Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | http://www.paglaumcoop.org.ph/ |
Year established | 1992 |
Head of Institution | Gadwin E. Handumon |
Regions active | |
# Branches | 14 |
Total Portfolio (nat'l) | PhP 247,944,967 |
Total Portfolio (USD) | USD 5,931,697.78 |
Active clients with loans | 21,775 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 0% - 20% |
Network affiliations | MASS-SPECC, NATTCO, Association of Asean Confederation of Credit Unions (AACCU), Microfinance Council of the Philippines, Inc. (MCPI) |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Barangay Official Livelihood Assistance | PHP 500 - 15,000 | 6 - 36 | 60% - 80% | 0% - 20% | Any Purpose | Women, Men, Barangay Officials | Credit Educ, Credit Ins | |||||||
Emergency Loan | PHP 500 - 2,000 | 3 - 6 | 60% - 80% | 0% - 20% | Other, Open to all regular and PDP members who are MIGS i, < 60 years | Women, Men | Group Mtgs | |||||||
Housing Loan Program | PHP 50,000 - 300,000 | 12 - 26 | 80% - 100% | 0% - 20% | Housing | Women, Men | Credit Educ, Credit Ins | |||||||
MEDAL 1 | PHP 5,000 - 5,000 | 3 - 6 | 60% - 80% | 0% - 20% | Business | Women, Men, Have business, Must be Coop member | Credit Educ, Group Mtgs, Credit Ins | |||||||
Motorcycle Loan | PHP 60,000 - 120,000 | 12 - 36 | 60% - 80% | 0% - 20% | Consumer | Women, Men, Must have MIGS status, Must be Coop member | Credit Educ, Credit Ins | |||||||
Pension Loan | PHP 10,000 - 100,000 | 6 - 24 | 40% - 60% | 0% - 20% | Any Purpose | Women, Men, Must be pension holder, Must be <80 years | Credit Educ, Credit Ins | |||||||
Project Loan (Micro-Regular Loan) | PHP 500 - 150,000 | 3 - 18 | 80% - 100% | 0% - 20% | Business | Women, Men, Must be Coop member | Credit Educ, Credit Ins | |||||||
Regular Loan | PHP 500 - 1,000,000 | 1 - 36 | 60% - 80% | 0% - 20% | Business, Housing, Consumer, Education, Other | Women, Men, Must be Coop member | Credit Educ, Credit Ins, Tech Asst Visits, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Barangay Official Livelihood Assistance | 22.8% annual, Flat | 2 Fees | 2 Ins | None | 6.5% upfront 26.00 ongoing | 44.9% - 52.7% | 59.2% - 79.8% | 35 | ||||||||
Emergency Loan | 30.0% annual, Flat | 2 Fees | 2 Ins | None | 6.5% upfront | 76% - 81.7% | 174% - 194.8% | 16 | ||||||||
Housing Loan Program | 21.0% annual, Decl Bal | 2 Fees | 2 Ins | None | 6.5% upfront | 24.4% - 24.5% | 31.1% - 34.2% | 64 | ||||||||
MEDAL 1 | 30.0%-36.0% annual, Flat | 2 Fees | 2 Ins | None | 6.5% upfront 26.00 ongoing | 13.4% - 84.8% | 22.1% - 114.2% | 68 | ||||||||
Motorcycle Loan | 21.0% annual, Decl Bal | 2 Fees | 2 Ins | None | 6.5% upfront 26.00 ongoing | 24.5% | 31.6% - 33.4% | 65 | ||||||||
Pension Loan | 36.0% annual, Flat | 2 Fees | 2 Ins | None | 6.5% upfront 26.00 ongoing | 61.6% - 70.8% | 70.1% - 85.5% | 47 | ||||||||
Project Loan (Micro-Regular Loan) | 30.0% annual, Flat | 2 Fees | 2 Ins | None | 6.5% upfront 26.00 ongoing | 55.1% - 79.9% | 66.2% - 175.4% | 32 | ||||||||
Regular Loan | 36.0% annual, Flat | 2 Fees | 2 Ins | None | 6.5% upfront 26.00 ongoing | 69.9% - 88.7% | 83.2% - 122.6% | 37 |
Outstanding portfolio (PKR) | PKR 31,831,703 |
Portfolio (USD) | USD 324,813.30 |
Active Clients with Loans | 458 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 6 |
# Regions for this product | 2 |
Regions Active | Punjab, Sindh |
Currency | PKR |
Minimum loan size | PKR 35,000 |
Maximum loan size | 150,000 |
Loans less than PKR 10,000 | 0 |
PKR 10,000-25,000 | 0 |
PKR 25,000-50,000 | 20% |
PKR 50,000-75,000 | 50% |
PKR 75,000-150,000 | 30% |
Greater than PKR 150,000 | 30% |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 90% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 24.00% |
Highest quoted nominal interest | 24.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | loan processing feee | Jewelery Appraisal Fee | |
% of loan amount - min | 0 | 0 | |
% of loan amount - max | 0 | 0 | |
OR, Fixed amount - min | 550 | 500 | |
Fixed amount - max | 1,450 | 500 | |
Reason for variation | Fee applies on different loan slabs. Insurance fee is part of processing fee | N/A | |
Appears on Repayment Sched? | Yes | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | Yes |
Percentage of fees | 16% |
All or some fees taxed | Some |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | PKR 48,000 | PKR 53,000 | PKR 100,000 | PKR 102,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-01-08 | 2013-07-09 | 2013-04-08 | 2012-11-08 | |||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | 12.0 months | |||
Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | 0.0 months | |||
Total Cost of Credit | PKR 12,158 | PKR 13,359 | PKR 25,014 | PKR 15,139 | |||
True Price by Comp | |||||||
Interest price component | 24.0% | 24.0% | 24.0% | 23.8% | |||
Fee Component | 1.4% | 1.3% | 1.1% | 2.3% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.3% | 0.2% | 0.2% | 0.4% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 25.7% | 25.5% | 25.3% | 26.5% | |||
Transparency Index | N/A | N/A | N/A | N/A | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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