Permanent Address / Educational Information

Source of Income / Identification

Dependents / Beneficiaries





The Board of Directors
Novaliches Development Cooperative

NOVADECI Bldg., Buenamar corner
Sarmiento St., Novaliches
Quezon City


               I    , a resident of   hereby agree to be a member of NOVADECI. I will undergo the training course prescribed for prospective members and I understand the puposes and objectives of this cooperative.

               In connection with such membership, I hereby agree to the following terms and conditions:

               1. To comply with the provision of the Articles of Cooperation, the By-laws, Code of Ethics and other policies set by the Board, the General Assembly as well as acts of duly constituted
                   authorities and failure on my part to do so, NOVADECI, at its option, may:
                   a). Fine
                   b). Suspend or
                   c). Expel me from membership, whereupon all my shareholding in, shall be answerable for my liabilities' to NOVADECI.

               2. To attend general assembly, meetings, conference, seminars as required by the Board of Directors and failure to my part to do so, unless previously excused by the Board, to pay the fine of
                   P____________ and make up for the activity I have missed.

               3. To participate in the planned thrift and savings program by:
                   a). Subscribing for atleast 150 shares valued at FIFTEEN THOUSAND PESOS (Php15,000) and paying for them either in lump sum or in regular installments within ten (10) years. if the 150
                        shares has already been paid, I will continue on subscribing another shares of at least php1,500.00 annually.
                   b). Share Capital shall not be withdrawn and should not be used in offsetting obligations whether past due or current while the membership subsists (RA #9520 Rule 10 Sec. 3).
                   c). Contributing at least 5% of every loan granted me and at least 50% of the annual interest and patronage refund due to me with automatic deduction on loan proceeds or ICPR. Failure on
                        my part to comply with my financial obligation unless excused by the Board, shall make me liable for a fine of 2% a month on the amount default.

               4. To pay the membership fee of Php ____________.

               5. To patronize the NHCP, NMSB and other services of NOVADECI and pay my obligations on time.

               6. To maintain my member in good standing (MIGS) status at all time.

               7. To comply with the directives of duly constituted authorities as well as the decision of the Board regarding the operating policies of NOVADECI.

               ( Note: Other conditions may be included depending upon the nature of the business of the cooperative. )

               The provisions of this agreement, the articles of incorporation and by-laws have been explained to me and understand them and agree to abide with all of them.

               In all of the above undertakings, I am aware that the Board of Directors and the cooperative may impose sanctions against me or perform any acts necessary to make the sanction(s) effective without going to court.

                  Ma.Theresa G. Drueco   
               Chairperson of the Board