The Cebu CFI Community Cooperative (CFI) is one of the Philippines’ largest and most respected member-owned cooperatives based in Cebu City, Philippines. Founded in 1970 to protect court employees from high-interest lending practices, it began as a small group of 29 members led by Judge Esperanza Garcia and Judge Francisco Tantuico and ₱200 in capital. The acronym “CFI” which originally stood for “Courts of First Instance,” has expanded its membership base beyond judicial employees to the wider public, including individuals from all sectors—government or private—under its expanded “Community” scope under the evolved Cebu CFI Community Cooperative. Today, it serves over 170,000 members nationwide, has a multi-billion peso capital, and operates more than 30 branches.
As a cooperative, CFI is registered with the Cooperative Development Authority (CDA) and is governed by a 9-member Board of Directors. Its operations are led by a CEO and supported by over 300 staff across its Cebu headquarters and more than 30 branches nationwide. It currently offers savings, loans, investments, and an affordable health fund. The cooperative’s profits are also distributed back to members as dividends, patronage refunds, and tax-free interest on deposits.
CFI Cooperative Membership Benefits
Becoming a CFI member grants access to:
- Savings and time deposit options with tax-free interest
- Low-interest loan programs
- A Health Plan (MMAF) covering up to ₱100,000 in medical expenses
- Dividends and patronage refunds based on cooperative profits
- Participation in general assemblies and equal voting rights
- Access to CFI’s virtual credit tools like the CFI Credit Cash Wallet
Membership Duties
Likewise, as a member, you are expected to:
- Pay annual dues and obligations on time
- Update your contact details
- Regularly check CFI’s website or social media for updates
Service Offerings
In exchange, it offers specific products geared towards investment, health, and loans, such as:
Investment Options
- Share Capital: Members contribute equity to the COOP’s capital fund, starting at ₱2,000 and increasing up to ₱200,000 annually, earning dividends as part-owners of the cooperative.
- Savings Deposit: A flexible, non-term deposit that earns a tax-exempt 2% annual interest, computed quarterly and available for withdrawal anytime without penalties.
- Time Deposit: A fixed-term deposit placement that earns higher interest, with specific terms and conditions agreed upon by the member and the cooperative.
Health Plan
- Mutual Medical Assistance Fund (MMAF): A member-funded health program providing up to ₱100,000 annual medical and hospitalization coverage through a fixed annual contribution, with access to nearly 50 accredited hospitals nationwide.
- Automatic Enrollment and Coverage: All members below 60 are automatically enrolled, while older members and dependent children or household workers may also be covered with corresponding premium adjustments.
- Transferable Coverage: Unused MMAF coverage can be transferred to qualified immediate and extended family members if the member is covered under another HMO or healthcare plan.
- Contribution Rates: Annual premium starts at ₱6,240 for members below 60, ₱9,240 for ages 60–69, and ₱12,240 for members above 69, payable in full or monthly.
- Claims Process: Claims require a completed CFI Claims Notification Form, original receipts, and relevant medical documents, submitted within the prescribed time and guidelines.
Loan Options
- Common Provisions
- Loan Application: Members can apply through printed or online forms, with first installment due on the 8th of the month following approval.
- Penalties and Default: Loans unpaid 30 days after the due date incur 2% monthly penalty; loans unpaid after 90 days are in default, triggering membership suspension and legal action.
- Patronage Refund: Eligible members with no defaulted loans receive an annual 8% refund based on total loan interest paid.
- Employee Loans
- Salary Loan: Loan based on net take-home pay, repayable in 12–60 monthly installments via salary or bank deduction.
- Bonus Loan: Advance loan against mid-year or 13th-month bonuses, repayable on or before May 30 or November 30 respectively.
- Benefit Loan: A ₱5,000 loan advanced against expected clothing or grocery allowances from the member’s employer.
- Judicial Special Loans: Advance loans for judiciary employees against allowances such as Economic (EAL), Grocery (GAL), Rice (RAL), and Judicial Development Fund (JDF).
- Special Individual Loans
- Deposit Loan: A back-to-back loan allowing members to borrow up to 80% of their deposits or share capital, payable in 12–60 monthly installments.
- Pension Loan: Loan for members receiving regular pensions, with payments based on pension capacity.
- Allotment Loan: Loan based on six-month average allotments received by the member from a family member working abroad.
- Personal Advantage Loan: Loan based on declared income in ITR and bank statements, with amounts depending on monthly income and installment period (12–60 months).
- Personal Advantage Loan (PAL): A personal-purpose loan up to ₱150,000, based on a member’s computed monthly installment capacity, with 12–60 months installment at 12% flat interest.
- Special Credit Facilities
- Special Credit E-Wallet: A revolving credit line accessed via virtual card, where drawn amounts are payable in 12 equal installments and repayments restore the available credit.
- CFI Credit Cash Wallet: A digital credit card-style loan facility offering a ₱10,000–₱50,000 credit line, with 24-month installment and 16% annual interest, accessible via the CFI Wallet app.
- Commercial Loans
- Business Loan: A term loan of up to 5 years to start or expand a business, with loan amount based on repayment ability, business performance, and offered collateral.
- Revolving Credit Line: A flexible business loan where paid amounts are restored to the available credit limit, with monthly billing starting on the 8th of the next month.
- Pangkabuhayan Program: A revolving loan up to ₱300,000 for business start-up or expansion, with a 1.5% monthly interest and one-year renewable term, available to members with existing salary loans.
- Microfinance Loans
- MicroCredit E-Wallet: A renewable virtual loan line for micro-enterprises, where drawdowns are payable in 12 monthly installments and repayments replenish credit availability.
- Trike Livelihood Loan Program: A loan program for tricycle purchase to be used for livelihood, repayable in up to 5 years with minimal downpayment.
Who Can Join?
If you are interested, then the first step is to become a member. To qualify for membership, you must satisfy the following requirements:
- Must be 18 years old or older
- Must be a Filipino citizen
- OFWs must be natural-born Filipinos with a residence in the Philippines
- Must be legally capable of entering into a contract
How to Apply
Membership applications for CFI can be done online. To apply online, simply these steps:
Step 1. Fill Out the Online Application Form
- Go to the official CFI website, scroll down, and click Online Membership.
- Read the instructions and prepare everything you need, then click Proceed.
- Fill out your complete personal profile and upload the required documents.
Step 2. Prepare and Upload the Following Requirements:
- A valid government-issued ID with your photo
- A signature specimen
- Proof of birth (e.g., NSO Birth Certificate or any ID with your birthdate)
- Proof of billing or government-issued ID with your address
Step 3. Take a Selfie Photo
This is required to verify your identity.
Step 4. Watch the 23-Minute Orientation Video
A seminar is provided to educate you on the values, benefits, and rules of CFI membership.
Step 5. Pay Required Fees
Upon application, you must pay:
- ₱1,500 annual membership dues
- ₱2,000 minimum share capital
Step 6. Enroll in the Health Plan
Members under 60 years old are automatically enrolled in the Mutual Medical Assistance Fund (MMAF). This costs ₱7,000 per year, payable in 12 monthly installments. Coverage starts the following June.
Video: How to Apply for Membership Online
For a visual walkthrough on how to proceed with the online membership application at CFI, you may check out this video below.
Need Help?
You may reach out to CFI via the following:
- Call Center: (032) 255-2525
- Address: Esperanza Fiel Garcia Bldg., Capitol Compound, N. Escario St., Cebu City
- Operating Hours: Monday to Saturday, 8:00AM – 5:00PM
- Official Website: https://cficoop.com/
- Facebook: https://www.facebook.com/CFICoopOfficialPage/