Membership to juanREWARDS Co-operative
*As per the BY-LAWS of JUANREWARDS MULTIPURPOSE COOPERATIVE.
That the common bond of membership of this Cooperative is occupational being OVERSEAS FILIPINO WORKERS (OFW) and, shall be open to all natural persons who are all Filipino citizen, of legal age, with the capacity to contract and possess all the qualifications and none of the disqualifications provided for in the Bylaws.
Membership. This Cooperative shall have regular and associate members.
Qualification for Membership. The regular membership of this Cooperative is open to all natural persons, Filipino citizen, of legal age, with capacity to contract and, within the common bond and field of membership described as follows:
Requirements for Membership. An applicant for membership must have complied with the following requirements:
ii. Training on Millionaire Mind Intensive Course Modules (MMI) 1 – 3) whether online of offline;
iii. Training on Financial Education Games (Cash Flow 101, 202; and Big Dreams) Modules;
iv. Basic Entrepreneurship Training Modules 1 - 3;
v. Cooperative Re-Orientation Program (CRP);
vi. Sales and Marketing Training Program (SMARTPRO);
vii. Panel Interview by the Membership Committee and BOD;
viii. Acceptance and Welcoming.
Application for Membership. An applicant for membership shall file a duly accomplished application form to the Board of Directors, through the Membership Committee, who shall act upon the application within FIFTEEN (15) days from the date of filing. The Board of Directors shall devise a form for the purpose which shall, aside from the personal data of the applicant, include the duties of a member to participate in all programs including but not limited to capital build-up and savings mobilization of the Cooperative and, such other information as may be deemed necessary.
The application form for membership shall include an undertaking to uphold the By-laws, policies, guidelines, rules and regulations promulgated by the Board of Directors and the general assembly. No application for membership shall be given due course if not accompanied with a membership fee of FIVE HUNDRED PESOS (PhP 500.00), which shall be refunded to the applicant in case of rejection.
That the common bond of membership of this Cooperative is occupational being OVERSEAS FILIPINO WORKERS (OFW) and, shall be open to all natural persons who are all Filipino citizen, of legal age, with the capacity to contract and possess all the qualifications and none of the disqualifications provided for in the Bylaws.
Membership. This Cooperative shall have regular and associate members.
- Regular Member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership.
- Associate Member is one who has not yet complied with the requirements for regular membership and therefore is not yet entitled to vote.
Qualification for Membership. The regular membership of this Cooperative is open to all natural persons, Filipino citizen, of legal age, with capacity to contract and, within the common bond and field of membership described as follows:
- Regular Member - current or former Overseas Filipino Workers (OFW) whether land-based or sea-based deployed in any country of destination and has completed all requirements for membership;
- Associate Member - current or former Overseas Filipino Workers (OFW) whether land-based or sea-based deployed in any country of destination but are still undergoing and has not completed the requirements for regular membership; members of the family of OFWs can be accepted as Associate Members.
Requirements for Membership. An applicant for membership must have complied with the following requirements:
- Completely accomplished and approved application for membership;
- Certificate of completion of the prescribed Pre-Membership Education Seminar (PMES);
- Subscribed and paid the required minimum share capital and membership fee;
- Completed the following required 8-step process for membership, whether online or personal attendance.
ii. Training on Millionaire Mind Intensive Course Modules (MMI) 1 – 3) whether online of offline;
iii. Training on Financial Education Games (Cash Flow 101, 202; and Big Dreams) Modules;
iv. Basic Entrepreneurship Training Modules 1 - 3;
v. Cooperative Re-Orientation Program (CRP);
vi. Sales and Marketing Training Program (SMARTPRO);
vii. Panel Interview by the Membership Committee and BOD;
viii. Acceptance and Welcoming.
Application for Membership. An applicant for membership shall file a duly accomplished application form to the Board of Directors, through the Membership Committee, who shall act upon the application within FIFTEEN (15) days from the date of filing. The Board of Directors shall devise a form for the purpose which shall, aside from the personal data of the applicant, include the duties of a member to participate in all programs including but not limited to capital build-up and savings mobilization of the Cooperative and, such other information as may be deemed necessary.
The application form for membership shall include an undertaking to uphold the By-laws, policies, guidelines, rules and regulations promulgated by the Board of Directors and the general assembly. No application for membership shall be given due course if not accompanied with a membership fee of FIVE HUNDRED PESOS (PhP 500.00), which shall be refunded to the applicant in case of rejection.
Minimum Coop Membership Shares
An applicant for regular membership shall subscribe and pay for at least TEN (10) common shares upon approval of his membership. Additional shares may be subscribe thereafter for cash or instalment for a maximum period of six (6) months. However, no member shall own or hold more than ten percent (10%) of the total subscribed share capital of the Cooperative.
Any applicant who fails to qualify for regular membership may be placed in a probationary status and accepted as Associate Member, who must subscribe and pay the value of at least ONE (1) preferred share upon approval as associate member. Preferred share has a minimum holding period of one (1) year.
Any applicant who fails to qualify for regular membership may be placed in a probationary status and accepted as Associate Member, who must subscribe and pay the value of at least ONE (1) preferred share upon approval as associate member. Preferred share has a minimum holding period of one (1) year.
Members Duties and Responsibility
Every member shall have the following duties:
- Pay the instalments of his share capital subscription as they fall due and to participate in the capital build-up and savings mobilization activities of the Cooperative;
- Patronize the Cooperative’s businesses and services;
- Participate in the membership education and training programs to be established by the cooperative;
- Attend and participate in the deliberation of all matters taken during general assembly meetings;
- Observe and obey all lawful orders, decisions, rules and regulations adopted by the Board of Directors and the general assembly; and
- Promote the purposes and goals of the Cooperative, the success of its business, the welfare of its members and the cooperative movement in general.
Members Right and Privileges
A member shall have the following rights and privileges:
- Attend and participate during general membership meetings;
- Avail himself of the services of the Cooperative, subject to certain conditions as may be prescribed by the Board of Directors;
- Inspect and examine the books of accounts, the minutes books, the share register, and other records of the Cooperative during reasonable office hours;
- Secure copies of cooperative records/documents pertaining to the account information of the concerned member;
- Has preference in the payment of interest on share capital and in the distribution of the net assets of the Cooperative in case of liquidation; and
- Such other rights and privileges as may be granted by the General Assembly.
Termination of Membership
Termination of membership may be automatic, voluntary or involuntary, which shall have the effect of extinguishing all rights of a member in the Cooperative, subject to refund of share capital contribution under Section 14 hereof.
- Automatic Termination of Membership. The death, insanity, permanent incapacity or judicial declaration by a competent court or the insolvency of a member shall be considered an automatic termination of his membership in the Cooperative.
- Voluntary Termination. A member may, for any reason, withdraw his membership from the Cooperative by giving a sixty (60) day notice to the Board of Directors. However, no member shall be allowed to withdraw or terminate his membership during any period in which he has any pending obligation with the Cooperative.
- Involuntary Termination. A member may be terminated by a vote of the majority of all the members of the Board of Directors for any of the following causes:
- Has not patronized the services/businesses of the Cooperative as provided for in the policies approved by the general assembly;
- Has continuously failed to comply with his obligations as provided for in the policies approved by the general assembly;
- Has violated any provision of this By-laws and the policies promulgated by the board of directors as approved by the general assembly; and
- For any act or omission injurious or prejudicial to the interest or the welfare of the Cooperative.