Version Date: 25 January 2024
Article I
DECLARATION OF POLICY
This policy paper provides guidelines governing share capital contributions of the Cooperative. The policy is aimed at providing a reasonable and realistic member share capital build-up to allow for the continuing growth of members’ investment in the Cooperative.
Article II
DEFINITION
The term “share” shall refers to a unit of capital with a par value of One Hundred Pesos (P100.00).
Article III
MINIMUM AND MAXIMUM SHARE CAPITAL SUBSCRIPTION
As mandated by RA 9520 or the Philippine Cooperative Code of 2008, no member shall own or hold more than ten (10) percent of the total share capital of the Cooperative.
Minimum: The minimum share capital subscription per member shall be Two Hundred (200) shares with a total value of Twenty Thousand Pesos (P20,000.00).
Maximum: The maximum share capital subscription per member shall be Ten Thousand (10,000) shares with a total value of One Million Pesos (P1,000,000.00).
Article IV
SHARE CAPITAL CONTRIBUTION
To promote continuous capital build-up, members are required to invest in the Cooperative in the form of share capital, as follows:
- Initial Share Capital Contribution: Upon approval of membership, a member is required an initial share capital contribution of at least five (5) shares or at least Five Hundred Pesos (P500.00).
- Continuous Capital Build-Up: After the initial share capital contribution, members are required to contribute a minimum of three (3) shares or Three Hundred Pesos (P300.00) a month until the minimum Share Capital Subscription has been paid up. Members may change their monthly capital build-up anytime by informing the coop office via email.
Article V
WITHDRAWAL OF SHARE CAPITAL CONTRIBUTION
Only upon termination of membership shall a member be entitled to a refund of his/her share capital contribution. Partial withdrawal of share capital is not allowed.
