1. Membership Eligibility:
- Prospective members must be endorsed by a minimum of 2 existing members.
- Monthly contributions for all members should fall within the range of Php 2,000 to Php 16,000 for 12 months.2. Loan Eligibility:
- Loans are open to both members and non-members, payable from January to November 2026.
- Non-members can apply for loans but require a guarantor.
- Both members and non-members can apply for loans, with a maximum amount set at Php 100,000.
- Member loan applications take precedence over non-member loans, provided they notify the admin at least 2 weeks before 15th of every month.3. Interest Rates:
- Member loans carry a 1% interest rate.
- Non-member loans have a 3% interest rate, with 2% directed to the fund and 1% as a referral commission.4. Loan Duration:
- All loan repayments must be completed by the last month (November) of the Savers Period.
- For example, if a loan starts in September, the repayment period spans October and November only.5. Guarantor System:
- Members seeking amounts of 100,000 pesos and above will require a guarantor.
- For non-member loans, the guarantor is responsible for ensuring that loan payments are made on time.6. Existing Loan Considerations:
- As long as a member or non-member is paying their loans on time, they can apply for another loan.
- Members with demerit points can be rejected for another member and non-member loan application7. Loan Approval Process:
- Approval of loan applications is subject to guarantor/s and admin approval.
- Any approved loans will be released on or before 22nd of the month.8. Loan Repayment:
- Monthly loan payments are due by the 15th day of each month, with a grace period until the 20th.
- Failure to comply with repayment schedules may result in late payment fees equivalent to 1% of the loan payment for the month.9. Record Keeping:
- The designated group treasurer is responsible for maintaining accurate and updated records of contributions, loans, and repayments.
- Individual balances and fund summary will be shared by the admin and treasurer every end of the quarter - February, May, August, and November.10. Dispute Resolution:
- Disputes or concerns related to loans, contributions, or group matters should be resolved through open communication among members.11. Amendments to Rules:
- The group retains the right to amend or modify these rules with the consensus of the majority of members.12. Group Meetings:
- Annual group meetings are scheduled to discuss matters related to contributions, loans, and overall group welfare before the start of the Savers Period.By being a member of SAVERS, each members agrees to comply with these rules and contribute to the collective success and financial well-being of the group.

Savers: A group of individuals pooling funds to lend within their community.Savers Period: The duration from December to November of the following year.Monthly Contribution: The amount contributed by each member, ranging from Php 2,000 to Php 16,000 per month.Advanced Contribution: Members can make advanced contributions starting from December, totaling up to 12 months.Interest Rate: The percentage applied to the loan amount as a charge for borrowing.ROR: Return on Investment.Member: An active participant contributing a monthly amount within the specified range.Non-member: An individual not formally part of Friends Savers, eligible to apply for loans under specific conditions.Loan Amount: The total sum borrowed by a member or non-member, subject to predefined limits.Guarantor: A Savers member vouching for a non-member borrower or another member's loan, assuming responsibility if the borrower fails to repay.Individual Balance: The financial status of a member, detailing contributions, income, total balance, and Return on Investment (ROR), shared by the admin and treasurer quarterly - February, May, August, and November.Loan Payment: The repayment of the borrowed amount.Contribution and Loan Payment Date: Every 15th of the month, with a grace period extending up to the 20th.Total Late Payment Fee: A penalty of 1% of the loan payment for the month multiplied by the number of days the payment was delayed.Demerit Points: If a member/guarantor missed a loan payment deadline regardless if it is a member or non-member loan, he/she will receive a demerit point and can be used as a valid reason to reject a future loan application.Offset: In November 2026, if a member has an existing loan, he/she can offset that amount to their final payout.Savers Payout: At the end of the savers period in November, the treasurer will release the payout to each member. The target date of release is December 1.Admin Fee: 1% of the total fund balance as of November.