DACCO MPC

A loan given to members for their personal needs or use.

• 1 co-maker for associate borrower (must be a regular member)
• 2 associate co-makers can also be acceptable
• 2 co-makers for regular borrower
• The share capital of the co-maker/s must be equivalent to the exposure
• Proof of income
• Business permit and pictures of business (if applicable)
• Post-dated checks (if required)

A loan given to members who are elected barangay officials, barangay employees, or company employees.

• Co-makers for barangay: Barangay Treasurer and Barangay Chairperson
• Co-makers for company: Company Owner and Designated Payroll Staff

A loan given to members with a registered business permit. With Post-Dated Checks (PDC). A Php50.00 holding fee per day shall be charged for checks held after the grace period.

• Mayor’s Permit
• Latest Audited Financial Statement
• Latest Bank Statement
• Post-Dated Checks (PDC) upon release of loan
• No past due in all existing loans
• Conduct Credit Investigation (CI)
• Business permit and pictures of business (if applicable)

A loan given to members with an existing business that lacks the necessary requirements to avail of the Business Loan.

• Business must be existing within area of operation
• No past due in all loans
• Conduct Credit Investigation (CI)
• No co-maker

• Up to 6 months – ₱20,000, monthly basis payment
• ₱50,000 – ₱156 daily payment

A loan given to members who want to purchase appliances, gadgets, bikes, furniture and fixtures, and similar items. No grace period.

• Quotation from the store (if not yet purchased). After loan release and item purchase, submit a photocopy of the receipt to the office.
• Original Receipt (if already purchased). Present to the office within 7 days to be considered valid.
• No past due in all existing loans
• No existing appliance loan
• Co-maker/s — their share capital must be equivalent to the loanable amount
• Proof of income
• Business permit and pictures of business (if applicable)

A loan given in case of emergency brought about by any of the following:

• Hospitalization of the member or immediate family (spouse, children below 18 years old and single, parents and siblings below 18 years old, single, and dependent on the member)
• Out-patient cases needing immediate medical treatment (e.g., animal bites, injuries, etc.)
• Death of an immediate family member
• Natural calamity such as fire, typhoon, or flood requiring immediate financial assistance

• Proof of medication / hospitalization / death certificate and other related medical documents

A loan given to members to pay for utility bills and other payables.

• Original or photocopy of bill or official receipt (OR) as proof of payment (within 7 days)
• No past due in all loans

A loan given to members for the enrollment needs of their beneficiaries, such as tuition and miscellaneous fees. Eligible beneficiaries include:

• Member of the Cooperative
• Children of the member
• Grandchildren residing with the member
• Niece or nephew residing with the member
• Brother or sister residing with the member
• Stepchildren of the member

• Birth certificate of the beneficiary
• Assessment fees from the school
• Proof of enrollment
• Original receipt
• With co-maker/s on the exposure
• No past due in all existing loans
• No existing educational loan

• Elementary / High School – Up to 10 months
• College – Up to 5 months
• Tri-sem / Quarter-sem – Up to 3 months

a loan availed by a qualified member who is in need of cash of not more than P50,000 to be payable within (12) months. No grace period.

• No past due in all loans

• 5k and below – 3mons to pay
• above 5k to 10k – 6mons
• above 10k to 15k -8mons to pay
• above 15k to 50k – 12mons to pay

Can be availed by members with small businesses.

• At least 1 co-maker
• Conduct Credit Investigation (CI)

A loan given to members who were affected by calamities such as typhoon, fire, and flood.

• Proof of damage
• Endorsement from Barangay / Calamity Certificate from Barangay
• Proof of income
• Business permit and pictures of business (if applicable)

A loan given to members who want to travel locally and abroad.

• Plane, bus, or ship tickets
• Hotel accommodations (upon return)
• No past due in all existing loans
• No existing Travel Loan

A loan given to officers and members who will be attending out-of-town training, seminars, and Lakbay-Aral of the cooperative.

• Original Receipt (if already paid)
• Certificate of Attendance
• Written report to the BOD on learning outcome
• No co-maker
• No existing Educational Travel Loan

A loan given to a Senior Citizen or Regular or Associate Member who is receiving pensions.

• ATM
• Co-maker/s

Loan given to a member whose membership is at least one (1) year and with share capital of at least Php50,000.00. Must be supported with post dated checks (PDC). A Php50.00 holding fee per day shall be charged for checks held after the grace period.

• 1. An applicant must be a regular member of the cooperative for at least one (1) year with minimum share capital of at least P50,000.00.
• 2. An applicant must be in good credit standing.
• 3. The borrower must be in good health; and age must not be 65 years of age on maturity date of the loan.
• 4. The loan shall be secured by mortgage on real property.
• 5. The property to be offered as collateral is located preferably within the area of operation of DACCO MPC.
• 6. The collateral property shall preferably be one registered under the Torrens Title System. The real property which is covered by tax declaration only may be accepted as loan collateral if it had in the borrower’s possession for the past three (3) years to be evidenced by the tax receipt payment and other documentary evidence. The title/tax declaration must be free from any liens and encumbrances.
• 7. The land title/tax declaration must be free from any liens and encumbrances, except those land titles still in the bank or other lending institutions to secure the outstanding loan obligation which will be subject of the application for loan takeout by the borrower.
• 8. The properties indicated below shall be accepted as loan collateral:
  • 8.1 Properties owned and in the name of the member-borrower;
  • 8.2 Properties owned singly by the spouse of the member-applicant or other person which is not a member of DACCO, provided the said spouse or other person shall apply for membership with the cooperative. Once accepted as member of the cooperative, the property can be accepted as loan collateral and the spouse shall act as co-borrower.
  • 8.3 Properties which are not owned by the member may be accepted as collateral, provided the owner shall execute a Special Power-of-Attorney authorizing the member-borrower to mortgage their property.
  • 8.4 Real properties covered by free patent shall be accepted as collateral provided that the patent is more than five (5) years from date of granting and the land owner submits a written consent from the Secretary of the Department of Environment and Natural Resources or his duly authorized representative and provided further that either item numbers 7.1, 7.2 or 7.3 shall be complied.
• 9. The properties indicated below shall not be accepted as loan collateral:
  • 9.1 Properties affected by road widening projects;
  • 9.2 Properties are inaccessible from the roads and highways;
  • 9.3 Considered as public land, open space or street.
  • 9.4 Properties involved in a land case or writ of attachment.
• 10. The borrower shall be covered by a Mortgage Redemption Insurance (MRI) to ensure the payment of borrower’s loan in the event of death before the loan becomes due and any improvements shall be insured if the value of the lot is not sufficient to secure the loan obligation. The beneficiary of the insurance policy shall be the cooperative.
• 11. The Cooperative shall foreclose the collateral property when the loan becomes past due and after serving/sending the required notices. There must be proof of receipts of all the notices served/sent to the borrower.

• A. General requirements
  • Owner’s Copy of land title
  • Certified xerox copy of land title from the Register of Deeds.
  • Certified true copy of Tax Declaration of the lot.
  • Certified true copy of Tax Declaration of the improvements or Certificate of No Improvement
  • Latest Realty Tax Receipts
  • Real Property Tax Clearance
  • Location Plan/Vicinity Map
  • Marriage Contract, if married
  • Tax Identification Number (TIN)
  • 2x2 picture of the borrower, spouse and co-borrower/guarantor
  • 2 Valid ID’s with signature of the borrower, spouse and co-borrower/guarantor
  • Proof of billing (any of the ff: PLDT, MERALCO, Water Bill, Credit Cards)
• B. For Employed borrower
  • Certificate of Employment with Compensation
  • Original copy of pay slips for the past two (2) months (optional)
  • Statement of Assets, Liabilities and Net Worth (for government employee)
  • Income Tax Return duly stamped as received by the BIR for the past three (3) years
  • List of verifiable other income to justify the approval of the loan
  • Bank Statement (at least six months)
• C. For Self-employed/Sole Proprietor/Business Partner, whichever is applicable
  • Current Mayor’s Permit
  • DTI Registration
  • ITR for the past three years with Audited Financial Statements
  • Interim Financial Statement (current year)
  • Bank Statement (at least six months)
  • Business Plan/Feasibility Study with Projected Financial Statement (BS, IS & CFS)
  • LTO Registration of vehicle for PUV business
  • LTFRB Franchise for PUV Business
  • Contract of Lease showing term and monthly payment with proof of ownership of the property/ies for rental/apartment business.
  • List of other verifiable income to justify the approval of the loan.

• The loanable amount is from P50,000.00 and up but not to exceed 80% of the Current Appraised Value (CAV) of the real property/ies to be mortgaged.
• Proceeds of a loan shall be released only after its approval, in accordance with the terms of the loan; completion of the documentation requirements and the registration of the lien of the cooperative with the Register of Deeds.
• The cooperative shall not allow advance/s on approved loan.
• Release of loan proceeds shall be properly documented and duly acknowledged by the borrower or his/her duly authorized representative.
• The first release for loan granted for the construction of a residential house or commercial building shall be made upon 30% completion of construction, as verified by the cooperative. Succeeding releases shall be in accordance with the percentage of completion of the project being financed.
• The term of payment is from one (1) year to five (5) years payable in semi-monthly or monthly instalment. The borrower shall issue Post-dated-Checks (PDCs) corresponding to the amount and number of instalments to insure timely collection of loan repayments and the deposit account to which the said PDCs shall be drawn is owned and maintained by the borrower.

Loan given to a member whose membership is at least one (1) year and with share capital of at least Php50,000.00. Must be supported with post dated checks (PDC). A Php50.00 holding fee per day shall be charged for checks held after the grace period.

• Only regular members are qualified to avail.
• Member in good standing for at least two years, which means, continuously patronizing the products and services of the cooperative.
• With combined share capital and deposit of at least Php50,000.00 at the time of loan application.
• With gross monthly income of at least P50,000.00.
• With stable source of income from employment or business or with permanent allotment.
• If employed, at least 2 years with the present company.
• Self-employed or with business, at least 2 years of profitable years of business operation.
• For beneficiary, proof of allotment for at least 2 years.
• Co-maker/guarantor is required if the borrower does not meet the required minimum monthly income.
• Age limit shall be up to 55 years’ old.

General requirements

• Tax Identification Number (TIN)
• 2x2 picture of the borrower
• 2 Valid ID’s with picture and signature of the borrower
• Proof of current billing
• Latest bank statement (at least 3 months)
• Price quotation from the car dealer/seller
• 50% down payment

B. For Employed borrower

• Certificate of Employment stating the applicant’s position, income, and length of service in the company
• Original copy of pay slips for the past three (3) months
• Income Tax Return (ITR) from last year duly received by the BIR
• Statement of Assets, Liabilities and Net Worth (for government employee)
• List of verifiable other income to justify the approval of the loan

C. For Self-employed/Sole Proprietor/Business Partner, whichever is applicable

• Current Mayor’s Permit
• DTI Registration
• Audited Financial Statement with ITR for the past two years
• Interim Financial Statement (if available)
• LTO Registration of vehicle for PUV business
• LTFRB Franchise for PUV Business
• Contract of Lease showing the term and monthly payment with proof of ownership of the property/ies for rental/apartment business
• List of other verifiable income to justify the approval of the loan

A loan given to a member whose membership is at least one (1) year and with combined share capital and savings deposit of at least ₱20,000. Post-dated checks (PDC) are required if there is no co-maker/guarantor.

• Regular member in good standing for at least 1 year
• With capacity to pay
• With combined share capital and deposit of at least ₱20,000.00
• Gross monthly income of ₱15,000.00 with minimum net take-home pay of ₱3,000.00 (single) or ₱5,000.00 (married)
• Co-maker/Guarantor or post-dated checks required
• Age limit: up to 62 years old
• Must be enrolled in Group Life Insurance of DACCO MPC

• Tax Identification Number (TIN)
• Two (2) valid IDs with picture and signature
• Proof of current billing
• Price quotation from dealer/seller

• Certificate of employment with position, income, and tenure
• Original pay slips for at least three (3) months
• List of verifiable other income

• Current Mayor’s Permit
• DTI Registration
• Interim Financial Statement (if available)
• List of verifiable other income

• Contract of allotment
• List of verifiable other income

• Maximum of 90% of the purchase price or appraised value
• Excess must be shouldered by the borrower
• Loan amount released to the dealer after complete documents and release of OR/CR (if applicable)
• Payment terms: 1 to 3 years (monthly installments)
• Fees to be paid upfront or deducted: TPL Insurance, Chattel Mortgage, and other related fees

A loan given for the purchase of basic commodities and other necessities at the accredited stores of the cooperative.

• Purchase in DACCO products.

A loan provided to assist members with the payment of permits, taxes, licenses, and insurance for businesses and properties owned by the member or immediate family.

• Business Permits: Barangay and Mayor’s permits within the cooperative's area of operation
• Real Estate and Property Taxes: Taxes assessed on real and personal properties
• Vehicle Registration: Car license application and LTO fees
• Insurance: CTPL, comprehensive vehicle insurance, fire and general property insurance

• Term: 6 months to 1 year
• Interest Rate:
  • 9% per annum (diminishing) for 6 months
  • 21% per annum (diminishing) for 1 year
• Processing Fee: 1% of the total loan amount
• Additional Interest: 1% per month on unpaid loan after maturity
• Penalty: 2% per month on unpaid principal and interest after maturity

• Statement of Account for business permits, real estate tax, or car registration
• Official Receipt (if already settled within 7 days)
• Proof of Capacity to Pay (e.g., payslips, proof of allotment, profit and loss, etc.)

• Monthly repayment schedule
• Flexible due dates based on cash flow

• Up to ₱20,000.00 – No Co-Maker
• More than ₱20,000.00 – With Co-Maker

A loan given to members within his/her birth month.

• Loan form

A loan given to members within the month of their wedding anniversary and must be living together.

• Loan form

A loan given for every member who wants to purchase gadgets and the like.

• Quotation from the store (if not yet purchased). After loan release and item purchase, submit a photocopy of the receipt to the office.
• Original Receipt (if already purchased). Present to the office within 7 days to be considered valid.
• No past due in all existing loans
• No existing appliance loan
• Co-maker/s: The share capital of the co-maker/s must be equivalent to the loanable amount.

At least one year membership.

• Availed in DACCO

Policy on Hospitalization Assistance Loan (HAL) to members of DACCO MPC who are facing financial crisis due to hospital confinement of the member or his/her relative.

The salient features of this loan facility follow:

• - Member in good credit standing¹ - regardless of the length of his/her membership with DACCO MPC.

• - Total hospital bill and other related expenses - subject to the limitation and collateral requirements indicated in number 10 below.
• - For first time borrower, either Regular or Associate Member, the loanable amount is up to the borrower’s total share capital and deposits only.
• - For Associate Member, the loanable amount is the total hospital bill and other related expenses or up to 1.5 of the borrower’s total share capital and deposits less outstanding loan/s, if any, whichever is lower.

• - If the patient is the borrower, a 30-day grace period on the payment of the amortization, counting from the date of discharge from the hospital, shall be considered. In effect, the first amortization shall fall due on the 60th day from the date of discharge from the hospital. However, if no proof of discharge is submitted, the 30-day grace period shall start from the date of release of the loan. Interest shall not accrue or shall not be computed during the grace period.
• - If the patient is other than the borrower, the 30-day grace period shall not apply - or no grace period shall be given.

• - Processing fee is 0.5% of the loan amount - and no CBU shall be deducted.

• - 0.5% monthly interest using the diminishing method - 1% per month beyond the term until full payment

• -Member
• - Member’s spouse or common-law-spouse
• - Member’s relative (limited to parent, parent-in-law, children, or minor sibling living with the member-borrower).

• - Proof of hospitalization
• - Hospital bill and proof of other related expenses
• - Proof of relationship if the patient is the spouse or a relative of the member-borrower.
• - Proof of cohabitation if the patient is the common-law spouse.
• - Proof of Income of the borrower


• 2. For the loan to be secured by real property - refer to requirements of Real Estate Mortgage Loan
• 3. For the loan to be secured by Chattel Mortgage - refer to the requirements of Chattel Mortgage Loan
• 4. For the loan to be secured by pledge/pawn-in jewelries or other personal items of value, the loanable amount is 70% of the appraisal value of the jewelries or other personal properties.

• 1. If the borrower is the patient:
  • a). The following shall be required for the loan of more than the total share capital and deposits where the unsecured portion² of the loan is Php100,000.00 or below:
    • - Two (2) co-makers in good credit standing - and
    • - Borrower must be insured or must be a member of DKKM if no longer insurable.
  • b). The following shall be required for the loan of more than the total share capital and deposits where the unsecured portion of the loan is more than Php100,000.00:
    • 1. The borrower must be insured or must be a member of DKKM if not insurable - and
    • 2. Must execute/submit/surrender either of the following:
      • - Real Estate Mortgage of acceptable real property/ies with clean title/s - loanable amount is up to 65% of the current appraised value of the real property/ies, and/or
      • - Chattel mortgage of unencumbered vehicle/s - loanable amount is up to 70% of the current appraised value of the vehicle/s, and/or
      • - Pledge/pawn-in jewelry/ies or other personal property/ies of value - loanable amount is 90% of the current appraised value.
• 2. If the borrower is not the patient:
  • a.) The following shall be required for the loan of more than the total share capital and deposits where the unsecured portion of the loan is Php100,000.00 or below:
    • - The borrower must be insured or must be a member of DKKM if not insurable.
    • - Two (2) co-makers in good credit standing - or the borrower will issue Post-dated Checks.
  • b.) The following shall be required for the loan of more than the total share capital and deposits where the unsecured portion of the loan is more than Php100,000.00:
    • 1. The borrower must issue Post-Dated Checks.
    • 2. The borrower must be insured.
    • 3. The borrower shall submit/execute/surrender either of the following:
      • - Real Estate Mortgage of acceptable real property/ies with clean title/s - loanable amount is up to 65% of the current appraised value, and/or
      • - Chattel mortgage of unencumbered vehicle/s - loanable amount is up to 70% of the current appraised value, and/or
      • - Pledge/pawn-in jewelry/ies or other personal property/ies of value - loanable amount is 90% of the current appraised value.

NOTE: The other outstanding loan/s of the regular member-borrower shall not be considered in computing the loanable amount of this loan facility.

• - This loan can be availed while the patient-beneficiary is confined in a hospital - and also include emergency and outpatient admittance.
• - Submission of the Discharge Slip or proof of discharge from the hospital is required to determine the start of counting of the 30-day grace period. Non-submission of the proof of discharge - the 30-day grace period shall start from the release of loan.
• - For Emergency cases:
  • Medical report from the attending physician
  • Estimated Medical expenses from the Doctors
• - For Out-patient admittance:
  • * Statement of Account (SOA) from the hospital
  • * Official receipt(s) following the operation
• - Hospitalization loan application must be filed on or before the emergency admittance - and within one (1) week after the date of the operation for outpatient admittance to qualify for processing.

A loan given to members in times when he/she had a deceased immediate family member.

• Borrower must not have arrears on his/her existing loan for more than 6 months.
• Beneficiaries of this loan facility are the immediate family only, categorized as: parents/parents-in-law, siblings, spouse (as declared in the Membership Application), and children.
• Proof of income
• Business permit, pictures of business (if applicable)