What types of membership does Ayala Coop have?
There are three (3) types of Coop membership namely:
- Regular – Regular/permanent employees who are employed in an Ayala company
- Associate – Regular members, who are retired or resigned, with good credit standing and would like to continue their Coop membership
- Associate Project – Project employees directly hired & with at least one (1) year continued service in an Ayala company. For contract/engagement after completion of the first year, the direct hire is still eligible for as long as the remaining term of contract is at least eight (8) months
How does one become a member of the Coop?
- One has to be an employee of an Ayala company (Ayala should at least have a 20% ownership)
- Fill out the Membership Application Form and send the scanned copy of your accomplished form to the Coop’s Customer Service email address, firstname.lastname@example.org
- Share capital contribution will be deducted from your payroll semi-monthly
- A one-time Php 200 membership fee will be debited from your first payroll deduction
How much are the minimum and maximum amounts that a member can contribute or have as share capital?
One can contribute as low as Php100 per payday. Maximum amount at any one time is Php1Million (share capital)
How do you increase your investment?
- Fill out the Salary Deduction Authority Form to increase/decrease your semi-monthly payroll deduction / contribution and send the scanned copy of your accomplished form to our Coop’s Customer Service email address, email@example.com
- Over the counter deposit for share capital is only allowed to comply with the share capital requirement for loan purposes
- Decrease in share capital contribution is not allowed until loan is fully paid
Can employees who have resigned from Ayala Companies continue to be a member of Ayala Coop?
Regular members, who resigned or retired from an Ayala Company with good credit standing, are encouraged to continue their Coop membership as an Associate. By being an Associate Member, you will still enjoy the high dividends on your share capital, tax free, avail of various loan products (90% of your share capital) and earn the corresponding patronage refunds, not to mention the benefits resulting with tie-ups with Ayala Companies and other strategic partners
Who are eligible to borrow from the Coop?
Coop members who complied with the required tenure, share capital and net cap will be eligible to borrow
How does one apply for a loan?
Loan application/s can be done online through Membership & Loans Management System (MLMS) or manually by submitting the accomplished loan application form to your HR Coordinator for net cap approval
How much can a member borrow?
The loan amount depends on the loan eligibility set by the internal guidelines of each company in terms of net cap and loan eligibility
How profitable is your investment?
Historically, the Coop has declared tax-free dividends relatively higher than market rates
Who are entitled to Dividends and Patronage Refund?
All Coop members are entitled to dividends subject to certain conditions:
- No unpaid loan installments
- Share capital not under the suspense account category
- Membership termination is between July – December
All Coop members who avail of a loan facility are entitled to Patronage Refund subject to the same conditions as those for Dividends
What should I do in the event I want to terminate my Coop membership?
- Fill out the Membership Termination Form and send the scanned copy of your accomplished form to our Coop’s Customer Service email address, firstname.lastname@example.org, together with a copy of your 1 valid ID
- Partial withdrawal is not allowed
- Since termination completely ceased the relationship with the Ayala Coop, all outstanding loans becomes due and demandable
When does one get his/her share capital refund?
One shall get back his/her share capital seven (7) working days from receipt of last remittance, net of all outstanding loans
How to make transfer/deposit of any amount of share capital to Ayala coop?
You can make additional contribution through BPI Expressonline or over the counter. Using the Bills Payment Facility, please ensure that you choose the correct company name, AYALA MULTI-PURPOSE COOPERATIV(AMPC2) and indicate 123456SHAR* (Your 6-digit Membership ID Number+SHAR) as your reference number.
You can advise us, through email@example.com, one day after you made the deposit so we can provide you with email confirmation.
*sample membership ID number only
If member transfers to another Ayala company
As regular permanent employee the member needs to advise Ayala coop’s customer service and upon receipt of transfer advise both share capital and loan balance will be transferred to the new company
In the event of Member’s Death
Member’s share capital & other coop benefits (net of outstanding loan balance) shall be released to the beneficiary indicated in the membership form upon presentation of required documents
What happens if and when after offsetting the share capital, there is still a loan balance?
We will prepare a Statement of Account (SOA) and member to discuss with Ayala Coop his/her options on how to fully pay the balance
Can a member who has terminated his/her membership reapply?
Regular members who terminate their Coop membership but continue to be employees of the Ayala Group may re-apply (3) months after his/her membership termination
No re-application is allowed for any member who terminated for a second time