Why join a cooperative? Why choose the CBMPC?

As part of Operation Share Capital Campaign, during his recent US visit, METC Vice Chair Miguel Dumlao, delivered personally the share capital certificate to Gemmo Palermo of San Jacinto, California, USA, together with souvenir cap and Tshirt.

The fundamental difference between cooperatives and the traditional business models is that cooperatives are businesses which are owned by their members – not of shareholders – who have an equal say in how the cooperative is run, no matter how much capital they contribute, and who share the profit the business makes among each other. Other advantages of cooperatives are limited liability, government support, less taxation, and continuous existence.

Among several cooperatives out there, why then should you choose the CBMPC?

Sometime in 2002, the late Atty. Jesus F. Diaz, the well loved and respected former Executive Vice President of the Land Bank of the Philippines (LBP), together with other retirees of the Bank, envisioned a progressive and sustainable Cooperative of LBP retirees committed to the well-being of its members and other stakeholders. They named this, the Countryside Builders Multi-Purpose Cooperative or CBMPC.

CBMPC was registered with the Cooperative Development Authority (CDA) on March 5, 2003, under Certificate of Registration No. 623-4174, and started its actual operation on September 8, 2004.

Twenty years hence, CBMPC continues to pursue its primary business purpose to carry and engage in extending credit facilities to its members and to perform all acts and to transact all business in accordance with its Articles of Cooperation & By-Laws and under the Rules and Regulations of the CDA.

The incumbent Board of Directors and Officers led by Chairperson Rogelio G. Decal are knowledgeable, experienced and dedicated LANDBANK retirees. Currently, at the helm of its operations is General Manager Lydia de Asis, formerly the Manager of LBP’s International Trade Department.

As of December 31, 2022, CBMPC’s Total Resources stood at P106.24 million and Total Paid-up Share Capital amounted to P38.19 million. Total loans granted to CBMPC members reached P17.8 million.

Our cooperative is unique since the members are composed mostly of LBP alumni and their relatives up to the second degree and CBMPC employees who are considered as regular members. We also have members who are incumbent LBP employees, classified as associate members until their retirement or severance from LBP. As of May 31, 2023, membership has grown to 746 of which, 572 are regular members and 174 are associate members.

OPLAN SHARE CAPITAL. This operational plan which was approved by the CBMPC Board is being undertaken primarily through the Membership, Education & Training Committee. It seeks to increase the Paid-Up Share Capital based on the members’ Subscribed Capital. A bigger ratio of Capital over Liabilities can expand opportunities for new products and services and provide attractive incentives for the good of the general membership, as well as community outreach programs.

Continuous campaign for this activity includes membership recruitment with incentives for sponsoring members, conduct of Talakayan roadshows, and dissemination of our newsletter SHARE/leaflets/handouts on CBMPC operations, services, etc. Timely updating of members’ accounts likewise inspires them to invest in CBMPC their idle funds or savings.

We also encourage members who have yet to fully pay up the minimum share capital of P 50,000 to please do so as this will also mean additional products and services to avail.

We welcome all to join CBMPC: LANDBANK alumni as well as their relatives up to the second degree, LBP present employees, CBMPC staff and regular employees of LBP subsidiaries! All you need is an initial capital investment of P5,000 and one-time payment of P500 membership fee upon application. The balance of P45,000 may be paid within a maximum of three years.

Nevertheless, new members have also the option to pay upfront the minimum required share capital of P50,000 upon application. This way, they will be able to fully access the available loan and investment facilities and at the same time, enjoy higher interest on share capital. Moreover, an incentive or referral fee of P250 for each approved new member is given to the member referor.

For those interested to join us, application forms may be accessed thru CBMPC’s website at cbmpc. org. Come on!