Keystone Credit Cooperative
Lending management
Keystone runs the cooperative's lending book: applications, approvals, releases, amortisation, collections, penalties and statements. The arithmetic is decimal throughout, so a loan closes at exactly zero.
An application is encoded, approved, and released; the release opens the account and writes the amortisation schedule against the actual release date. Flat, diminishing, equal-principal, equal-amortisation and interest-only are all supported, monthly through to twice a month on the 15th and the month-end.
A receipt settles the oldest unpaid instalment first — interest, then principal, then fees, then penalties. A partial payment never closes an instalment, and an overpayment is held on the receipt rather than invented into a balance.
One percent a day on what is still unpaid, after a grace period, capped where the loan type says so. The meter stops the moment the instalment is settled, and penalties never compound.
Placements, earnings and payout schedules for the members whose capital funds the book. Earnings are simple, not compounding, and the schedule returns the deposit to exactly zero.
A statement of account regenerates on demand from the schedule and the receipts, so it can be reprinted at any time without side effects. Receivables age by instalment across six buckets that sum to what is genuinely still owed — not by filing a whole loan under its worst month.
Money is held as decimal strings and computed with bcmath. A float cannot represent ten centavos exactly, and the drift is what leaves a loan a centavo short of closing.
The dashboard, the statement, the calendar and the reports all read the same computation. There is no second implementation to drift out of step.
Thirty-two thousand assertions run against schedules generated by an independent implementation, plus the whole live book, before anything ships.
Robredo Street, Barangay Zone III, City of Koronadal, South Cotabato. Staff sign in above; members should contact the office for account enquiries.