MEV

What is MEV?

“Members’ Entitled to Vote” means meeting all financial and member obligations as described in LIPIEMCO’s policies, bylaws, or any agreements between the cooperative and the member.

Criteria

1. Paid the share capital of at least PhP1,000
   – minimum monthly shared capital of PhP200
2. Monthly maintaining balance in regular savings of at least PhP500
3. 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
4. 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
5. Membership status for the last 3 months must be Non-delinquent

Scoring

• Governance (15)
  • Annual General Assembly
    •  Attendance to Annual General Assembly (8 points)
    • Not able to attend GA (0 points)
  • Exercise Voting during Election
    • Voted (5 points)
    • Not able to vote (0 points)
  • Member’s Satisfaction
    • Answered the Social Audit  Survey (2 points)
    • Did not answer the Social Audit Survey (0 points)

• Economic Participation (30)
  • Investment or Share Capital
    • 100k and above (20 points)
    • 70k – 99,999 (18 points)
    • 50k – 69,999 (16 points)
    • 25k – 49,999 (14 points)
    • 10k – 24,999 (12 points)
    • Below 9,999 (10 points)
  • Annual Total Share Capital 
    • Increased by 5% (10 points)
    • Increased by 3% (5 points)
    • Increased by 2% (2 points)
    • No Increase (0 points)

• No. of Years as COOP Member (8)
  • • 5 years and above (8 points)
    • 4 years (7 points)
    • 3 years (6 points)
    • 2 years (4 points)
    • 1 year (2 points)

• Patronizing Coop Services (8)
  • Demand Deposits (Time Deposits, Kiddie Savings, Regular Savings) Average Monthly Balance
    • 70k and above (8 points)
    • 50k – 69,999 (7 points)
    • 25k – 49,999 (6 points)
    • 10k – 24,999 (4 points)
    • 9,999 and below (2 points)

• Loans (12)  
  • • 60k and above average monthly balance (12 points)
    • 40k – 59,999 average monthly balance (10 points)
    • 20k – 39,999 average monthly balance (8 points)
    • 10k – 19,999 average monthly balance (6 points)
    • 9,999 and below average monthly balance (4 points)
    • No Loan (0 points)

• Delinquency/Unapplied (24)
  • • No Delinquency (24 points)
    • 1-2 months deferred payments for the year (5 points)
    • Delinquent for more than 2 months (0 points)
    • No Loan (0 points)

• Member Referral (3)
  • • 1 Referral (3 points)
    • No Referral (0 points)

• Member Referral Bonus Points (7)
  • • 5 and above referrals (7 points)
    • 3-4 Referrals (5 points)

Benefits

Platinum (100 points)

• Recognition during GA
• Priority release of dividend
• One month skip payment for every loan
• Lower service fee @ 1.5% for providential loan
• Lower interest rate for providential loan @ 1% for 2-year term

Royalty (90 – 99 points)

• Recognition during GA
• Priority release of dividend
• One month skip payment for every loan
• Lower service fee @ 1.5% for providential loan

Prestige (51 – 89 points)

• Can avail the regular products and services of LIPIEMCO

Member/Non-MIGS (50 points and below)

• Limited on products and services of LIPIEMCO
• Vote is not counted during election
• Can participate in the GA meeting but their votes are not valid for approving any official resolutions

Scoring (total of 100 POINTS)