RECEMPCO > Welcome Loan

Welcome Loan

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Welcome Loan

As a newly joined member, whether as a regular or associate member, we are pleased to offer you a valuable benefit designed to provide immediate financial support — the Welcome Loan. This loan is specifically tailored to help you meet various personal financial needs, whether it’s for urgent expenses, home improvements, education, or any other purpose.

We understand that financial flexibility is essential, especially when you’re getting started with your cooperative membership. With our Welcome Loan, you can access the funds you need quickly, with terms that are designed to be easy and manageable. This is just one of the many ways we support our members in achieving their financial goals, helping you navigate life’s challenges with confidence.

As part of our cooperative, you will enjoy not only access to this loan but also a wide range of financial services and opportunities that cater to your needs. Take advantage of this exclusive benefit and get a strong start on your financial journey with us! Apply for the Welcome Loan today and experience the support of your cooperative.

Loan Requirements

• Equity requirement: 10% of the loanable amount
(deductible)• Interest rate: 15% per annum-diminishing
monthly• 2% Service Fee
• Loan is offered within the 1 year of being a
RECEMPCO member
• Maximum loanable amount/Term
- For REGULAR EMPLOYEES : 100,000/
36 Months
- For Plantilla Casual: 60,000/12 Months
• Requirements:
- For Plantilla Casual: To provide
co-maker (regular member of RECEMPCO)
- Initial Deposits (Membership

  • As a new member, the cooperative will need to verify your employment and other relevant information as part of the application process. This typically takes 1-3 business days. Once your details have been confirmed, you will be notified of the status of your loan application.

  • The loan amount you can borrow is based on your net take-home pay, as well as the cooperative's current policies.

  • Yes, the Welcome Loan is flexible and can be used for a wide range of personal expenses, such as medical bills, tuition fees, home repairs, or other financial needs.

  • The Welcome Loan is a one-time benefit for new members. However, once you’ve paid off the loan, you may be eligible for other loan products offered by the cooperative.