Savings Deposit Policy


  • To encourage thrift and savings mobilization among the members for capital formation.
  • To create funds in order to grant loans for productive and providential purposes.
  • To promote the cooperative as a way of life for improving the social and economic well-being of the member.


The STMC Savings Deposits program is open to all members;:

    1. A member may open savings deposit with an initial payment of P200. The maximum limit per member on savings deposit is P300,000.00
    2. Savings deposits not falling below P200 during any calendar month shall be entitled to interest to be computed quarterly based on the average daily balance during the period.  The interest shall be credited to depositor’s account on a quarterly basis.
    3. Rate of interest – 2% per annum, no withholding tax.
      Note:  The rate of interest is subject to change and shall be determined by the Board of Directors at the beginning of each fiscal year.
    4. Withdrawals – Deposits may be withdrawn at the coop office from 8:30am to 4:00pm.  All withdrawals in the amount of P10,000 and below will be disburse via cash.  Withdrawals in excess of 10,000 will be deposited to your BPI account within 2-3 banking days.
    5. Passbook – all depositors will be given a PASSBOOK for easy monitoring of records.  Passbook must be presented for every deposits and withdrawals transaction.  In case Passbook is stolen or lost, the owner shall notify the Coop Administrator in writing, submit affidavit of loss and pay the passbook replacement fee worth P40.  Only the initial passbook will be given free to members, the succeeding passbook will cost P40 to be charge to members.