Monday, October 5, 2009

Loans offered online?

If you are a member of FICCO who is out of the country right now.

  1. How would you react if FICCO will offer loan applications online? and evaluate your loan application online?
  2. Would you be willing to avail loans online?
  3. Are you convenient with bank transfer? loan releases and loan payment?
If you have any comments on this please email or comment below.


kate said...

sir/maam, can i avail loan to your company even if i am not a member?i am planning to avail loan amounting to 200k it can be a salary loan payable in 1yr. my husband is a government employee earning 28,000 gross salary w/ no outstanding loans... other option is that we own a computer shop here in pangasinan. pls do give me options to make. thank you & God bles

Toti said...

The new (RA9520) and old (RA6938)law provides that a cooperative should serve its members only.

In case the cooperative serve non-members the cooperative will be subjected to tax on its income from non members.

At FICCO we don't normally offer loans to non-members. It is provided for in its bylaws. Although it has a program for nonmembers called CASSE or Credit and Savings for Small Entrepreneurs, it is only offered at a very minimal amount of loan.

The least I can do is to open up your case during the ManCom and lets see what other managers have to say.

warwickfamily08 said...

I think Loan online is very convenient. It provides opportunity specially to those who are working abroad but having a residence here in the Philippines. The are some circumstances where a family member needs money for business venture, school fees, billings, finance for industrial or agricultural activities that sometimes, the person who are working abroad can afford it in two to three months salary, however, if he will spend it for lumpsum, it is difficult as well to meet other basic needs. Therefore, it is very helpful that a Ficco organization will able to extend loan to them because base on OFW salary, they will able to pay them monthly conveniently.
One facility I would suggest, is that Ficco will find way how an OFW remit direct to the office for their account deposit or loan payment. So that and also a ficco may provide statement of Account or standing, or status of their account, so that a debtor may able to access his outstanding balance and schedulle his payment either in advance or on due date. I know this will be possible. I believe in Ficco.!

Anonymous said...

hi im chery from abu dhabi,.. im a member in ficco and i just want to ask if im allowed to make LAD loan if i have 300k savings, will u allow me to take loan for 600k???i just want to clarify. thank you.

Toti said...


FICCO is still working how it could accept deposit and loan payments directly from members abroad.

If you want a statement of account or progress of your deposits and loan payments while you are abroad. I can help you with that you may just email me your details. FICCO branch, your account #, name, birthdate, and address. details are to ascertain ownership of the account. hope this help.

Toti said...

chery from Abu dhabi

LAD is loan against deposit therefore it will not be LAD because it is offered at most 95% of deposit. However, a Regular Loan is possible with REM real estate mortgage on properties as collateral for loan above 300T.

warwickfamily08 said...

Hi Toti,
Thank you very much for giving attention to my comments on this site. YEs- i may able to provide you with details and supporting documents for my identification. please send your email address to my email address so i could forward to you my documents for me to be able to avail your online service of providing statement of account and looking into my balance if in case i will make deposits or withdrawals thru my authorized representatives. Thanks, Elizabeth

Philip said...

I believe its more convenient for members who are working abroad.

I am a member though I stopped a few years already and I want to start my contributions again.

Can I have your e-mail??
my email is

Philip from Singapore

Philip said...

Hi Toti,

I believe it would be a great convenience for members working abroad. I am a member who stopped contributing since working abroad.
Is there any possibilities i can contribute again through online?

Please email me at

Thank you,
Philip from Singapore

cedric said...

I am a member since 2001 but when I work abroad I never stop contributing infact I just finished my loan account..Is there anyway for us who are out of the country to deposit online and at the same time can avail a loan tru online?

cedric said...

how I wish we could avail loans online and deposits as well..It's an opportunity for us who are out of the country..I never stop contributing though I just finished my loan balance recently..hope this could be takin action immediately..many tanx of cedric from london

Ruph said...

Hi Toti,

I was a member of FICCO since 2005. When I left the Philippines in 2006 I stopped contributing and all my savings were debited against my loans. Now, according to FICCO employees, I have to start again. I want to be a member again but I am Dubai and attending the membership seminars is a big issue for me. How could this be possible? I want to become a member of FICCO as I want to invest my hard earned money to this trusted cooperative. If you could help me, please reach me at my email: Thanks.

Anonymous said...

can I have the smart cell number of the person in charge in accepting postdated checks? I can't contact your landline 8572119/5871390/08822720233/8567703. i am an active member and have a loan.

Toti said...

Sorry for this late reply.

Membership in FICCO once inactive for a number of years will require you to undergo refresher by attending PMS. Purposely this is to update you with FICCO policies.If you have loans then it will surely be offsetted if no payment has been made for 3 months, that is the policy and it is also in the Promissory Note you signed.

What Branch are you a member of? Do you still have remaining savings and share after it was offsetted against your loan?

my email is if you have other concern please feel free to email me.

nids said...

i just open this site and im wondering if this is still active. i can see the last post was in 2011.

anyway, yes, the loan online is very convenient for members esp for those working abroad and has emergencies back home....and ficco should assigned depositories bank for OFWs in their respective hometowns

kIm said...

Is it possible to make bank payments for LAD as well as Share/Savings contribution? I am in Cebu right now and it's a hassle to ask someone from CDO go to FICCO main and make the payments/contribution on my behalf.. thank you

kIm said...

Is it possible to make bank payments for LAD as well as Share/Savings contribution? I am in Cebu right now and it's a hassle to ask someone from CDO go to FICCO main and make the payments/contribution on my behalf.. thank you

aisa elesterio said...

good Day!

Can I avail loan using salary loan?
What do things I need to do?

Thank you
Aisa Elesterio

Toti P said...

Sorry for late reply

If you are employed and your employer is willing to sign a MOA for payroll deduction or if your willing to leave your ATM with FICCO it should be ok.

Salary Loan application is different from Regular Loan check with your Branch.

Salary Loan Application
Certificate of Employment with Salary Net Pay indicated
Payslip photocopy

Theres no deposit lock in in this loan type, thats the last thing ive known.

Im no longer connected with FICCO im with CCB ( its own by cooperatives in the country FICCO also has share in it.

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