This month is critical to cooperatives in the entire country as they prepare reports to be submitted to various agencies. Most cooperatives finished their General Assembly Meetings but only few complied with submission of mandatory reports and secured Certificate of Compliance as of this writing. I got news that Tabuk Multipurpose Cooperative (TAMPCO) based in Tabuk City, Kalinga and Abra Diocesan Teachers and Employees Multipurpose Cooperative based in Bangued, Abra attained billionaire status as of December 31, 2016. This is in addition to the Baguio Benguet Community Credit Cooperative that reached the billion mark years back. We congratulate the members, management staff and officers of these rocketing cooperatives.
In addition, some of the billionaire together with other millionaire cooperatives in CAR expanded their operations that include procurement and installation of Automated Teller Machines (ATM). Recently, the Benguet State University Multipurpose Cooperative opened its Satellite Office in Abatan, Bauko, Mountain Province and installed an ATM in this remote town. Also, another ATM was installed at its Loo Satellite Office, located at BSU Compound, Loo, Buguias, Benguet. Aside from BSUMPC, the Bokod Sulphur Spring Credit Cooperative has also installed ATM in Bokod, Benguet.
Further, Mr. Albert Docallas, CDA personnel assigned in Mountain Province shared that the fast growing Treasure Link Cooperative Society based in Poblacion, Sagada and Saint Williams Multipurpose Cooperative based in Butigue, Paracelis , Mountain Province had installed ATM in their respective principal offices.
Moreover, Mr. Isaac Gallangi, CDA staff based in Ifugao mentioned that the Lamut Grassroots Savings and Development Cooperative (LAGSADECO) has its ATM in its principal office based in Poblacion, Lamut, Ifugao while the Lagawe Multipurpose Development Cooperative (LMDC) installed its ATM in Poblacion, Banaue, Ifugao.
Also, Abra Diocesan Teachers and Employees MPC (ADTEMPCO) and Tabuk Multipurpose Cooperative also have installed ATMs in their respective area of coverage.
Except Baguio City and Apayao Province, the Provinces of Abra, Benguet, Ifugao, Kalinga, and Mountain Province managed to procure and install ATMs in far-flung areas that are not served by banks.
This current development proves that cooperatives intensified their operations and are bringing their bank-like services closer to the people. While some think that rural folks are not bankable, the presence of these private sector initiatives in remote areas proves otherwise. We then call on our local and national officials to be with us in lobbying for the retention of tax exemption privileges of cooperatives. Removing such will discourage the current initiatives being pursued by cooperatives to contribute to socio-economic growth and development in the country.
