DACCO MPC

A loan given to members for their personal consumption 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 not more than ₱20,000, payable within a maximum of 12 months.

• No past due in all loans

• ₱5,000 and below – 3 months to pay
• Above ₱5,000 to ₱10,000 – 6 months to pay
• Above ₱10,000 to ₱15,000 – 8 months to pay
• Above ₱15,000 to ₱20,000 – 12 months 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

A 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.

• An applicant must be a regular member of the cooperative for at least one (1) year with minimum share capital of at least P20,000.00.
• An applicant must be in good credit standing.
• The borrower must be in good health; and age must not be 65 years of age on maturity date of the loan.
• The loan shall be secured by mortgage on real property.
• The property to be offered as collateral is located preferably within the area of operation of DACCO MPC.
• 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 been in the borrower’s possession for the past three (3) years, evidenced by tax receipt payments and other documentary evidence. The title/tax declaration must be free from any liens and encumbrances.
• 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.
• The properties indicated below shall be accepted as loan collateral:
  • Properties owned and in the name of the member-borrower;
  • Properties owned singly by the spouse of the member-applicant or other person who 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.
  • 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.
  • 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.
• The properties indicated below shall not be accepted as loan collateral:
  • Properties affected by road widening projects;
  • Properties inaccessible from the roads and highways;
  • Considered as public land, open space or street;
  • Properties involved in a land case or writ of attachment.
• 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.
• 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.

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 following: PLDT, MERALCO, Water Bill, Credit Cards)

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

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

A loan provided to DACCO MPC members who are facing financial crisis due to hospital confinement of the member or his/her qualified relative.

• Member in good credit standing regardless of length of membership.

• Total hospital bill and related expenses (subject to limitations and collateral).
• For first-time borrowers (Regular or Associate): up to total share capital and deposits only.
• For Associate Members: lesser of (a) total hospital bill and related expenses or (b) 1.5x share capital and deposits minus outstanding loans.

• If borrower is the patient: 30-day grace period starts from hospital discharge date; first amortization due on 60th day.
• If no discharge proof: grace period starts from loan release date.
• No grace period if patient is not the borrower.

• 0.5% of loan amount; no Capital Build-Up (CBU) deduction.

• 0.5% per month during term
• 1% per month beyond term until full payment

• Member
• Spouse or common-law spouse
• Parent, parent-in-law, children, or minor sibling living with member

• Proof of hospitalization
• Hospital bill and proof of related expenses
• Proof of relationship (if patient is spouse or relative)
• Proof of cohabitation (if patient is common-law spouse)
• Proof of income
• If secured by real property – refer to Real Estate Mortgage Loan requirements
• If secured by chattel mortgage – refer to Chattel Mortgage Loan requirements
• If secured by pledge/pawn – loanable up to 70% of appraisal value

If borrower is the patient:

• Unsecured portion ≤ Php100,000:
  • Two (2) co-makers in good credit standing
  • Borrower must be insured or DKKM member if uninsurable
• Unsecured portion > Php100,000:
  • Borrower must be insured or DKKM member
  • Submit one or more of:
    • Real estate mortgage – up to 65% of appraised value
    • Chattel mortgage (vehicle) – up to 70% of appraised value
    • Pledged jewelry/personal property – up to 90% of appraised value

If borrower is not the patient:

• Unsecured portion ≤ Php100,000:
  • Borrower must be insured or DKKM member
  • Two (2) co-makers in good credit standing or issue Post-Dated Checks
• Unsecured portion > Php100,000:
  • Borrower must be insured
  • Issue Post-Dated Checks
  • Submit one or more of:
    • Real estate mortgage – up to 65% of appraised value
    • Chattel mortgage (vehicle) – up to 70% of appraised value
    • Pledged jewelry/personal property – up to 90% of appraised value

• Loan may be availed only during hospital confinement.
• Discharge slip required to trigger grace period start date. If not submitted, grace period starts from release date.

A member in good credit standing is one whose loan is current or not past due beyond 3 months.

Unsecured portion refers to the loan amount that exceeds the total share capital and deposits of the borrower.

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)