalent to loan against investment or deposit, or up to 40% of the assessed loanable amount, whichever is applicable based on 5 Cs of Credit, subject to the provision in the Members’ Loan Eligibility Policy

RATING AND CLASSIFICATION SCHEDULE

  • Rating and classification shall be done once a year or every 1st-2nd week of January of the following calendar year.
  • Rating result shall be considered final.
  • The membership evaluation and classification list shall be posted in the PMPC Bulletin Board

Rating and classification schedule for 2020 shall be done on March 2021, thus members still have the time from January-February to update their balances and loan accounts for MIGS classification.