Latest data from the Cooperative Development Authority indicated that about 469 cooperatives were able to encode their respective 2019 Audited Financial Statements in the required system. Categorized based on the industry classification, 52 cooperatives were large cooperatives, 77 medium, 117 small and 223 micro cooperatives.
The information on categorization revealed that there of the 52 large cooperatives 5 of which are billionaires in terms of assets. This include the Benguet State University and Community MPC with an asset of-P 2.156 billion followed by the Baguio-Benguet Community Credit Cooperative- P 2.048 billion, Tabuk Multipurpose Cooperative -1.691 billion, Abra Diocesan Teachers and Employees MPC-1.666 billion and Lagawe Multipurpose Development Cooperative-P 1.329 billion. The total assets of these billionaire cooperatives constitute about thirty one percent of the total assets of cooperative in CAR.
In terms of total assets of the 469 cooperatives monitored the latest figure was pegged at about 28.435 billion. Bulk of the total assets was owned by members of large cooperatives at 24.3 billion or about 85%. Medium cooperatives had a total asset of 3.063 billion, small-P 847.577 million and micro-P 223.940 million respectively.
As to the distribution of the different categorized cooperatives it was noted that Benguet registered the highest with 163 cooperatives reporting. This was followed by Baguio City with 116 reporting cooperatives, Kalinga-75, Mountain Province-39, Ifugao-33, Abra-29, and Apayao 14.
The Province of Benguet has the most number of compliant cooperatives that contributed to about 7.940 billion of the total assets of cooperatives in CAR. Baguio City followed with 6.977 billion, Ifugao-4.238 billion, Mountain Province-3.788 billion, Kalinga- 3.507 billion, Abra -1.785 billion and Apayao-196.789 million.
It was observed that the rankings of the billionaire and millionaire cooperatives changed as compared to the published overall standing in 2015. The number of billionaire cooperatives and so with the other categories dramatically increased.
Five years ago, the number of large cooperatives then was only 21. Baguio Benguet Community Credit was the lone billionaire cooperative with total assets of Php 1.37 billion. Other large cooperatives that include the Tabuk MPC (762.70 Million), Cooperative Bank of Benguet (712.81 M), Abra Diocesan Teachers and Employees MPC (472.80 M), Texins MPC (452.78 M), Lamut Grassroots Savings and Development Cooperative (364.67 M), Lagawe Multipurpose Development Cooperative (367.98 M), Benguet State University MPC (304.93 M), Philex Community Credit Cooperative (297.62M), Mothers and Family Multipurpose Cooperative (265.10M),All Saints Credit Cooperative (261.77M),Besao MPC (243.9M),Cooperative bank of Mountain Province (234.81), Banaue Savings and Development Cooperative (224.58M), Tadian Credit Cooperative (203.33M), La Trinidad Vegetable Trading Post MPC (177.40M),The MOOG Credit Cooperative (176.78M), Tabuk Farmers MPC (156.63M), Piwong MPC (153.54M),Treasure Link Cooperative Society (147.42M), Baguio Vegetable Retailers Savings and Credit Cooperative (146.32M),Bad-ayan Buguias Development MPC (138.01M),Sagada MPC (133.68M), Baguio General Hospital and Medical MPC (128.88M), Kiangan Community MPC (113.45M) and St. Louis University-St. Vincent MPC (101.68M). The four medium size cooperatives that joined the list include the Benguet Government Employees MPC (88.21Million), Northern Luzon Federation of Cooperative and Development Center ( 83.41M), Alfonso Lista MPC (75.4M) and Kabayan MPC (75.09M . (To be continued)
