PMES presentation and history of cooperative

cooperative membership

1. MAMBAJAO MULTIPURPOSE COOPERATIVE PRE – MEMBERSHIP EDUCATION SEMINAR

2. MAMBAJAO MULTIPURPOSE COOPERATIVE What is Cooperative? A Cooperative is a type of an organization owned, controlled, and run by its members who patronize its own products and services. It involves mutual assistance in working towards a common goal in accepting a fair share of risks and benefits guided with the cooperative values and principles.

3. MAMBAJAO MULTIPURPOSE COOPERATIVE WHAT ARE THOSE values? COOPERATIVE VALUES Self-Help Self Responsibility Solidarity Equality Equity Democracy Honesty Openness Social Responsibility Caring for Others

4. MAMBAJAO MULTIPURPOSE COOPERATIVE 7 Cooperative principles 1. OPEN AND VOLUNTARY MEMBERSHIP Cooperatives are open to all persons without gender, social, racial, political, or religious discrimination. 2. DEMOCRATIC MEMBER CONTROL Members actively participate in setting policies and making decision Members elect the board of directors Officers are accountable to the general membership

5. MAMBAJAO MULTIPURPOSE COOPERATIVE 7 Cooperative principles 3. MEMBER ECONOMIC PARTICIPATION Members contribute capital used for cooperative activities Members receive dividends and patronage refund Members support the economic activities of the cooperatives. 4. AUTONOMY AND INDEPENDENCE Cooperatives can freely enter into agreements with other organization.

6. MAMBAJAO MULTIPURPOSE COOPERATIVE 7 Cooperative principles 5. EDUCATION TRAINING AND INFORMATION Cooperatives provide education and training for their members, elected representatives, managers, and employees so that they can contribute effectively to the development of their cooperatives 6. COOPERATION AMONG COOPERATIVES Cooperatives work with other coops. (linkages) 7 . CONCERN FOR THE COMMUNITY Cooperatives initiate and support projects for the good of the community.

7. MAMBAJAO MULTIPURPOSE COOPERATIVE Cooperative vs. bank What are the differences? COOPERATIVE Members are the Owner Controlled by its members High Interest Rate on Savings Dividend and Patronage Refund Mortuary Aid Stabilization Fund TAX EXEMPT BANK Owned by Stockholders Controlled by Stockholders Low Interest Rate on Savings Income to be divided only to Stockholders None Member of PDIC TAXABLE

8. MAMBAJAO MULTIPURPOSE COOPERATIVE How we started? Mambajao Credit Cooperative (MCC) was the first cooperative in Camiguin registered with CDA. It was organized in March 19, 1967 through the initiative of a certain Jesuit Missionary Priest by the name of Father William F. Masterson, with 50 member-initiators having a total capitalization of Php 1,000.00 only. In compliance with the Republic Act 9520 also known as The Philippine Cooperative Code of 2008, it was re-registered and amended on May 5, 2017 to change its name to MAMBAJAO MULTIPURPOSE COOPERATIVE (MMC) which aims to strengthen, increase, promote and improve the economic condition of all its members.

9. MAMBAJAO MULTIPURPOSE COOPERATIVE MMC MISSION MMC uplifts the lives of its members and the community by providing quality products and allied services.

10. MAMBAJAO MULTIPURPOSE COOPERATIVE MMC vision A responsive member-centered and community-based cooperative.

11. MAMBAJAO MULTIPURPOSE COOPERATIVE Mmc core values God-centeredness Empathy Integrity Synergy Openness Commitment Loyalty

12. MAMBAJAO MULTIPURPOSE COOPERATIVE Where are we now? MAMBAJAO BRANCH ( March 19, 1967) CATARMAN BRANCH (August 8, 2003) BALINGOAN BRANCH (April 8, 2006) MAHINOG BRANCH ( September 8, 2016) 4 branches

13. MAMBAJAO MULTIPURPOSE COOPERATIVE BOARD OF DIRECTORS EMIGDIO N. IROY BOD - Chairperson JOSEFINA AVES – EBARLE, PH.D BOD – Vice Chair AMELITA B. ROS Board of Director MERCEDES I. S. MARQUEZ Board of Director GLADYS B. JABINES Board of Director NICOLAS A. MARTHO Board of Director SENESIA CHAN Board of Director SARAH M. S. RANIN Board of Director WILFREDO T. NOGUERA Board of Director

14. MAMBAJAO MULTIPURPOSE COOPERATIVE HEAD OFFICE CORA NIMFA GASPAR - VIVAR General Manager

15. MAMBAJAO MULTIPURPOSE COOPERATIVE MAMBAJAO BRANCH GENIE PENALOZA – MACABAYA Branch Manager

16. MAMBAJAO MULTIPURPOSE COOPERATIVE CATARMAN BRANCH RAY NESTOR LL. GAGNAN Branch Manager

17. MAMBAJAO MULTIPURPOSE COOPERATIVE BALINGOAN BRANCH RICO G. MURILLO Branch Manager

18. MAMBAJAO MULTIPURPOSE COOPERATIVE MAHINOG BRANCH VERA CLAIRE ADLAON - SALON Branch Manager

19. MAMBAJAO MULTIPURPOSE COOPERATIVE Where are we now? membership

20. MAMBAJAO MULTIPURPOSE COOPERATIVE Where are we now? ASSET

21. MAMBAJAO MULTIPURPOSE COOPERATIVE Where are we now? LOAN PORTFOLIO

22. MAMBAJAO MULTIPURPOSE COOPERATIVE Where are we now? NET INCOME

23. MAMBAJAO MULTIPURPOSE COOPERATIVE AFFILIATIONS National Confederation of Cooperatives – ( NATCCO) National Association of Training Centers for Coops. They provide T rainings, Education, and Consultancy services for cooperatives at the national level.  MASS-SPECC MASS SPECC Cooperative Development Center is the oldest and largest cooperative federation in the country. They offer Capacity Building Program, Consultancy, Training, and Pinoy Coop ATM. CLIMBS Life and General Insurance CLIMBS Life and General Insurance Cooperative is a life and non-life insurance cooperative duly licensed by both the Cooperative Development Authority and Insurance Commission. They offer insurance services to various cooperative.

24. MAMBAJAO MULTIPURPOSE COOPERATIVE PRODUCTS AND SERVICES SAVINGS PRODUCT LOANS PRODUCT INSURANCE SERVICES GOV’T CHEQUE ENCASHMENT WESTERN UNION MONEY TRANSFER ATM SERVICES KAYA PAYMENT PLATFORM KAYA POS MMC MOBILE APP

25. MAMBAJAO MULTIPURPOSE COOPERATIVE SAVINGS PRODUCTS Regular Savings Time Deposit TEGUMAN Savings (Tagana alang sa Edukasyon tungod sa Gugma sa mga Anak) KUSOG Savings ( Kalambuan Ug Siguridad alang sa Ugma) Aflatoun /Youth Savings PINOY COOP ATM Savings KAYA Savings

26. MAMBAJAO MULTIPURPOSE COOPERATIVE INTEREST RATES on savings Regular Savings - 2.5% per annum TEGUMAN Savings - 4% to 6% per annum (3 to 6 years term) KUSOG Savings - 7% to 10% per annum (7 to 10 years term) 4. TIME DEPOSIT   1 MONTH 3 MONTHS 6 MONTHS 1 YEAR 20k TO 100K     2.750% 2.875% 100,001K – 500K 3.000% 3.125% 3.250% 3.375% 500,001K – 2M 3.500% 3.625% 3.750% 3.875% 2,000,001K – 5M 4.000% 4.125% 4.250% 4.375% ABOVE 5M 4.500% 4.625% 4.820% 5.015%

27. MAMBAJAO MULTIPURPOSE COOPERATIVE Insurance services Coop Loan Protection Plan (CLPP) GROUP LIFE, ACCIDENT W/ FIRE (GLAFI) FAMILY INSURANCE FIRE INSURANCE PLAN MOTOR/CAR INSURANCE COOP AKSI PLAN STUDENT ACCIDENT INSURANCE and many others…

28. MAMBAJAO MULTIPURPOSE COOPERATIVE Loan products

29. MAMBAJAO MULTIPURPOSE COOPERATIVE capital build up ₱ 25,000/MEMBER (NON-WITHDRAWABLE) An applicant for membership shall subscribe at least TWO HUNDRED AND FIFTY (250) shares and pay the value of at least FIVE (5) shares. One (1) share is equivalent to ₱ 100.00.

30. MAMBAJAO MULTIPURPOSE COOPERATIVE Member in good standing CRITERIA IN BECOMING A MEMBER IN GOOD STANDING (MIGS) Has Share capital contribution of not less than twenty five thousand (₱ 25,000.00) pesos; Has A MINIMUM SAVINGS DEPOSIT OF ONE THOUSAND PESOS (₱1,000); Has NO delinquent in the payment of his / her share capital subscriptions and other accounts or obligations; Has NOT violated any provision of cooperative laws, CDA administrative issuances, Articles of Cooperation and By-laws, the terms and conditions of the subscription agreement; and the decisions, guidelines, rules and regulations promulgated by the General Assembly through the Board of Directors ; Has participated in all affairs of the cooperative especially the recent annual General Assembly and patronized its businesses in accordance with cooperative’s policies and guidelines; and Such other conditions as stipulated in the election code of MMC;

31. MAMBAJAO MULTIPURPOSE COOPERATIVE Benefits of becoming a member MEMBER IN GOOD STANDING (MIGS) Right to Vote Birthday Gift Certificate Loan Availment Dividend Patronage Refund Medical Assistance Fire Assistance Mortuary Aid TAX Free REGULAR MEMBER Loan Availment Dividend Patronage Refund Medical Assistance Fire Assistance Mortuary Aid TAX Free

32. MAMBAJAO MULTIPURPOSE COOPERATIVE MORTUARY AID BENEFIT AND COMPUTATION MORTUARY SAVINGS DEPOSITS- are deposit required by MMC to a potential member. These is from the General Membership Contribution of ₱ 500.00 , which serves to be a financial assistance to the beneficiary of a member in case of death. Each MMC members will be deducted ₱ 10.00 from their MSD account as an AID to every lifeless members. These will be replenished upon annual distribution of Dividend and Patronage Refund (DPR ). MORTUARY AID SCHEME: After the distribution of DPR, a one (1) month grace period SHALL BE  given to the members to comply the required Mortuary Savings Deposit of Five Hundred Pesos (500.00). After the 1 month grace period, giving of mortuary aid to the beneficiary of the deceased member is proportionate to their MSD (Mortuary Savings Deposit ).

33. MAMBAJAO MULTIPURPOSE COOPERATIVE MORTUARY AID BENEFIT AND COMPUTATION COMPUTATION: For Regular Members with share capital of at least ₱ 2,000:   MSD ÷ 500 x 25,000 = Amount of Mortuary Aid   For Regular Members with share capital below ₱ 2,000 :   MSD ÷ 500 x 15,000 = Amount of Mortuary Aid For the beneficiaries whose deceased members contributed the full amount of Five Hundred Pesos (500.00) MSD will receive the amount as shown on the next slide.

34. MAMBAJAO MULTIPURPOSE COOPERATIVE MORTUARY AID BENEFIT AND COMPUTATION Existing Mortuary Aid Scheme with Share Capital of 2,000 Existing Mortuary Aid Scheme with Share Capital of 500 0-11 MONTHS MEMBERSHIP 0-11 MONTHS MEMBERSHIP 1 year 5,000.00 1 year 5,000.00 2 years 10,000.00 2 years 10,000.00 3 years 25,000.00 3 years 15,000.00   Proposed Mortuary Aid Scheme   Range Scheme   10,000-24,999 25,000+2 % of SC   25,000—49,999 25,000+4 % of SC   50,000-74,999 25,000+6 % of SC   75,000-99,999 25,000+8 % of SC   100,00 above 35,000

35. MAMBAJAO MULTIPURPOSE COOPERATIVE MORTUARY AID BENEFIT AND COMPUTATION REMINDER: IF A MEMBER DIES WITHIN 0 -11 MONTHS OF MEMBERSHIP HE/SHE SHALL NOT BE ENTITLED TO RECEIVE MORTUARY AID ASSISTANCE BUT HIS/HER MORTUARY SAVINGS DEPOSIT SHALL BE RETURNED. IF A MEMBER DIES DUE TO ACCIDENT, HIS MORTUARY AID WILL BE DOUBLED BASED ON THE EXISTING MORTUARY AID SCHEME. IF A MEMBER WITH EXISTING DELINQUENT LOAN DIES, PROCEEDS FROM THE SAID MORTUARY AID SHALL BE DEDUCTED AGAINST HIS OUTSTANDING OBLIGATIONS WITH MMC, EXCEPT IF THE LOANS WERE STILL COVERED BY LOAN INSURANCE.

36. MAMBAJAO MULTIPURPOSE COOPERATIVE DUTIES AND RESPONSIBILITES IN BECOMING A REGULAR MEMBER Pay the instalment of his/her share capital subscription as it falls due and to participate in the capital build-up and savings mobilization activities of the Cooperative; Patronize the Cooperative’s business( es ) and services; Participate in the membership education programs; Attend and participate in the deliberation of all matters taken during General Assembly Meetings; Observe and obey all lawful orders, decisions, rules and regulations adopted by the Board of Directors and the General Assembly; and Promote the purposes and goals of the Cooperative, the success of its business, the welfare of its members and the cooperative movement in general.  

37. MAMBAJAO MULTIPURPOSE COOPERATIVE RIGHTS AND PRIVILAGES IN BECOMING A REGULAR MEMBERS Attend General Membership Meetings; Avail himself of the products and services of the Cooperative, subject to certain conditions as may be prescribed by the Board of Directors; Inspect and examine the books of accounts, the minutes books and other records of the Cooperative during reasonable office hours; Secure copies of cooperative records / documents pertaining to the account information of the concerned member; Participate in the continuing education and other training programs of the cooperative; and Such other rights and privileges as may be granted by the General Assembly.

38. MAMBAJAO MULTIPURPOSE COOPERATIVE REQUIREMENTS AND QUALIFICATION IN BECOMING A MEMBER M ust be of legal age (18-65 years old). H as satisfactory completed the Pre-Membership Education Seminar conducted by MMC Has paid the necessary monetary requirement Pre-Membership Education Seminar (PMES) Certificate Duly accomplished cooperative’s membership application form Recent 1piece 2x2 picture and 2 pieces 1x1 picture 1 valid ID

39. MAMBAJAO MULTIPURPOSE COOPERATIVE Monetary requirements REGULAR MEMBERSHIP (with loan benefits) Share Capital ₱ 2,000.00 Savings Deposit ₱ 1,000.00 Membership Fee ₱ 200.00 Mortuary Savings ₱ 500.00 ATM Savings ₱ 300.00 AKSI ₱ 100.00 KAYA ₱ 100.00 ₱ 4,200.00 REGULAR MEMBERSHIP (w/o loan benefits) Share Capita ₱ 500.00 Savings Deposit ₱ 500.00 Membership Fee ₱ 200.00 Mortuary Savings ₱ 500.00 ATM Savings ₱ 300.00 AKSI ₱ 100.00 KAYA ₱ 100.00 ₱ 2,200.00 ASSOCIATE MEMBERSHIP Share Capita ₱ 100.00 Savings Deposit ₱ 100.00 Membership Fee ₱ 200.00 AKSI ₱ 100.00 ₱ 500.00

40. MAMBAJAO MULTIPURPOSE COOPERATIVE Withdrawal / termination of membership Automatic Termination of Membership The death, insanity, permanent incapacity or judicial declaration by a competent court or the insolvency of a member shall be considered an automatic termination of his / her membership in the Cooperative. In case of death, insanity or permanent incapacity of the member, the next of kin or the beneficiary shall assume the duties and responsibilities of the original member . If the next of kin or beneficiary is already a member, the Share Capital of the original member shall be automatically transferred provided that any other obligation has been settled . In case of death, insanity or permanent incapacity of the member, all his/her savings in the cooperative shall be applied to his/her loan obligation to settle his/her account.

41. MAMBAJAO MULTIPURPOSE COOPERATIVE Withdrawal / termination of membership Voluntary Termination of Membership   A member may, for any valid reason, withdraw his / her membership from the cooperative and shall communicate in advance for a sixty (60)–day to notify the Board of Directors. HOWEVER, INTEREST ON LOANS, LOAN AVAILMENT, MORTUARY AID, FIRE ASSISTANCE AND MEDICAL ASSISTANCE SHALL BE TERMINATED UPON SUBMISSION OF THE APPLICATION FOR WITHDRAWAL FROM MEMBERSHIP. NO MEMBER SHALL BE ALLOWED TO WITHDRAW OR TERMINATE HIS / HER MEMBERSHIP DURING ANY PERIOD IN WHICH HE / SHE HAS ANY PENDING : LOAN OBLIGATION GREATER THAN HIS/ HER SHARE CAPITAL AND SAVINGS DEPOSIT; AND OBLIGATION AS A CO-MAKER OF A BORROWER WITH THE COOPERATIVE.

42. MAMBAJAO MULTIPURPOSE COOPERATIVE Guidelines on balik member Members who withdrew their membership maybe allowed to re-apply A YEAR AFTER upon the approval of the Board of Directors. For balik -members, an outright share capital of Twenty Five Thousand Pesos (₱25, 000.00), Savings Deposit of at least One Thousand Pesos (₱1, 000.00); an MSD of Five Hundred Pesos ( ₱ 500.00) and a two ( ₱200) hundred pesos membership fee shall be required.

43. MAMBAJAO MULTIPURPOSE COOPERATIVE SOCIAL MEDIA ACCOUNTS and hours of operation www.mambajaomultipurposecoop.com www.facebook.com/mmc.hedoffice mmc.hedoffice [email protected] [email protected] [email protected] [email protected] Monday to Friday 8:00 AM to 4:00 PM Saturday 8:00 AM to 12:00 NN