ALICIA NATIONAL HIGH SCHOOL TEACHERS AND CONSUMERS COOPERATIVE

Paddad, Alicia, Isabela

NAME OF BORROWER: ________________________________________________ CP#: _________________________

ADDRESS:__________________________________________________________( ) New Loan ( ) Re-loan ( ) Emergency
Date Granted: __________________ Date Due: __________________

PROMISSORY NOTE

AMOUNT OF PROMISSORY NOTE: P___________________ DATE:_____________________

DUE DATE OF LOAN: ________________________________

FOR THE VALUE RECEIVED,I/WE jointly and severally promise to pay ANHSTeachers and Consumers
Cooperative or order the SUM OF P___________________, with interest at the rate of __________ PERCENT PER
ANNUM __________ PERCENT PER MONTH, payable on or before __________________________, 20_______.
I, as Maker/Borrower, further pledge my capital contributions and deposits against the loan and shall not
withdraw any amount until this fully paid.
We, as Co-Makers, further agree that our capital contributions maintained with the Association shall be
pledged to the balance of the loan and shall be debited to the extent of the unpaid obligation as required by the terms
and conditions of this loan.
In case of non-payment for three ( 3) consecutive instalments, the Association reserves the right to consider
the entire balance of the loan due and demandable, notwithstanding the imposition of applicable penalties, in
accordance with existing policies of the association on delinquent accounts.

MAKER OR BARROWER: _________________________ ______________________

(Print Name) (Signature)

_______________________________ ________________________________
CO-MAKER CO-MAKER
(Print Name and Sign Above) (Print Name and Sign Above)
____________________________________________________________________________________

DISCLOSURE STATEMENT ON LOAN/CREDIT TRANSACTION

(As Required under R.A. 3765, Truth of Lending Act)

1. LOAN GRANTED (Amounted to be financed) ……………………... P

2. FINANCE CHARGES: Not Deducted From Deducted From

a. Service Fee
b. Interest
c. Others (Specify) __________________________

3. OTHERS:
a. Old Loan Balance
b. _________________________

4. Total Deductions ………………………………………………

5. NET PROCEEDS OF LOAN……………………………………………………….……………P

6. EFFECTIVE INTEREST RATE (Interest and finance charges)..…..…….. ______% per month.
Explanation: The effective interest rate is higher than the contractual interest rate by ______ because of item 2 above.
7. SCHEDULE OF PAYMENT
a. Single payment due on (Date) ____________________ …….……………………………….... P ____
b. Total Installment Payable : Monthly installment of ________________ payable in _______________ to start on ____________
8. ADDITIONAL CHARGES IN CASE CERTAIN STIPULATIONS ARE NOT MET BY THE BORROWER
Nature Rate Amount
Penalty for Late Amort. Payment ____% p.a. on amort.due P______________

Certified correct:
ESTRELITA B. SANTIAGO LOAN OFFICER
(Signature of Creditor/Authorized Representative over Printed Name) Position

I ACKNOWLEDGE RECEIPT OF A COPY OF THIS STATEMENT PRIOR TO THE CONSUMMATION OF THE CREDIT TRANSACTION AND THAT
I UNDERSTAND AND FULLY AGREE TO THE TERMS AND CONDITIONS THEREOF.

_________________________________ ____________________
(Signature of Borrower over Printed Name) Date
 ALICIA NATIONAL HIGH SCHOOL TEACHERS AND CONSUMERS COOPERATIVE
Paddad, Alicia, Isabela
APPLICATION FOR LOAN

GENERAL TERMS AND CONDITIONS FOR LENDING

1.GENERAL PROVISIONS
The COOP may grant or continue to grant the Loan to the Borrower if the following conditions are fulfilled or
continued to be fulfilled:
(a) the Application Form shall have been accepted by the COOP in the manner as prescribed by the COOP;
(b) the Loan Agreement and all other documents, legal or otherwise, as may be required by the COOP, shall have
been duly completed and signed to the satisfaction of the COOP and all conditions to the effectiveness of the
Loan Agreement and such all other documents shall have been satisfied;
(c) the Account shall have been opened by the Borrower at the COOP;
(d) all documentary proof as may be required by the COOP shall have been duly furnished;
(e) there are no circumstances which in the opinion of the COOP would adversely affect the COOP’S ability,
decision or willingness to grant or continue to grant the Loan to the Borrower; and
(f) the borrower is required to have guarantor, your guarantor must be a member of the COOP.
(g) the only amount a borrower can borrow from the COOP is the amount of shares he or she has.
2. LOAN
2.1 The Approved Loan Amount and availability period and term of the Loan shall be notified by the COOP to the
Borrower subject to the COOP’s authorities.
2.2 The Approved Loan Amount can be reviewed by the COOP from time to time. The COOP may at its sole
discretion cancel, modify or otherwise vary the Approved Loan Amount, or revise, restructure or convert the
Personal Loan to such other facility type on such terms and conditions as may be determined by the COOP.
2.3 The purpose of the Loan shall be specified in the Loan Declaration and the Borrower agrees and undertakes
to apply all amounts of the Personal Loan provided by the COOP in or towards such purpose.
3. INTEREST
3.1 Interest is calculated by month.
3.2 The monthly interest for regular loan is 1.2%.
3.3 The monthly interest for emergency loan is 1%
3.4 If the repayment amount due here under is not paid on its due date of payment, the charge (if any) shall
become payable by the Borrower, subject to such amount as may be determined by the COOP from time to time.
3.5 All interests and penalties which pass the loan tenor stated on the contract (includes but unlimited of late
payment/ odd day interest/ penalty) will be paid same as early redemption fee.
3.6 In case of non-payment for three (3) consecutive installments, the Association reserves the right to consider
the entire balance of the loan due and demandable.
4. REFUND
4.1 In case Monthly Installment Repayment Interest is applied, the first payment will include normal Monthly
Installment Repayment and Monthly Installment Repayment Interest.
4.2 All the payments will be made in accordance with The Terms and Conditions Applied for Loan and on working
days (from Monday to Friday and do not include Saturday, Sunday and Holidays or the days that the COOP do
not work). If the payment is due on the day that is not working day, the due date of that payment will be the
next working day.
5. CO-MAKER
The co-makers shall, in case of inability of the member-borrower to satisfy this obligation, be jointly and
severally liable for the same. The co-makers further agree that their deposits and capital contributions with the
association shall be pledged and/ or assigned to the balance of the loan and shall be debited to the extent of this
obligation.
6. PENALTY
Borrowers who are unable to pay his/her monthly payment will have an additional 2% of the principal
amount. This means that after seven days of the due date the additional 2% will be added.

____________________________________
Signature of Borrower (Over Printed Name)

APPROVING AUTHORITIES

IMELDA V. ROSINI MYRNA LYNN C. MENESES

Signature Over Printed Name Signature Over Printed Name
Board of Director 1 Board of Director 4

JUNAR P. SANTIAGO DIOSALIN G. IBAY

Signature Over Printed Name Signature Over Printed Name
Board of Director 2 Board of Director 5

NOIME A. MENDOZA
Signature Over Printed Name
Board of Director 3