MEMBERSHIP

A.Benefits of being a SESLA member


1. High Dividend Rates for your Capital Contribution


Based on the results of its operations for the year, the association declares dividend at a rate determined by the board of directors and paid to all its members in December. For the past years, SESLA has declared a double digit interest rate, TAX FREE! Compare this to other commercial banks, and you will see the benefit of keeping your money with us.


2. Competitive Interest Rate on Loans and Time Deposits


SESLA offers Time Deposit at an average rate of 5% p.a., also tax free. Our interest on loan is computed based on diminishing balance method which makes the cost of borrowings a lot lower compared to other financial institutions.


3. Stability and Assurance for your Money


The fifty-four years of existence has been characterized by a strong and healthy financial performance. Our association is manned by a competent management team and professional staff who are committed to providing the best quality service our members deserve.


4. Accessibility


SESLA office is located at the 3rd floor of Shell House Building, thus bringing our service closer to your doorstep.


B. Membership Requirements


Membership in the association is opened to all active and retired employees of Shell Companies in the Phils., and permanent staff of SESLA, provided they submit the following documents:


1. Proof of Regular Employment
2. Duly accomplished Membership Forms
3. Initial Deposit of P2,500.00


C. Termination of Membership


1. Voluntary


Members who wish to terminate their accounts may apply for such at the SESLA office. Applicants should have no loan balance and or not a co-maker of delinquent account on the day of filing. Upon termination of membership, the balance of his capital contribution plus the interest earned during the period is paid to the member after due processing.


2. Termination for deceased members


Membership in the Association is automatically terminated upon the death of a member.


3. Requirements


a. Withdrawal Form (for Voluntary Termination)
b. Death Certificate
c. Marriage Contract
d. Certificate of legal beneficiaries/heirs
e. Birth certificate of children
f. Birth certificate of deceased member
g. ID of claimant