Chapter 1

GENERAL PROFILE OF THE COMPANY

A cooperative is an autonomous and duly registered

association of persons, with a common bond of interest, who have

voluntarily joined together to achieve their social, economic, and cultural

needs and aspirations by making equitable contributions to the capital

required, patronizing their products and services and accepting a fair

share of the risks and benefits of the undertaking in accordance with

universally accepted cooperative principles. Cooperatives serve as a

practical vehicle for promoting self-reliance and harnessing people power

towards the attainment of economic development and social justice.

The primary objective of every cooperative is to help improve the

quality of life of its members. In line with this, every cooperative shall

aim to allow the lower income and less privileged groups to increase their

ownership in the wealth of the nation and cooperate with the

government, other cooperatives and people-oriented organizations to

further the attainment of any of the foregoing objectives.

I. Brief History

1
 One of the programs of the Department of Agrarian Reform is the

organization of a cooperative in the barangay wherein there is a great

number of agrarian reform beneficiaries in the area. The provincial office

is mandated to comply with the order so they have created several

cooperatives in different barangays in the municipalities in the province

of La Union.
The employees of the Department of Agrarian Reform thought of

having a cooperative in the office since they knew the great impact of

having a cooperative, which is to improve the lives of the beneficiaries. In

March 1991, Mr. Renato Flores, the head of the Support Services in the

office formed the cooperative, the Emancipators Multi-Purpose

Cooperative, which is composed of 15 initial members. The cooperative

started with only Php 500 capital build up (CBU) as the initial capital to

run the cooperative. With their initial capital, the members used it in

providing loan within themselves worth Php 10,000 each, initial loan.

The members knew that many are interested to avail the loan because

other employees of the department started to join. The regional office of

the Agrarian Reform also knew of the newly formed cooperative in the

provincial office, so some of their employees also decided to join. From

the 15 initial members, the cooperative now have 80 members, almost all

of which are employees of the agrarian reform.

2
II. Companys Vision and Mission

Vision Statement

A dynamic, sustainable and viable cooperative which effectively

manages its resources for the economic and social development of the

members and serve as an ideal organization towards the empowerment

and upliftment of the lives of the members thereby contributing the

progress of the community.

Mission Statement

EMPC shall promote entrepreneurship, provide financial assistance

and undertakes projects/programs toward the attainment of its vision.

Goals and Objectives

1. To provide capital for the members for their income generating

projects.
2. To provide continuing education and skills development among its

members.
3. To establish alliance building and networking with other

organizations.
4. To adopt environment friendly practices in its programs/projects.
5. To promote social economic services to the community.
III. Services Offered

3
The cooperative engages in lending, consumer store and catering.

Lending

There are three types of loan that can be availed by customers.

Requirements Regular Loan Special Loan Enhancement

Loan
Availment of At least one Paid at least At least one

Loan month after 50% of regular month after

approval of loan. availment of

membership. the regular

loan.
Loanable Twice the Php 15,000.00 Php 10,000.00

Amount capital build for initial loan to Php

up(CBU) but and Php 20,000.00

not to exceed 25,000.00 for

Php 75,000.00 succeeding

loan.
Interest 1% of monthly 16% per 2% per month

4
 interest annum; first

deductible in year interest

advance deductible in

advance
CBU retention 5% of the gross 2% of the gross None

amount amount
Service Php 10.00 for 1% of the gross None

Charge first Php amount

1,000.00 and

Php 5.00 for

succeeding

thousands of

the gross

amount

Maturity 18 months 18 months 3 months

Penalty Php Php Php

0.35/100/day 0.35/100/day 0.35/100/day

Mode of Weekly or Bi- Weekly or Bi- Weekly or Bi-

Payment monthly monthly monthly

Renewal At least with At least with 100% full

75% paid 75% paid payment

amortization amortization
Rebate Fully paid at Fully paid at

5
 least 2 months least 2 months

before due before due

date/maturity date/maturity
Figure 1.1. Types of Loan Offered

Consumer Store

The cooperative sells groceries and cell cards which are payable in

cash only and frozen foods and products from members which can be

both be bought on credit up to Php 300.00 payable within 15 days. The

consumer store also operates a photocopying machine.

Catering

The cooperative serves a variety of foods suitable for any occasion.

IV. Location and Contact Information

Emancipators Multi-Purpose Cooperative is currently located at

RSRK Building, Diversion Road, Biday, City of San Fernando, La Union

with the contact number (072) 242 4436.

6
Figure 1.2. Location Map