CBMPC Holds 16th GA and Election

After the cancellation in the years 2020 and 2021 due to the COVID-19 pandemic, CBMPC finally conducted on August 27, 2022 its 16th Annual Regular General Assembly Meeting (ARGAM) and Election of the Board of Directors, Election Committee and Audit Committee. The holding of said activities which is a combination of face-to-face or physical mass gathering and via zoom video conferencing, is in accordance with the Cooperative Development Authority Memorandum Circular No. 2022-01, Series of 2022 re: Regulatory Relief in the Conduct of ARGAM for the Calendar Year 2022 Due to the COVID – 19 Pandemic.

CBMPC Chairperson Rogelio G. Decal, in his message, extended to the members his warm cooperative greetings coupled with an assurance that we have adequately addressed the challenges brought about by the pandemic and that we shall pursue every opportunity to strengthen our organization. He summarized the initiatives done by the cooperative to rise above the situation and look for ways to safeguard the health and welfare of the CBMPC employees as well as meet the needs of our members.

Chair Decal gladly announced that as of year-end 2021, CBMPC exceeded the Total Assets target of P100.00M thereby being elevated to the elite group of Centennial Cooperatives in Metro Manila. He explained that this was made possible through the active participation of the members in the capital build-up program, increase in deposits and investment in the CBMPC bond. The coop’s challenge though is how to convert these funds to more loans such that the CBMPC’s excess liquidity are invested in higher yielding financial instruments.

The other initiatives were likewise enumerated geared towards improving the financial status of our members, increasing the coop’s loan portfolio, observing the principle of cooperation among cooperatives and providing our members a rate of return higher than the inflation rate. Chair Decal encouraged all the members to look ahead to a brighter future with a positive frame of mind and guided by CBMPC’s core values of: S-tewardship, H-onesty, A-daptability, R-esourcefulness and E-xcellence.

One of the highlights of the General Assembly (GA) was the approval of the proposed amendments to the election rules and procedures, as presented by the Election Committee Chairperson Antoniette Sarausa and their adoption/implementation during the same day’s election. The proposed amendments to the CBMPC’s Articles of Cooperation and By-Laws presented by Chairperson Estela Correa of the Membership, Education and Training Committee likewise got the GA’s approval (with a separate article in this issue). Various reports/items in the Business Meeting Agenda as presented by Chair Decal, CBMPC officers and the chairpersons of the different committees were approved and/or accepted by the GA.

The election of the new set of Board of Directors, Election Committee and Audit Committee followed (Please refer to the separate article in this issue for the details). Raffle prizes were given to the lucky member-attendees, both in face-to-face gathering and virtually.