News

Good news! With the easing of the lockdown, Tagaytay City has been placed under the more relaxed Modified General Community Quarantine or MGCQ effective September 1, 2020. As such, our HPP Vacation Home at Serin Tagaytay is now open to members.

To book, please click here.

However, please note of the following protocols:

• Guests need to present Health Certificate from their Barangay (or Rapid Test result) upon check-in.
• Maximum stay of 48 hours. Otherwise, guests will be required to undergo a 14-day quarantine in Tagaytay.
• Practice minimum health standard - physical distancing, face mask, face shield, disinfectant, etc.
• Guests aged 60 up and 21 below with health risks, pregnant women, and those living with the aforementioned vulnerable groups, are required to stay inside the unit at all times unless when obtaining essential goods and services.
• Curfew is enforced from 10PM to 5AM.
• Private vehicles travelling to and from Tagaytay are allowed provided physical distancing inside the vehicle is maintained. Public transportation operate at 50% of passenger capacity.
• Churches, restaurants, and other establishments may operate at 50% seating capacity.
• Malls, supermarkets, and drugstores are allowed to open only from 7am to 7pm.

For the complete Serin MGCQ Guidelines, please click here.

Please note that above community quarantine status and protocols may change depending on the recommendations coming from the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID).

Stay safe.

A lot of members have been asking various questions about Share Capital - what's it's for, difference vs Savings, can it be withdrawn, etc. Thus, in this issue of HPP SCOOP, we will discuss All About Share Capital.

Cooperative Share Capital is similar to, but not the same as, stocks in a corporation. In a corporation, voting power is proportional to the number of stocks held. While in a cooperative, every member only has one vote no matter the amount of his or her share capital. This is what is known in coop parlance as "one member, one vote" and is really the starting point for an understanding of how cooperatives operate. 

Cooperatives are formed by and for members to serve their common goal. The "one member, one vote" system ensures that coops act only in the best interest of the general membership. In a cooperative, no single person or group can control the votes on important matters and direction the cooperative will take. So whether you have P500.00 or P500,000.00 share capital, in a cooperative, you have the same influence as everybody else, i.e. one vote.

This is what makes cooperatives unique.

Difference between Share Capital and Savings Deposit

Share Capital is your mandatory fixed investment in the cooperative and can only be withdrawn upon cancellation of membership. It earns dividends and has a par value of P100.00 per share. Dividends vary depending on the performance of the cooperative. Previous years' dividend rates were between 3-5%. The minimum Share Capital subscription is 200 shares or P20,000.00 which can be paid through capital build-up of at least P500.00 per month.

Can I stop my monthly Share Capital Build-Up?

Yes. After completing the minimum Share Capital of P20,000.00, the monthly share capital build-up becomes optional.  However, please note that the amount of your paid-up share capital affects your maximum loanable amount from the Coop (please refer to the Credit Policy for more info).

Is there a maximum Share Capital?

The current Share Capital Policy sets a maximum of P500,000.00 share capital per member. Once the P500,000.00 cap is reached, contributions automatically stop or can go to Savings Deposit. This is again linked to the objective of giving equal opportunities for all members.

Savings Deposit, on the other hand, is similar to savings account in a bank. However, the HPP Savings Deposit has a lot higher interest rate than most banks (i.e. currently at 1.25% p.a.) and is tax-free. Many members also find the HPP Savings Deposit more flexible vs Share Capital because Savings Deposit is withdrawable anytime even without cancellation of membership. 

Know your Share Capital Contributions

You can check the status of your share capital simply by accessing the HPP Mobile App (available from Google Play or the App Store). Please note that data is updated monthly.

Your share capital is your ownership in the cooperative. We use the share capital to run the business of the cooperative. As members, we are also the main customer of the cooperative. Thus, your patronage of our productgs and services determines our net surplus (income) and how much dividend we get at the end of the year.

Your support is very much appreciated and if you have further questions about Share Capital or if you have any topics your want us to cover in the next issue of HPP SCOOP, please feel free to let us know. 

Congratulations on our 6th Anniversary!

We've come a long from our humble beginnings on August 27, 2014 when we started with just 20 founding members and P64,000.00 Share Capital. Today, we've grown to more than 1,200 members with more than P50M in Capital and over P71M in Assets! We've released almost P150M in loans and helped hundrends of members! Truly quite an accomplishment in just 6 years!

It's unfortunate that the coronavirus has taken the spotlight in our General Assembly and Anniversary this year. But with all your support, we'll continue to grow and be stronger. In the meantime, stay home, stay safe, and stay healthy.

Yours in the spirit of cooperation,

HPPEMC

Dahil sa Coop, kaya mo na!

As we continue to feel the effects of the pandemic, unemployment is at record levels. Although HPP Members may not be directly affected by this, some of their family members may not be as fortunate. Thus, the board has approved to offer a Specially-Low-Interest COVID Loan to all members who may need some financial assistance.

Loan Type: COVID Loan
Max Loan Amount: P20,000.00
Interest Rate: 0.37% per month for 12 months

If you would like to avail, please just download and submit the COVID Loan Form.

Notes:

1. All Regular and Associate Members in Good Standing are eligible to avail of the COVID Loan.
2. COVID Loan may only be availed once.
3. Other requirements remain the same per Credit Policy, e.g. tenure, comaker, etc.

We understand that P20k may not be enough for some but we hope that it can somehow help alleviate the impact of the pandemic. Other loan products are available if needed (e.g. Emergency Loan, Multipurpose Loan, etc.). 

Please stay home, stay safe, and stay healthy.