Capital contribution represents ownership interest by the members in the Association.
Classification of Capital Contribution
Fixed Capital Contribution (FCC)
The portion of member’s capital contribution that must be maintained and once increased and recorded, cannot be reduced for the duration of membership. Upon membership, every member is required to contribute FCC of at least P1,000.00, the minimum capital contribution, and may be increased up to the ceiling indicated as follows:
- Primary Member PHP100,000
- Secondary Member PHP1,000
Capital Contribution Buffer (CCB)
The capital contribution in excess of the FCC which should not exceed ten times thereof and the ceilings are as follows:
- Primary Member PHP1,000,000
- Secondary Member PHP10,000
Acceptance of Capital Contribution
Members who have not yet reached their maximum ceiling may increase their capital contribution through the following:
Monthly Automatic Transfer
- Monthly transfer of P4,000
- For primary members with less than P1,100,000 capital
- For secondary members with less than P11,000 capital
- Transfer: every 1st day of the month and must stay in savings account for 30 days
Lump Sum Credit for Retirees
- Maximum of P200,000 subject to the P1.1M ceiling and years of service in the company
- Within 60 days upon retirement date
- Must accomplish form
- Transfer: 1st day of the following month
SUKI Transfer
- For members with Capital Loan, Special Purpose and CLMT with 5 years to pay
- Minimum Loan amount of Php100,000.
- Quarterly transfer of P3,000
- For primary members with less than P1,100,000 capital
- For secondary members with less than P11,000 capital
- Transfer: every 1st day of the month
Withdrawal of CCB
Withdrawal from CCB shall be made through the presentation of duly accomplished withdrawal slip together with the passbook subject to the guidelines being implemented on regular savings deposit withdrawal.
Earning of Capital Contribution
Capital Contribution earns dividend based on the Association’s annual income subject to approval of Bangko Sentral ng Pilipinas. Members’ dividends are credited to their Regular Savings Deposit. CCB withdrawn before dividend cut-off earns interest based on regular savings prevailing rate. Dividend and interest earned by the capital contribution are tax exempt.
Termination of Membership
Upon termination of membership, Capital Contribution shall cease from earning dividend and interest hence, must be withdrawn immediately. If unclaimed, a monthly maintenance fee shall be deducted therefrom.
