In the pursuit of financial prosperity, MSU-IIT National Multi-Purpose Cooperative offers a diverse array of investment options designed to cater to the unique needs of our members. Let’s delve into these opportunities in detail.

Share Capital: The Bedrock of Membership

Characteristics for Regular Members:

  • Minimum initial deposit: Php 2,500.00
  • Php 50.00 per share
  • Annual dividend
  • Monthly contribution: Php 100.00 (minimum)
  • Non-withdrawable unless membership is terminated (voluntarily or in case of death)
  • Earns annual dividends

Savings Deposit:

  • Required maintaining balance: Php 500.00
  • Withdrawable
  • Non-withdrawable unless membership is terminated (voluntarily or in case of death)
  • Php 1,000.00 and above to earn an interest rate of 0.75% per annum

Time Deposit Matrix (As per BOD Reso No. 1072-021321):

AMOUNT30 DAYS90 DAYS180 DAYS365 DAYS
10,000-250,0001.05%1.33%1.61%1.89%
above 250,000 – 500,0001.33%1.61%1.89%2.16%
above 500,000 – 750,0001.61%1.89%2.16%2.44%
above 750,000 – 1,000,0001.89%2.16%2.44%2.72%
above 1,000,0002.16%2.44%2.72%3.00%

The above rates take effect upon the roll-over of existing time deposits and the acceptance of new placements starting April 1, 2021.

Time Deposit Guidelines (As per BOD resolution No. 9171-022018 and BOD resolution No. 606-042120):

  • Exclusive to Regular Members.
  • Eligibility based on the Total Assets of the branch.
  • Share Capital of at least Php2,500 and Savings Deposits of at least Php1,000 required at the time of placement.
  • Maximum placement of Five Million Pesos (Php5 million).
  • Excess over Php5 million can be placed in savings and/or share capital.
  • Renewable upon maturity with various options.
  • Tax Identification Number (TIN) required.

Time Deposit Options:

  1. Roll-over on principal only (interest credited to Savings Account)
  2. Roll-over on principal plus interest (principal plus interest credited to a new Time Deposit account)
  3. Automatic deposit of principal plus interest to Savings deposit account upon maturity
  4. Monthly interest credit on savings deposit account for time deposits with a term of 90 days and above. Members have the option to roll-over the principal upon maturity. In case of pre-termination, the interest rate is based on the regular savings rate, and any excess credited interest is deducted from the total time deposit proceeds.

Please note that the regular savings interest rate is 0.75% per annum effective April 1, 2021 (as per BOD Reso No. 1122-031721). Explore these investment options to secure your financial future with MSU-IIT National Multi-Purpose Cooperative.

By Admin