Savings Deposit
Regular members who are willing to abide by the rules and regulations set by the cooperative.
Initial amount of deposit – Php500.00
Minimum deposit to earn interest – Php 1,000.00
 Maintaining Balance – Php1,000.00
 Interest rate (computed quarterly) – 1.5% p.a
 No monthly charges
 Interest earned is not subject to withholding tax
Regular members who are willing to abide by the rules and regulations set by the cooperative.
Initial amount of deposit – Php 500.00
Minimum deposit to earn interest – Php 1,000.00
Maintaining Balance – Php 1,000.00
Interest rate (computed quarterly) – 1.5% p.a
No monthly charges
Interest earned is not subject to withholding tax
Members of Cordova Multipurpose Cooperative Youth United Laboratory Cooperative ( YU LABCO )
Membership Fee – Php 15.00
Share Capital – Php 30.00
Initial amount of deposit – Php 50.00
Minimum deposit to earn interest – Php 1,000.00
Maintaining Balance – Php 50.00
Interest rate (computed quarterly) – 1.5% p.a
No monthly charges
Interest earned is not subject to withholding tax
The depositor must be a regular member of CORDOVA MULTIPURPOSE COOPERATIVE (CMC) with a paid-up share capital of at least Five Thousand Pesos (Php 5,000).
Minimum amount of Time Deposit is Twenty Thousand Pesos (P20,000.00)
One of the products and services offered by CMC to its members is the Time Deposits (TD). These are interest bearing deposits that have a specified date of maturity. Interest is not subject to withholding tax.
The interest rates per annum for these Time Deposits are:
| Amount | 3-5 Months | 6-11 Months | 12 Months |
|---|---|---|---|
| 20,000 – 50,000 | 2.5% | 3.5% | 4.5% |
| 50,001 – 200,000 | 3% | 4% | 5% |
| 200,001 – 500,000 | 3.5% | 4.5% | 5.5% |
| 500,001 up | 4% | 5% | 6% |
The above rates are subject to revisions by the board of directors based on the prevailing market rates in banks, treasury bills and in other co-ops.
Old time deposits enjoying the interest rates offered before the effectivity of the above rates can still enjoy the same rate provided that they will not withdraw their time deposit and will just renew their time deposit in our cooperative with the same principal amount.
Any fresh funds added as time deposit will be subjected to the prevailing interest rates.
Interest accrued monthly and paid upon maturity
If the time deposit is withdrawn before maturity
The rate for savings deposits will apply if the holding period of the time deposit upon termination is less than Three(3) months.
The rates as indicated in the table above will apply if the holding period of the time deposit upon pre-termination is more than or equal to Three(3) months.