CD Social Welfare Club
Membership Benefits
>Mechanics / Procedures:
- Member are required to pay the one-time membership fee of Php100.00 and regular Php10.00 monthly dues to be paid in quarterly basis (Php30.00) on or before 25th day of the 2nd month of the quarter (February 25, May 25, August 25, November 25) to the designated Municipal Coordinator or directly to CDWMCI One Network Bank account;
- Member will also earn one (1) point equivalent to Php1.00 in every Php100.00 worth of product purchased or services rendered by the subsidiary organizations and enterprises duly accredited with CDWMCI. Points provisionary receipt and ledger will be provided to member for record keeping and validation;
- Monthly member’s contribution and earned points which is convertible to monthly dues will be allocated as follows; 50% for members’ emergency assistance, 30% as Reserve Fund/Savings and 20% for Administrative Expenses;
Sample computation:
-100 members monthly dues @ Php10.00 = Php 1,000.00
- Plus excess members’ earned point & some donations = 500.00
Total = 1,500.00
>Members’ emergency assistance (50%) = Php750.00
>Reserve Funds/Savings (30%) = 450.00
>Administrative Expenses (20%) = 300.00
Total = 1,500.00
- Fund Release: Fifty percent (50%) of the total monthly contributed dues and earned points/ donations shall be made available for release to members in need of emergency assistance, provided that he/she contributed continuously for six (6) months or two (2) quarters before the incident.
- Schedule of Fund Release: Member are only allowed the once in every six (6) months or twice a year Emergency Assistance as recommended or endorsed by the Municipal Coordinator, subject for changes depending on the funds raised by CDWMCI to better serve its members. Cut-off date for members’ emergency assistance request is every 25th day of every month;
- Basis of Allocation: Previous quarter members’ contributions and earned points and donations will the basis of allocation, presented as follows:
January ← April ← July ← October
February ← May ← August ← November
March ← June ← September ← December
- Quarterly Surplus Allocation: Quarterly Surplus derived from Reserved Funds/Savings shall be reallocated every 25th day of the last month of the quarter as follows:
30% - Emergency Medical Assistance/ Health related programs
30% - Education and Training Fund (Scholarship)
40% - Livelihood projects expansion/setting-up of social enterprises
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