For the past years, cooperative development in Bataan has reached greater heights with the support of the provincial government through the leadership of Governor Enrique Garcia and the Sangguniang Panlalawigan. Cooperative development in the province has been vigorously been pushed to strengthen local economy. The provincial government of Bataan has been pouring massive support to cooperatives here to speed up local economy.
One of the fastest growing cooperatives in the province is the Capitol Employees of Bataan Multi-Purpose Cooperative or CEmBa MPC. In 5 years, the cooperative enjoyed unprecedented growth and positively changed the lives of its members. And just recently, the cooperative held its 5th General Assembly at the Bulwagan ng Bayan capitol compound in Balanga City on April 1, 2011.
The Guest Speaker, Mr. Bustamante, Manager of BNHS MPC and Chairman of the Bataan Cooperative Bank, gave a warm and inspiring message on the stability and resilience of cooperatives in times of crises and the significant role CEmBa MPC plays in the lives of capitol employees but and its impact to the cooperative movement in the province.
Chairman Zena Sugatain discussed the program mechanics and launched the newest & 7th loan window the “GROCERY LOAN” to be availed thru loan coupons up to P2,000, 5% interest, payable in 1 month.
The General Assembly was attended by 272 members who were very happy & satisfied on the business operations of the cooperative as the annual reports were presented as follows:
Five years have passed and CEmBa Multipurpose Cooperative still stands strong and more equipped to serve. It is said that people make history, and the history of CEmBa MPC is no different. The five years of CEmBa MPC existence have been made productive and successful because of the officers, management staff and its members. Hearts are warmed with individual stories of how CEmBa improved the quality of lives of its members. Testimonies on how the cooperative benefited the members, how CEmBa’s loan services came to the rescue in times of needs, how belt tightening resulted to increase in capital, how hard earned money infused resulted to Capital Build-up, how loans are paid promptly so as not to be delinquent and keep others in the queue, this made CEmBa part of every member’s dream!
For fiscal year 2010, CEmBa has remained safe and sound in spite of the global economic crisis. In the environment, being good is not enough, thus the Board of Directors, in partnership with the Management, have carefully kept the trust , exerted best efforts and worked hard to create sustainable growth and offer excellent services.
CEmBa MPC accomplished the following as of the report period:
1.Crafting of the 3-year development plan for 2010 -2013;
2.Policy Review and Amendment of By Laws in conformity with RA 9520;
3.Orientation on IRR of RA 9520 for Directors and Management staff;
4.Approval of Three Million credit line with LandBank, a standby fund in case of emergency;
5.Conduct of CEmBa Roadshow program & massive dissemination of CemBa program and services;
6.Filing of Estafa case against former Manager Jacquiline Reyes for the unturned over P240,000.00 during the Fiscal year 2008.
7.Upgrading of salaries of CEmBa employees;
8.Secure Tax Exemption Certificate from BIR, for CEmBa to be tax exempt on income tax;
9.Buying out shares of cancelled/dissolved cooperatives with Bataan Cooperative Bank up to Two Hundred Thousand Pesos shares at 50% discount;
10.Holding of CEmBa Christmas Party at Lou-is Restaurant and giving away Noche Buena package to all members.
The cooperative registered a remarkable increase of 69% in assets size compared to the previous year from P4,162,031.78 to P7,021,692.30, P 3Million richer from last year. Meaning, the members are the owners of a P 7Million business! It still holds the title of the Fastest Growing Employees cooperative in the province. Because the MEMBERS are OWNERS, excess payment on goods bought and services availed are not construed as profits but are returned to the members through DIVIDENDS and PATRONAGE REFUND. Now it can be told that one has reasons to be happy with CEmBa? These very benefits dramatize the slogan “SA CEMBA PRODUCTIVE KA!”
This year the cooperative had a full grasp of Republic Act 9520 (Philippine Cooperative Code of 2008). Though regulatory requirements become stiffer, it’s time to shape up and be internationally competitive! There are 14 trainings directors, committees and officers must undergo to comply with the regulatory requirement. To those elected officers, they are to sign a commitment form to undergo necessary trainings. These trainings will be of great help to the cooperative.
The Credit Committee takes pride to present a clear evidence of how members have internalized the vision and mission of the cooperative and were served through the volume of loans totalling to P 8,105,773.69 which were carefully evaluated and approved by the Credit Committee for the Fiscal Year 2010 as follows:
Salary Loan MPL 20% | Php 6,497,000.00 |
Salary Loan 18% | 603,000.00 |
Quick Cash Loan (regular & job order) | 484,400.00 |
Appliance Loan 20% | 91,373.69 |
Business Loan 18% | 370,000.00 |
Rice Productivity Loan 18% | 60,000.00 |
TOTAL | Php 8,105,773.69 |
The volume of loans for FY 2010 released is 162% higher than that of FY 2009 of P3,093,000.00. New Loan Windows were opened in FY 2010, making into a total of 6 Loan windows available for all the members of the cooperative. Likewise, the Quick Cash and Salary Loans for associate members (JOB ORDER EMPLOYEE OF PGB) were also amended to suit the growing demands of members and present circumstances giving birth to Back to Back loans granting as much as P10,000.00 payable in six (6) months through salary deductions. All loan policies were duly approved by the Board of Directors and were implemented in FY 2010.
The cooperative thank and praise the Lord Almighty for the year that was. Despite of the many challenges and threats that came (specially the massive collection of BIR to cooperative and the New Cooperative Code particularly known as RA9520) CEmBa MPC is still growing not just in terms of membership but as a whole.
A. Financial Highlights
Yr Ended | 2010 | 2009 | Inc/Dec | % |
Gross Surplus | 2,056,664 | 1,663,300 | 1.24 | 24% |
Total Op. Exp. | 1,143,001 | 789,578 | 1.45 | 45% |
Net Surplus | 921,162 | 888,055 | 1.04 | 4% |
At Year Ended (In Pesos)
Yr Ended | 2010 | 2009 | Inc/ Dec | % |
Total Assets | 7,021,692.29 | 4,162,031.78 | 1.69 | 69% |
L/R | 5,615,725.42 | 2,866,478.69 | 1.96 | 96% |
Paid-Up | 2,666,390.91 | 1,797,663.28 | 1.48 | 48% |
ISC Payable | 386,888.43 | 372,983.28 | 1.04 | 4% |
PR Payable | 257,925.62 | 248,655.52 | 1.04 | 4% |
B. Non Financial Highlights
| 2010 | 2009 | Inc/Dec | % |
Total no. of members | 341 | 245 | 1.39 | 39% |
The Treasurer of Capitol Employees of Bataan MPC is tasked to protect the ‘MONEY MATTERS” of the Cooperative. Aside from lending, CEMBA also accepts savings and time deposits from its members. As of Dec. 31, 2010 savings deposits of members amounted to P 293,104.51 and time deposits amounting to P 624,520.55. CEMBA is also maintaining its checking account with Landbank Balanga and savings account with Bataan Cooperative Bank with the following balances as of December 31, 2010:
LBP—Balanga | Php 186,429.92 |
Bat. Coop Bank | 55,466.41 |
TOTAL | Php 241,896.33 |
As CEMBA continue to progress, many employees of Bataan Capitol are willing to subscribe and register as members of CEMBA. This year there are 341 members of CEMBA as of Dec. 31, 2010 and last year there are only about 245 members, a 39% increase from last year.
As of Dec. 31, 2010 CEMBA has 5,513 subscribed capital shares which is much higher than its authorized share capital of 5,064. The subscribed capital share and paid up capital share are as follows:
S.S.C.@ 500 par value | 5,513 | Php 2,756,500.00 |
Paid up Share Capital | 5,332 | 2,666,391.21 |
In the area of performance evaluation, the Audit Committee plays an important role. One of the duties of the Audit Com is to point out to the Board of Directors, Officers and members how the cooperative’s operation were handled based on performance standards. Likewise, the employees’ cooperative hired the services of an independent CPA to audit its operations for FY 2010. The BOD adopted the COOP PESOS to measure its financial performance. For FY 2010, the cooperative has an over all rating of 71%.
Observation & Recommendations:
1. Membership Expansion-the present no. of members is only 34% of the total employees of BPG. The Board should strive to increase its membership but should be thoroughly screened to ensure that they would become assets instead of becoming liabilities;
2. Capital Expansion-The Board and Management should review members’ subscription to determine those who have not yet fully paid their subscriptions. To maximize benefits, members should be encouraged to have additional subscription.
3. Increase in Patronage-members should patronize the services of the coop.
The Body also unanimously approved the P1.2M budget to finance the operations of the cooperative for the year 2011. Election of Officers
Newly elected officers, namely: Board of Directors: Evangeline Calma, Godofredo De Guzman, and Imelda Inieto; Audit Committee: Rosalie Pantig, Nora Siasat, and Melchor Cui;
Election Committee: Briccio Rubiano, Guillermo Coronel, and Ariel Masamoc; and Credit Committee: Bienvenido Paguio Jr., Zenaida Ramos and Dorina Coronel were presented to the Body. In an interview with them, they said “it is our honor to serve the members of CEmBa MPC. There maybe challenges in the performance of our duties, but with the strong cooperative spirit , we will have the necessary resolve to conquer whatever we face in the future!”
Towards the end, A total of P644,814 dividends and patronage funds were distributed to members
In the lighter part of the general assembly, Bingo Socials grand winner Josephine Estrella went home with P5,000.00 in the. Other consolation prices like rice and cash were also given.
The CEmBa MPC has gone a long way since its establishment 5 years ago. The cooperative success story highlights the value of employees’ empowerment thru cooperativism.
With the continuous support and trust of the members and the institution under the administration of Gov. Enrique T. Garcia, Jr., the cooperative will continue to protect its integrity and credibility and will remain faithful and steadfast in the journey towards the attainment of its vision and mission. As CEmBa MPC move forward, re commitment to the vision is relevant and thank God for His faithfulness and guidance. TO GOD BE THE GLORY!!! More power and Mabuhay to CEmBa MPC!!!
*contact us in (047) 237-4040 / (047) 237-4726 or e-mail us in pcdo@bataan.gov.ph and visit and like our Facebook page "PCDO Bataan (PGB)"
