Terms and Conditions

1. Membership Requirements

Membership is open to individuals 18 to 60 years old who meet the cooperative’s eligibility criteria. To apply for membership, the following requirements must be submitted:

  • Bio-data with 2x2 picture
  • Barangay Clearance
  • TIN Number
  • Two (2) valid government-issued IDs

Completion of the free Membership Seminar

Payment of the ₱2,000 membership fee

To remain an active member, you must:

  • Comply with the cooperative’s bylaws, policies, and financial obligations.
  • Maintain updated and accurate personal information.
  • Sustain participation in cooperative programs, including meetings.

2. Contribution Requirements

Members are expected to provide regular capital contributions, such as monthly deposits or share capital payments. These contributions:

  • Maintain the member’s active status.
  • Determine eligibility for loans, dividends, and benefits.
  • Support the cooperative’s growth, operations, and sustainability.

Loan eligibility requirements:

  • To qualify for any loan, a member must have at least one (1) year of active member.
  • Maximum loan amount is 50% of Share Capital.

3. Responsibilities and Rights

As a Member, You Agree To:

  • Make regular and timely capital contributions.
  • Support the cooperative’s mission, programs, and operations.
  • Follow all policies, bylaws, and financial commitments.
  • Participate in cooperative governance such as voting, meetings, and seminars.

As a Member, You Are Entitled To:

Access to cooperative services such as Regular Loans, Emergency Loans, and Car Loans.

  • Receive updates regarding financial status, decisions, and developments.
  • Fair and equal treatment under cooperative principles.

4. Policy Updates & Agreement Scope

These Terms and Conditions, along with the Cooperative’s Articles of Cooperation, Bylaws, and all Board/Management-issued policies, form the full agreement between LGTSMPC and the member.

By continuing your membership, you agree to:

  • Follow any future amendments or updates to these governing documents.
  • Stay informed through official communication channels such as email.

5. Privacy, Support, and Contact Details

By joining LGTSMPC, you agree to the cooperative’s Terms and Conditions and Privacy Policy, governing the protection and proper use of your personal information.

  • Your data is used only for legitimate organizational purposes.
  • Your information is stored securely and handled with confidentiality.

For questions, clarifications, or support, contact:

  • Administrative Head: Mrs. Nikki Pamella Q. Acleta
  • Office Address: Brgy Kilib, Lucban, Quezon
  • Email: Lucbangenesis@gmail.com

6. Guidelines for Delinquent Loan

A member becomes delinquent when they fail to pay their loan on or before the scheduled due date.

Delinquency Guidelines:

  • Penalty charges apply (₱1 per day, as per cooperative policy).
  • The member must settle overdue balances to restore Good Standing.
  • Once fully updated, loan privileges and benefits will be reinstated.