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The Cooperative has 2 types of membership, namely: 1. The Regular membership of the Cooperative is open to any natural person, Filipino citizen, of legal age, with capacity to contract, and has the following qualifications: a) Completed the prescribed pre-membership education training; b) Undertake to uphold the By-laws, policies, guidelines, rules and regulations promulgated by the Board of Directors and the General Assembly. A Regular member is one who is entitled to all the rights and privileges of membership while an Associate member is one who has no right to vote and be voted upon and shall be entitled only to such rights and privileges of the Cooperative. 2. The Associate membership of the Cooperative is open to any natural person, Filipino citizen, of legal age, with capacity to contract, and has the following qualifications: a) Completed the prescribed pre-membership education training; b) Undertake to uphold the By-laws, policies, guidelines, rules and regulations promulgated by the Board of Directors and the General Assembly. Share Capital Contribution Five hundred pesos (Php 500.00) per share 1. Associate Member Contribution 1 to 59 shares Php 500.00 to Php 29, 500.00 2. Regular Member Contribution 60 shares Php 30,000.00 and above An applicant for a Regular Membership must undergo with the requirements provided in the By-laws of this cooperative. The applicant may opt for the following mode of payments: 1. Full Payment | Membership Fee | Php 250.00 | | Contribution | Php 30,000.00 | | TOTAL | Php 30,250.00 | 2. Monthly Installment | First Month: | | | Membership Fee | Php 250.00 | | Contribution | Php 7,500.00 | | TOTAL | Php 7,750.00 | | | | | Succeeding Months: | | | 2nd to 11th Month | Php 2,045.45 | | 12th Month | Php 2,045.50 | 3. Quarterly Installment | First Quarter: | | | Membership Fee | Php 250.00 | | Contribution | Php 7,500.00 | | TOTAL | Php 7,750.00 | | | | | Succeeding Quarters: | | | 2nd to 4th Quarter | Php 7,500.00 | However, the applicant who opted for monthly and quarterly installment will be entitled to all the rights and privileges of a Regular Member upon completion of the required share capital contributions as per stipulated in the P14 MPD Cooperative By-Laws.
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