Mortuary Fund & Loans

Margem Credit Cooperative provides two essential financial services to support our members and their families: the Mortuary Aid Fund and a range of loan products designed to meet diverse needs. Mortuary Aid Fund The Mortuary Aid Fund is a mutual assistance program that provides financial support to the family of a deceased member. It is one of the most valued benefits of cooperative membership. How It Works: - Every member contributes a small amount to the mortuary fund - When a member passes away, the designated beneficiary receives a benefit payment - The fund is managed collectively by all members, providing security and peace of mind Benefit Amount: - Current benefit: ₱25,000 per deceased member - Additional assistance may be available based on fund status Eligibility: - Must be an active member with current contributions - Must have been a member for at least 3 months prior to the claim How to File a Claim: 1. Notify the cooperative office within 30 days of the member's passing 2. Submit a certified copy of the death certificate 3. Provide the beneficiary's valid ID and contact information 4. The cooperative processes the claim and releases the benefit within 7 working days Loan Products We offer a variety of loan products with fair interest rates and flexible payment terms: Regular Loan - For personal, family, or emergency needs - Interest rate: 12% per annum (1% per month) - Maximum amount: up to 3x your share capital - Payment terms: 3 to 12 months Productive Loan - For business, livelihood, or income-generating activities - Interest rate: 10% per annum - Maximum amount: up to 5x your share capital - Payment terms: 6 to 24 months Emergency Loan - For urgent medical, educational, or emergency needs - Interest rate: 8% per annum - Maximum amount: ₱20,000 - Payment terms: 1 to 6 months How to Apply for a Loan: 1. Visit our office and fill out a loan application form 2. Submit required documents (ID, proof of income, collateral if applicable) 3. The loan committee reviews and approves applications within 3-5 working days 4. Upon approval, funds are released to your account For more information about our mortuary fund or loan products, please visit our office or contact us.