AI Website GeneratorBESALA 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. 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 member of BESALA, provided that the 1-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 retirement from the Company (CCBPI or CCBBS).
Yes, BESALA allows re-activation of membership. If a former member already retired from Coke and resigned from BESALA. He/She can still re-activate within one (1) year 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 needs to update his/her membership profile.
The following are considered as valid ID’s
1.Passport
2.Driver License
3.PRC ID
4.NBI Clearance
5.Police Clearance
6.Postal ID
7.Voters ID
8.TIN
9.Barangay Certification
10.GSIS e-Card /UMID
11.SSS ID
12.Senior Citizen Card
13.OWWA ID
14.OFW ID
15.Seamans Book
16.Alien/Immigrant Certification of Registration
17.GOCC ID
18.Certification from NCWDP
19.DSWD Certification
20.IBP ID
21. National ID
22.Company ID
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 your loan payment has reached the 30% of the amount borrowed.
It is the maximum loan amount that is allowed per member. It is computed by multiplying the regular salary and allowances by 12 plus capital and savings deposit balance.
Yes, if upon evaluation the net disposable income of the member is not sufficient to cover the additional loan due to an existing loan deduction of the member from another lending institution.
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 returned 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 to get co-makers upon loan application.
Effective December 1, 2023. Co-makers are no longer a requirement upon loan availment. However, you need to insert three (3) Character Reference in the loan application as part of credit investigation/background checking during loan processing.
However, co-makers of loans prior to December 1, 2023 are still bound by its terms and conditions. Thus, these co-makers may still be charged by loan arrearages of principal borrower.
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. But once you increased the declared Capital Contribution it can No longer be reduce.
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.
Yes, you may withdraw the amount in excess of Restricted Value.
Restricted Value is the total of the following:
1. Fixed Non/Withdrawable Capital Contribution
2. 20% of Principal Loan Balance (these are for loans granted prior to Dec 1, 2023) and;
3. 40% of Principal Loan Balance (these are for loans granted Dec 1, 2023 onwards
No. However, the following may allow to withdraw out of Restricted Value;
1. Amount that had been charge to co-makers but subsequently collected from the principal borrower and credit the amount to the co-makers
2. Overcollection of Loan Amortization
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