Any user of our website is hereby bound by the privacy as stated below. If you are not comfortable with the privacy policy stated below, please be advised that you are using the site at your own risk, and are wholly responsible for any person using your computer to access it.
Your privacy is important to us. It is Barangka Credit Cooperative’s policy to respect your privacy regarding any information we may collect from you across our website, https://barangkacoop.com, and other sites we own and operate.
We only ask for personal information when we truly need it to provide a service to you. We collect it by fair and lawful means, with your knowledge and consent. We also let you know why we’re collecting it and how it will be used.
We only retain collected information for as long as necessary to provide you with your requested service. What data we store, we’ll protect within commercially acceptable means to prevent loss and theft, as well as unauthorized access, disclosure, copying, use or modification.
We don’t share any personally identifying information publicly or with third-parties, except when required to by law.
Our website may link to external sites that are not operated by us. Please be aware that we have no control over the content and practices of these sites, and cannot accept responsibility or liability for their respective privacy policies.
You are free to refuse our request for your personal information, with the understanding that we may be unable to provide you with some of your desired services.
Your continued use of our website will be regarded as acceptance of our practices around privacy and personal information. If you have any questions about how we handle user data and personal information, feel free to contact us via our “Contact Us” page
This policy is effective as of 31 July 2020.
Privacy Policy created with GetTerms.
Term & Conditions:
1. Qualified Members:
1.1. A new Regular member/co-owner must subscribed a minimum of Fourteen Thousand Pesos (₱14,000.00) on his/her common share capital payable within the prescribed 24-month term, which can be paid in full upon membership or on a monthly installment.
1.2. Regular members/co-owners with paid-up common share capital of ₱14,000.00 and above must continuously subscribe additional common shares. A minimum of ₱14,000.00 or more may be subscribed. Provided that, the divisor is equivalent to ₱14,000.00. Term of subscription may vary according to the capacity of the member.
2. Incentive Reward for Additional Subscription
2.1. Subscription under Installment Deposit/Payment
2.1.1. A regular member subscribing additional common shares shall be entitled to receive a 5% incentive reward based on his/her paid-up share subscription for the year. The release of incentive reward to the subscribing members shall be after the conduct of Annual General Assembly Meeting, which is to be credited to member’s registered MIGS ATM card or savings account with BCC.
2.2. Subscription under Spot Cash Deposit/Payment
2.1.2. A regular member subscribing additional common shares under spot cash basis shall be entitled to receive 10% incentive reward. The said reward shall be credited to member’s registered MIGS ATM card or savings account with BCC upon full payment/deposit.
3. Paid common share capital subscriptions shall be entitled to the provisions of BCC in the computation of dividends every end of the year.
4. No member shall transfer their balances from common share capital to preferred share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
5. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must secure and present the duplicate copy of bank validated slip to BCC as proof of deposit.
6. A penalty fee of 2% per month shall be charged on the amount of share capital subscription in default.
Term & Conditions:
1. Qualified Members:
1.1. Associate Members
1.1.1. Associate member must subscribe fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00).
1.1.2. Subscription on preferred share capital can be paid on a monthly or lump sum basis within 24 months upon approval of his/her membership.
1.1.3. No associate member shall own or hold more than 10% of the total subscribed share capital of the Cooperative.
1.2. Regular Members
1.2.1. Regular members may subscribe preferred share capital subscription as optional and additional investment.
1.2.2. A regular member may subscribe a minimum of fifty (50) shares with a unit value of ₱100.00 per share or a total of Five Thousand Pesos (₱5,000.00), which must be paid upon his/her intention to subscribe.
2. Incentive Reward for Additional Subscription
Preferred Share Capital is an interest-bearing capital investment with a fixed and assured interest rate of 7% per annum where a member may subscribe. The amount subscribed by a member on preferred share capital has no voting rights privileges.
3. The interest on share capital of a member with fully paid preferred share capital shall be paid based on prescribed regulations indicated in BCC By-Laws:
3.1. 75% shall be allocated cash dividend, which can be credited to member’s ATM card or savings account.
3.2. 25% shall be allocated and credited to member’s share capital account as additional paid-up preferred capital.
4. Associate and regular members may continue to subscribe on their preferred share capital account with the cooperative, provided that the total paid subscription shall not exceed Twenty-Five (25%) percent or one fourth (1/4) of the total authorized share capital of the cooperative.
5. No member shall transfer their balances from preferred share capital to common share capital or vice versa. Transfer of shares shall be allowed subject to the provisions under Section 77 of the By-Laws and Article II, Sections 8 & 9 of BCC Membership Policy.
6. Members/Co-Owners may choose one (1) mode of deposit in paying their subscription on share capital. For over the counter deposits, members may go to the nearest BCC office or thru its authorized bank partners. For deposit made in authorized bank partners, members must notify or present the duplicate copy of bank validated slip to BCC as a proof of deposit.
7. A penalty of 2% shall incur every month for unpaid subscription on preferred share capital of a member.
As BCC Member, I hereby pledge to agree and comply with the following terms and conditions of my membership with the Barangka Credit Cooperative:
1. To prove that I have attended, completed and finished the prescribed Pre-Membership Education Seminar (PMES) on this day of ____________ (MM/DD/YY) under Certificate Number ____________.
2.To pay the membership fee of ₱100.00 upon application, the required minimum share capital subscription within the prescribed 24-month period, and other fees prescribed under the initial membership investment;
3. To comply with the provisions of the Articles of Cooperation, By-Laws, policies, and regulations set by the Board of Directors, the General Manager or the Chief Executive Officer, as well as acts of duty constituted Authorities, and in case of failure on my part to do so, the BCC Board of Directors or its designated representative/s, or the Kilusang Bayan or Court, at its options may:
3.1. Fine, suspend, terminate or expel me from membership, where upon my shareholding shall be answerable for my loans as co-maker and other liabilities to BCC. This is without prejudice to the right of BCC to file complaints for collection of all loans and obligations to BCC in case my shareholding is not sufficient to cover the full payment of loans;
4. To certify the truthfulness of all the information prescribed in this membership application form including the information provided under my Beneficiary/ies Information for Life Share Protection Plan (LSPP). I further certify that I have read, understood and have been appraised, as well as my beneficiaries and family members of the LSPP, to which I/we adhere and strictly abide. Any violation on any part or whole policy shall be enough ground for the non-payment or forfeiture of my LSPP benefits without any further notice.
5. To participate and patronize in the following Capital Build-Up (CBU) program of the cooperative as prescribed under Membership Policy Article II, Section 2, Section 7 and By-Laws Article VII, Section 68:
5.1. To subscribe for a minimum of 140 shares valued at ₱100.00 per share, and pay in lump sum or installment within 24 months from the approval of this membership application;
5.2. Upon completion or full payment of the required minimum 140 shares, to continue subscribing, adding, contributing, depositing or paying on a daily/weekly/semi-monthly/monthly at least ₱___________ for my Share Capital account and at least ₱___________ for my Regular Savings account, to which may be deducted or collected from my monthly salary/earnings/income;
5.3. To contribute at least 5% of the loan/s that I will avail for my CBU. For this purpose, I hereby authorize BCC to automatically deduct 5% from my approved loan/s and add the amount to my Share Capital account
5.4. To contribute at least 50% of the annual interest on capital and patronage refund due to me, and add to my Share Capital account;
6. To agree and comply that the availment of any loan facility from BCC is a privilege and not a matter of right. Whenever I avail a loan product, I commit to take care of my account responsibly and ensure to pay my due religiously;
7. To agree and comply the terms and conditions applied on membership withdrawal/resignation/termination as prescribed under the following:
7.1. BCC By-Laws, Article III, Section 5, to wit: “A member may, for any valid reason, withdraw/resign/terminate his/her membership from the cooperative by giving a 60-working day notice to the Board of Directors. However, no member shall be allowed to withdraw or terminate his/her membership during any period in which he/she has any pending obligations with the cooperative.”;
7.2. BCC Membership Policy, Article II, Section 5, to wit: “A member who opts to withdraw/resign/terminate his/her membership with the cooperative must comply the procedures identified herein:
7.2.1. To secure, fill-up and submit membership withdrawal/resignation/termination and clearance form;
7.2.2. To surrender and submit Share Capital Certificate, passbooks, MIGS ATM card and other documents issued by BCC
7.2.3. To undergo counseling and re-orientation from the Board of Directors or any of its authorized representatives;
7.2.4. To pay the required withdrawal/resignation/termination fee of ₱1,000.00 to be automatically deducted from cash proceeds upon membership withdrawal/resignation/termination;
8. Share of a resigning member, with or without financial obligations and liabilities is subject to Exit Fee of 5%, which will be deducted from his/her total outstanding shares on common & preferred, as prescribed under article V, Treasury Share of BCC Membership Policy.
9. To adhere and comply with all the remedies and settlement of disputes under BCC By-Laws, Article XI before going to Cooperative Development Authority (CDA) or courts.
Note: Rev. August 2023
I authorize and give my consent to Barangka Credit Cooperative (BCC), a primary multi-purpose cooperative registered under the Cooperative Development Authority (CDA), to collect, process, update, disclose, retain, and dispose of my personal information and other sensitive personal information contained in my future member information sheet record form and any other forms of documents that I have or will submit to BCC, whether manually or electronically, in accordance with the *Data Privacy Act 2012, and its implementing Rules and Regulations (IRR):
• To verify and share my personal information from any person or entity that BCC may deem necessary including, but not limited to, credit bureaus, financial institutions, and government authorities such as the Cooperative Development Authority (CDA), Bureau of Internal Revenue (BIR), and third parties like BCC accredited agencies and service providers;
• To establish, confirm, review or update my record;
• To manage and process my account and/or services provided to me;
• To conduct membership risk, capacity and suitability assessment, product development and audit;
• To market its products and services, and other legitimate business purposes; and
• To comply with its reporting obligations under applicable laws, rules, and regulations.
I understand that any information provided to BCC is protected. BCC will only collect my Personal Information and other sensitive personal information through secure means, i.e. in person at BCC branches, via recorded line through BCC hotlines and in-house collection, e-channels – BCC business online platform, website, emails, and social media accounts.
I understand that this authorization/consent shall continue to be in effect throughout the duration of my membership with BCC and/or until the expiration of the records retention limit set by the relevant laws and regulations for membership account closure, and the period set until destruction and/or disposal of my records unless earlier withdrawn in writing.
I agree to hold BCC and the persons or entities from whom it may obtain, or with whom it may disclose or verify my personal information and other sensitive personal information free and harmless from any liability arising from the use of any such information.
Finally, I have read and understood and consent to be bound by all the terms and conditions stated above.
*https://www.privacy.gov.ph/data-privacy-act-primer/
