Advantages of being an FPSDC Member: FPSDC membership shall be open to Cooperatives and Cooperative oriented organizations with development orientation that shall qualify under the following criteria & qualifications:
Membership Criteria and Qualifications:
Is duly registered with the Cooperative Development Authority (CDA) and or Securities & Exchange Commission (SEC)
Has established track record in development work, particularly in the area of enterprise development;
Can make use of the services of FPSDC
Can contribute to the long-term growth and development of FPSDC
The organizational vision and mission is consistent with the thrust and mission of FPSDC
Commits to subscribe to capital stock with FPSDC for a minimum of:
100 shares for regular membership and
50 shares for associate membership
Advantages of being an FPSDC member:
Membership in FPSDC shall allow for a reciprocal relationship between the members and the Federation. As such, members of FPSDC may be classified as borrowing and non-borrowing members:
Advantages of a Borrowing Member:
Can directly make use/avail of the lending services of FPSDC;
A venue among development organizations:
To support sustainable development interventions in rural communities
To invest and generate returns through dividends and patronage refund
Opportunity to build-up capacity as a financial intermediary and enterprise management through FPSDC's Institution Building (IB) program
Allow information exchange, market linkages and sharing of learnings with similar institutions
Advantages of a non-borrowing member:
Can provide linkage to assisted community organizations' access to financial services
A venue among development organizations:
To support sustainable development interventions in rural communities
To invest and generate returns through dividends and interest on investment
Allow information exchange, market linkages and sharing of learnings with similar institutions
Membership Category:
1. Regular members - are those entitled to all the rights and privileges of membership (see advantages of being an FPSDC member)
2. Associate members - are those entitled to all the rights and privileges of a regular member, except that to vote or be voted upon.
Membership application process:
The application for membership shall be made in writing, supported by the following:
Duly accomplished application for membership form;
Board Resolution of the applicant organization, indicating its intent for membership, subscribed share capital to FPSDC and its designated representative;
Brief organizational profile indicating its vision, mission, programs and strategies;
Copy of SEC or CDA registration, Articles of Incorporation and By-Laws and latest audited financial statements with notes;
Non-refundable application fee
Such application shall be deliberated by FPSDC's Membership & Education Committee (MECOM) to be recommended to the Board of Directors (BOD) for approval. The decision of the BOD whether approved, disapproved or deferred shall be formally communicated to the applicant organization.
In cases where the BOD disapproves an application, an appeal may be made to the next General Assembly (GA) by giving notice to the Secretary of FPSDC at least 30 days prior to the GA, whose decision shall be final.
Organizations approved for membership shall be required to pay the membership fee and at least 25% of their subscribed share capital. The 75% balance of the subscribed capital shall be paid within a maximum period of one (1) year for regular members and six (6) months for associate members.
