Policy on STMC Regular Membership

Policy on STMC Regular Membership

I. General Statement of Policy
A regular member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership.

II. Qualification for regular membership
The regular membership of STMC is open to all natural persons, Filipino citizen, of legal age, with capacity to contract and regular employees of STMicroelectronics, Inc. Calamba.
The prospective member should:
1) Pledge to undertake the responsibilities of members;
2) Complete the prescribed pre-membership education seminar (PMES).
3) Use or anticipate using the services of the cooperative more particularly the savings and loan services and other allied services relative thereto.
4) Not a member of any existing cooperative operating in the STMicroelectronics, Inc. Calamba.

III. Procedure
a) Fill-up the STMC application for membership form
b) Pay membership fee of One Hundred Pesos (P100), which amount shall be returned to the applicant in case of rejection.
c) The applicant for regular membership shall subscribed for at least 100 common shares with a total value of P10,000, of which at least ten percent (10%) corresponding to 10 shares or P1,000.00 shall be paid upon submission of the application for membership.
d) Regular membership is now open to resigned member (active employee of STMicroelectronics Calamba) six (6) months after his/her COOP resignation and amnesty program is not necessary. Former member is allowed to re-apply for COOP regular membership for up to Three (3) times only.
e) Appeal – An applicant rejected by the Board of Directors, may appeal his case to the next general assembly by giving notice to the Secretary of the cooperative thirty (30) days before the said General Assembly, whose decision on the matter shall be final.

For more information, please call STMC office at local 5707 or 5408.

Thank you very much.
STMC Management