CDA Confers Gawad Parangal on CBMPC for Community Service

As part of the Cooperative Month celebration in October 2020, the CBMPC was one of those conferred with the Gawad Parangal 2020 by the Cooperative Development Authority (CDA) – NCR Office. This award, in the form of a “Sertipiko ng Pagkilala”, is in recognition of the invaluable contribution of the CBMPC in the field of community service during this pandemic. This particularly refers to the coop’s P100,000 donation to the Philippine General Hospital in May 2020 to help in the procurement of the needed personal protective equipment for the health workers.

It is worthy to mention that CBMPC has been involved in other community services, namely: cash donation totaling P30,000 to the Typhoon Ulysses victims composed of LBP Albay retirees and an employee of the coop; Feeding Program to 50 street children in Bgy. 699, Malate, Manila; and as one of the participants for four years in the annual Manila Bay Clean-up Program initiated by LANDBANK.

Moreover, CBMPC gave a one-time donation of P 50,000 to the University of Santo Tomas College of Commerce Alumni Foundation, Inc. (UST COCAFI) Fund with a request that students residing in Manila; or children or grandchildren of LANDBANK retirees who meet the UST COCAFI criteria for scholarship be given preference. Should there be no qualified students as preferred by CBMPC, UST COCAFI shall grant the same based on the criteria of prioritization.

The funds allotted for the aforementioned community involvement were charged to the coop’s Community Development Fund (CDF). The coops are strongly encouraged by CDA to utilize their CDF for projects or activities that will benefit the community where the cooperative operates. As provided under Article 86 (3) of R.A. 9520re: Philippine Cooperative Code of 2008 and Revised Implementing Rules and Regulations, the CDF shall not be less than 3% of their Net Surplus.