1. How to become a member?
A. Attend the Pre-Membership Education Seminar (via online or face-to-face in all LKBP Branches)
B. Accomplish the Membership Form
C. Submit the requirements
D. Payment of fees
E. Background Investigation
A. Two (2) pcs. ID picture 2x2
B. Photocopy of 2 Valid ID's
D. Barangay Clearance
E. Proof of Billing (Meralco, Telephone, Internet, etc.)
2. What are the qualifications for membership?
The membership is open to any natural person, Filipino citizen, of legal (18-60years old), with capacity to contract, and residing and /or working within the Cooperative's area of operation.
3. What are the benefits of a Cooperative member?
A. Become a co-owner of the Cooperative
B. Avail loan at low interest rate
C. Start savings at low amount
D. Receive dividend and patronage refund
E. Avail discount on LKBP products and services
F. Participate in the General Assembly, meetings, training and seminars
4. What government agency regulates the establishment of Cooperatives?
Cooperatives in the Philippines are registered under the Cooperative Development Authority (CDA) that regulates its operations and compliance to law.
5. What is the category of LKBP in terms of assets?
LKBP belongs to Large-Scale Billionaire Cooperatives in the Philippines.
6. What is General Assembly?
The General Assembly is composed of all members entitled to vote, duly assembled and constituting a quorum (at least 25%) and is the highest policy-making body of the Cooperative.
7. Who provides direction for the affairs of LKBP?
The Board of Directors composed of seven (7) members as a body shall provide general policy direction control of the affairs of LKBP.
8. What is the guarantee for Cooperative deposits?
The Cooperative has a mandatory reserve fund that is used for the stability of the Cooperative and to meet net losses in its operations.
9. What is the minimum share capital for Cooperative member?
The minimum paid-up share capital is ₱1,000.00. The minimum subscribed share capital is ₱4,000.00. No member shall own or hold more thatn ten percent (10%) of the total subscribed share capital of the Cooperative.
10. What are the proofs of membership in Cooperative.
LKBP issues ID and passbook to all its members as proof of membership.