BSUMPC is first billionaire coop of Benguet

LA TRINIDAD, Benguet  – The Benguet State University Multipurpose Cooperative based in this capital town attained its billion assets as of July 27, 2017. This was announced during the occasion of the CDA-CAR Extension Office Gawad Parangal Recognition at the Lyman-Ogilby Centrum, Magsaysay, Baguio City. The cooperative is a nominee to the search for outstanding cooperative at the regional level.

Financial records of the cooperative shows that as of July 27, 2017 the total assets reached P 1.1B. An interview with its Chief Executive Officer, Ms. Jane T. Asiong, revealed that the growth is attributed to the trust and confidence of cooperative members. “We owe the success of the cooperative to our members who generously share their resources through share capital build-up, savings and time deposits. Also, to our hard-working, committed manpower and supportive officers”, CEO Asiong said.

Currently, the cooperative has a membership base of 23,658 with a laboratory cooperative membership (kiddie accounts) of 4,002. The membership comes from the different parts of the Cordillera Region and adjoining provinces of the Ilocos and Cagayan Valley regions. The active support of the membership enables the cooperative to deliver services to its members on time as resources are internally generated. As a primary cooperative, patronage on services of federations, unions and banks are being undertaken though on a limited scale.

Services of BSUMPC include acceptance of members’ share capital with interest on share capital above the inflation rate; regular savings deposit; time deposit; lending (salary loan, agricultural loan, business loan, industrial loan, assets acquisition loan, home loan, emergency loan, grocery loan, appliance loan, SM shopping card and grocery, microfinance); social services such as mutual aid assistance; hospital assistance; and scholarship grants.

BSUMPC as a consolidated cooperative in 1999 is celebrating its 18th year on September 16, 2017. It emerged as the Benguet State University Credit Cooperative and Benguet State University Consumers Cooperative decided to consolidate and sustain the delivery of services to its members.

BSUMPC has its main office at 2nd Floor, BSUMPC Building, Balili Road, Km. 5, La Trinidad, Benguet. The cooperative also has sub-offices in following locations,  Baguio Satellite Office, 2nd Floor GP Arcade, Mabini Street, Baguio City; Loo–Buguias Satellite Office, BSU Compound, Loo, Buguias; Benguet; Abatan-Buguias Satellite Office, 2nd Floor, Anvio’s Building, Abatan, Buguias, Benguet; and Abatan-Bauko Satellite Office, Abatan, Bauko, Mountain Province.

Considered as the 4th billionaire cooperative within the Cordillera Administrative Region, BSUMPC joins Baguio-Benguet Community Credit Cooperative based in Baguio City; Tabuk Multipurpose Cooperative of Tabuk City Kalinga; and Abra Diocesan Teachers and Employees Multipurpose Cooperative based in Bangued, Abra.

By Lotes Lab-oyan

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