CBMPC Representatives Attend Annual General Assemblies

The CBMPC Board authorized some of the coop directors/officers/committee members/staff to attend the Annual General Assemblies of Manila Federation of Cooperatives, One Cooperative Bank and National Cooperative Marketing Federation held on various dates.

Manila Federation of Cooperatives (FOCOS)

The 11th General Assembly (GA) of FOCOS was held on April 23, 2024 at Swiss-Belhotel Blulane located at Tomas Mapua St. Sta. Cruz, Manila. CBMPC was represented by GM Lydia de Asis and Cashier Eden Daus in said event.

Discussed during the GA is the plan of FOCOS to grant Business Loan to its cooperative members with an initial amount of P48,000.00. Relative to this, the member-cooperatives are being requested to fully pay the minimum share capital requirement of P40,000.00 to be able to start said Business Loan. To date, CBMPC’s paid-up share capital in Manila Federation is P10,000.00. As of December 31,2023, the federation reflected Total Assets of P833,985.26 and Net Loss of P312,890.31.

Election of the new sets of Board of Directors, Election Committee and Audit Committee was one of the highlights of the GA wherein Engr. Roland Viray has been reelected as Chairperson.

One Cooperative Bank (CB)

Board Secretary Evangeline Somera represented CBMPC in the GA of One CB held via zoom on April 27, 2024. This GA was attended by various affiliated primary coops. Fr. Anton Pascual, the Bank’s Chairperson, shared some insights on how the cooperatives in other countries developed and continue to progress. Their main strength is the continuous capital build-up, strong leaders, continuous education and training of their members and being involved in multiple businesses.

National Cooperative Marketing Federation (NCMF)

On May 8, 2024, Director Noemi dela Paz represented CBMPC in the 14th Annual GA of NCMF at Luxent Hotel, Timog Avenue, Quezon City. With the Theme: Strengthen Collaboration through Innovations and Partnerships, Chairperson Raul Montemayor led the awarding of Certificate of Membership to 20 new member-coops, bringing to 72 the coop members of the federation as of end of 2023. NCMF likewise recognized the Top 5 members under their respective categories. Topping the lists are: Barangka Credit Coop under the With Highest Capital Share and Contribution Category (P6.57M) and Lingkod Simbahan MPC under the With Highest Patronage Member- Cooperatives. Ten percent of the NCMF members are farmer groups supplying rice and other products to consumer cooperatives in and around the National Capital Region.

As of December 31, 2023, NCMF’s Total Assets of P88.59M decreased by P30.27M or 25% from P118.86M as of yearend 2022 due to the return to the primary coops of their short-term investments placed in NCMF @ 8% interest p.a. which were not utilized. Moreover, Net Surplus in 2023 of P3.88M was lower by P2.15M or 36% compared to 2022 caused by the decline in volume of rice ordered by its clients.

Asst. Secretary Pendatun Disimban of the Cooperative Development Authority and Director Junibert De Sagun of the Department of Agriculture were the Keynote Speakers.