The 3rd quarterly meeting agenda included: 1) No longer releasing new loans unless an emergency; 2) Suggesting monthly payments for delinquent members and those with over 2x their share capital in loans; 3) Issuing promissory notes to delinquent members pending member approval; 4) Total accumulated interest as of October 16, 2021 was 64% and projected to be 75-85% by December 15; 5) An open forum to discuss penalties for absent members as outlined in the co-op's initial agreement.
The 3rd quarterly meeting agenda included: 1) No longer releasing new loans unless an emergency; 2) Suggesting monthly payments for delinquent members and those with over 2x their share capital in loans; 3) Issuing promissory notes to delinquent members pending member approval; 4) Total accumulated interest as of October 16, 2021 was 64% and projected to be 75-85% by December 15; 5) An open forum to discuss penalties for absent members as outlined in the co-op's initial agreement.
The 3rd quarterly meeting agenda included: 1) No longer releasing new loans unless an emergency; 2) Suggesting monthly payments for delinquent members and those with over 2x their share capital in loans; 3) Issuing promissory notes to delinquent members pending member approval; 4) Total accumulated interest as of October 16, 2021 was 64% and projected to be 75-85% by December 15; 5) An open forum to discuss penalties for absent members as outlined in the co-op's initial agreement.
AGENDA: 1. No more releasing of loans (unless otherwise if it's emergency) 2. suggested monthly payment ( for principal loan and interest) for delinquent and those who have loan more than x2 of their share capital 3. Issuance of promissory letter/note for those delinquent members ( upon approval of the majority of the members) (mag-issue og promissory note if dili pa ma settle ang balance inig ka December 15, 2021. Tagaan og 5 ka adlaw na logyaw aron ma settle ang balance) 4. Total accumulated interest (%) (as of October 16,2021 naa na ta sa 64% (projected interest until December 15,2021 around 75%-85%) 5. Open forum ( ang absent karon kay ma pa penalty ta as per nasabotan nato sa sugod palang sa tong coop- Ang amount sa penalty is idungag nato sa dividends). THANK YOU