BENEFITS






Anchored on the universal cooperative principle “One Member, One Vote” relating to equal rights of members, a regular member enjoys the following rights and privileges:

1. Avail loans subject to his credit standing or loaning capacity, evaluation by Credit and Collection and approval by the Board of Directors.


2. Subscribe and pay for his share capital subscription as part of continuous capital build-up.


3. Deposit to and withdraw from his Savings Deposits Account.


4. Seek elective position as a Representative, a Member of the Board of Directors, Audit Committee and Election Committee subject to ELECOM rules and regulations.


5. Attend the Annual Representative Assembly as an elected Representative or a Proponent of Resolution/s or amendment/s.


6. Attendance to cost-free trainings and seminars under the continuous TELESCOOP education program






A regular member is entitled to the following benefits:

1. Annual payment of Interest on his Share Capital and Patronage Refund commensurate with the frequency of his patronization or availment of loans.


2. Monthly crediting of Interest on Savings Deposits based on lowest monthly balance.


3. Membership Retirement Benefits conditioned upon five (5) years continuous membership with TELESCOOP.


4. Death Benefits of Php 200,000.00 payable to the heirs and beneficiaries of a deceased Regular Member.


5. Attendance to cost-free trainings and seminars under the TELESCOOP continuous education program






TELESCOOP BENEFIT PLAN
(Death Benefit)
FOR THE YEAR NO. OF RECIPIENT
2001 16
2002 7
2003 9
2004 12
2005 14
2006 9
2007 15
2008 15
2009 7
2010 14
2011 12
2012 11
2013 16
2014 16
 
Coverage of Insurance
2002 55,000.00
2003-2004 75,000.00
2005-2007 150,000.00
2008-2011 200,000.00






SCHEDULE OF RETIREMENT BENEFITS
(Graduated Retirement Benefits after 5 years of continuous Membership)
YEARS OF MEMBERSHIP BENEFITS ACCUMULATED CONTRIBUTION
5 5,500.00 1,200.00
6 5,995.00 1,440.00
7 6,490.00 1,680.00
8 7,040.00 1,920.00
9 7,590.00 2,160.00
10 8,250.00 2,400.00
11 8,910.00 2,640.00
12 9,680.00 2,880.00
13 10,450.00 3,120.00
14 11,330.00 3,360.00
15 12,320.00 3,600.00
16 13,420.00 3,840.00
17 14,520.00 4,080.00
18 15,730.00 4,320.00
19 17,050.00 4,560.00
20 18,480.00 4,800.00
21 20,130.00 5,040.00
22 21,890.00 5,280.00
23 23,760.00 5,520.00
24 25,850.00 5,760.00
25 28,160.00 6,000.00
26 30,470.00 6,240.00
27 32,780.00 6,480.00
28 35,310.00 6,720.00
29 38,170.00 6,960.00
30 41,250.00 7,200.00