CAPITAL CONTRIBUTION ACCOUNT
Deposit account where the Capital Contribution or member’s share in the capital of the Association is maintained.
MANDATORY REQUIREMENT for all members and prospective members
Minimum / Initial Deposit - PhP 1,000.00
Deposit Limits (Determined by the Board of Trustees)
• Maximum deposit per month
→ Maximum deposit per member (Regular) – PhP 3,000.00
→ Maximum deposit per member (Associate) – PhP 2,000.00
• Maximum aggregate deposit per family group (Regular & Associate) – PhP 17.0M
Capcon Buffer – amount that can be withdrawn anytime
CapCon Balances should not go below the following:
• Minimum Deposit – P1,000.00
• Fixed CapCon – equivalent to the highest balance from opening of the account divided by eleven.
• Held out amount for back to back loans
• declared annually upon approval by the Bangko Sentral ng Pilipinas (BSP)
• computed based from the lowest balance of the quarter at 18% or at a rate prescribed by the Board.
• posted to the member’s DSD Account
Advance Payment for Share in Future Income (APSFI) or Advance Dividend
• A cash advance over the dividend given as a financial assistance to members who have applied and released in July every year.click here to download APSFI Form
• Amount shallbe computed based from the CapCon Balance of the member multiplied by a rate to be determined by the Board of Trustees.
• Proceeds shall be credited to the member’s SDA account.
• Amount of APSFI shall be deducted from the dividend of the member
FEES AND OTHER CHARGES
LOST PASSBOOK FEE - P200
LBP SERVICE CHARGE – to be charged for withdrawal that are deposited to the member’s LBP ATM Account. Paid directly to Landbank and shall be deducted from the total deposits. DOCUMENTATION
Members shall be issued a PASSBOOK as a proof of their deposits and to record all transactions or movement in theirCapCon Account.
WITHDRAWAL OF APSFI proceeds shall be done using the SDA Withdrawal Slip