The Benguet Electric Cooperative’s (BENECO) 53,591 member-consumer-owners (MCO) will again enjoy the interest earnings of their share capital contributions to the cooperative starting this June 2025.
As recommended by the management team led by general manager Melchor S. Licoben, the board approved resolution 077-2025 “Approving the Declaration and Distribution of Share on Interest Earnings of Share Capital to Member Consumer Owners Who Paid their Share Capital,” in their regular May 8, 2025 meeting.
The resolution approved the equitable distribution of the P2,227,256.81 earned from the investment of the P55.2 million collected share capital as of November 30, 2024.
This is the second year that BENECO members will enjoy the earnings of their share capital contribution.
On the same month last year, BENECO also rolled-out the release of the interest earnings of 1,969 MCOs in the form of “advance deposits” credited to their June billing.
“This June, BENECO members who have paid P11,500.00 share capital as of December 31, 2023 would have at least P500.00. These will be distributed in cheques. Members who paid a share capital of P2,000.00 as of December 31, 2023 would have a share on interest earnings of about P90.00, that will be credited in their June billing,” Benelita Linmipao, BENECO accounting officer, explained.
While those who have paid less than the P2,000 minimum contribution, can only claim their “billing deduction” upon completion of their minimum capital share contribution, Linmipao said.
There are 162 members who have paid more than P10,000 share capital, while there are 11,161 who have completed their minimum P2,000 contribution, and 42,268 consumers who have yet to complete their minimum share capital contribution.
The highest capital share contributor is a member from Engineers Hill Barangay in Baguio City with his P352,000 capital share contribution. He will receive the highest amount in interest earnings.
Out of the 150,632 total members as of December 31, 2024, about 97,041 members have yet to pay their capital share contributions.
Though the remaining number of members who have yet to pay is still a significant number, the co-op saw an increase of members who completed their P2,000 minimum contribution.
Linmipao credited the increase to the promotions and active information campaign program of the co-op reaching out to the barangays.
These programs ignited the members’ interest to top-up and contribute more than the minimum.
Under the Cooperative Development Authority (CDA) policies and guidelines, and based on the coop’s Articles of Cooperation and By-laws (ACBL), one of the primary requirements in order to become an MCO in the electric cooperative is by paying a minimum number of shares equivalent to 20 shares or a minimum P2,000.00.
BENECO became a fully registered cooperative under the CDA in November 2020. By Laarni S. Ilagan
