President Rodrigo Duterte has placed Metro Manila and other high-risk areas back to MECQ (Modified Enhanced Community Quarantine) for 15 days effective today, August 4, 2020 amid the continued threat of COVID-19.
Although Republic Act 11469, otherwise known as the "Bayanihan to Heal As one Act", has already expired last June 25, 2020, for humanitarian reasons, the board has nevertheless agreed to grant a 30-day grace period for payment of loans falling due on the August 2020 payroll run.
As with previous grace period arrangements, this is optional and does not preclude those wanting to pay their obligations on time.
For those who would like to avail of the August 30-day grace period, please click HERE to read the policy and how to avail. Kindly note that, consistent with BSP and CDA guidelines, additional interest will accrue during the 30-day grace period.
To allow us to promptly process your request, members must inform the Coop on or before August 11, 2020 if they are availing of the 30-day grace period.
