The purpose of SEDPI Joint Venture Savings (JVS) is to provide members with a unique savings solution that allows them to reach their long-term financial goals while also making a positive impact on society through social investment. SEDPI JVS offers a way for savers to grow their wealth over time while also contributing to the development of communities and addressing important social issues. By combining the dual benefits of financial growth and social impact, SEDPI JVS is designed to appeal to individuals who are looking for a meaningful and fulfilling way to save for their future.

SEDPI JVS requires an opening deposit of PhP 10,000 and additional deposits can be made in multiples of PhP 10,000. This savings product operates on a first come, first served basis due to the limited funding needs of the projects it supports. Once a project has reached its funding goal, it will be closed to new deposits. However, if a member decides to withdraw their deposit, the project may be reopened for additional deposits.

Unlike conventional savings products that earn interest, SEDPI JVS operates on a profit sharing basis, allowing savers to share in the profits generated by the social investment projects they support. The earnings on the deposits can be calculated based on either the diminishing balance or average daily balance method. As a tax-free savings solution, SEDPI JVS allows members to keep more of their hard-earned money through higher net earnings compared to other traditional financial products that are taxed. It must be emphasized that this product is not guaranteed.

The withdrawal processing time is 14 days, as SEDPI Coop is not a bank and is continuously improving its system. This allows time for the validation of member identity and bank deposit processing, as well as finding a replacement for the withdrawn funds, which incurs additional costs. As such, SEDPI Coop imposes a 3% exit fee if a member decides to withdraw their deposit before the 2-year holding period. This 2-year holding period is in place to manage the liquidity of the coop and to align with its mission of promoting long-term savings and social investment.

Another unique feature of SEDPI JVS is its regular payout periods, which could be monthly, quarterly or annual. The payouts are deposited directly into the SEDPI Pitaka, which serves as a repository account for the principal payments, profit share and reserve or excess deposits of members. The outstanding balance in the SEDPI Pitaka does not earn interest, so members are encouraged to reinvest their payouts in other socially responsible investments (SRIs) to continue earning and making a positive impact on society.

The withdrawal procedures for SEDPI Joint Venture Savings (JVS) ensure the security and accuracy of transactions. It is important that the information sent through the online withdrawal request matches the records on file with SEDPI Coop. Additionally, each socially responsible investment (SRI) account would need a separate withdrawal transaction request, as these are separate accounts. For withdrawals to an individual’s own bank account, the bank account name must match the name used in the SRI Online account and in the member’s government-issued ID. For withdrawals to a different bank account, the bank details and government ID of an authorized representative are required, along with an authorization letter. Bank remittance fees will be charged to the member’s account.

Invest in your future while making a positive impact on society with SEDPI Joint Venture Savings. Join now, be a KaSosyo member, and be part of a community committed to promoting long-term savings and socially responsible investments.

Register as a SEDPI Coop member. Attend a quick self-paced online pre-membership education seminar.  Click this.
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