Products and Services
OUR MAIN STARTUP OBJECTIVES
Deposit Products
Regular Savings Deposit, Savings Time Deposit, Compulsory Savings
Loan Products
Emergency Loan, Educational Loan, Regular Loan, Salapi Loan, Motorcycle Loan
DAMAYAN PROGRAMS
EXTENDED DAMAYAN
To encourage thrift and savings among members
To encourage members to pool their resources into a common fund, to maximize returns in Savings, support stability of services and benefits
To provide valuable exigent financial and loan services such as - salary, medical, emergency, educational, travel, car and housing loans – among others
ACCREDITED SECURITY AGENCY- GUARD SALARY LOAN PROGRAM
AMORTIZATION OF LOANS
Amortization of loans are made through salary deductions every 15th and 30th payday. Payments through post-dated checks are not allowed. Deficiency in payments will be auto- charged to their savings deposits. A member who incurs two (2) deficiencies will be allowed to borrow up to 150% only of his share capital and savings deposit, upon renewal of his loan. A member who incurs three (3) or more deficiencies will be allowed to borrow up to 100% only of his share capital and savings deposit upon renewal of his loan.
EMERGENCY LOAN
Presently a member can avail an emergency loan in the amount of Twenty Thousand (P20,000) Pesos for emergency purposes. The loan may be paid in one time lump-sum payment after a period of six months or in installment basis not to exceed twelve months. If the emergency loan is not paid upon maturity date, the delinquent member can borrow only fifteen (15) Thousand when he/she renews his/her emergency loan. A member who fails to pay his/her emergency loan upon maturity will be subject to the following sanctions:
UNSECURED LOANS
In addition to the regular loan of P25,000-75,000, the following are the unsecured loans available to qualified members:
SHARE CAPITAL INSTALLMENT PLAN-LOAN
The objective of this loan is to encourage members to update and Build-up their share capital at the soonest or earliest time after membership, become eligible for LOANS; and to increase the capital of the cooperative.
MOTORCYCLE/(motor) Tricycle LOAN
The loan facility is offered exclusively for tricycle divers/driver-operators who intend to purchase a brand new or used tricycle unit or just the motorcycle unit. Depending on the unit to be purchased, loans extended by PSIPAGCC ranges from P20,000 to P50,000 with maturity of up to 2 years for brand new and 18 months for 2nd hand. Interest rate is also fixed at 24% per annum – a far cry from the 20% per month burden imposed by the loan sharks. Financing for registration/franchising and licensing of the tricycle unit are also available under the facility with up to maximum P5,000 loans payable in 1 month.
"SALAPI" CASH ADVANCE LOAN, and “SANKABAN” RICE LOAN
This Loan is specifically intended for Cash Advances of 2,000 up to a maximumof 5,000 This sub-type of Consumer Loan is intended for rice only.
Products and Services
AMORTIZATION OF LOANS
Amortization of loans are made through salary deductions every 15th and 30th payday.