CBU Account
Polices on Continuous Subscribed Share Capital
- Pay the initial capital build-up of five thousand pesos(Php5,000.00)
- Regular members of the cooperative must pay the amount of five hundred pesos (Php500.00) per month as continuou: Subscribed Share Capital.
- 1% retention from the approved salary loan.
- Any coop member desires to terminate his membership by withdrawal must notify the Board of Directors thru writing, however members is not allowed to withdraw his/her membership and share capital if he/she have a pending obligations with the cooperative.
- A member whose membership is terminated shall be entitled to a refund of his/her share capital contribution. However, such refund shall not be made if upon payment the value of the assets of the cooperatives should be less than the aggregate amount of its debts and liabilities exclusive of his/her capital contribution.
- In case of loss of passbook, notify the coop at once. An affidavit of loss is required. Payment of one hundred pesos (100.00) for new passbook.
- A member who desires to withdraw his/her membership can sell his/her capital share to any interested members, teachers, and retirees within the area of operation.
Who are qualified to become a CITERMPCO member?
- Teachers, Employees and Retirees of Department of Education, Division of Sultan Kudarat
- Comply the prescribed pre-membership education seminar
- Residing within and adjacent area of operation
What are the requirements for membership?
- Approved application for membership.
- Certificate of completion of the prescribed Pre-Membership Education Seminar (PMES).
- Subscribed and paid the required minimum share capital and membership fee.
- Certification of the immediate superior that he/she is employed within DepEd, Division of Sultan Kudarat.
