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.
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.
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