MAGCOOP MULTIPURPOSE COOPERATIVE

LENDING PRIVACY NOTICE

Effective Date: January 1, 2026

This Lending Privacy Notice explains how MagCoop Multipurpose Cooperative (“MagCoop”, “we”, “our”, or “us”) collects, processes, and protects personal information in relation to loan applications and lending services provided to members.

This notice supplements the MagCoop Data Privacy Policy and applies specifically to loan applications, loan accounts, and repayment transactions.

MagCoop processes personal data in accordance with the Data Privacy Act of 2012 (Republic Act No. 10173) and the rules and regulations issued by the National Privacy Commission (NPC).

1. Personal Information Used for Lending Services

MagCoop may process personal and financial information necessary to evaluate loan applications and administer lending services.

Much of this information is already collected during the MagCoop membership application process. Members applying for loans may only need to confirm or update existing records.

1.1 Membership and Identification Information

• Full name
• Date of birth
• Sex
• Residential address
• Email address
• Contact numbers
• Membership identification numbers

1.2 Financial and Loan Information

• Loan application details
• Employment or income information
• Loan approval records
• Loan amounts and repayment schedules
• Payment history
• Loan account transaction records

2. Purpose of Processing

MagCoop processes personal information for the following purposes:

• Evaluating loan eligibility
• Assessing repayment capacity and creditworthiness
• Approving and administering loan accounts
• Generating repayment schedules and loan statements
• Processing loan repayments and financial transactions
• Sending loan-related notifications and reminders
• Preventing fraud and protecting cooperative assets
• Complying with legal and regulatory obligations

3. Automated Processing

MagCoop may use automated systems to assist in evaluating loan applications and assessing credit risk.

These systems may analyze financial records, repayment history, and other relevant information to support lending decisions.

Final loan approvals remain subject to MagCoop’s internal lending policies and review procedures.

4. Disclosure of Personal Information

MagCoop may disclose limited personal information when necessary to provide lending services or comply with legal obligations.

4.1 Payment Service Providers

MagCoop may share limited information with authorized payment processors that facilitate electronic loan repayments.

4.2 Technology and Infrastructure Providers

MagCoop may engage technology vendors to support digital platforms, system infrastructure, and payment processing services.

4.3 Government and Regulatory Authorities

MagCoop may disclose information when required by law, court order, or regulatory requirement.

MagCoop does not sell or rent personal data to third parties.

5. Digital Payment and Financial Service Integration

MagCoop may integrate with third-party financial service providers to facilitate loan disbursement and repayment processing.

• Payment gateway providers
• Electronic wallet operators
• Banks or financial institutions
• Payroll or remittance service providers

6. Loan Repayment Processing

Loan repayments may be processed through authorized payment channels such as:

• Bank transfers
• Debit or credit cards
• Electronic wallets
• Digital payment gateways
• Payroll-linked payment arrangements

7. Data Retention

Loan application records, repayment history, and financial documentation may be retained for the period required by cooperative regulations, accounting standards, and applicable laws.

8. Lending Authority

MagCoop Multipurpose Cooperative is duly registered with the Cooperative Development Authority (CDA) and authorized to provide lending services to its members pursuant to Republic Act No. 9520 and applicable CDA regulations.

Documentation relating to MagCoop’s lending authority may be viewed here:
www.magcoop.com/lending-license

9. Rights of Data Subjects

• Right to access personal information
• Right to request correction of inaccurate data
• Right to request information on how personal data is processed
• Right to lodge a complaint with the National Privacy Commission

10. Contact Information

MagCoop Multipurpose Cooperative
MAGCOOP Building, 473 United Nations Ave, Ermita
Manila, 1000 Metro Manila

Email: magcoopit@magcoop.com
Website: https://www.magcoop.com