M E MO R A N D U M NO.

121021

DATE : DECEMBER 10, 2021

TO : ALL MEMBERS

FROM : OFFICER IN-CHARGE

SUBJECT : MEMBER’S DIVIDEND AND COLLECTIBLE AMOUNT

RATIONALE:

This letter is intended to inform all the members about our dividends and or
balance amount to the money that we pooled together as form of cooperative to gain
profit and or dividends after the time period that we agreed upon at the onset month of
the current year during our first meeting last January 16, 2021. Moreover, preparing and
paying our balance obligation on or before December 20, 2021 will have a smooth
transition in the distribution to the member who has remaining dividends and it will not
cause delay in receiving their shares.

As a member with individual share we have the right to receive our dividends, fulfill
our obligation to our balances, and pay our monthly dues as stipulated in our minutes of
meeting dated January 16, 2021. Further, each member should strictly observe stated
hereunder:

 WHEREAS, it is a must that a member should conform to loanable amount

wherein it’s times two based on your share capital.

 WHEREAS, members with loan amount more than times two of their share
capital will be needed co-maker and pledge to their co-borrower to settle the said
amount based on specified term.

 WHEREAS, members who are not able to pay their monthly interest for 3 months
will consider as delinquent member and subject to remove from the cooperative
and total balance of the loan amount will be deducted from his or her share
capital and if there’s a remaining balance, the member will settle the said amount
and excluded the partition of dividends. However, if a delinquent member asks
for extension or additional grace period and provided acceptable reason to be
retained will be merited but it’s a case to case basis.
  WHEREAS, members who have outstanding balance will settle it before
December 15, 2021 or on or before December 20, 2021 during the distribution of
dividends to members.

 WHEREAS, member who has remaining dividends to be received will refer to

attached computation (amount to be distributed column). In the same token,
member with outstanding due will refer to the attached file as well (amount to be
collected column). Attached herewith as annex A

 NOW THEREFORE, upon signing this letter you take your right in receiving your
dividends and or full responsibility of your balances stated hereunder. Failure to
execute the abovementioned will lead to proper settlement of debts in the proper
authority.

Prepared by:

GIOVANNI A. ALCAIN, LPT, CST, (MAEd-LT-Candidate)

Received by:

____________________________________
(PRINTED NAME WITH SIGNATURE/DATE)