Common Share

Common Share

A P3,000 worth of Common Share will automatically let you enjoy all the benefits of being an OIC member-owner. When you open an account, you become a full-fledged member by investing P3,000 in Common Share or Share Capital. This amount can already give you a say in our cooperative, a share of the profits, and everything else membership offers.

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Description

Minimum and Maximum

The minimum amount to open an account is only P400.00 or with at least P3,000 worth of subscriptions. No member is allowed to own more than 10% of the total subscribed Share Capital. 
 
Interest on Share Capital
 
Interest on Common Share is determined and approved yearly by the Board of Directors, based on the current year’s audited Net Surplus, and credited before the branch’s General Assembly schedule. This counts as interest income and is free of tax.
 
Redemption
 
The Share Capital contribution of the member is considered as equity. It can only be withdrawn when the member decides to leave the Co-operative.