Frequently Asked Questions
How to become a member of Caniogan Credit and Development Cooperative?
1. Fill out the membership application form
2. Attend the pre-membership seminar (PMES)
3. Submit the necessary requirements:
a) 1 valid ID
b) Birth certificate if single / live in, marriage contract if married
c) Barangay clearance
d) Pay slip/remittance slip
e) Electric and water bill
f) 2 pcs. 2×2 pictures.
4. Pay the required membership fee of one (P100.00) pesos, which shall be refundable in case of disapproval of application for membership.
5. Upon approval of membership application, the member shall subscribe to a minimum of ten (10) shares at one hundred pesos (P100.00) par value with a total value of one thousand (P1,000.00) pesos. The member also required to open a savings account and prime deposit account with minimum amount and maintaining balance of one hundred (P100.00) pesos each.
Why choose Caniogan Coop?
The credibility of Caniogan Coop as a trusted cooperative is backed by its decades of untiring service to the Bulakenyos. Its sustainability, resilience and heart to serve are exemplified through its low-rates and fast financial transactions for its members; making it a friendly & trusted cooperative especially when facing tough financial challenges. Moreover, its unwavering efforts to nurture relationships can be felt strongly with its line-up of highly credible bank and insurance affiliates.
As you become a family with us, you will be an official co-owner & co-contributor to your secure financial future and to the cooperative’s success as a whole.
Why should I invest my money in Caniogan Coop?
We are committed to nurturing the trust of our beloved members, that is why all our efforts are directly inclined to securing their financial future. We operate with a highly-reputable set of officers, highly-credible affiliates, and well-equipped technologies to ensure the safety of your investment and fast transactions when you need it. In addition, our deposit services offer higher interest rates than most banks and other fellow cooperatives so you can get the most out of your hard-earned money for your loved ones.
Why TIN ID is important?
Your TIN ID is necessary for you to acquire your dividends from the cooperative.
Is the pre-membership education seminar required for all incoming regular members?
Yes, Pre- membership education seminar is requisite for all incoming regular member.
What are the duties and responsibilities of CCDC regular member?
- Pay the installment of his/her share capital subscription as it falls due, to participate in the capital build up program and savings mobilization activities of the cooperative.
- Patronize the cooperative’s businesses and services.
- Participate in the membership education programs.
- Attend and participate in the deliberation of all matters taken during the General Assembly.
- Observe and obey all lawful orders, decisions, rules and regulations adopted by the Board of Directors and the General Assembly.
- Promote the purposes and goals of the cooperative, the success of its business, the welfare of its members and the cooperative movement in general.
What is patronage refund?
It is a rebate on interest you paid on your loan in the cooperative.
What is share capital?
It refers to the capital contribution or fixed deposit of individual members to the funds of the cooperative.
How to apply for the Real Estate Mortgage Loan?
Step 1: Go to Caniogan Coop’s office and fill out the loan request form.
Step 2: Loan Officer of Caniogan Coop will inform the member-borrower the documentary requirements of the loan, as follows:
a. Owner’s Duplicate copy of title.
b. Certified true copy of title;
c. Original copy of tax declaration (updated);
d. Real property tax receipt (latest);
e. Tax clearance;
f. Location plan and vicinity map;
g. Pictures of property
h. BIR tax identification number
Step 3: Once the required documents are completed and submitted, we can now lodge the loan application. Our staff will appraise the property to determine its fair market value;
Step 4. After the loan request and appraisal report was reviewed and approved by the General Manager, the loan officer will ask member-borrower to get fire insurance and to issue post-dated cheques equivalent to his/her monthly installment amortization (if applicable);
Step 5: Signing of Real Estate Mortgage Contract, promissory note and other documents. Loan officer or Branch Manager will schedule the release date of the loan.