FACTS ABOUT CWSLAI LOYALTY INCENTIVE (CLI)

 

Q: What is CWSLAI Loyalty Incentive or CLI?

 

A:  CLI is an incentive given by the Association to its member-borrowers for loyalty and continuous patronage of our loan products.

 

Q: When was the CLI approved?

 

A:  CLI was unanimously approved by the BOT during the Regular Board Meeting held on January 29, 2015. 

 

Q:  Who are entitled to CLI?

 

A:  All members with existing loan on a CURRENT Status as of December 31, 2014, provided said loan was granted before 2014.   

 

Illustration: List of loans (Borrower A)

 

 

 

 

 

 

 

 

 

 

Q: How do we compute for the CLI using the illustration above?

 

A: CLI for entitled loan is computed by multiplying the Interest paid for 2014 by 3% (as approved by the BOT) in this case;

 

CLI for 60ML of the borrower is equals to P300.00.

 

P10,000.00 x 3%=P300.00

 

Q: Since his 60EL did not qualify for CLI for 2015 when can he be qualified to receive CLI?

 

A:  His 60EL shall be qualified for 2016 CLI.  (5,000.00 x 3%=150.00)

 

Q: Are terminated accounts after December 31, 2014, qualified for CLI?

 

A:  No.

 

Date of Loan

Loan 

Type

Amount of loan

Interest Paid

2014

Entitled to CLI

9/13/2013

60EL

60ML

40,000.00

80,000.00

5,000.00

10,000.00

NO

YES

1/2/2014