CBMPC Holds 19th General Assembly

The CBMPC held its blended 19th Annual General Assembly (GA) Meeting last March 26, 2025. It was attended by members via physical attendance and video conferencing at the CBMPC office, Pope Pius XII Catholic Center, U.N. Avenue, Paco Manila. The GA was presided by CBMPC Chairperson Rogelio Decal.

The GA started with the singing of the National Anthem followed by a prayer by Vice Chair Demetrio Opinion and the reciting of the Cooperative Pledge led by Vice Chair of the Membership, Education and Training Committee Miguel Dumlao. The GA was presided by CBMPC Chairperson Rogelio Decal. CBMPC Secretary Evangeline Somera declared a quorum.

The Chairperson’s message centered on the strides taken by the coop during the year that were meant on easing the financial burden of the coop members, particularly in the areas of education and health care needs thru various loan products and services, and better terms for their HMO requirements. Chair Decal also emphasized that while we focus on our services to our members, we should not lose sight that the coop exists to serve our community. In line with this, CBMPC as in previous years, prepared a Social Development Plan and Outreach Projects for the marginalized sector of our community wherein the coop’s entire Community Development Fund will be spent to reach out to this sector.

General Manager Lydia de Asis presented the major accomplishments of the coop as of end of year 2024. She reported that CBMPC realized a higher net surplus of P1.566 Million compared to the previous year’s P1.217Million. This was made possible by placing the coop’s investible funds with the banks/cooperatives that offered higher interest rate. On top of the income generated from lending operations, the buying and selling of LSERV shares of stocks , PAL ticketing and service fee collected from HMO enrollees contributed to the higher income realized. GM de Asis also informed the GA that that the additional share capital generated is P2.944 Million which is above the target of P1.348 Million. The total withdrawal of P3.264 Million was attributed to the death and debilitating illnesses of our members. With 67 additional members, total membership reached 825 of which, 671 are regular members and 154 are associate members.

Treasurer Emily Capili reported on the comparative Audited Financial Statements as of December 31, 2024 and December 31, 2023. She announced that 80% of Net Surplus (after deducting the 20% Statutory Funds ) has been allocated for distribution, as follows: 65% for Interest on Share Capital with a Return on Investment (ROI) of 2.16%, 30% for Patronage Refund (for Loans) with an ROI of 0.92%, and 5% for Patronage Incentive with an ROI of 0.61% (for HMO) and 0.13% (for Deposits and Bonds), for a total ROI of 3.83%.

This was then followed by the presentation of the Accomplishment Reports of each of the committees by their respective committee heads/ representatives.

All the aforecited reports were accepted by the GA upon motion.

Likewise, the 2025 Development Plan, Targets, Social Development Plan and GAD Plans and Programs as presented by Chair Decal, GM de Asis and GAD Committee Secretary Sonia Cruz, respectively were approved by the GA. Moreover, the GA ratified the hiring of the CDA-accredited External Auditor and the the Board resolutions for the Year 2024 and 1st two months of 2025.

These activities were interspersed with raffling of cash prizes and umbrellas to members physically present and on line.

There was no election held for the three vacant positions in the CBMPC Board of Directors as there were only three candidates. Thus, they were all declared winners, namely: Lamelita Aquino, Leticia Lourdes Camara and Edgar Frederick Generoso. Likewise, there were no candidates for the members of the Audit and Election Committees. The GA then authorized the Board to appoint the members of the said committees at the organization meeting to be held on April 3, 2025.