Member Benefits and Programs
Following are some of the benefits and programs HPP Employees Multipurpose Cooperative offers its members:
Credit Facilities
Members can borrow up to 5x of their share capital contribution with different interest rate and payment term depending on the loan type.
Forced Savings
The Cooperative promotes thrift among members by automatically collecting their contributions from their payroll account every payday. This allows members the discipline to save and invest for the future.
Interest-Free Loans
The Cooperative has partnered with different vendors for a 0% interest on certain products.
Dividends
Members get interest on their Share Capital contribution based on the performance of the Cooperative. Interest on Share Capital is tax-free.
Interest on Savings Deposit
The Cooperative offers both Regular and Fixed-Term Deposits with interest rates that are higher than most banks. And unlike banks, our Interest on Savings Deposit is tax-free.
Patronage Refund
This is the amount returned to borrowing members for patronizing the loan products of the Cooperative. This makes the Coop’s published interest rates effectively lower since part of the interest paid by the members is returned to them.
Damayan Fund
This is a burial assistance to members. Coverage include Regular and Associate Members in Good Standing, their siblings, and their dependents up to the 1st degree of affinity and consanguinity. Amount of benefit is P10,000.00.
HPP Life Plan
HPPEMC has purchased several St Peter Life Plans that members and their dependents can use "when the time comes". As commonly known, the "at-need" cost of a memorial service can be up to 3x more expensive than its "pre-need" equivalent. To help members who had an untimely death in the family, HPPEMC can "lend" one of its St Peter Packages. The member only need to replace it with the same St Peter Package which he/she can buy at "pre-need" cost. This is to make sure we have a ready inventory of life plans in case other members would need one.
Catering Services
HPP offers catering services for members as affordable rates.
HPP Vacation Units
HPPEMC has vacation units in Tagaytay and Baguio exclusive to members. The objective is to provide members and their family a place to relax and unwind at very affordable prizes.
1CoopHealth: The HPP HMO Plan
Affordable HMO Plans from the Cooperative Health Management Federation. To provide members (and their family) peace of mind, the cooperative way. 1CoopHealth is available from 12 up to 75 years of age.
Community Development Fund
The Cooperative sets aside funds from the annual net surplus for the purpose of doing various activities and project that will benefit the community where the Cooperative operates.
Education and Training Fund
The Cooperative sets aside funds from the annual net surplus for various needs of members which may include livelihood, leadership, and others.