Profile of Baao Parish Multi Purpose Cooperative

Profile of Baao Parish Multi Purpose Cooperative from Baao Parish Multi Purpose Cooperative

By: Baao Parish Multi Purpose Cooperative  01/21/2009
Keywords: loan, Lending, Savings Deposits

The Baao Parish Multi-Purpose Cooperative (BPMPCO) was first registered as Baao Parish Cooperative Credit Union, Inc (BPCCUI) in 1963 with an initial paid up capital of P 1,193.00 and 50 members. The word "Parish" refers to the Parishioners, particularly the “Hijas de Maria”, a group of religious women, who through the help of the Baao Parish Council was able to make the co-op operational. In 1991, after the passage of RA 6938, the cooperative was conferred a confirmation of registration by the Cooperative Development Authority (CDA) on March 25, 1991, with the name, Baao Parish Multi-Purpose Cooperative. After 43 years, the cooperative has an accumulated total asset of P55M, 4,222 members, share capital of P 9.3 M and last year, the coop was able to release loan in the amount of P 49M. The coop has a total employee of 18 office staff and two security guards. It was in the year 1996 that the coop was able to construct its two - storey cooperative building in San Nicolas, Baao, Camarines Sur. The office is well equipped with generator and air conditioners. The coop has a training hall which serves as venue for coop trainings. The lending expertise that the coop gained was a product of determined leadership and adherence to coop principles with strong emphasis on cooperative education and quality service to members. The coop gives high value on continuous cooperative education as major element of coop success. The officers and staff are skilled and trained for they regularly attend trainings, seminars and assemblies. They regularly conducts ownership seminars, which aims not only to update the members with the new policies but also serves as a consultative forum for members to give suggestions and recommendations on how to improve the coop. Apart from the BOD meetings held twice a month, the officers and staff meets every quarter to discuss and evaluate the coop operation. They also hold annual planning to synchronize its efforts in determining long and short term plans. The coop’s transaction is 75 % computerized. The savings and time deposit transactions, and the accounting are all computer generated. The Loan system is able to facilitate easy access of member’s information. The cooperative is giving incentives to prompt payors, and also provides life and loan insurances members. At present, the coop is able to release loans within 30 minutes after the loan was filed to class A/AA/AAA members The coop is a gender friendly coop, about 74% of its membership are female. As to occupation, 43% of the regular members are self-employed, 7% are government employees, 7% are agri-workers and 7% are private employees. Among the Coop Programs are Damayang Pangkalusugan, Coop Life Program, Coop Youth Exposure Program and the Coop College Assistance Program. Among the economic services being offered by the coop are Savings , Time Deposit and Koop Alkansya. Among the loan packages are, Salary Loans, Livelihood, Commercial/Industrial, Livestock/Agricultural and Provident Loans. Among the important social program that the coop is presently implemented by the coop is the Damayang Pangkalusugan which is a socialized health program which provides free consultation and hospital assistance to coop members. The coop also provides assistance to the family of deceased coop member. Apart from the health programs, the coop also implements a youth program which includes the Coop College Assistance Program (CCAP) to deserving children of a member in good standing, Coop Youth Exposure Program (CYEP) which provides work exposure to out of school youth. For the past eight years, the coop also co-sponsors the Coop Youth Awareness Program through youth leadership trainings and youth contests. For the past years, the coop also conducts tree planting activities and distributes seedlings to coop members as part of the coop environmental projects. The coop’s BOD are composed of Public School Heads with MA in Education and one retired DILG Officer. The Audit Committees are composed of three (3) accounting graduates, of which one is a CPA. The coop management team is composed of the General Manager who is a graduate of Master in Business Administration. The Assistant GM is a BSC Marketing graduate, and Operations Officer is a BSC Accounting graduate. The rank and file are composed of 56% accounting graduates, 4% are Computer Science graduates, 19% are with Banking, Management and AB Economics graduates. The coop’s leadership role modeling, membership classification and massive education program are the key to coop’s success.

Keywords: Business Development Center, capacity based lending, Lending, loan, Savings Deposits, Time Deposits,

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