Dear Members,
In behalf of the Board of Directors and Officers of our Cooperative, I would like to wish you and your family a very Merry Christmas and a Prosperous New Year!
It’s been a strong 2016 for our cooperative. It’s only our second year in operation but from Assets of P6.5M at the beginning of the year, we will be closing our books with our Assets at more than P20M!
Some of our other accomplishments this year include:
• Members’ Share Capital grew from P6.5M to P16.2M.
• We’ve doubled membership to 900+ Regular and Associate members.
• We’ve released 800+ loans amounting to almost P17M.
• Year-On-Year Asset Growth is at more than 200%.
• Net surplus (unaudited) is at close to P2M, beating our 2016 estimates.
• Faster releases of Petty Cash and Birthday Loans with the introduction of online transfer.
• We’ve released 5 Damayan Fund Claims (Thank you!).
• Partnership with HPE Wellness Philippines’ Culminating Event.
• Investment Reserve Fund is at P7M.
• Membership to the NATCCO Network (National Confederation of Cooperatives).
Our coop is growing and there’s no doubt that we will continue to grow. For those wondering, the HPE/CSC spin-merge will not have impact on our cooperative. If any, it will be an opportunity to grow as we can add CSC into our membership base (assuming the general assembly will approve).
Our cooperative is currently one of the fastest growing cooperatives in the Philippines. We’ve increased our capitalization from P1M in 2014, to P10M in 2016. And since we’ve already exceeded that again, we’ll be increasing our capitalization to P50M in 2017.
In 2016, we’ve helped hundreds of members and touched so many lives. With your continued support and patronage, I’m sure our cooperative will continue to grow and help even more employees in 2017.
Please remember that your Board of Directors and Officers are committed to help you make the most of what our cooperative can offer. Don’t hesitate to let us know. Feel free to give your suggestions.
Once again, Merry Christmas and all the best in the coming year!
Yours in the spirit of cooperation,
Val Hilario
