THE board of trustees of Meralco Employees Savings & Loan Association Inc. (Mesala) has approved the reclassification of Mesala members’ dependents as special members. In a memo dated May 24, 2011, Mesala general manager Alfredo Ramos bared the revised guidelines for dependents’ membership in the association. Qualified to enroll as special members are relatives by consanguinity, that is, the member’s parents, legitimate children, and brothers or sisters of the same parent; and his or her legitimate spouse. However, members’ relatives with existing accounts shall be allowed to continue the same.
To become a Mesala member, the relative must submit a completed membership card for special members endorsed by the regular member; proof of relationship with the regular member, such as birth certificate, adoption documents, or marriage contract issued by the National Statistics Office; valid photo IDs; utility bills indicating the applicant’s permanent address; and P100 membership fee.
The P100 membership fee of existing member dependents shall be debited from their outstanding deposits with the association; they will be given one year from effectivity date to submit the accomplished membership card for special members.
The account shall be classified as exmember if the dependent fails to update his or her membership record. With a capital contribution of only P1,000, the member already earns a dividend. Savings deposits must have a maintaining balance of P300; this earns a prevailing rate of 3% per annum. All earnings of the capital contribution and deposits are tax exempt. Special members may also enjoy loan benefits provided they meet the requirements thereof. For more info, call 632-8604 or 632-8834 or email This email address is being protected from spambots. You need JavaScript enabled to view it.
or cash_savings@mesala. com.ph