Savings Program
CWCC’s savings program aims to encourage members to save periodically and realize higher interest earnings than regular bank products. Its current offering is probably highest in the industry and additional savings interest is usually distributed at year end.
| Savings Deposit | Interest Rate per annum | |
|---|---|---|
| On Average Daily Balance (ADB) | 6.00% | |
| ADB computed monthly; interest credited monthly. Maintaining balance must be no less than outstanding loans or P3,000 whichever is higher. Periodic deposit of at least P100 per month, deducted every payroll, either weekly (P25) or semi-monthly (P50). | ||
Provident Loan Program
The provident loan program serves to bridge the income gaps that individual members may face, by offering them various loan products at competitive rates vis-à-vis informal lenders and conventional financial institutions.
| Credit / Loan Rates | Term | Rate per month | Service Fee |
|---|---|---|---|
| Multi-purpose Loan | Maximum of 12 months | 1.50% | 1% |
| Special Loan | Maximum of 2 months | 0% | 1% |
| Educational Loan | Maximum of 12 months | 1.25% | 1% |
| Special Purpose Loans | Maximum of 3 years | 2.0% to 2.5% | 1% |
Consumer Loan Program
Consumer Loan Program aims to provide timely, accessible and affordable basic household food and non-food needs for the members and their families.
