BESALA is a Non-Stock, Non-Profit Corporation engaged in the business of accumulating the savings of its members and using such accumulations for loans to its members and has been in operation since August 31, 1989. BESALA services the financial needs of its members by providing short-term and medium-term loans. It is authorized to engage in the operations of a non-stock savings and loan association under R.A. 8367, otherwise known as the “Savings and Loan Association Act”. It encourages frugality, extends loans to, and distributes its earnings to its members in the form of dividends.
There is no fee upon membership. New members are required to deposit P2,100.00 non-withdrawable deposit to open a Capital Contribution Account.
Yes, Retired Employees of Coca-Cola Beverage Group can still be a members of BESALA, provided that the 3-year period has not lapsed from date of resignation from the Association (BESALA). Retired Employees may still continue his membership with BESALA even after his resignation from the Company (CCFPI, TRCI or CCBBS).
Yes, BESALA allows re-activation of membership. If a former member already resigned from Coke and BESALA he/she can still re-activate within three (3) years from the date of his resignation from BESALA.
Yes, this is in compliance with BSP regulations. When there are changes in your personal information, e.g. Marital Status, change in employment status, change in home address, changes in the signature of the member, etc., the member is required to update his/her membership profile.
The following are considered as valid ID’s
10.GSIS e-Card /UMID
12.Senior Citizen Card
16.Alien/Immigrant Certification of Registration
18.Certification from NCWDP
Yes, you have the option to continue your membership with BESALA.
Net Disposable Income is the amount available for use of the member. It is also used in determining the capacity of the member to pay off monthly amortization of loan.
Yes, you can avail of an Emergency Loan and/or a Medium-Term Loan depending on your paying capacity.
You can renew your loan when you have paid at least 30% of the amount borrowed.
It is the maximum loan amount that is allowed per member. It is computed by multiplying the basic salary and allowances by 13 and adding capital and savings deposit balance.
Yes, Upon request of the member. If upon evaluation, his/her net disposable income is sufficient to cover the additional loan amortization of new loan which will cover payment of existing loan to be paid out plus an increment amount.
No, Co-makers must be active Members of BESALA.
Yes, if the Principal Borrower has sufficient balance in his/her Capcon or Savings deposit the amount that had been charged to his/her co-maker shall be return. Likewise, if the Principal Borrower applies for a new loan, the amount that had been charged to co-makers will be deducted from the proceeds of the new loan of the principal borrower and the same shall be return to the co-maker.
Death Aid benefit is the financial assistance extended to the immediate family of a deceased BESALA member. Each active member contributes P30.00 to the Death Aid Benefit upon the demise of a member.
No. Since the Back to back loan is a secured loan, there is no need for co-makers upon loan application.
The number of required co-makers shall depend on the amount of loan applied for. Please refer to the loan application form for the number of required co-makers.
All members are required to fill up the capital contribution declaration form in order to set up the minimum and maximum amount of capital contribution the member must maintain. In no case shall a member’s capital contribution exceed P500,000.00.
The maximum amount set by the member shall be followed. In case the member’s capital contribution has reached the maximum amount he/she has set, any subsequent deposit shall be directly credited to his/her savings account.
Yes, Members may opt to increase their desired maximum capcon but in no case shall it exceed P500,000.00.
The Interest and Dividend earned on deposits are not subject to withholding or income taxes.
For example, If a member’s capital contribution earned P1,000 in dividends, no amount will be withheld. The member will receive the full P1,000.00.