ADBEMC Membership
By Category (As Of October 2024)
8
ASSOCIATE
18
LWOP &
PROFESSIONAL
387
RETIREE
1,097
SUPPORT STAFF
APPLICATION OF MEMBERSHIP
An applicant should secure and submit to the ADBEMC a Letter of Application for Membership that expresses his/her interest to join the Cooperative and attend the pre-membership seminar. Upon completion of the pre-membership seminar, an applicant will submit
Membership and Subscription Agreement Form (2 original copies);
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- Membership Profile and Designation of Beneficiaries Form;
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- 1 x 1 ID picture for the membership identification card;
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- Membership fee of P100;
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- Initial share capital contribution:
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- for member employees and associate members - at least One Hundred Pesos (P100) corresponding to one (1) share be paid upon submission of the application for membership;
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- for member-retirees - minimum amount of P5,000.
ASSOCIATE MEMBERS
Composed of the ADBEMC management staff, who have no rights to vote or be voted upon for any position in the ADBEMC and shall be entitled only to such rights and privileges as the ADBEMC By-Laws may provide.
REGULAR MEMBERS
Composed of Filipino and of the ADB
TYPES OF MEMBERS
The membership of the ADBEMC is open to all Filipino employees and retirees of the Asian Development Bank (ADB) and the ADBEMC management staff, who are of legal age, citizens of the Philippines, and with capacity to contract. The membership shall be classified into two categories, namely:
DUTIES OF A MEMBER
Every regular member shall have the following duties:
• Pay the share capital subscription as it falls due and to participate actively in the capital build-up of the ADBEMC;
• Patronize its business regularly;
• Participate actively in its parliamentary affairs;
• Attend the GAs, regular or special;
• Obey the rules and regulations prescribed in the Cooperative Code of the Philippines, ADBEMC articles of cooperation and the by-laws, the decisions of the GA and the Board of Directors, and policies and decisions that may be promulgated by the CDA; and
• Promote the aims and purposes of the ADBEMC, the success of its business, the welfare of its members, and the cooperative movement as a whole.
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Every associate member has the same duties, except that they do not participate in the ADBEMC’s parliamentary affairs.
Every Regular Member who is entitled to vote has the following rights:
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• Participate in the deliberation during membership meetings;
• Vote on all matters taken up in such meetings;
• Seek any elective position, subject to the provisions of the ADBEMC By-Laws;
• Avail of the services of the ADBEMC without any discrimination upon compliance with the conditions and requirements thereof;
• Inspect and examine the books of accounts, the minutes books, the share register, and other records of the ADBEMC during normal office hours; and
• Exercise other rights and privileges of membership.
Every Associate Member has the following rights:
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• Avail of the services of the ADBEMC without any discrimination whatsoever upon compliance with the defined conditions and requirements thereof;
• Participate as member of special committees that may be formed or created by the Board;
• Participate in the deliberation during the membership meetings but without voting rights;
• Inspect and examine the books of accounts, the minutes books, the share register, and other records of the ADBMEC during office hours; and
• Exercise other rights and privileges of membership.
RIGHTS OF A MEMBER
BENEFITS
Upon receipt of Letter of Acceptance, a member can avail of ADBEMC products and services subject to specific terms and conditions.
As a standard benefit, a member is also entitled to Patronage Refund, Interest on Share Capital. These benefits are described in the succeeding sections.
1. Christmas Give-aways
In the spirit of sharing and giving during Yuletide season, the ADBEMC distributes Christmas give-aways to all members as of a given date as determined by the Board of Directors.
2. Birthday Gift
A member who celebrates his/her birthday is given a cash gift of P200 by crediting his/her ADBEMC savings account or through claim over-the-counter at the end of the birthday month.
TERMINATION
A member who wishes to terminate or withdraw his/her membership with the ADBEMC must submit a written notice to the ADBEMC.
ADBEMC then accepts the resignation by issuing a letter of acceptance coming from the Chair of the Membership Committee. The withdrawing member is required to surrender the following:
a. membership identification card;
b. share capital certificates, if there is any;
c. all passbooks issued to him/her;
d. duly notarized Affidavit of Loss, in case of loss of any of the above.
The summary of accountabilities will be prepared by the ADBEMC. Should there be still an amount due after offsetting the share capital, savings and time deposits (if applicable), the withdrawing member will be requested to pay the amount over-the-counter. Upon settlement of the accountabilities or completing the documents on withdrawal of membership, the withdrawing member will also be required to sign a Quit Claim Form.
EXPULSION OF MEMBER
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A member may be terminated by the general assembly upon recommendation of the Board of Directors for any of the following causes:
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(i)for not patronizing the products and services of the Cooperative;
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(ii)continuously failing to comply with his/her obligations;
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(iii)acting in violation of the By-Laws and the rules of the Cooperative; and
(iv) for any act or omission injurious or prejudicial to the interest or the welfare of the Cooperative. The observance of due process and constitutional rights shall be granted to an offending member.
RE-APPLICATION
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A member who has voluntarily terminated his/her membership may re-apply after one year.
Re-application for membership is treated as new application and is limited to three (3) times upon acceptance, treatment is same as a new member.
An expelled member cannot re-apply for membership.