Is a vehicle financing facility that can be used to buy a brand new, second hand vehicle or refinance existing vehicle loan. Covered vehicles are cars, motorcycles, tricycles, jeepney’s and trucks.


  • With at least P100,000 paid up capital
  • At least 1 year COOP member
  • Not delinquent for the last 3 months (Share capital & loans)
  • No offsetting of other coop loans
  • Loan amount and terms of payment
Loan Amount Terms of payment
50k to 99k 2.5 years
100k and above Max of 5 years to pay
  • Loan proceeds- check is payable to seller/car dealer.
  • Loan limit – maximum loan amount is P1,000,000
  • Interest rate – 10% based on diminishing balance
  • Service fee – 2% of principal amount or maximum of 3K whichever is lower
  • The maximum monthly amortization for all types of company and COOP loans shall be 35% of the employee’s monthly basic salary (MBS).
  • Subject to Co-maker policy
    • The number of co-maker/s will vary based on the amount of loan exposure of STMC to a borrower one (1) co-maker is equivalent of P1 to P25K loan exposure.
    • Requirements for Co-makers
      • Must be a member of STMC in good standing for at least three (3) months
      • With paid-up share capital of at least P2,500.00
      • A member may guarantee a maximum of 3 outstanding loans
      • Signed CORA form
      • Signed Loan Application form
      • Photo copy of Coop ID or Government ID w/ signature (front and back)
  • The credit limit per member is equivalent of 2X of paid-up capital except for Petty Cash & Emergency loan which is allowed up to 3X of paid-up share capital.
  • The maximum monthly amortization for all types of company and COOP loans shall be 35% of the employee’s monthly basic salary (MBS).

General requirements

  • Duly signed Vehicle Assistance Loan form.
  • Photocopy of latest community tax certificate (cedula)
  • Quotation from supplier/seller with complete name, address, contact number and TIN number.
  • Proof of ownership by the seller such as photo copy of LTO OR & CR. If the vehicle is not under the name of the seller, deed of sale and photo copy of LTO OR & CR are required to be submitted.
  • 1 valid ID of the seller (photo copy)
  • Proof of availability of funds to pay the difference of the cost of vehicle and the loan amount based on Vehicle loan application.
  • Examples are:
    • latest bank statement of account with account name and account number,
    • Official receipt from car dealer/seller if employee already provided earnest money.


Additional requirements for assumption of loan

  • Latest Statement of account from bank or financing institution.
  • Copy of mortgage contract or loan agreement

Processing time :

Applications received from Mondays to Wednesdays to be released on Saturdays.

Applications received from Thursdays to Fridays to be released on the following Wednesdays.