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Deposit Services

SHARE CAPITAL DEPOSIT

A share capital depositor is considered a regular member who has completed the required minimum of Two thousand (2,000) shares or equivalent to Twenty thousand pesos only (Php20, 000.00).

Opening of account

Applicants should have attended the Basic Cooperative Orientation or BCO not more than 6 months ago.

REGULAR SAVINGS

For ages 0 to 12 years old:
a. Opened by a either a parent or a guardian
b. Can be named under the kid but STRICTLY accompanied by the name of the authorized signatory (parent or guardian).
c. Deposits can be made by either of the kid or the parent/guardian but withdrawals can be made by the parent/guardian ONLY.

For ages 13 and above:
a. Account can be opened only by the saver or by a parent/guardian.
b. Account can be named under the saver or under the parent/guardian of the saver.
c. Deposits can be done either by the saver or the parent/guardian.
d. Withdrawals can be allowed to savers if the account is not under the supervision of his/her parent/guardian. If the account is under the parent/guardian, the authorization portion on the withdrawal slip must be duly signed before allowing the withdrawal.

For Joint Accounts:
a. Opened by all holders of the account
b. Signature rules as to withdrawal can be as follows:

  1. And – All the holders of the account are required to sign on the slip.
  2. Or – Only one (1) signature from the holders is required to sign on the slip.
    c. Closing of the account must be done by all the holders.

For Organizations:
a. A resolution should be presented authorizing the president and any other officer of the organization to jointly open and name the account. The account will be opened under the signature rule of “and”.

MAINTAINING BALANCE OF A SAVINGS ACCOUNT

A savings account’s maintaining balance should be One hundred Pesos Only (P100.00).
Below maintaining balance will be charged ten pesos only (PhP 10.00) every month.

DORMANCY OF A SAVINGS ACCOUNT
Dormancy means the status of a savings account after two years of being inactive or no deposit within two (2) years excluding the credit of interest.
Dormancy charges of Twenty Pesos Only (Php20.00) will take effect on the month the account has fallen to dormant status.

INTERESET OF A SAVINGS ACCOUNT
One and One-half per cent (1.5%) per annum

SPECIAL SAVINGS

ATM SAVINGS

No Minimum Deposit Required

TLCS ALKANSYA PROGRAM

Increase your savings deposit without having the need to go the office personally