Membership Policy
Membership Policy of Metro Partido Peninsular Credit Cooperative (MPPCC)
Application Process:
All prospective members must complete an application form and submit it for approval to the Board of Directors as per the MPPC By-Laws. The status of the application will be communicated within 15 days from receipt. If no response is provided, the application is considered approved.
Types of Membership:
1. Regular Membership: Entitles members to full rights and privileges, including voting rights and eligibility for elected positions.
2. Associate Membership: Members have access to specific rights and privileges as defined in the MPPCC By-Laws but do not have voting rights or eligibility for elected positions.
Qualifications for Membership:
Regular Membership:
- Open to all members of Metro Partido Peninsular Eagles Club.
- Completion of pre-membership education training.
- Adherence to the By-Laws, policies, guidelines, rules, and regulations set by the Board of Directors and the General Assembly.
- Payment of a P1000.00 membership fee.
- Continuous patronage of the cooperative’s products and services for two years from the date of membership.
- Commitment to maintain membership in good standing for at least three years.
Associate Membership:
- Open to all active members of TFOE-PE Inc.
- Subject to the same qualifications as regular membership.
Minimum Share Capital Subscription:
- Regular Members must subscribe to a minimum of four hundred (400) shares upon membership approval.
- Associate Members must subscribe to a minimum of two hundred (5) shares upon membership approval.
- Payment for shares can be made in cash or other approved means within a set period by the Board of Directors.
- No member may hold more than ten percent (10%) of the total subscribed share capital.
Member Rights:
Regular Members:
- Participate and vote in General Assembly meetings.
- Seek elective or appointive positions.
- Access cooperative services, subject to Board conditions.
- Inspect cooperative records during office hours.
- Additional rights as granted by the General Assembly.
Associate Members:
- Participate in general membership meeting deliberations.
- Access cooperative services, subject to Board conditions.
- Inspect cooperative records during office hours.
- Preferential interest on share capital and priority in asset distribution upon liquidation.
- Additional rights as granted by the General Assembly.
Suspension of Membership:
Membership may be suspended for:
- Non-payment of subscription or loan amortizations for three consecutive due dates after due process.
- Failure to attend two consecutive assembly meetings without valid reasons.
- Suspension ranges from one to six months, affecting certain privileges like loan applications and voting rights.
Termination of Membership:
Members may be terminated for:
- Actions against the cooperative’s best interests.
- Membership in or support for competing entities.
- Non-fulfillment of share capital subscriptions as per Board deadlines.
- Procedures for termination follow the dispute resolution guidelines in the By-Laws.
Membership Fee:
A one-time fee of P1000.00, payable in cash upon membership approval. Following the completion of the pre-membership seminar and initial payment obligations, the applicant is considered a full member. Members may withdraw once and may reapply after three months, subject to Board approval.