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Aflatoun Savings Deposits


ADVOCATES YOUTH EMPOWERMENT

The Mandaue City Public Market Vendors Multi Purpose Cooperative (MAVENCO) is the mother/guardian cooperative of the newly registered laboratory cooperative in the name of MAVENCO Youth Laboratory Cooperative (MYLAB Coop). The MYLAB Coop was registered last September 2014 with the Cooperative Development Authority. MAVENCO as the guardian cooperative is a duly registered cooperative with the authority which assumes responsibility in the supervision and control of the operation of the affiliate laboratory cooperative.A laboratory cooperative is a cooperative organized by minors and affiliated with a guardian cooperative.Youth empowerment and governance is being promoted through Laboratory Cooperative.Thrift and savings as well are the values being acquired by the children/youth member-depositors, in which they who were the AFLATOUN depositors or members are also the ones considered as the original cooperators from the respective schools and community where the guardian cooperative (MAVENCO) has been operating.

HOW TO BECOME A MEMBER IN MYLABCOOP
Monetary Requirements

Initial Deposit P 20                          
Maintaining Balance P 500
Interest Rate 4% P.A
  • Open to all 0-17 years old
  • Open an account for at least P20 with free passbook
  • Maintain for at least P 500 for qualify to earned interest
  • Bears with competitive interest rate of 4% per annum
  • Interest earned is tax free
Documentary Requirements
  • Properly filled aflatoun membership form with parents consent