Monday, April 21, 2008

SMDS Multipurpose Cooperative Logo


2008 Planning Session







Directors, Officers, Staff, Collectors and Area Coordinators in a Planning Session, Feb. 2008

Misyon at Pananaw

MISYON :

Isang pamayanang (Kristiyano) na pinagbuklod ng pagmamahalan, tinutulungan ang isa’t isa sa pamamagitan ng mga proyektong pangkabuhayan ayon sa pamamaraang kooperatiba. Nangangako ang Kooperatiba na lilikom at gagamitin ang yaman ng pamayanan upang pag-ibayuhin ang antas ng kabuhayan ng kanyang mga kasapi.
PANANAW:
Tayo, bilang matatag at maunlad na SMDS Kooperatiba, ay maipagmamalaki ang serbisyo at benepisyo sa limanlibong kasapi/ kabahagi na nagsasabuhay ng mga prinsipyong maka-Diyos at maka-Pilipino na nagsisilbing pwersa ng pagbabago sa pamayanan.

"Kabalikat": The Coop Newsletter





Who are we?

INTRODUCTION

SMDS Multi-Purpose Cooperative (SMDS Coop for short) is essentially a credit coop covering the Barangays of Loyola and Pansol, Quezon City. SMDS stands for Sta. Maria della Strada, the parish which initially covered both Barangays. The Cooperative focuses on the low income areas of Park 7, Marytown and Daan Tubo in Barangay Loyola; Pansol Proper, Kaingin 1 and Kaingin 2 in Barangay Pansol. The Cooperative was organized initially by 15 cooperators contributing P2,000.00 each. They included the then parish priest, Msgr. Patricio H. Lim, prominent parishioners like Vicente Jayme, Floy Aguenza, Ben Casino, Primitiva Nisperos, Norberto Fortaleza and Norberto Nazareno and the staff members of the parish at that point of time. The Cooperative was registered with the Cooperative Development Authority (CDA) on May 3, 1996 under Republic Act 6938, otherwise known as the new Cooperative Code of the Philippines.

While the cooperative is licensed as a multi-purpose, the board of directors felt it best to concentrate as a credit coop to avoid competing with the businesses of its members. It thus has served as an effective micro finance activity that has helped many members from the low income areas of the community.

It is now owned by more than 3,500 regular and associate members mostly from the low income areas mentioned above. The Cooperative undertakes socio-economic programs to extend micro-finance especially for livelihood self-help endeavors, extricates members from unconscionable usurious practices of 5-6 operators, mobilizes savings, and tries to generally improve its members’ way of life.

The SMDS Coop is located along Katipunan Avenue (C-5) corner Pansol Road, inside the premises of Sta. Maria della Strada Parish. Telephone #s are 434-0330 and 435-9488. General Manager is Mr. Dante Molabola. After 12 years of successful operations, growing from a total asset of just P30,000.00 to P44 Million, (refer to attached financial performance) the SMDS Coop is open to share its experience and expertise with others who would like to start community based micro finance coops catering to low income areas.

Board of Directors / Board of Advisers 2008

Board of Directors for 2008

NORBERTO NAZARENO Chairman
LYDIA FLORES Vice-Chairman/ Director PP
MA. FLORDELIS AGUENZA President
FRANCISCO JOSEF Director Treasurer
RAFAEL GOSECO Director Cooperative Secretary
TERESITA QUIÑONES Director K1
TAURINO FRAYNA Director K2
RICARDO DE LARA Director P7
HAYDEE GLODO Director MT
APOLONIA CONTRATA Director DT
FR. MANNY SAREZ Director
BEN CASINO Auditor

Board of Advisers for 2008

VICENTE JAYME
PRIMITIVA NISPEROS
FR. JOSE TUPINO III

Mensahe mula sa Taga Pangulo

Mensahe Mula sa Taga-Pangulo
Marso 2008

Nagbalik tanaw kami noon ika-16 ng Pebuero, kung saan, tinalakay namin muli and misyon at bisyon ng ating kooperatiba sa tulong na ating kasapi, Ms. Lotlot Ortiz-Luis.

Binalikan namin saglit ang nakaraan nating 12 taon, noong tayo ay nag-umpisang mag koopereyt, mag sama-sama, mag-tatag ng isang kooperatiba. Ngayong mayroon tayong isang samahan na ating pinakikinabangan. Bagkus mayroon tayong dinaraanang mga problema, mas marami naman ang pakinabang at nakinabang. Ang sabi sa Ingles: “It is hard to argue against success”. Mahirap makipagtalo sa tagumpay.

Ang samahan natin ay nagbigay buhay na ngayon ay mayroon kayang buhay. Sabi ng pamagat ng isang alkat, “Beyond Survival” ang ating kooperatiba ay magkakaroon ng mas mahabang buhay kaysa sa atin lahat na maipamamana natin sa ating mga anak, mga apo, anak ng ating apo.

Sa akin paniwala, ang ating tagumpay ay unang una sa lahat dahil sa pahintulot at kagustuhan ng ating Panginoon. Salamat sa Diyos! Ang pangalawa ay dahil sa 4 na mga sumusunod:

1. Mahusay na paghuhubog ng patakaran ng ating mga direktor.
(proper governance),

2. Dahil sa isang systema ng ating pagpapatakbo, isang operasiyon ng
nagbibigay disciplina,

3. Mahusay na organisasyon na pinamumunuan ni Dante Molabola na
kasama tayong lahat sa isang tinatawag nating “team” na mayroon
“team work”,

4. Dahil sa pagtangkilik ng ating mga kasapi.

Alam natin na ang ating samahan ay naiiba sapagka’t tayo ang sarili nating kapitalista, tayo ang tumatangkilik sa ating kooperatiba, tayo ang nag bibigay ng kita, tayo ang nakikinabang sa atin serbisyo at tayo rin ang nakikinabang sa ating kinikita. Alam nating lahat na ang salapi na ating pina-iikot ikot at mula rin sa atin.

Sa ibang samahan, ang pangkaraniwan ay: Iba ang kapitalista, tayo ang tumatangkilik at dahil dito, tayo ang nagbibigay ng kita. Para nga sa atin ang serbisyo subalit nagpupunta naman sa iba ang kita.

Ang tagumpay nating nakaraan ay maaaring pa natin paghusayan sa temang: “Isang maayos na serbisyo at ‘accountable’ na pamamalakad.” “Accountable” sa pagkukuwenta na hindi nakakauwi ang “staff” hangang hindi balansiyado ang libro. “Accountable” sa “proper governance” (maayos na pamamalakad) na kung saan, ang mga direktor na hindi nag-iisip at gumagawa ng bagay para sa kanilang pang sariling kapakanan, kundi para sa kapakanang at kabutihan ang mas nakararaming mga kasapi. Alam natin, sa ano mang samahan, hindi lahat ay maaaring sumangayon. Ang kapakanan ng nakararami ay ang tukoy ng maayos na pamamalakad, (proper governance).

Tayo ay isa sa mga solusyon na hinahanap ng pamahalaan at ng mga dalubhasa sa pagunlad ng ating kababayan at ng ating ekonomiya. Kaya tayo ay patuloy na maging matatag na isang “micro finance” na mayroon kaibahan na nabangit ko nga kanina, isang matagumpay na “micro finance” na ari-arian natin lahat, mga kasapi na siyang rin nakikinabang hindi lang sa pangungutang kundi sa kita ng pinaguutangan, ang ating ‘SMDS Multipurpose Cooperative’. Mabuhay tayong lahat !

Membership and Types of

MEMBERSHIP


Who can be a Member ?

Any individual of legal age, association, corporation, cooperative, civic or unincorporated organization/ institution that is residing, doing business or working in the areas of Barangay Pansol and/or Loyola Heights of Quezon City for at least 3 consecutive years can be Regular Members.

Individual members should be at least 18 years old but not more than 65 years old. They can include spouses and their children in their individual capacities.

Others from outside these geographical areas can be accepted on case to case basis, within the rules of the Cooperative Development Authority, (CDA), subject to the approval of the board. Transactions of these members, however, unless specifically approved by the Board, will be limited only to depository and capital accounts.

Minors can be Associate Members provided one of their parents is a Regular Member. The Coop encourages minors to open depository accounts to give them the opportunity to save through a formal institution.

Types of Membership

1) Regular Members – are applicants who have completed the required Coop Orientation Seminar, have paid up the minimum required capital share as to be determined from time to time, and have been confirmed by the Board. The present minimum share capital amounts to P2,500 stocks, as approved by the Board of Directors. This amount, in turn, is composed of 25 units of P100.00 per unit.

2) Associate Members – are those who have not fully paid the required minimum paid up share capital or those maintaining only depository and savings account. Minors are classified as Junior Savers, under the category of Associate Members.

3) Associate Members can upgrade to become Regular Members upon completion of the required Coop Orientation Seminar and payment of the minimum required share capital and/or the attainment of legal age of 18.

4) Note: Special installment programs can be developed by the Coop to help applicants pay up the minimum required share capital over an acceptable period of time.

Members Benefits and Programs

Members Benefits and Programs

SMDS Cooperative presently offers the following benefits and programs to its Regular Members:

1) Borrowing Facilities: Up to two times (2X) of share capital and participating deposits/investments kept under “hold-out” plus the signature of an acceptable co-maker from among the regular members to partly secure the loan under the loan programs established by the Board from time to time which cover at least interest rate, maximum ceiling, maximum term and additional securities. Loanable amount can also be a multiple of up to 4X depending on the purpose and credit worthiness of the borrower.

2) Interests on Share Capital – are paid to Regular Coop Members depending on the performance of the SMDS Coop. For the records, SMDS Coop has paid at least 20% interest on share capital since 1999.

3) Free Group Life Insurance Coverage of P 25,000 or P50,000, depending on the selected share capital program. Members with P 2,500 share capital is insured for P 25,000 while those with P 5,000 share capital are insured for P 50,000. The premium on this group life insurance is shouldered by the Coop. Note, however, that the effectively of the enrolment is subject to the completion of the insurance form, and the final acceptance and enrolment of the Insurance Company concerned, which normally is one month after application. The Insurance Company has the prerogative to regulate or deny such any application. Enrolled members for insurance are issued a certificate of enlistment. Periodic and annual premia are thereafter paid by the Coop administration. If an individual share fall below the required minimum share capital, the insurance coverage is also automatically cancelled. Maximum insurable age of Regular Members is 65 years old.

4) Patronage Refunds – are paid to borrowing Regular Coop Members depending on the performance of the borrower and the SMDS Coop. For the records, SMDS Coop has paid between 20% to 40% of their interest payments as Patronage Refund since 2000. It has been the stated policy of the Board and the General Membership to provide more benefits to Patronage Refund than to Interest on Share Capital.

5) Hospitalization fund – is a social fund established and allocated by the Board of Directors, subsequently ratified by the General Membership. The purpose is to partly subsidize emergency hospital requirements of Regular Members. The total amount is allocated per area every year depending on the financial performance of the Coop. The financial subsidy is up to a maximum P3,000 per individual per year. Policies and procedures to cover this program as subject to change by the Board from time to time, which will normally include approaching the area director and/or collector concerned and/or visiting the coop office. Necessary formal requests are needed.

6) Damayan fund – is a burial assistance benefit. As directed by policy, all regular members are to be informed and will contribute of P50 from their regular savings once a qualified Regular Member dies. The total amount due the member’s beneficiaries is a multiple of total regular membership as of the date.

7) Community Fund – was established to support area projects that will benefit not only coop members but the area community at large. Annually, funds are allocated for this purpose depending on the financial performance of the coop. The General Community Fund is distributed based on the pro-rata income per area. All programs are submitted for Board approval.

8) Free use of internet: Members are allowed internet use and service for free during regular working hours.

Financial Highlights 2005 - 2007

(in Pesos 000)

For 3 years: 2005 / 2006 / 2007

Assets: 30,646 / 33,600 / 44,394

Share Capital: 8,557 / 11,330 /15,366

Net Income: 4,329 / 6,500 / 8,900

Participating
Deposits: 15,134 / 16,600 / 17,790

Loans O/S: 11,322 / 14,447 / 22,802

Loan Releases: 31,416 / 39,060 / 54,264

Past Due: 1,354 / 952 / 2,098

Past Due %: 11.5% / 6.6% / 8.87%

Provisions: 1,915 / 2,148 / 3,438

Interest on
Share Capital: 1,973 / 1,070 / 2,567

Patronage
Refund: 821 / 2,175 / 2,400

# Membership: 2,040 / 2,500 / 3,461

Various Photos


The Chairman & the Staff

Members waiting in line

At the waiting room

1st Kapihan April 2008

Kapihan April 2008
w. Boy N & Dante M
giving advices

Unaudited FS year end 2006 and 2007


Cash and Investment Positions


Total Assets

Total Liabilities

Revenues

Expenses and Net Income
Before Mandatory and
Other Reserves

Provision and
Mandatory Reserves

General Assembly Photos