What is MIGS?
“Member In Good Standing” means meeting all financial and member obligations as described in LIPIEMCO’s policies, bylaws, or any agreements between the cooperative and the member.
- Paid the share capital of at least PhP1,000
– minimum monthly shared capital of PhP200
- Monthly maintaining balance in regular savings of at least PhP500
- Has participated in any of the following:
a. The election (for members joining before the election period)
b. Attended the Annual General Assembly
c. Responded to social audit surveys
- Has an existing loan or availed of at least 1 loan package
– loan balance of the current year will determine the MIGS rating for the year
- Membership status for the last 3 months must be Non-delinquent