Savings and Credit

ASEMCO is a Savings and Credit Cooperative which aims to mobilize savings from members to encourage self-sufficiency; thus being able to lend to members at reasonable interest rates.

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Types Of Savings

Initial Deposit – P 500.00

Maintaining Balance to Earn Interest – P 500.00

Interest Rate – 3% per annum based on ADB computed and compounded quarterly

Benefits – Insurance and other hosts of protection. Auto debit/credit convenience.

Initial Deposit – P 50.00

Maintaining Balance to Earn Interest – P 500.00

Interest Rate – 3% per annum based on ADB computed and compounded quarterly

Benefits – Education-related savings and non-financial subsidies.

Initial Deposit – P 50,000.00

Maintaining Balance to Earn Interest – Based on the quoted interest

Interest Rate – Tiered (5% – 7%) based on amount, term and prevailing market rates

Benefits –Higher than the average yield on deposits for funds allocated for special purposes.

TIME DEPOSIT RATE

FROM	To	MONTHLY	QUARTERLY	SEMI-ANNUAL	ANNUAL
50,000.00	500,999.00	5%	5%	6%	6%
501,000.00	999,999.00	6.50%	6.50%	7%	7%
1,000.000.00	above 1,000,000.00 (-1)			8%	8%

Loan Products

1. MEAL – Micro-Enterprise Assistance Loan – for micro-finance clients engaged in micro-trading, micro-manufacturing, micro-services and micro-agri production.

2. SMILE – Small and Medium Investment Loan for Entrepreneurs – for graduating micros, Small and Medium Entrepreneurs (SMEs) with a more stable business.

3. OLALA – OWWA Loan Assistance for Livelihood Augmentation – specifically for Overseas Filipino Workers (OFWs) livelihood business opportunities of the family.

1. LASAP – Loan Assistance for Salaried and Active Person – for fix salary earners that is willing to enter into a contract via Memorandum of Agreement (MOA) of their office or agency.

2. BOLA – Barangay Official Loan Assistance – specifically for barangay officials within Biliran Island and is willing to enter into a contract via Memorandum of Agreement (MOA) with the concerned barangay.

3. PAL – Pensioner’s Assistance Loan – a loan designed for Pensioners for any providential purposes.

4. SAIL – Seafarer’s Assistance Investment Loan – a loan product for active seafarers who has a budget gap for the investment in education such as training, review, examination, and processing of work documents or renewal.

5. ALARM – Assistance Loan for Active Regular Members – a loan designed to newly-regular members of ASEMCO for any productive or providential purpose that is less than P 150,000.00.

6. RELAX – Refined Living Afforded to excellent members – a loan designed for seasoned regular members that already established a good track record in availing loan cycles with the purpose of providential and productive.

7. LAMAS – Loan Assistance for Members in Associate Status – a loan designed for associate members for any providential purposes.

1. LASA – Loan Assistance for Staff Augmentation – a loan specifically designed for ASEMCO staff for Asset Improvement or acquisition, Enterprise development, Emergency, Occasional and Educational needs.

Downloadable Forms

Client Profile form

Loan Application form