Philippine Cooperative Blog

ELECOM Consultation and Policy Formulation

2012-01-15T10:32:00.001+08:00

Tent City in Calaanan

2012-01-10T11:10:00.001+08:00

Tent city for Sendong victims

Asa Daw Si Mayor Dongkoy Emano During Kay Sendong

2012-01-03T13:04:00.000+08:00

I have read this article in INQUIRER website thru this link.

Read it and think, I am not a CDO voter but I am bothered by this article.

http://newsinfo.inquirer.net/121071/cdo-mayor-faces-brewing-protest-storm

FICCO MBA Disburses More Claims of Typhoon Sendong Victims

2011-12-24T10:39:00.001+08:00

FICCO & FICCO Foundation Ink MOA

2011-12-23T00:36:00.001+08:00

First Community Cooperative ang FICCO foundation officially signs memorandum of agreement.

Typhoon Sendong in CDO & Iligan

2011-12-21T09:39:00.000+08:00

FICCO MBA pays Insurance Claims to Beneficiaries

2011-12-20T17:59:00.007+08:00

FICCO MBA Distributing insurance claims to beneficiaries of Typhoon Sendong, Sorry for the graphic images I shot this using my mobilephone.

HELP ILIGAN & CDO
FICCO accepts donations - click here

Help Iligan & CDO Typhoon Sendong Victims

2011-12-20T13:30:00.005+08:00

Please Help Iligan and CDO

Donate Now

FICCO Accepts Donations for Sendong Victims

2011-12-20T13:09:00.004+08:00

First Community accepts donations for Typhoon Sendong victims:
Bank: Banco De Oro (BDO)
Account Name: FICCO Main
Savings Account No.: 1760099021

Bank: ChinaBank
Account Name: FICCO Main
Savings Account No.: 374-015552-6

Bank: Bank of Philippine Island (BPI)
Account Name: FICCO Main
Savings Account No.: 009336-2018-49

Globe GCASH: 2882 917-716-0347

Please call FICCO Main (08822) 722450

CDO Flood Videos

2011-12-18T09:43:00.001+08:00

CDO Flood 2011 - InterAksyon NEWS 5

2011-12-18T07:45:00.006+08:00

InterAksyon News 5
Photos by: Cheryl Agabayani and Erwin MascarinasDead body retreival
Dead kids
Dead child
From Aksyon News 5
Courtesy of Archie (Facebook account)

Courtesy from Alsi Alid Aldicul (Facebook account post)

Cagayan de Oro Typhoon Sendong, Flood 2011

2011-12-18T07:07:00.005+08:00

Maximizing Strength @ 57

2011-09-10T11:07:00.002+08:00

Maximizing Strength @ 57

Our FICCO rides on many strengths: almost 150,000 members, an army of dedicated volunteers, a corps of experienced and devoted personnel, committed leadership, a wide-menu of responsive products and services, 56 offices nationwide, 57-year successful track record, and many more.

FICCO’s humble beginning is best illustrated by its original 17 members when it started as Ateneo Credit Union (ACU) in 1954. The initial contribution amounted to a measly P 26.30. When ACCU (it became Ateneo Cooperative Credit Union in 1961) opened itself to the Cagayan de Oro community in 1970, its assets amounted to only P 184,000.00 and membership of less than 200. We have gone a long way indeed as shown in the following graphs.

The graphs display in full the strength of FICCO in terms of membership support and responsiveness of its products and services. Loyal FICCO members make FICCO their depository, preferring it over banks proliferating all around. One can also deduce that our Coop couldn’t have achieved these remarkable milestones if it is not managed well, if its leadership failed to provide the right direction, and if it has no army of volunteers eagerly lending support.

By bringing its services closer to its members through branching out, FICCO easily expanded its reach even to areas where other financial institutions shied away. More importantly, its cost-efficient operation allowed the grassroots to enjoy banking services at prices normally offered only to the bankable. On top of this, the members also enjoyed returns on their investments at rates better than what the mainstream investors are getting from their stock investments.

Should FICCO now just sit on its laurels and relax, enjoying the fruits of its labors during the last 57 years? Definitely not! There are many things FICCO can do effectively, taking into account its strength. Its present leadership and top management could consider the following:

1. On-line banking. Members will be better served if they can deposit, withdraw, and avail loans from any FICCO office, or even if they are working overseas.

2. Money-transfer or remittances. With our network of branches and business centers, as well as our relationship with coop banks, and taking advantage of technology, FICCO can facilitate the flow of money among its members and their relatives, within the country and abroad. Thus, our many OFW members will be served. The multiplier effect in terms of business generated, transactions completed and anxiety eliminated is unquantifiable.

3. Distributorship. Market networking is now commonplace. And there are products and services that don’t require much in terms of warehousing and delivery. FICCO can partner with manufacturers and serve as conduit in product distribution. It can also tie-up with producers coops in distributing the latter’s products, e.g. rice producing coops packaging their produce in 5 or 10-kilo bags.

FICCO, with its huge membership base and network of offices, can easily facilitate the above services at competitive prices, to the advantage of its members. From experience, FICCO’s trailblazing moves set the standards in rural finance, benefitting the community as a whole. There is no reason not to bring its strengths to bear in other business lines.

FICCO can also leverage its sizable liquid asset pool to acquire utilities, e.g. electricity and water. The intent of the National Electrification Administration to sell losing electric coops to the private sector is a big blow to the coop movement of this country. But it is an opportunity that FICCO, along with like-minded coops, can explore. Ditto for water utilities. The impending removal of the LWUA head could pave the way for our drive to cooperativize water districts.

Before we get carried away with all these grandiose possibilities, let us reiterate to ourselves the reasons we do the things we are good at and explore new things using our strengths. FICCO is here to help alleviate poverty, redistribute wealth, and build up this country.

More power to FICCO on its 57^th anniversary! And congratulations to all its supportive members, dedicated personnel and committed leaders for making FICCO the leading cooperative of the country today. (ibdaba, 30 June 2011)

Grasping the Coop Way: Strength in Unity

2011-09-10T10:53:00.003+08:00

October is that time of the year when cooperatives are recognized for their invaluable contributions to the country.

Last October 3, 2010 marked the launching of the Cooperative Month. Coops from the different parts of Region 10 gathered around the Capital Grounds to witness the opening ceremonies. Everyone was excited to begin the day’s festivities that included a mass, followed by the Cooperative parade, a bloodletting activity, and free medical consultations. Informative and educational activities were also lined-up for the whole month to cater to the needs of the different coops.

It was magnificent to see how the Cooperative way has expanded. The sheer number of coops that were present was a proof how far people understood the coop way. Coops serving the different facets in the society have embraced the cooperative philosophies and principles. Though varied, it was clear that there was a sense of unity despite of their diversity in ideals and interests. Coupled with the ambience of unanimity was the peculiar connection to the year’s theme, “One Coop Movement: Isang Pananaw sa Pagbabago at Pag-asenso.” Judging on how the events pushed through, it was not peculiar at all. Yet, it was reminder of one important lesson that spurred the conception of cooperatives: Strength in Unity.

History relishes the power of unity to spark change. It is the kind of unity that transcends mere rewards and benefits. Rather, it is the kind of unity that drives people to help themselves and return, help others. Despite of the different challenges and adversities, the unity between the members serves as the anchor and the foundation that drives us to persevere.

As more and more cooperatives blossom, celebrations like the Coop Month reminds us to continue in our endeavors to unite people. In a world where materialism is eminent, it is our social responsibility to invite people to grasp the coop way. (rcuenca Oct. '10)

56: Revisiting Foundational Paradigms

2011-09-10T10:44:00.003+08:00

The First Community Cooperative (FICCO) first embarked on a journey towards sustainable development and social security on July 8, 1954. Fifty-six years later, FICCO remains and still leads the way in realizing these visions.

No one could have ever imagined what FICCO would be 56 years after it was first conceived. Being in service for 56 years is no joke. We are talking about a cooperative that withstood the fragile economy of the 1960s. A cooperative that crawled throught the martial law. A cooperative that survived the 1990s financial crisis. And a cooperative that endured the global recession. There must be something that FICCO did to sustain itself amid all the trials that it experienced through the years. As we try to probe what made FICCO after 56 years, let us take a step back and relive the history of FICCO, from the its early predecessors, to its launching fathers up to today.

Digging up the history books, the meek minds of employees jumpstarted FICCO. They were naive and simple people who wanted to feel financially secure. They put a small group and agreed amongst themselves to help each other out. Fr. William Masterson, SJ saw something in their eyes and later organized them into a more orderly and productive group. From a small network of employees, FICCO (FICCO was known as ACCU back then) grew larger and needed to reach out to more people. By then, FICCO was a staple in cooperative works as other cooperative followed its lead.

Everyone who was affiliated with FICCO had this drive to continually be better, whether he/she maybe a member or an officer or an employee. This drive was soon to be regarded as a norm or a standard. Now, we finally see what made FICCO last for 56 years. It’s the culture of being COMMITTED. Even though our early forerunners did not realize that, they were committed to making their colleagues lives better through unity.

From then on, everthing came into place. The formulation of written codes that constantly reminds us of our duties and responsibitites are just for formalities. Practicing total membership care and good governance as well as having the defining values are imbedded to the hearts of minds of FICCO members.

Almost all the members believe that the key for having the continuity FICCO has achieved has been the conscious effort to adhere to the foundational paradigms that jumpstarted the cooperative. But quite frankly, the key for FICCO’s existence are the members who abides by the FICCO culture.

This culture maybe 56 years old but they were same standards that helped FICCO survive through various trials and challenges. However, it is important for these paradigms to not only be stagnant but also to continue to nurture this culture. And through this, FICCO will be the benchmark of a progressive and dynamic cooperative for years to come. (rcuenca july '10)

#109 ATING KOOP

2010-03-01T00:10:00.001+08:00

First, we were No. 24. Then, when new party list groups won their case in the Supreme Court, we moved up to No. 29. In the final list issued by COMELEC last 25 February 2010, ATING KOOP is listed as No. 109.

Only One, and make it No. 109

There are more than 180 party list groups that COMELEC allowed to run in the May 2010 election. But a qualified voter can vote for only one party list. We urge you to shade or blacken No. 109 and that is our party list, the ATING KOOP.

Why ATING KOOP?

There are many reasons why we have to work hard for ATING KOOP to win three seats in Congress. Here are the most important –

o ATING KOOP, upholding real coop values, espouses transformational governance. No to transactional, patronage politics! No to distribution of pork barrel based on votes delivered! No to cash in paper bags!
o ATING KOOP fights for initiatives that will cooperativize public utilities like water supply, electric power distribution, etc. as a tool for redistributing wealth to the grassroots.
o ATING KOOP fights for tax and other incentives that will level the playing field for grassroots institutions and initiatives.
o ATING KOOP promotes undertakings that will strengthen the whole coop movement, e.g. training of coop people and computerization, networking of all coops that will facilitate banking, remittance and other transactions of members.

An equally important reason for supporting ATING KOOP is to prove to ourselves that there is such thing as a ‘coop vote.’ Our lives were transformed through the economic and social access that our coops provided. Let this transformation be confidence builder and move us to decry the ways of governance we witness today.

The economic and social benefits we now enjoy are negated by the blatant disregard of good governance principles by most public officials and institutions. Let our solid coop vote for ATING KOOP be a warning shot to those who put greed in the altar of their lives. Let our votes for ATING KOOP also become a shout “Tama na! Sobra na! Ituwid na!”

Please remember: It is not enough to just vote for No. 109 ATING KOOP party list. Let us also work hard to campaign within our circle of influence (family members, relatives, neighbours, friends, co-workers, fellow association members) so that ATING KOOP will win three seats in Congress.

Ating Koop: Hiniusang singgit alang sa kausaban!

2010-03-01T00:09:00.000+08:00

Dunot o bulok ang atong matang sa politika, nga gisakyan pa gayod sa mga bulok usab nga mga lider. Sa panahon sa kampanya, haring lungsod ang ilang tawag kanato. Kon makahupot na sa gahom, sila na ang gahari-hari, hinikalimtan ang lungsod.
Sayon kini mahitabo kay gitugotan man nato. Ang atong walay pagpakabana sa ilang mga hiwing binuhatan, mihatag kanilag lisensya sa pag-abuso sa puesto. Ang atong pagpakahilom sa ilang kalapasan, miaghat kanila sa pagbaliwala sa ilang gipanumpaang responsibilidad. Mga national man nga mga lider (Marcos, Estrada, GMA) o mga local nga opisyales, ilang gihimo ang ilang mga nahimo kay wala man kita mobarog sa atong katungod.
Sa atong pagbaligya sa atong boto, o sa atong pagpangayo/pagdawat sa hinabang gikan niining mga mapahimuslanong politiko, atong gisalikway ang atong katungod mga mangayog husay sa ilang binuhatan sa paghupot sa gahom.
Kon gusto kitag kausaban, niining piniliay sa Mayo 2010 gikinahanglan ang atong madasigong panginlabot. Atong ipakita nga ang tinuod nga gahom sa demokrasya nagagikan sa hiniusang kusog sa katawhan.
Among giaghat ang tanan sa pagpamalandong kon kinsa ang angayan mohupot sa renda sa pangagamhanan. Ayaw pahaylo sa mga matam-is nga saad, o sa mga pasalig nga tingusbawan. Tan-awa kon kini nga mga politiko wala ba migamit sa ilang puesto aron pagpalambo sa ilang negosyo o pagpatambok sa ilang bulsa.
Giaghat usab ang tanan sa pagpaningkamot nga modaug ang Ating Koop Party List. Gawas sa imong sakop sa pamilya, hangyo-a usab ang imong mga higala, kaubanan, silingan, kauban sa buhat o kapunongan sa pagboto usab sa Ating Koop. Sa talaan sa COMELEC, ang Adhikaing Tinataguyod ng Kooperatiba (Ating Koop) ika-numero 29.
Lahi karon ang sistema sa pagbotar. Tanang mga kandidato, gikan sa pagka presidente, vice-presidente, senador, ngadto sa pagka kagawad sa dakbayan o lungsod, nalista sa balota. Ang himoon lang sa botante mao ang pag “shade” o “blacken” sa lingin o circulo (O) nga naa mahimutang una (before) sa ngalan sa kandidato nga gusto mo iboto. Pananglitan, ang gusto mo iboto pagka presidente si Noynoy Aquino, imong ituman (blacken) ang lingin nga nag-una/abay sa pangalan Benigno “Noynoy” Aquino.
Mao gihapon sa Party List. Adunay 144 ka mga kandidato sa Party List, apan usa lang ang puede nimo botohan. Paghuman nimo pag “blacken” sa imong piliong presidente (usa lang ang i-blacken), vice president (usa ra usab), senador (maximum sa 12), adto dayon sa ika-29 nga Party List. Itumi (blacken) dayon ang lingin abay sa Ating Koop. Palihog tudlo-i usab ang sakop sa imong pamilya, higala, kaubanan, silingan, kauban sa buhat o kapunongan sa bag-ong sistema sa pagbotar. Ayaw hikalimti pag aghat kanila sa pag “blacken” sa ika-29 nga lingin nga mao ang Ating Koop.
Ang Ating Koop maoy tumong ang paghaw-as sa mga kabus sa kalisdanan pinaagi sa Kooperatiba. Moasdang kini sa mga balaod-non nga magpalig-on sa kooperatiba ug sa mga kalihokan nga makatabang sa mga kabus. Ang Ating Koop dili makipagnegosasyon o makipagtransaksyon sa mga hut-ong nga maoy tinguha ang pagpalambo lang sa interes sa pipila.
Ang boto alang sa Ating Koop usa ka singgit nga husto na! Bag-ohon na ang matang sa politika. Ang boto sa Ating Koop boto alang sa kalamboan sa kinabag-an. Ang boto sa Ating Koop pagpatigbabaw sa “transformational politics.” Ang boto sa Ating Koop mao ang paghunahuna sa kaugmaon sa atong nasud ug sa atong mga anak.

Unsay kaugmaon sa atong mga anak?

2010-03-01T00:08:00.000+08:00

Piniliay na usab! Wala pa gani magsugod ang “campaign period,” mibaha na sa atong radyo ug telebisyon ang mga propaganda sa mga politiko. Kon tuohan ta kining ilang propaganda, bisan kinsa kanila makadala gayod sa atong nasud ngadto sa kalamboan.
Apan dili ba nga sa miaging piniliay, ang susama nga mga pasalig ato na man nadungog? Hain na man ang ilang mga gisaad? Nganong mas lisod man ang atong kahimtang karon kon itandi sa atong kahimtang niadtong dekada 90?
Simple lang ang tubag sa maong mga pangutana: 90% sa mga politiko dili manuko sa pag-ilad kanato. Ang ila lang kaugalingon interes ang ilang ipatigbabaw kon sila makahupot na sa gahom. Dili na kinahanglan mohatag og kwenta o husay sa ilang pagpangagamhanan ubos sa katarungan nga gibayran na ang kinabag-an kanato dihang midawat kita sa salapi isip bugti sa atong boto. Kanang mga hinabang, sama sa lungon, pa ospital, tambal, ug uban pa, paagi kana sa pagpalit sa boto. Sa ato pa nabayran ka na. Ayaw na pangita og performance.
Apan dili ba nga ang kwarta nga ilang gigamit sa pagpalit sa boto kinawkaw ra man gihapon sa pundo sa gobierno? Buhis ra gihapon sa katawhan. Mibati kitag utang kabubot-on sa mga politiko nga mitabang kanato, pero ang kwarta nga ilang gigamit gikan ra gihapon sa buhis nga atong gibayad. Mas daku pa man gani ang mipaingon sa ilang bulsa kay sa ilang gigamit paghaylo sa atong suporta.
Aduna pa bay paglaum aron mahaw-as kita gikan sa kuko niining mga mapahimuslanong politiko? Makabaton pa kaha kita og mga lider nga gahunahuna sa kaayohan sa kinabag-an? Gihagit namo ang tanan sa pagpamalandong sa dili pa mopili kon kinsa ang botohan karong Mayo 10, 2010. Tubaga kining mga mosunod nga pangutana isip gabayan sa pagpili:
1. Kon kini nga politiko nakahupot na og posisyon, unsa man ang iyang nahimo? Hapsay ba ang pamaagi o sistema sa iyang administrasyon? Migamit ba siya sa gahom o koneksyon aron maka pabor ang iyang negosyo (e.g. BW resources stock trading o C5 road funding)? Giipit ba ang mga negosyo sa kontra partido ug naghatag og pabor ngadto sa mga malakas?
2. Kini nga lider aduna bay “political will”? Sa atong pinulongan adunay bay “bayag” nga mapatuman ang balaod sa walay pagpihig. Nagpabuta-buta ra ba kini sa mga kalapasan sa iyang mga kauban sa partido (e.g. armas sa mga Ampatuan)? Hapsay ba ang dagan sa trapiko o nagtugot ba nga bisan asa lang muhonong ang mga sakyanan, o mopiyong lang sa mga paglapas sa mga balaod trapiko?
3. Pabor ba kini nga politiko sa mga lihok nga maghatag og ekonomikanhong kusog sa kinabag-an? Pananglitan, pabor ba kini nga politiko nga himoong kooperatiba ang sistema sa panubig o water district sa inyong dapit? O supak ba siya kay mawad-an na unya siya og milking cow ug kaloklokang posisyon sa iyang mga bata-bata?
4. Nangita ba siya og pamaagi nga makadani og mga negosyo nga mapundar sa atong lugar aron makabaton og trabaho ang katawhan? O naninguha ba hinoun siya nga kilkilan ang kinsa man nga negosyante nga musolod sa iyang teritoryo? (e.g. Hanjin shipbuilding project.)
5. Nagtuo ba kini nga lider nga siya lang ug ang iyang pamilya ang may katakus ug katungod nga mohupot sa renda sa pangagamhanan (practitioner of political dynasty)? Kini nga mga klase sa politiko hakog sa gahom ug mao ray gilantaw ang pagpatambok sa ilang bulsa kon anaa na sa gahom.
6. Migasto ba og daku kini nga politiko sa iyang kampanya? Kinsa man karon sa mga milansad ang mipabaha sa propaganda diha sa radyo o telebisyon? Wala ba kamo makabantay nga adunay midagan karon sa pagka presidente nga sobra na sa tuig ang pagpangampanya? Ug karon nga haduol na ang eleksyon, mipabaha pa gayod sa walay bahar-bahar sa iyang propaganda. Pangutana: kon makadaug kini nga kandidato, ayaw ingna nga dili niya bawi-on ang daku niyang gasto diha sa mga transaksyon nga pabor sa iyang negosyo. Congressman o senador pa lang gani mikabat na man sa P 6.2 bilyones ang balor sa proyekto sa gobierno nga mibenipisyo sa iyang negosyo.
Ang pagbotar usa ka sagrado nga katungod. Gamita kini uban sa husto nga pagpamalandong. Ayaw ibugti kining sagrado nga katungod sa pipila lang ka pesos. Hunahunaa ang kaugmaon sa atong nasud, sa katawhang Pilipino. Huna-hunaa ang kaugmaon sa atong mga anak, ug sa ilang mga anak! (ibdaba 1/25/2010)

An Opportunity to Sow the Seeds of Change

2010-03-01T00:07:00.000+08:00

Have you ever wondered why, despite the fact that we have leaders who proclaimed that they have “Galing at Talino” or “Sipag at Tiyaga,” or are proud to claim that “Ramdam (natin) ang Kaunlaran” or that they represent the power of the grassroots, as in “Pwersa ng Masa,” this country is in worse shape than it was ten years ago?

The explanation is simple. These so called leaders will tell us what we want to hear but will do what satisfies them, e.g. bloating their pockets with jueteng money or BW stock manipulations, or enter into deals like the ZTE-NBN, fertilizer scams, or obtain onerous deals for them or the businesses of their padrinos. Screwing us is what they have been up to all these times, remembering us only come election time. These leaders believed that if they will inundate media with self-proclaimed achievements, reinforced by the pronouncements of media commentators under their pockets, we will forget what they have earlier promised us.

Democracy’s strength lies in the people making informed choices, especially in selecting who will represent them in government. We members of FICCO, as well as other Coops who support ATING KOOP Party-List, will now have a unique opportunity to actively participate in pursuing change.

COMELEC’s approval of ATING KOOP accreditation as a national sectoral Party-List offers us a chance to sow the seeds of change in our body politic. If we succeed in electing three (3) ATING-KOOP representatives in congress, we will have the venue to espouse the values we hold dear in our coops. Values such as self reliance, mutual help, unity, sacrifice, volunteerism, prudence in the use of resources and exercise of power, transparency, accountability, good governance, democratic participation, and many others are what made our coops grow and become instruments in economic and social transformation. We hope, that through ATING KOOP, the same values will also trigger the political transformation that this country needs.

Obtaining COMELEC approval was not easy, more so with the opposition of Coop NATCCO Party-List. The opposition is a sad testament to the quality of leadership of the coop movement in this country. Instead of being happy that Coops will have more representation, Coop NATCCO believed that only them should represent the aspirations of the country’s cooperatives. With the way Coop NATCCO tried to convince coops to support its cause, one cannot help but wonder if coop values can trigger transformation, or is it just another good intention being gobbled up by the prevailing political culture that entrenched transactional politics.

The next hurdle will be to obtain the votes for ATING KOOP. We are thus challenging all members of FICCO, as well as other Coops that support ATING KOOP: let us convince all our relatives, friends, co-workers and neighbors to vote for ATING-KOOP. If we want the seeds of change sowed in Congress, let us spare no effort in making sure that ATING KOOP will have the maximum three representatives.

And if success awaits us this coming May 2010, let us continue to be vigilant making sure our representatives tow the party line and will not be among those who will receive payolas in paper bags.

MABUHAY ang ATING KOOP! (ibdaba, 23 November 2009)

I will tap my circle of influence for Ating Koop

2010-03-01T00:06:00.000+08:00

We the supporters of Ating Koop Party List are neophytes. Ating Koop has no political machinery that can rival the precint level organizations of the traditional parties. It has also no pork barrel generated funds to distribute to would be supporters, in the manner an incumbent Party List group for Coops is doing.

But in lieu of a well-oiled party machinery, it has a network of well-meaning cooperatives, with value-laden cooperative leaders and members. What it lacks in logistics and political savvy is easily made up by an enthusiasm emanating from an idealistic belief that change can happen in this country if its people will have a collective change of heart. A change that will internalize the time-honored coop values of sacrifice, self-reliance, good governance, volunteerism, democratic participation, social responsibility, and prudent use of resources.

I believe in these coop values. I believe these made our coop successful and can be put to working use in a wider forum. I believe in Ating Koop.

So I will make use of my own personal “network,” tap my own circle of influence. This would include:

a) Immediate family: (parents, spouse, children, househelp)

b) Relatives: (siblings, nephews/nieces, aunts/uncles, grandchildren, and their spouses, their children, their children’s spouses, and their grandchildren)

c) In-Laws: (parents, sons/daughters and their parents and siblings, brothers/sisters and their spouses and children)

d) Friends: (co-workers and their spouses and children, and friends and their spouses, children, relatives and friends)

e) Associations, groups, clubs where I belong.

And though I may have hundreds of relatives and friends, I will focus only on those whom I actually have influence on, who would share my belief that our coop values can precipitate change in this country. I will discuss with them the merits of the Ating Koop party list. I will urge them to vote for Ating Koop.

I challenge you to do the same. Let us have the audacity to hope for and to actually work for change. (Pauline R, 27 January 2010)

DUMAGUETE CATHEDRAL CREDIT COOPERATIVE [DCCCO] VS. COMMISSIONER OF INTERNAL REVENUE

2010-02-03T12:24:00.002+08:00

Republic of the Philippines
SUPREME COURT
Manila
SECOND DIVISION

G.R. No. 182722

DUMAGUETE CATHEDRAL CREDIT COOPERATIVE [DCCCO], Represented by Felicidad L. Ruiz, its
General Manager, Petitioner,
vs.
COMMISSIONER OF INTERNAL REVENUE, Respondent.

D E C I S I O N

DEL CASTILLO, J.:
The clashing interests of the State and the taxpayers are again pitted against each other. Two basic principles, the State’s inherent power of taxation and its declared policy of fostering the creation and growth of cooperatives come into play. However, the one that embodies the spirit of the law and the true intent of the legislature prevails. This Petition for Review on Certiorari under Section 11 of Republic Act (RA) No. 9282,1 in relation to Rule 45 of the Rules of Court, seeks to set aside the December 18, 2007 Decision2 of the Court of Tax Appeals (CTA),
ordering petitioner to pay deficiency withholding taxes on interest from savings and time deposits of its members for taxable years 1999 and 2000, pursuant to Section 24(B)(1) of the National Internal Revenue Code of 1997 (NIRC), as well as the delinquency interest of 20% per annum under Section 249(C) of the same Code. It also assails the April 11, 2008 Resolution3 denying petitioner’s Motion for Reconsideration.

Factual Antecedents

Petitioner Dumaguete Cathedral Credit Cooperative (DCCCO) is a credit cooperative duly registered with and regulated by the Cooperative Development Authority (CDA).4 It was established on February 17, 19685 with the following objectives and purposes: (1) to increase the income and purchasing power of the members; (2) to pool the resources of the members by encouraging savings and promoting thrift to mobilize capital formation for development activities; and (3) to extend loans to members for provident and productive purposes.6 It has the power (1) to draw, make, accept, endorse, guarantee, execute, and issue promissory notes, mortgages, bills of exchange, drafts, warrants, certificates and all kinds of obligations and instruments in connection with and in furtherance of its business operations; and (2) to issue bonds, debentures, and other obligations; to contract indebtedness; and to secure the same with a mortgage or deed of trust, or pledge or lien on any or all of its real and personal properties.7

On November 27, 2001, the Bureau of Internal Revenue (BIR) Operations Group Deputy Commissioner, Lilian B. Hefti, issued Letters of Authority Nos. 63222 and 63223, authorizing BIR Officers Tomas Rambuyon and Tarcisio Cubillan of Revenue Region No. 12, Bacolod City, to examine petitioner’s books of accounts and other accounting records for all internal revenue taxes for the taxable years 1999 and 2000.8

Proceedings before the BIR Regional Office

On June 26, 2002, petitioner received two Pre-Assessment Notices for deficiency withholding taxes for taxable years 1999 and 2000 which were protested by petitioner on July 23, 2002.9 Thereafter, on October 16, 2002, petitioner received two other Pre-Assessment Notices for deficiency withholding taxes also for taxable years 1999 and 2000.10 The deficiency withholding taxes cover the payments of the honorarium of the Board of Directors, security and janitorial services, legal and professional fees, and interest on savings and time deposits of its
members.

On October 22, 2002, petitioner informed BIR Regional Director Sonia L. Flores that it would only pay the deficiency withholding taxes corresponding to the honorarium of the Board of Directors, security and janitorial services, legal and professional fees for the year 1999 in the amount of P87,977.86, excluding penalties and interest.11

In another letter dated November 8, 2002, petitioner also informed the BIR Assistant Regional Director, Rogelio B. Zambarrano, that it would pay the withholding taxes due on the honorarium and per diems of the Board of Directors, security and janitorial services, commissions and legal & professional fees for the year 2000 in the amount of P119,889.37, excluding penalties and interest, and that it would avail of the Voluntary Assessment and Abatement Program (VAAP) of the BIR under Revenue Regulations No. 17-2002.12

On November 29, 2002, petitioner availed of the VAAP and paid the amounts of P105,574.62 and P143,867.2413 corresponding to the withholding taxes on the payments for the compensation, honorarium of the Board of Directors, security and janitorial services, and legal and professional services, for the years 1999 and 2000, respectively.

On April 24, 2003, petitioner received from the BIR Regional Director, Sonia L. Flores, Letters of Demand Nos. 00027-2003 and 00026-2003, with attached Transcripts of Assessment and Audit Results/Assessment Notices, ordering petitioner to pay the deficiency withholding taxes, inclusive of penalties, for the years 1999 and 2000 in the amounts of P1,489,065.30 and P1,462,644.90, respectively.14

Proceedings before the Commissioner of Internal Revenue

On May 9, 2003, petitioner protested the Letters of Demand and Assessment Notices with the Commissioner ofInternal Revenue (CIR).15 However, the latter failed to act on the protest within the prescribed 180-day period.
Hence, on December 3, 2003, petitioner filed a Petition for Review before the CTA, docketed as C.T.A. Case No.6827.16

Proceedings before the CTA First Division

The case was raffled to the First Division of the CTA which rendered its Decision on February 6, 2007, disposing of the case in this wise:

IN VIEW OF ALL THE FOREGOING, the Petition for Review is hereby PARTIALLY GRANTED. Assessment Notice Nos. 00026-2003 and 00027-2003 are hereby MODIFIED and the assessment for deficiency withholding taxes on the honorarium and per diems of petitioner’s Board of Directors, security and janitorial services, commissions and legal and professional fees are hereby CANCELLED. However, the assessments for deficiency withholding taxes
on interests are hereby AFFIRMED.

Accordingly, petitioner is ORDERED TO PAY the respondent the respective amounts of P1,280,145.89 and P1,357,881.14 representing deficiency withholding taxes on interests from savings and time deposits of its members for the taxable years 1999 and 2000. In addition, petitioner is ordered to pay the 20% delinquency interest from May 26, 2003 until the amount of deficiency withholding taxes are fully paid pursuant to Section 249 (C) of the Tax Code.

SO ORDERED.17

Dissatisfied, petitioner moved for a partial reconsideration, but it was denied by the First Division in its Resolution
dated May 29, 2007.18

Proceedings before the CTA En Banc

On July 3, 2007, petitioner filed a Petition for Review with the CTA En Banc,19 interposing the lone issue of whether or not petitioner is liable to pay the deficiency withholding taxes on interest from savings and time deposits of its members for taxable years 1999 and 2000, and the consequent delinquency interest of 20% per annum.20

Finding no reversible error in the Decision dated February 6, 2007 and the Resolution dated May 29, 2007 of the CTA First Division, the CTA En Banc denied the Petition for Review21 as well as petitioner’s Motion for Reconsideration.22

The CTA En Banc held that Section 57 of the NIRC requires the withholding of tax at source. Pursuant thereto, Revenue Regulations No. 2-98 was issued enumerating the income payments subject to final withholding tax, among which is "interest from any peso bank deposit and yield, or any other monetary benefit from deposit substitutes and from trust funds and similar arrangements x x x". According to the CTA En Banc, petitioner’s business falls under the phrase "similar arrangements;" as such, it should have withheld the corresponding 20%

Issue

Hence, the present recourse, where petitioner raises the issue of whether or not it is liable to pay the deficiency withholding taxes on interest from savings and time deposits of its members for the taxable years 1999 and 2000, as well as the delinquency interest of 20% per annum.

Petitioner’s Arguments

Petitioner argues that Section 24(B)(1) of the NIRC which reads in part, to wit:
SECTION 24. Income Tax Rates. —
x x x x
(B) Rate of Tax on Certain Passive Income: —
(1) Interests, Royalties, Prizes, and Other Winnings. — A final tax at the rate of twenty percent (20%) is hereby imposed upon the amount of interest from any currency bank deposit and yield or any other monetary benefit from deposit substitutes and from trust funds and similar arrangements; x x x

applies only to banks and not to cooperatives, since the phrase "similar arrangements" is preceded by terms referring to banking transactions that have deposit peculiarities. Petitioner thus posits that the savings and time deposits of members of cooperatives are not included in the enumeration, and thus not subject to the 20% final tax. To bolster its position, petitioner cites BIR Ruling No. 551-88823 and BIR Ruling [DA-591-2006]24 where the BIR ruled that interests from deposits maintained by members of cooperative are not subject to withholding tax
under Section 24(B)(1) of the NIRC. Petitioner further contends that pursuant to Article XII, Section 15 of the Constitution25 and Article 2 of Republic Act No. 6938 (RA 6938) or the Cooperative Code of the Philippines,26 cooperatives enjoy a preferential tax treatment which exempts their members from the application of Section 24(B)(1) of the NIRC.

Respondent’s Arguments

As a counter-argument, respondent invokes the legal maxim "Ubi lex non distinguit nec nos distinguere debemos" (where the law does not distinguish, the courts should not distinguish). Respondent maintains that Section 24(B)(1) of the NIRC applies to cooperatives as the phrase "similar arrangements" is not limited to banks, but includes cooperatives that are depositaries of their members. Regarding the exemption relied upon by petitioner, respondent adverts to the jurisprudential rule that tax exemptions are highly disfavored and construed strictissimi
juris against the taxpayer and liberally in favor of the taxing power. In this connection, respondent likewise points out that the deficiency tax assessments were issued against petitioner not as a taxpayer but as a withholding agent.

Our Ruling

The petition has merit.

Petitioner’s invocation of BIR Ruling No. 551-888, reiterated in BIR Ruling [DA-591-2006], is proper. On November 16, 1988, the BIR declared in BIR Ruling No. 551-888 that cooperatives are not required to withhold taxes on interest from savings and time deposits of their members. The pertinent BIR Ruling reads:

November 16, 1988

BIR RULING NO. 551-888
24 369-88 551-888

Gentlemen:

This refers to your letter dated September 5, 1988 stating that you are a corporation established
under P.D. No. 175 and duly registered with the Bureau of Cooperatives Development as full fledged cooperative of good standing with Certificate of Registration No. FF 563-RR dated August 8, 1985; and that one of your objectives is to provide and strengthen cooperative endeavor and extend assistance to members and non-members through credit scheme both in cash and in kind.

Based on the foregoing representations, you now request in effect a ruling as to whether or not you are exempt from the following:
1. Payment of sales tax

2. Filing and payment of income tax
3. Withholding taxes from compensation of employees and savings account and time deposits
of members. (Underscoring ours)

In reply, please be informed that Executive Order No. 93 which took effect on March 10, 1987
withdrew all tax exemptions and preferential privileges e.g., income tax and sales tax, granted to
cooperatives under P.D. No. 175 which were previously withdrawn by P.D. No. 1955 effective October 15, 1984 and restored by P.D. No. 2008 effective January 8, 1986. However, implementation of said Executive Order insofar as electric, agricultural, irrigation and waterworks cooperatives are concerned was suspended until June 30, 1987. (Memorandum Order No. 65 dated January 21, 1987 of the President) Accordingly, your tax exemption privilege expired as of June 30, 1987. Such being the case, you are now subject to income and sales taxes.

Moreover, under Section 72(a) of the Tax Code, as amended, every employer making payment of wages shall deduct and withhold upon such wages a tax at the rates prescribed by Section 21(a) in relation to section 71, Chapter X, Title II, of the same Code as amended by Batas Pambansa Blg. 135 and implemented by Revenue Regulations No. 6-82 as amended. Accordingly, as an employer you are required to withhold the corresponding tax due from the compensation of your employees.

Furthermore, under Section 50(a) of the Tax Code, as amended, the tax imposed or prescribed by Section 21(c) of the same Code on specified items of income shall be withheld by payor-corporation and/or person and paid in the same manner and subject to the same conditions as provided in Section 51 of the Tax Code, as amended. Such being the case, and since interest from any Philippine currency bank deposit and yield or any other monetary benefit from deposit substitutes are paid by banks, you are not the party required to withhold the corresponding tax on the aforesaid savingsaccount and time deposits of your members. (Underscoring ours)

Very truly yours,

(SGD.) BIENVENIDO A. TAN, JR.
Commissioner

The CTA First Division, however, disregarded the above quoted ruling in determining whether petitioner is liable to pay the deficiency withholding taxes on interest from the deposits of its members. It ratiocinated in this wise:
This Court does not agree. As correctly pointed out by respondent in his Memorandum, nothing in the above quoted resolution will give the conclusion that savings account and time deposits of members of a cooperative are tax-exempt. What is entirely clear is the opinion of the Commissioner that the proper party to withhold the corresponding taxes on certain specified items of income is the payor-corporation and/or person. In the same way,
in the case of interests earned from Philippine currency deposits made in a bank, then it is the bank which is liable to withhold the corresponding taxes considering that the bank is the payor-corporation. Thus, the ruling that a cooperative is not the proper party to withhold the corresponding taxes on the aforementioned accounts is correct.

However, this ruling does not hold true if the savings and time deposits are being maintained in the cooperative, for in this case, it is the cooperative which becomes the payor-corporation, a separate entity acting no more than an agent of the government for the collection of taxes, liable to withhold the corresponding taxes on the interests earned. 27 (Underscoring ours)

The CTA En Banc affirmed the above-quoted Decision and found petitioner’s invocation of BIR Ruling No. 551-88 misplaced. According to the CTA En Banc, the BIR Ruling was based on the premise that the savings and time deposits were placed by the members of the cooperative in the bank.28 Consequently, it ruled that the BIR Ruling does not apply when the deposits are maintained in the cooperative such as the instant case.

We disagree.

There is nothing in the ruling to suggest that it applies only when deposits are maintained in a bank. Rather, the ruling clearly states, without any qualification, that since interest from any Philippine currency bank deposit and yield or any other monetary benefit from deposit substitutes are paid by banks, cooperatives are not required to withhold the corresponding tax on the interest from savings and time deposits of their members. This interpretation
was reiterated in BIR Ruling [DA-591-2006] dated October 5, 2006, which was issued by Assistant Commissioner James H. Roldan upon the request of the cooperatives for a confirmatory ruling on several issues, among which is the alleged exemption of interest income on members’ deposit (over and above the share capital holdings) from the 20% final withholding tax. In the said ruling, the BIR opined that:
x x x x
3. Exemption of interest income on members’ deposit (over and above the share capital holdings) from the 20%

Final Withholding Tax.
The National Internal Revenue Code states that a "final tax at the rate of twenty percent (20%) is hereby imposed upon the amount of interest on currency bank deposit and yield or any other monetary benefit from the deposit substitutes and from trust funds and similar arrangement x x x" for individuals under Section 24(B)(1) and for domestic corporations under Section 27(D)(1). Considering the members’ deposits with the cooperatives are not currency bank deposits nor deposit substitutes, Section 24(B)(1) and Section 27(D)(1), therefore, do not apply to
members of cooperatives and to deposits of primaries with federations, respectively.

It bears stressing that interpretations of administrative agencies in charge of enforcing a law are entitled to great weight and consideration by the courts, unless such interpretations are in a sharp conflict with the governing statute or the Constitution and other laws.29 In this case, BIR Ruling No. 551-888 and BIR Ruling [DA-591-2006] are in perfect harmony with the Constitution and the laws they seek to implement. Accordingly, the interpretation in
BIR Ruling No. 551-888 that cooperatives are not required to withhold the corresponding tax on the interest from savings and time deposits of their members, which was reiterated in BIR Ruling [DA-591-2006], applies to the instant case.
Members of cooperatives deserve a preferential tax treatment pursuant to RA 6938, as amended by RA 9520.
Given that petitioner is a credit cooperative duly registered with the Cooperative Development Authority (CDA),
Section 24(B)(1) of the NIRC must be read together with RA 6938, as amended by RA 9520.
Under Article 2 of RA 6938, as amended by RA 9520, it is a declared policy of the State to foster the creation and
growth of cooperatives as a practical vehicle for promoting self-reliance and harnessing people power towards the
attainment of economic development and social justice. Thus, to encourage the formation of cooperatives and to
create an atmosphere conducive to their growth and development, the State extends all forms of assistance to
them, one of which is providing cooperatives a preferential tax treatment.
The legislative intent to give cooperatives a preferential tax treatment is apparent in Articles 61 and 62 of RA
6938, which read:
ART. 61. Tax Treatment of Cooperatives. — Duly registered cooperatives under this Code which do not transact any business with non-members or the general public shall not be subject to any government taxes and fees imposed under the Internal Revenue Laws and other tax laws. Cooperatives not falling under this article shall be
governed by the succeeding section.
ART. 62. Tax and Other Exemptions. — Cooperatives transacting business with both members and nonmembers shall not be subject to tax on their transactions to members. Notwithstanding the provision of any law or regulation
to the contrary, such cooperatives dealing with nonmembers shall enjoy the following tax exemptions; x x x.
This exemption extends to members of cooperatives. It must be emphasized that cooperatives exist for the benefit
of their members. In fact, the primary objective of every cooperative is to provide goods and services to its members to enable them to attain increased income, savings, investments, and productivity.30 Therefore, limiting the application of the tax exemption to cooperatives would go against the very purpose of a credit cooperative.
Extending the exemption to members of cooperatives, on the other hand, would be consistent with the intent of the legislature. Thus, although the tax exemption only mentions cooperatives, this should be construed to include the
members, pursuant to Article 126 of RA 6938, which provides:
ART. 126. Interpretation and Construction. – In case of doubt as to the meaning of any provision of this Code or the regulations issued in pursuance thereof, the same shall be resolved liberally in favor of the cooperatives and their members.
We need not belabor that what is within the spirit is within the law even if it is not within the letter of the law because the spirit prevails over the letter.31 Apropos is the ruling in the case of Alonzo v. Intermediate Appellate
Court,32 to wit:
But as has also been aptly observed, we test a law by its results; and likewise, we may add, by its purposes. It is a
cardinal rule that, in seeking the meaning of the law, the first concern of the judge should be to discover in its provisions the intent of the lawmaker. Unquestionably, the law should never be interpreted in such a way as to cause injustice as this is never within the legislative intent. An indispensable part of that intent, in fact, for we presume the good motives of the legislature, is to render justice.1 a v v p h i1

Thus, we interpret and apply the law not independently of but in consonance with justice. Law and justice are inseparable, and we must keep them so. To be sure, there are some laws that, while generally valid, may seem arbitrary when applied in a particular case because of its peculiar circumstances. In such a situation, we are not bound, because only of our nature and functions, to apply them just the same, [is] slavish obedience to their language. What we do instead is find a balance between the word and the will, that justice may be done even as the law is obeyed.

As judges, we are not automatons. We do not and must not unfeelingly apply the law as it is worded, yielding like robots to the literal command without regard to its cause and consequence. "Courts are apt to err by sticking too closely to the words of a law," so we are warned, by Justice Holmes again, "where these words import a policy that goes beyond them." While we admittedly may not legislate, we nevertheless have the power to interpret the law in such a way as to reflect the will of the legislature. While we may not read into the law a purpose that is not there,
we nevertheless have the right to read out of it the reason for its enactment. In doing so, we defer not to "the letter that killeth" but to "the spirit that vivifieth," to give effect to the lawmaker’s will.

The spirit, rather than the letter of a statute determines its construction, hence, a statute must be read according to its spirit or intent. For what is within the spirit is within the statute although it is not within the letter thereof, and that which is within the letter but not within the spirit is not within the statute. Stated differently, a thing which is within the intent of the lawmaker is as much within the statute as if within the letter; and a thing which is within the
letter of the statute is not within the statute unless within the intent of the lawmakers. (Underscoring ours)

It is also worthy to note that the tax exemption in RA 6938 was retained in RA 9520. The only difference is that Article 61 of RA 9520 (formerly Section 62 of RA 6938) now expressly states that transactions of members with the cooperatives are not subject to any taxes and fees. Thus:
ART. 61. Tax and Other Exemptions. Cooperatives transacting business with both members and non-members shall not be subjected to tax on their transactions with members. In relation to this, the transactions of members with the cooperative shall not be subject to any taxes and fees, including but not limited to final taxes on members’ deposits and documentary tax.

Notwithstanding the provisions of any law or regulation to the contrary, such cooperatives dealing with nonmembers shall enjoy the following tax exemptions: (Underscoring ours)
x x x x
This amendment in Article 61 of RA 9520, specifically providing that members of cooperatives are not subject to final taxes on their deposits, affirms the interpretation of the BIR that Section 24(B)(1) of the NIRC does not apply to cooperatives and confirms that such ruling carries out the legislative intent. Under the principle of legislative approval of administrative interpretation by reenactment, the reenactment of a statute substantially unchanged is persuasive indication of the adoption by Congress of a prior executive construction.33

Moreover, no less than our Constitution guarantees the protection of cooperatives. Section 15, Article XII of the Constitution considers cooperatives as instruments for social justice and economic development. At the same time, Section 10 of Article II of the Constitution declares that it is a policy of the State to promote social justice in all phases of national development. In relation thereto, Section 2 of Article XIII of the Constitution states that the promotion of social justice shall include the commitment to create economic opportunities based on freedom of
initiative and self-reliance. Bearing in mind the foregoing provisions, we find that an interpretation exempting the members of cooperatives from the imposition of the final tax under Section 24(B)(1) of the NIRC is more in keeping with the letter and spirit of our Constitution.

All told, we hold that petitioner is not liable to pay the assessed deficiency withholding taxes on interest from the savings and time deposits of its members, as well as the delinquency interest of 20% per annum.

In closing, cooperatives, including their members, deserve a preferential tax treatment because of the vital role they play in the attainment of economic development and social justice. Thus, although taxes are the lifeblood of the government, the State’s power to tax must give way to foster the creation and growth of cooperatives. To borrow the words of Justice Isagani A. Cruz: "The power of taxation, while indispensable, is not absolute and may be subordinated to the demands of social justice."34

WHEREFORE, the Petition is hereby GRANTED. The assailed December 18, 2007 Decision of the Court of Tax Appeals and the April 11, 2008 Resolution are REVERSED and SET ASIDE. Accordingly, the assessments for deficiency withholding taxes on interest from the savings and time deposits of petitioner’s members for the taxable years 1999 and 2000 as well as the delinquency interest of 20% per annum are hereby CANCELLED.

SO ORDERED.
MARIANO C. DEL CASTILLO
Associate Justice
WE CONCUR:
ANTONIO T. CARPIO
Associate Justice

Chairperson
ARTURO D. BRION
Associate Justice
ROBERTO A. ABAD
Associate Justice
JOSE P. PEREZ
Associate Justice

A T T E S T A T I O N

I attest that the conclusions in the above Decision had been reached in consultation before the case was assigned
to the writer of the opinion of the Court’s Division.

ANTONIO T. CARPIO
Associate Justice
Chairperson, Second Division

C E R T I F I C A T I O N
Pursuant to Section 13, Article VIII of the Constitution, and the Division Chairperson’s attestation, it is hereby
certified that the conclusions in the above Decision had been reached in consultation before the case was
assigned to the writer of the opinion of the Court’s Division.
REYNATO S. PUNO
Chief Justice
Footnotes
1 An Act Expanding the Jurisdiction of the Court of Tax Appeals (CTA), Elevating its Rank to the Level of a Collegiate Court with Special Jurisdiction and Enlarging its Membership, Amending for the Purpose Certain Sections of Republic Act No. 1125, As Amended, otherwise known as the Law Creating the Court of Tax Appeals, and for Other Purposes.

2 Rollo, pp. 45-64; penned by Associate Justice Olga Palanca-Enriquez and concurred in by Presiding Justice Ernesto D. Acosta and Associate Justices Juanito C. Castañeda, Jr., Lovell R. Bautista, Erlinda P. Uy and Caesar A. Casanova.
3 Id. at 80-81.
4 Id. at 47.
5 Id. at 7.
6 Id. at 57.
7 Id.
8 Id. at 118.
9 Id. at 48.
10 Id.
11 Id. at 48-49.
12 Id. at 49.
13 Id. at 49-50.
14 Id. at 50-51.
15 Id. at 51.

Id.
17 Id. at 46-47.
18 Id. at 51.
19 Id. at 11.
20 Id. at 52.
21 Id. at 63.
22 Id. at 80-81.
23 Id. at 18-19.
24 Id. at 75-78.
25 SEC. 15. The Congress shall create an agency to promote the viability and growth of cooperatives as instruments for social justice and economic development.
26 ART. 2. Declaration of Policy.- It is the declared policy of the State to foster the creation and growth of cooperatives as a practical vehicle for promoting self-reliance and harnessing people power towards the attainment of economic development and social justice. The State shall encourage the private sector to undertake the actual formation and organization of cooperatives and shall create an atmosphere that is conducive to the growth and development of these cooperatives.
Toward this end, the Government and all its branches, subdivisions, instrumentalities and agencies shall ensure the provision of technical guidance, financial assistance and other services to enable said cooperatives to develop into viable and responsive economic enterprises and thereby bring about a strong cooperative movement that is free from any conditions that might infringe upon the autonomy or organizational integrity of cooperatives.

Further, the State recognizes the principle of subsidiarity under which the cooperative sector will
initiate and regulate within its own ranks the promotion and organization, training and research, audit and support services relative to cooperatives with government assistance where necessary.
(Now amended by Republic Act No. 9520 or the Philippine Cooperative Code of 2008.)
27 Rollo, pp. 62-63.
28 Id. at 62.
29 Nestle Philippines, Inc. v. Court of Appeals, G.R. No. 86738, November 13, 1991, 203 SCRA 504, 510.
30 Republic act No. 6938, Article 7.
31 Tañada and Macapagal v. Cuenco, et al., 103 Phil. 1051, 1086 (1957).
32 234 Phil. 267, 272-273 (1987).
33 Commissioner of Internal Revenue v. American Express International, Inc. (Philippine Branch), 500 Phil.
586 (2005).
34 Dissenting Opinion of Justice Isagani A. Cruz in Republic of the Philippines v. Judge Peralta, 234 Phil. 40,
59 (1987).

An Opportunity to Sow the Seeds of Change

2010-01-11T11:10:00.002+08:00

By: Isagani B. Daba (FICCO BOD Chairman)

Have you ever wondered why, despite the fact that we have leaders who proclaimed that they have “Galing at Talino” or “Sipag at Tiyaga,” or are proud to claim that “Ramdam (natin) ang Kaunlaran” or that they represent the power of the grassroots, as in “Puersa ng Masa,” this country is in worse shape than it was ten years ago?

The explanation is simple. These so called leaders will tell us what we want to hear but will do what satisfies them, e.g. bloating their pockets with jueteng money or BW stock manipulations, or enter into deals like the ZTE-NBN, fertilizer scams, or obtain onerous deals for them or the businesses of their padrinos. Screwing us is what they have been up to all these times, remembering us only come election time. These leaders believed that if they will inundate media with self-proclaimed achievements, reinforced by the pronouncements of media commentators under their pockets, we will forget what they have earlier promised us.

Democracy’s strength lies in the people making informed choices, especially in selecting who will represent them in government. We members of FICCO, as well as other Coops who support ATING KOOP Party-List, will now have a unique opportunity to actively participate in pursuing change.

COMELEC’s approval of ATING KOOP accreditation as a national sectoral Party-List offers us a chance to sow the seeds of change in our body politic. If we succeed in electing three (3) ATING-KOOP representatives in congress, we will have the venue to espouse the values we hold dear in our coops. Values such as self reliance, mutual help, unity, sacrifice, volunteerism, prudence in the use of resources and exercise of power, transparency, accountability, good governance, democratic participation, and many others are what made our coops grow and become instruments in economic and social transformation. We hope, that through ATING KOOP, the same values will also trigger the political transformation that this country needs.

Obtaining COMELEC approval was not easy, more so with the opposition of Coop NATCCO Party-List. The opposition is a sad testament to the quality of leadership of the coop movement in this country. Instead of being happy that Coops will have more representation, Coop NATCCO believed that only them should represent the aspirations of the country’s cooperatives. With the way Coop NATCCO tried to convince coops to support its cause, one cannot help but wonder if coop values can trigger transformation, or is it just another good intention being gobbled up by the prevailing political culture that entrenched transactional politics.

The next hurdle will be to obtain the votes for ATING KOOP. We are thus challenging all members of FICCO, as well as other Coops that support ATING KOOP: let us convince all our relatives, friends, co-workers and neighbors to vote for ATING-KOOP. If we want the seeds of change sowed in Congress, let us spare no effort in making sure that ATING KOOP will have the maximum three representatives.

And if success awaits us this coming May 2010, let us continue to be vigilant making sure our representatives tow the party line and will not be among those who will receive payolas in paper bags.

MABUHAY ang ATING KOOP!

An Opportunity to Sow the Seeds of Change

2010-01-11T11:10:00.000+08:00

Another First: FMDC Merges With FICCO

2010-01-11T11:05:00.001+08:00

By: Isagani B. Daba (FICCO BOD Chairman)

The Filipino Merchants Development Cooperative (FMDC) of Bankerohan finally found an able partner in FICCO – this, after two failed attempts to join forces with other coops in Davao City.

In a simple signing ceremony held at the Vanda function room of Apo View Hotel last 24 November 2009, FMDC and FICCO formalized the merger by signing a Merger Agreement in the presence of CDA Region 11 Director, Ms. Elma Oguis, who was invited as the guest of honor.

FICCO Chairman Isagani Daba signed the agreement on behalf of the largest community cooperative in the country, while Chairman Leonardo Lapuz represented FMDC. Signing as witnesses were CDA Dir. Oguis, FICCO CEO Vicente Rana and FMDC Manager Romeo Lacuna. Also present during the ceremony were FICCO Directors Jake Cornito and Arturo Aldamia, FICCO Regional Manager Elmo Bautista, and FICCO Davao Branch Manager Ellen Dizon.

The following FMDC officers were also on hand to witness the historic occasion: Vice Chair Efren Balatico and BOD members Julieta Mendros, Elsa Lofranco, and Samson de la Cruz.

Mr. Daba told the group that FICCO is also presently involved in the effort of consolidating three coop banks: the Coop Bank of Davao del Sur, the Coop Bank of Surigao del Sur, and the Misamis Occidental Coop Bank. He then explained that in a consolidation, all the participating entities will cease to exist while a new entity will emerge. In a merger, one of the participating entities will remain and will be the surviving company or cooperative. The others will cease operations.

FMDC will bring to the union its 1,000 members and P 30.0 million resources. This will increase FICCO’s assets to P 3.5 billion and membership to over 130,000.

FMDC’s membership welcomed the merger as an infusion of new life and hope to their coop that experienced financial difficulties in the last few years. FICCO’s proven management capability, visionary approach, financial muscle, and time-tested culture will all be drawn upon in turning around FMDC’s operations.

The merger is a first for FICCO, the first in Mindanao, and probably the first among credit coops in the country. This again proves FICCO’s pioneering spirit, helping a weak cooperative while at the same time working to achieve its vision of having a united and stronger coop movement. It is hoped that this move will inspire more mergers and consolidations among coops in the country.

"ATING–KOOP PARTY LIST APPROVED"

2010-01-11T11:03:00.000+08:00

by: Atty. Proculo Sarmen

Finally, the COMELEC approved the application for the registration of the ATING-KOOP Party List to become one of the partylist vying for a congressional seat in the Party List System of Representation of the 15th Congress this coming May 2010 National Election. The First Division of the COMELEC in its 12-page Resolution SPP No. 09-030 (PL), dated November 13, 2009, unanimously granted the petition and approved the Adhikaing Tinataguyod ng Kooperatiba (Ating-Koop) Party List as a national sectoral organization that represents cooperative sector and its members, majority of whom form part of the marginalized and underrepresented sectors of the society. Thus, paving the advocacy of the ATING-KOOP Party List for good governance and genuine reforms in the enactment of laws, rules and regulations that are reflective and representative of the true spirit of cooperativism.

It must be recalled that the petition for the registration of the ATING-KOOP Party List has met strong opposition coming from other party list that represents also the sector of the cooperative. However, the voluminous evidence submitted by the ATING-KOOP Party List has convinced the COMELEC of the party list’s track record in the cultivation of the cooperative movement. The Verification Reports submitted by the COMELEC’s Field Officials has proved that ATING-KOOP Party List is present in majority of regions of the country, lending credence to its ability to wage a legitimate campaign. Hence, the COMELEC found no reason why ATING-KOOP Party List would not be able to contribute to the formulation and enactment of appropriate legislation that will benefit the nation as whole.

With the ATING-KOOP Party List advocacies of: creation of a large middle class through cooperatives and social entrepreneurship; sustainable development aimed at eradicating poverty and unjust social structures, preserving the environment, and equitable distribution of wealth through people empowerment; democratic participation by the grassroots under the principle of subsidiarity and mutual interdependence; respect for our diverse culture and religions; and, peace and harmony as the foundation of development, the uphill battle now begins.

With the coming of May 2010 National Election, the ATING-KOOP National Committee is calling all the members of the FICCO and PFCCO family, as well as other cooperative who share the same values and advocacies of ATING-KOOP to go out and vote ATING-KOOP Party List in our ballots. Our combined votes can greatly spell the difference of our dream of good governance and genuine reforms in the enactment of laws, rules and regulations that are reflective and representative of the true spirit of cooperativism.

Mabuhay and ATING-KOOP Party List!

COMELEC Approves Ating Koop (Junks Opposition of Coop NATCCO Partylist)

2010-01-11T10:42:00.003+08:00

“Verily, we find no reason why ATING KOOP would not be able to contribute to the formulation and enactment of appropriate legislation that will benefit the country as a whole.” With this words, the First Division of the Commission on Elections in its “Resolution” dated November 13, 2009, unanimously approved Ating Koop’s Petition for Registration and Accreditation as a Sectoral Organization in the Party-List System of Representation for the May 10,2010 elections.

The 12-page “Resolution” of the Commission on Elections sustained and upheld the contention of ATING KOOP that it truly represents the cooperative sector. The First Division cited the “voluminous evidence submitted” by ATING KOOP which “convinced” the Commission of “its track record in the cultivation of the cooperative movement”. Moreover, the Commission mentioned that the “field verification reports submitted by the Field Offices prove that ATING KOOP is present in a majority of the region of the country, lending credence to its ability to wage a legitimate campaign.”

Moreover, the “Resolution” dated November 13,2009 dismissed and junked as without merit the opposition filed by the COOP-NATCO Party-List, an incumbent member of the House of Representatives, who argued that Ating Koop’s petition for accreditation should be “denied” for being, among others, “redundant as there are already existing party-list organizations representing cooperatives in Congress ” and that it was “organized by a religious group.”

The COMELEC’s accreditation and registration of ATING-KOOP as a bona-fide Party-List candidate in the May 10,2010 elections was celebrated by its members across the country, from Baguio City, considered the birthplace of the party-list group to the Autonomous Region of Muslim Mindanao, where it counts as one of its chapters the Nurjihada MNLF Women’s Multi-purpose Cooperative. It also invigorated and renewed hope in the integrity of the electoral system as the accreditation of the Party-List was anchored on its full compliance with the requirements of the law under Republic Act No. 7941, otherwise known as the “Party-List System Act” and the members’ collective faith in Divine Providence that “truth and justice shall prevail.”

However, the accreditation of ATING KOOP as a party-list Candidate in the May 10, 2010 elections is but the start; the task ahead is for the sectoral organization and its members, both present and future, to work hard to ensure that it will secure maximum representation in the 15th Congress.

The ATING KOOP National Committee, in a clarion call throughout the Philippines, urges its members to stand up and take a very active role in our historic participation in the country’s political arena. The preparedness and readiness of all of ATING KOOP’s Regional, Provincial, City and Municipal Chapters, and our faith in God shall therefore be the key to our victory in May 10, 2010. As optly said by our Chairman, Father Mar Arenas, “blessed are those who work for peace, and the new name for peace, in the words of Pope John Paul II, is “development. Supporting Ating Koop is therefore supporting the people’s development through cooperatives”!

Mabuhay ang Ating Koop! Mabuhay ang Pilipinas!

FICCO EdCom Forum

2010-01-11T10:33:00.005+08:00

This images taken during last Saturday's Jan 9, EdCom Forum held at Xavier University High School Gym.

From Amadeo V. Neri - A FICCO Member

2009-12-02T13:30:00.001+08:00

*******************************

Having read through the latest FICCO Newsletter, it can only by inspiring going through the lead article with its articulation of its clear and unmistakable twin messages. That this union can continue to grow only through its membership; and that these continuing hard times require extraordinary measures and efforts from both the organization’s hierarchy and the general membership.

Though implied but not expressly mentioned, one could also take pride in where real strength and stability lie in the organization – in the collective membership where individually, one member on average accounts only for 23,347 pesos in deposit. Meaning therefore that ownership and stakeholding are well distributed among the many members of the union, rather than ensconced in a small elite group accounting for a great majority of the ownership.

Having been a longstanding member through all these many years, one is also heartened by the two graph insets, tracing the growth of membership and total assets. When I left the city in 1980, indeed total membership counted in the single thousand, and assets were mostly in loans and cash in bank. But look at the very big and diverse picture now!

Truly this credit union is where many dispossessed people, people unable to be properly serviced by mainstream financial institutions, can go to seek relief for their many and multifaceted credit needs, rather than to the informal underground institutions which cater and prey on a people weakened by stubborn ignorance and very emaciated economic conditions.

It is an organization that will also aside from providing credit, teach one how to secure and manage debt, and to build a good credit record and history.

But beyond that, it is also the organization where one can truly learn to manage one’s family and business finances – in the areas of saving for the future, saving for business expansion, etc.

In short, it teaches the entire panoply of good and sound personal finance, which is the only basis for hoping and building for a better future, especially in a land filled with asset- and cash-strapped families.

It is therefore quite a damper listening to some current and prospective members recount their initial dealings with FICCO employees where emphasis is placed too much on first building a good credit history to aim for that Class A label. Thus, the recommendation is for members to start borrowing early even before being able to build a good deposit history, so they can become proud Class A members quickly.

Imagine for a moment what kind of a credit union it would be if the driving motive for becoming a member is so one can borrow, typically an amount way beyond what one has put in deposit?

The union would quickly run out of funds to lend, since loanable funds come essentially from members’ deposits.

For a union to continue to prosper there has to be a very delicate balance between those who borrow because they need to, and those who will deposit so they can build for their future and/or in anticipation of some future needs that will be financed or collateralized by their accumulated deposits.

There has to be enough numbers of the second kind, so that the union can continue to have sufficient funds to lend to those truly in need of credit.

In balance therefore, it should be easy to see why both kinds of members are exemplary members, and not that one is rated better than the other. Consider their symbiotic relationship, one cannot live without the other.

In fine, this is the simple and pure logic why financial institutions exist and survive. They pool the community’s savings which in turn will be lent out to those with legitimate needs but lack enough savings to profitably finance them.

All can be member depositors all the time, but not all can be member lenders all the time.

Think about that.

Amadeo V. Neri
FICCO member

*******************************

Hi, Toti:

Is there any way the comments attached below can be electronically fowarded to the staff of the FICCO Newsletter. I cannot find any FICCO site in the Internet that will allow email comments. Thanks for any help.

Day of INFAMY in the Philippines

2009-12-02T13:27:00.000+08:00

By Jun Mercado, OMI

November 23rd is now etched in the history of the province as the day of shameless ignominy. On that day, a convoy of the women folks of the Mangudadatu clan accompanied by media people and their women lawyers on their way to the Capitol of the Province in Sharif Aguak municipality was stopped by PNP forces with hundreds of armed civilian volunteer organizations (under the command of the PNP) along the national highway in Ampatuan municipality. The convoy was directed to take the farm road leading to a deep hole meant to be the mass grave of the entire members of the convoy and also the other vehicles that happened to follow the convoy.

I am beginning to piece the story of the tragic massacre. It all began about three weeks ago with a COMELEC Resolution directing the transfer of the COMELEC Satellite Office from Cotabato City to the Provincial Capitol in Maguindanao. Then another resolution came directing all candidates in the province to file their certificates of candidacy at the provincial `capitol'. These resolutions looked innocent when read and seen outside the concrete political context in the province.

Anyone in the place knows that the said resolutions follow the logic of the local politics and the control over the COMELEC on the ground. COMELEC cannot feign ignorance of these realities nor washes its hands in the ensuing massacre in Maguindanao. The concrete experiences of 2004 and 2007 elections and the participation of COMELEC in the province are too gross to ignore.

There is a reason and definitely politics in the physical shifting `capitol' sites in the province. There is a need to locate the `capitol' in a place to ensure total control. For this reason, Maguindanao can qualify to put the capitol building on wheels. It began in Cotabato City; then Datu Udtog moved it to Pagalungan; Post Datu Udtog, it was moved back to Cotabato City; then it was moved to Maganoy (Sharif Aguak); Zacaria Candao moved it back to Cotabato City; then he moved it to a new site in Sultan Kudarat. The Ampatuan moved the `capitol' back to Maganoy where it now stands.

The total control of the capitol ensures absolute control over all government machineries in the capitol site, including the COMELEC, PNP and AFP.

Months ago, the buzz in the province and in Cotabato City has been the looming political contest between the Ampatuan clan, the present unquestioned ruler of the Province and the ARMM, and the Mangudadatu clan.

Everybody in town is actually surprised by this challenge coming from the four Mangudadatu young, daring and dazzling brothers (two mayors, one vice mayor and one assemblyman of the Regional Assembly of the ARMM). The leader of the clan and the main challenger is the present Vice Mayor of Buluan, Datu Ismael `Toto' Mangudadatu.

The challenge came as a big surprise, because the Ampatuan clan is `intimately' connected to President Gloria Macapagal Arroyo and the Lakas – Kampi – CMD Party both in 2004 and 2007 national elections. The convergence of the political and electoral agenda of Pres. Arroyo and the Ampatuans is well known both in the national and local levels.

The challenge emerged when talks that the `senior' Ampatuan is no longer qualified to run as Governor of the province. The name of the `junior' Ampatuan has begun to surface as the clan bet for what they thought would be uncontested governorship in the province come May 2010.

This development sparked talks and counter-talks of contesting the governorship thus shifting political alliances, especially with the waning of the star of Malacañang and her official candidates.

The relations between President Arroyo and the Ampatuans hinged on a symbiosis of political and electoral interests and as demonstrated by the `outstanding' delivery capacity of the clan in all electoral exercises held in the province of Maguindanao.

When we speak of captive electorate, I refer to `managed' and `owned' elections. Political parties and candidates also refer to the entire ARMM as `captive' electorate. This is not a simple perception but the `actual ballot' counts' attest to this `winner take all' elections. This fact is known also to the COMELEC.

No doubt, if electoral anomalies happen, the people who manage and secure the elections are equally controlled. In most instances, the teachers and officials of the COMELEC, including the PNP have little or no choices at all. Their lives and their families, as well, are in jeopardy.

The COMELEC resolution transferring its satellite office in Sharif Aguak and the requirement to file the certificates of candidacy in the `capitol' is NOT as innocent as it looks unless COMELEC were born yesterday!

This COMELEC decision has forced the Mangudadatu to go into the heartland of the Ampatuan clan. The Vice Mayor Toto Mangudadatu decided to go and file his certificate of candidacy. But he was prevailed upon by the mother to let the women do the filing. The clan believed that Toto's presence in Aguak may lead to actual bloodshed. The mother and the religious leaders believed that an all-women delegation accompanied by media people and women lawyers would be respected. Islam strongly enjoins believers to respect women and children even during times of war.

As a double insurance for the delegation, the Mangudadatu has asked for police escorts from the PNP Provincial command. It refused to do so. Understanding the perceived partisanship of the Maguindanao PNP, the clan asked for military escort from the 601st Brigade that has an operational responsibility for area. They were told that the AFP does not give escort to politicians. . The clan appealed to the highest military command in the region for a security escort for the women. They were assured by the highest military command that the `road is safe and there will be no need to worry'.

With that assurance, the all-women delegation began the trek to Sharif Aguak. At crossing Salman along the national highway in broad daylight in Ampatuan municipality, the convoy was stopped including the other vehicles accidentally passing by that momentous time by hundreds of armed groups believed to be CVOs that included some officials of the PNP in the province and a local mayor positively identified by the Mangudadatu.

The entire convoy where led to an open pit dug by the provincial engineering equipment. There the carnage began with brutality and no mercy for women, children and the members of the media.

The last vehicle in the convoy, delayed by few minutes, saw the whole gang stopping the convoy and made positive identification. It turned back with speed and asked for help. But alas, the help came too late.

There were no survivors! The first count was 21 fatalities in the afternoon of the same day. These were the bodies left on the ground and in the vehicles because of the haste. The second day, the body count reached 46 as investigators began to dig the mass graves. On the third day, the number has reached more than 60. They were all murdered with so much brutality that can only be compared to victims of savage animals in the wild.

The digging continues and the body counts continue to rise. The Mangudadatu can only account for 40 members of their convoy. Beyond that number were innocents passersby who happened to be traveling the same road at that particular moment. These innocent passersby include children!

They buried the whole vehicles with the murdered passengers. Seemingly, the intent was to bury all the vehicles and all the victims in that big hole dug by the Provincial `backhoe'. But there was news that the troops were coming. This made the perpetrators to hurriedly leave the scene without completing their evil intent.

Today, the people of Maguindanao and Cotabato City are in total disbelief for what they are hearing over the radio as the massacre continues to unfold. They are stunned and shocked! The real word is feeling of revulsion for how things stand in the province and the community.

COMELEC has now allowed filing of candidacy in the City and in Sultan Kudarat without filing for an exception. It has also returned the satellite office in the city. COMELEC shares the blame for this massacre. Ignorance can never be an excuse! It is a very costly political decision!

Knowing the close tie between the President Arroyo and the Ampatuan, the Presidency and the national government are directly held accountable! People ask will there be immediate arrests of the identified perpetrators of the massacre? Three days have passed by and there is not a single arrest made yet...! Will there be honest and objective investigation of the massacre?

While we debate over the massacre, the perpetrators and the hundreds of high powered bearing CVOs and the identified leaders of the massacre roam freely and with impunity. Onli in da Pilipins!

CI AND OFFICERS PROPERTY APPRAISAL

2009-11-22T14:09:00.003+08:00

ATING KOOP Victory Mass and Motorcade

2009-11-20T13:43:00.002+08:00

On November 30, 2009, we will have a Victory Mass and Motorcade to celebrate the accreditation of ATING KOOP PARTYLIST by COMELEC. Let us meet on that date at 8AM in Quezon Circle. We will celebrate Mass at 9AM, then after the Solidarity Messages, we will proceed to COMELEC to file our INTENT to join the Election in 2010. Let us be there and invite your friends and supporters of Ating Koop.

This is Fr. Mar DJ Arenas officially announcing that Ating-Koop Partylist has just received on this 16th of November (Feast of the Mother of Mercy in Poland) the COMELEC Resolution approving Ating-Koop to participate in the 2010 election!

I would like to thank everyone for your active participation and prayers. This is a collective effort and teamwork. And I hope we continue to be this way...in God's guidance.

We will convene in the soonest possible date the National Assembly which will elect the National Council Central Committee, and will determine the selection process in choosing the Partylist Representative(s). Let us remember that the true Partylist Representative(s) are different from the District Representatives/Congressmen because the Partylist Representative(s) simply act as the "voice" of the National Assembly thru the National Council. Kaya pwedeng maging motto natin sa ating-koop partylist..."totoo ito, di trapo."

Let us start to mobilize. We have just started the journey. Let us adopt the W-I-N Formula: W-ork now! I-nvolve others! N-ever surrender!

I hope we can use this website to reach out and inform everyone on what we are doing in making sure that we reach congress in 2010. Soon we can say...may kapartner na tayo sa kongreso! Mabuhay ang Ating-Koop Partylist...totoo ito, di trapo!

ATING KOOP - COMELEC Approval

2009-11-20T13:38:00.002+08:00

Dear all,

We are pleased to inform you that the COMELEC First Division promulgated its Resolution dated November 13, 2009 approving our "Petition for Registration and Accreditation". The 12-page Resolution is very strong on legal and factual basis, as the COMELEC debunked and dismissed the allegations of COOP-NATCO point-by-point that we are not entitled to registration as a party-list representing the Cooperative Sector.

We thank all of you for the trust and faith that you have reposed to our Ating Koop. We look forward to seeing and meeting with you in the coming days as we plan for the May, 2010 elections!

Mabuhay and Ating Koop!

Cheers,

James Ian L. dela Vega

Pacquiao vs Cotto - Tale of the Tape and More

2009-11-14T06:13:00.005+08:00

Las Vegas - forgive me for bringing you this off topic article. I just couldn't forgive myself not bringing you this little info about our boxing icon progress in his fight tomorrow with Miguel Cotto.

I'd like to show you the tale of the tape for Saturday's anticipated welterweight title fight between Manny Pacquiao and Miguel Cotto, which will be settled when the six-time world champion Pacquiao and welterweight belt-holder Cotto step on the scales inside the MGM Grand Garden Arena.

The weigh-in is open to the public, with doors opening at 1 p.m. At 5:30 a.m., the first person started the line, said an MGM security official.

For those waiting for the weight numbers to be finalized for the bout that contractually demands each man to weigh in at 145 pounds, here's the other key numbers to chew on:

Age: Pacquiao 30, Cotto 29;

Record: Pacquiao 49-3-2, 37 KOs, Cotto 34-1, 27 KOs;

Height: Pacquiao 5-6 1/2, Cotto 5-8;

Reach: Pacquiao 67", Cotto 69";

Chest normal: Pacquiao 38", Cotto 39",

Chest expanded: Pacquiao 41", Cotto 41";

Biceps: Pacquiao 13", Cotto 13",

Forearm: Pacquiao 12", Cotto 11 1/2";

Waist: Pacquiao 28", Cotto 32";

Thigh: Pacquiao 20", Cotto 22 1/2";

Calf: Pacquiao 15", Cotto 12";

Neck: Pacquiao 16", Cotto 16";

Wrist: Pacquiao 8", Cotto 7 1/2";

Fist: Pacquiao 10", Cotto 11".

-- An unofficial poll of writers has been finalized, with 16 selecting Pacquiao and eight picking Cotto.

Source: http://latimesblogs.latimes.com/sports_blog/2009/11/manny-pacquiao-miguel-cotto-boxing-2.html
Written by: Lance Pugmire

Credit Card Companies Evil Deeds

2009-11-02T23:52:00.003+08:00

"5 evil things credit card companies can (still) do". This is the title of an article on Yahoo.com that speaks about the credit card companies abusive practices. Though this article was originally posted in CNN Money, it is still very relevant to us and reveals better understanding of the credit card company abuse.

Here's the brief 5 point summary:

Rate Hikes

Interest rates of credit cards are out of this world. They can charge as high as 36% p.a. And take note No current laws cap credit card interest rates. I hope our leaders are seeing this area to help people get out from abusive credit card companies charging interest rates to the neck.

New Fees

Not only are the rates high but fees are injected. If you are a card holder take notice of the fees, finance charges and annual fees previously offered free. What is this annual fee by the way? are they issuing card on an annual basis? or people are just charge for convenience of using it? it's not really fine it is rather not justified.

Higher Minimum Monthly Payments

Observe it. Credit card companies demand higher monthly payments to consumers. This has been acted upon by US for their people. I just pray our congressmen act on this too to protect consumers.

Fewer Rewards

Beach vacation, laptop, and ipod? well its no more. Companies only reward you for swiping the card and not for paying cash on your purchase. So what about the "rebates" well forget it, it will not happen.

Slashed Credit Limits and Cancelled Accounts

Notice the slashed of credit limits for those who have the cards. You'll be surprise it'll be up to 75% reduction. well what shocks consumer more is knowing their credit cards have been cancelled, and that happens without any calls from companies.

What's a Cardholder to Do?

Consumers must pay close attention to the terms of their contracts, staying alert to any changes.

"It's boring reading, and it can be hard to understand, but that's where everything is spelled out,".

Of course, while there are laws aimed at helping consumers, legislation can't do it all.

And if you don't like your credit card's new terms? "Shop around.

And hope for the best in Cooperatives they're actually our hope.

Pre-Membership Seminar Online

2009-11-02T16:36:00.002+08:00

If FICCO will offer Pre-membership online will you be interested to join?

I have received a number of emails from Filipino's abroad asking if they could possibly become a member while they are still working outside the Philippines.

Well my answer to that is this, "Yes, if you have been an active member before you leave the country" but if you're now outside the country and you are applying for membership then it is not yet permitted at the moment. The last information I got was that the legal department of FICCO task to study the legalities of having a member from outside the country, especially by the time one applies for a loan.

Any updates on this matter will be posted on this site. I urged Filipinos emailing me to just wait and subscribe to my email. Thank you.

FICCO 48th Office Opens in Ozamiz City

2009-10-28T13:48:00.005+08:00

Blessings of the motorcycle for the Ozamiz operation. With FICCO Maranding Manager Alex Ruel Manuel and CEO Vicente B Rana

FICCO Chairman Isagani B. Daba and FICCO Bank BOD Member Dir Tim Ruben

MotorcadeAfter the motorcade

FIRST COMMUNITY COOP BANK

2009-10-15T22:05:00.003+08:00

The First Community Cooperative Bank (FICCO Bank) of Misamis Occidental is already added to the Wikipedia under the list of banks in the Philippines. If you click on the link go to the Misamis Occidental and see the FICCO written second.

However, upon clicking the link to the article on the Wiki nothing can be found. It says Wikipedia does not have exact article with the exact name.

Cooperative Performance Annual Report Form (CAPR)

2009-10-15T04:57:00.003+08:00

I have notice a dead link on the Cooperative Development Authority (CDA) website page on the CAPR Form. I am posting a link to my google docs where cooperators may be able to download the form since it is the last quarter of the year and before we know it we will be required bythe CDA to submit annual reports that include the CAPR.

Anybody interested may download it from here, just click this link.

RMC 57-2009 Stop Issuing Tax Assessments to Coops

2009-10-14T09:55:00.005+08:00

Secretary Gary B. Teves signed the RMC 57-2009 dated October 5, 2009 directing the BIR to stop issuing tax assessments to cooperatives duly registered with the CDA based on the old cooperative law.

Here's is the image file of the RMC 57-2009.Here's also a link to my google docs where you can get the entire file: Click Here.

Additionally you may get a copy of Coop Code of 2008 here.

Don't forget to subscribe to my email list and get coop updates straight to your email

How to become a member in good standing?

2009-10-13T00:03:00.002+08:00

Aiming to become a member in good standing (MIGS) is a process. It is not an overnight sensation that some people ask to shorten the process begging managers of FICCO to grant them easy no sweat short cuts (warning). Thus, theres really no cutting corners for FICCO's MIGS process. When you are evaluated a Class A or a member in good standing at FICCO you should be proud of it because you earned it.

Now lets go back to the basic question. How does one become a member in good standing?

A member becomes a member in good standing when he complies the following condition:
Patronize FICCO services
- save/deposit regularly
- borrow wisely
- pay loans promptly
Participate FICCO activities
- attend General assembly
- attend coop anniversary (When members are invited to attend)
- attend coop month (When members are invited to attend)
Promote/sell FICCO
- recruit members
- remind lost/delinquent members

FICCO MAF Services

2009-10-12T01:03:00.002+08:00

So what do a member expect from the Mutual Aid Fund of FICCO? Here's a list of them

Hospitalization Assistance
Maternal Care
Death Aid
Savings Protection
Loan Protection

Hospitalization Assistance

Member is entitled to a P700 per day maximum of 5 days in a year. The requirements are only (1) Medical Certificate and (2) Hospital billing.

This benefit is not automatic members are urged to enroll before they are covered.

Maternal Care

For women members of FICCO. They are required to submit a negative pregnancy test (over and above the normal requirement) result before they can enroll under the maternal care.

Death Aid

Death Aid is a benefit upon death by a member.

Savings Protection

THis is used to protect the deposits of the members.

Loan Protection

This is offered to protect the loans of the member.

FICCO Organizational Structure

2009-10-12T00:54:00.002+08:00

This is the First Community Cooperative (FICCO) organizational structure.

How to Save?

2009-10-10T06:47:00.002+08:00

The pinoy's savings habit on a scale of 1 to 10, (10 being the highest) may only have a rating of 2. Meaning 2 out of 10 Filipinos save. Our mentality about savings is manifested by this equation:

Income minus Expense = Savings

A friend of mine even joke about this and said "oh the equation is wrong because the latest survey suggest that pinoy's savings habit is rated -1 (negative one) or an equation of Income - expense = Overdraft". Sad but true, I mean reality bites we have more to spend than to save. My question is - Is that really the reason why we cannot save? more to spend than to save? On the other hand others would say, "Yes we have save" but we withdraw it 2 days after every deposit. This is just the same as no savings at all.

The existence of cooperatives gives us hope to educate the members about personal finance. The habit of savings, frugality and thrift. lets educate more people, evangelize them with the cooperative principles, lets bring the light to them, make them aware that savings equation adopted by the cooperatives is this:

Income minus Savings = Expense

The trick is to do this little by little or a few amounts allocated every pay day until it becomes a habit. The only struggle is to begin and later it becomes a regular practice and will be very easy for one to comply.

What is the Obligation of the Comaker?

2009-10-10T06:27:00.002+08:00

By deifinition Co-maker means one of two or more persons who sign an instrument to indicate a promise to pay a financial obligation. Any co-maker may be sued for the entire amount of the indebtedness, although a co-maker who is forced to pay more than his or her share may seek contribution from the other co-makers.

The co-maker has an obligation as if he is the principal borrower. While FICCO exerts every effort to collect from the principal borrower, if the principal borrower cannot pay his loan, FICCO can run after the co-maker. Also, while FICCO is pursuing collection from the principal borrower, the co-maker, in the event he applies for a loan, is obligated to pay certain amount of the principal due including interest before his own loan is released or if he agrees, the delinquent loan will be deducted from his loan proceeds.

It is advise that before a member co makes a loan be sure you understand thoroughly your obligation in case of dafult by the principal borrower.

FICCO Loan Processing Procedure

2009-10-09T05:13:00.001+08:00

Steps in Loan Application :

Member- borrowers shall obtain a loan application form from the FICCO office where they are members.

Loan applications must be properly accomplished. Members must secure all the requirements needed before the application is accepted.

Since FICCO have different types of loans according to the needs of its members, some of its loan requirements differ depending on the type of loan being requested, viz:

i. For Regular loans, Housing Related loans & Commercial loans

Certificate of Employment/ Service record for employed members or Business Permit or DTI Certificate for business men

Pay slip (last 3 months prior to application)

Water and electric bill receipt (last 3 months prior to application)

Income Tax Return (previous year- photocopy)

Certificate of ownership of applications or OR/CR of motor vehicle or Original Title, Tax Declaration, Tax Clearance (Current year), Sketch plan and location plan for loans that require collateral.

Chattel mortgage or Real Estate Mortgage form

One-year bank statement or bank certificate for members who wished to use PDC’s as security.

For Financing Loans

Numbers 1, 2, 3, 4 & 6 of letter i.

Quotation from reliable stores of the member’s choice

iii. For Educational Loans

Numbers 1, 2, & 3 of letter i. Assuming member has no other loans (Current year)

Certification from school where their dependents are currently enrolled indicating the amount of school fees or assessment.

iv. For Medical Loans

Numbers 1, 2 & 3 of letter i. Assuming member has no other loans (Current year)

Medical or Doctor’s certificate

Drug prescription with corresponding value of the medicine

Once accomplished, the loan application shall be submitted to the Loans Clerk/ C.I./ Loans Officer for initial evaluation as to the completeness of the application including updating of data in the computer.

After scrutinizing the loan documents, the Loans Clerk/ C.I./ Loans Officer shall fill-out a Pre-Evaluation Form indicating all information such as: Monthly income, Monthly expenses and the disposable monthly income of the borrower. This Pre-Evaluation Form must be signed/ conformed by the borrower. The Loans Clerk/ C.I./ Loans Officer shall record the application on a logbook indicating the date and time of receipt.

The submission of loan applications must have a cut-off date to be able to give time for background and collateral inspection.

After the cut-off period, the C.I. must verify all the information stated by the borrower in the loan application, the member’s deposits as well as the signatures of the loaner, the spouse and co-makers. CI/Appraisers is prohibited from conducting appraisals for member borrowers who are their relatives up to 4 th civil degree by consanguinity or affinity.

After establishing the accuracy of the data supplied by the member, the C.I. shall conduct actual inspection on the residence and make background checks on the member using the ‘5 C’s of credit’ scheme. An inspection fee of P 100.00 shall be 50 KMS P 300.00.

The C. I. shall be responsible in making a written report after the credit investigation. This report will be the basis of the final evaluation by the Chief Loans/Manager and is crucial in the approval and/or disapproval of the loan application.

When the C.I. has finished preparing all the Credit Investigation Reports (CIR), The Chattel Inspection/ Real Estate Inspection Reports (CI/REIR) and the Membership Information Reports (MIR), he will then submit these documents together with loan applications to the Chief Loans or the Manager who in turn, will make endorsements and recommendations to the Credit Committee.

Members will then be required to attend a one & a half to two-hour briefing of the basic principles and policies of FICCO. Class A1 and A may attain loan briefing once a year.

After the briefing, a personal interview shall be conducted by the Credit Committee who will make the Final approval or disapproval of the loan. Proxies will not be allowed during briefings and interviews. Releases of approved loans shall be subject to availability of funds. The credit committee may require the submission of income tax return from the borrowers for verification purposes. Loans approved or disapproved by the credit committee shall contain the following:

a.) Signatures of the approving members by at least two (2) credit committee;

b.) Date of approval;

c.) A notation “APPROVED” “DISAPPROVED” shall appear in the loan application;

d.) Approved loans shall be filed properly in secured vaults immediately after its release together with all necessary supporting documents.

Approved or disapproved loan applications shall be returned to the Loans Clerk/ C.I./ Loans Officer for filing.

The Loans Clerk/ C.I./ Loans Officer shall type/ prepare documents such as; CM Form & REM Form, if applicable, and shall affix his signature on the papers together with another FICCO employee to act as witnesses to the signing of the documents, after which, the Manager affix his signature.

The FICCO Legal Counsel will notarize all the documents. After the notarization, the Documentary Clerk will bring the documents to the Bureau of Internal Revenue (BIR) and pay appropriate Documentation fees as well as the registration with the Registry of Deeds (ROD). The member shall be asked to pay for the payments to the BIR & ROD in cash aside from the processing fee of P 100.00 but shall not exceed P 500.00 & notarial of P 100.00 per loan document, which will be deducted from the member’s loan proceeds.

After the documents have been properly registered with the ROD, the same shall be returned to the FICCO office pending final release of the loan.

Final release of the loan will be after the registration of the ROD, in case of Real Estate Mortgage (REM) or Chattel Mortgage (CM) for appliances. For Chattel Mortgage on motor vehicles, the final release shall be after the annotation of the “encumbered to FICCO” by the Land Transportation Office (LTO).

The Loans Clerk/ C.I./ Loans Officer shall prepare check vouchers for each of the loan applicants.

The Accountant/ Bookkeeper or the Chief Loans/ Loan Analyst, shall verify all the entries in the check vouchers, loan applications and the loan disclosure and shall sign the checks for loans of Two Hundred Thousand Pesos (P 200,000.00) and below and shall be countersigned by the Manager. The Manager shall sign for loans above P 200,000.00 countersigned by the Treasurer or the member of the Board of Directors assigned for the cluster or in their absence, the General Manager/ CEO or the Manager of the nearest FICCO branch shall act as counter signatory.

During the release, the Loans Clerk/ C.I./ Loans Officer or Manager shall let the member sign on a logbook indicating the name of the borrower, the type of loan, amount of release, check numbers and the date of release as well as the Check Vouchers and the Loan Disclosure. A copy of the Loan Disclosure, Promissory Note and the Amortization Schedule shall be given to the borrower.

If the member-borrower cannot come personally because of obvious reasons, a written authority signed by the member-borrower indicating the reason why he/she cannot personally come and the person he/she is authorizing. The check proceeds of the loan maybe release but it shall only be encashed by the member-borrower. In some cases where the borrower has informed the office before the preparation of the checks and check vouchers, where a Special Power of attorney (SPA) has been submitted, the office may opt to include the name of the authorized person.

After the release, the Loans Clerk/ C.I. shall file all the loan documents on a safe or steel cabinet in an orderly manner. Collateral documents such as OR/ CR of vehicles, Certificate of Ownership and Land Titles must be kept in a secured vault and shall be properly recorded in a logbook.

Only authorized persons shall be allowed to access these files and the Loans Clerk/ C.I. must always monitor and properly record the whereabouts of these files.

C.I./ Collectors are responsible to make constant follow-up and make collections to those loans that have been released.

Types of Loan - FICCO

2009-10-08T04:49:00.003+08:00

With certain limitations, a member may avail of several loans at the same time depending on his capacity to pay, the collateral he can offer, and his classification. A member’s capacity to pay and the collateral he offer is subject to proper evaluation by the management and the Credit Committee. The classification is based on his track record as a member.

On the assumption that a member has the capacity to pay and can offer appropriate collateral, he can avail of the following loans in accordance with his classification, thus:

A. For Class A1+, A1 & A;

1. Regular Loans;
a. Productive Loan
b. Provident Loan
2. Regular Agricultural Loans;
a. Rice and Corn Crop Loan
b. Sugar Cane Crop Loan
c. Cassava Crop Loan
d. Other Crop Loan
e. Agricultural Lot Purchase
3. Commercial Loans;
a. Small Enterprise Assistance Loan
b. Commercial Credit Line
c. Vendors-Drivers Assistance Loan
4. Financing Loans;
a. Appliance Loan
b. Motor Vehicle Loan
c. Motorcycle Loan
d. Cell phone Loan
5. Travel;
a. Travel & Tours Loan
b. Special Travel & Tour Loan
6. Housing;
a. Housing Assistance Loan
b. FICCO Ville Lot Purchase
c. House Construction Loan
7. Commodity Loans;
a. Rice Loan
b. SM Gift Check Loan
c. Gaisano Gift Check Loan
d. Ororama Gift Check Loan
8. Medical Loans;
a. Medical Loan
b. Optical Loan
c. Dental Loan
d. Newborn Screen Test
9. Educational Loan
10. Salary Loan
11. Petty Cash Loan
12. Jewelry
13. Calamity
14. Memorial Lot &/or Services Loan

B. For Class B (re-loan);

1. Regular Loan (Productive or Provident) or
Regular Agricultural Loan or
TTL or
LAD
2. Petty Cash Loan
3. Rice Loan
4. Calamity Loan
5. Jewelry Loan
6. Medical Loan
7. Newborn Screen Test
8. LATD
9. LARS

C. For Class B (First-Time-To-Borrow), C & D;

1. Regular Loan (Productive or Provident) or
Regular Agricultural Loan or
Loan Against Deposits
2. Petty Cash Loan
3. Rice Loan
4. Jewelry Loan
5. Calamity Loan
6. Loan Against Time Deposit
7. Loan Against IS/RS

D. For Class E and members within Probationary Period;

1. Loan Against Deposit or
Rice Loan
2. Loan Against Time Deposit
3. Loan Against IS/RS

Member Classification - FICCO

2009-10-07T13:17:00.000+08:00

Class A1 Plus :

• Must have P50,000 minimum share capital
• 5 years minimum membership at “A” classification status
• Zero arrears in loan repayments
• Must have availed of FICCO Loan for five cycles
• Must have invited at least ten (10) new members who became regular Class A members
• Must have volunteered their time and services to FICCO by either as BOD, ELECOM, CRECOM, AIC, or EDCOM for at least one term. Services rendered during annual General Assemblies will be credited,
• Must have maintained the required ten percent (10%) annual growth of their Share and Savings or at least Ten Thousand Pesos ( Php 10,000.00) whichever is lower.
• A member who has maintained an A1 classification status for the last 3 years should merit certain privileges such as:
a.) Longer repayment term, automatic loan ceiling increase of ten to twenty-five percent (10%-25%) subject to the requirement that the new loan monthly amortization shall not exceed one hundred fifty percent (150%) of the immediately preceding loan amortization.
b.) One (1) co-maker
c.) Higher multiple of one step than the rest of the members subject to the provision on collaterals and amortization guidelines.

Class “A1” :

• Members who have established good loan track record for at least one (1) year, if term is more than one (1) year the reckoning will be the term of the loan;
• Pay loans on or before due date;
• Monthly depositor;
• With at least 10 % increase or P5,000 in share & /or savings deposits whichever is lower;
• Has attended at least one of the last 2 general assemblies.
• Must have good character and has the Capacity to pay

Class “A”:

• Members who have established good loan track record for at least one (1) year, if term is more than one (1) year the reckoning will be the term of the loan;
• Pay loans monthly but avails the 3-day grace period;
• Monthly depositor;
• With at least 10 % increase or P5,000 in share & /or savings deposits whichever is lower;
• Has attended at least one of the last 2 general assemblies.
• Must have good character and has the capacity to pay

Class “B”:

• Members whose loan record is less than 1 year, or
• Pay loans within the month but exceeds the 3-day grace period;
• Failed to deposit from one to two months during the 4-month reckoning period;
• Has attended the last general assembly.

Class “C”:

• Members who failed to pay loans for two months during the term of the loan;
• Failed to deposit for two months during the 4-month reckoning period;
• Has attended the last general assembly.

Class “D”:

• Members who failed to pay loans for two months during the term of the loan;
• Failed to deposit for three months during the 4-month reckoning period;
• Failed to attend the last general assembly

Class “E”:

• Members who failed to pay loans for three (3) months or more during the term of the loan;
• Failed to deposit for one or more months during the four-month reckoning

Who can borrow at FICCO?

2009-10-07T07:01:00.003+08:00

All bonafide members who have complied with all of the following requirements;

• Attended pre-membership seminar;
• Paid seminar fee of P30;
• Paid membership fee of P30 and ID of P20;
• Enrolled and paid one hundred forty (P140) as required membership fee & one (1) month premium for the FICCO- Mutual Benefit Association
• Paid at least one (1) share or P 100 and pledge to complete minimum share capital requirement of thirty (30) shares or 3,000 within one year;
• Deposited five hundred (P500) pesos in his/her savings deposit;
• Have undergone the probationary period of four (4) months from the date of initial share deposit (except those availing of loans against their deposits, which may be done even during the probationary period); and
• Have attended a loan briefing that covers a review of the core coop values and current loan policies.

Loans offered online?

2009-10-05T13:37:00.002+08:00

If you are a member of FICCO who is out of the country right now.

How would you react if FICCO will offer loan applications online? and evaluate your loan application online?
Would you be willing to avail loans online?
Are you convenient with bank transfer? loan releases and loan payment?

If you have any comments on this please email or comment below.

Why is it better to deposit in Cooperatives than commercial banks?

2009-10-04T21:53:00.003+08:00

There are rising awareness among regular citizen to realize that it is better to deposit money in cooperatives than commercial banks. We'll there are also a number of people testified banks are better options to park money.

I believe there are really advantages and disadvantages in deposits whether it be in commercial bank or in the cooperative. Allow me to cite a few:

Deposits in Cooperatives:

"Tax Free". Deposits in a cooperatives are not subject to withholding tax.
Higher Interest Rates. Normally deposits in cooperatives have higher yields than those with the banks. Banks offer 1-2% p.a. interest rates while cooperatives rates starts at 4% and up.
"No Deposit Insurance" as of the time of this writing most of the cooperatives developed only an inhouse insurance system on members deposit. There were a series of studies conducted to create something like PDIC but until now there is nothing that can be evidently visible. Lately, there is what we call CODIS (Cooperative Deposit Insurance System) they were able to submit requirements at government agencies regarding their registration but no news about it since submission last Jan 09 if I am not mistaken.

Deposits in Banks

Subject to 20% final withholding tax. a depositor once told to earn a certain rate on their savings deposit must always remember that the actual amount credited on their account is only 18% of it.
Interest rate at 1 - 2% p.a. only.
Deposits insured up to P500,000 by the Philippine Deposit Insurance Commission (PDIC)

If you ask me about my choice, well my biased is with cooperatives simply because by depositing in cooperatives we are infact helping ourselves. Bank owners are large capitalist who are enrich if we choose to deposit with them. I'm not saying they are bad rather I am campaigning that cooperatives gives us many add on aside from a higher interest on deposits. Some cooperatives even offer hospitalization, death benefits, savings protections, as well as insurance on loans. Banks normally don't give us these advantages and they keep their gains in contrast to our Patronage Refunds which is given every year.

Does that help? If you still have doubts about coops, email me.

DCCCO Deposit Products and Interest Rates

2009-10-04T08:07:00.003+08:00

Dumaguete Cathedral Credit Cooperative or DCCCO

Regular Savings

average daily balance to earn interest - P1,000.00

minimum required for MDAB purposes at the time of death – P500.00

earns interest of 3% computed monthly compounded quarterly

ATM Savings:

average daily balance to earn interest – P 1,000.00

balances falling below P 500.00 is charge service fee of P5.00

earns interest of 3% computed monthly compounded quarterly

Equity Savings

average daily balance to earn interest - P1,000.00;

can be used for loaning purposes if the share capital/fixed deposit reaches to PhP 20,000.00

non-withdrawable unless member’s loan is fully paid or for full payment of loan

Time Deposit

minimum deposit of P5,000.00 for minimum placement of 30 days. Interest is 3.5% - 5% depending upon the amount of deposit and the inflation rate.

Kiddie Savers

for kids 13 years old and below

with rewards for highest depositors

can avail of the scholarship program, MDABF & medical/dental care benefits

Teen Savers

for teens aging over 13 to 17 years old

same terms as Kiddie Savers

DCCCO Loan availments

2009-10-04T07:56:00.003+08:00

Eligibility for a loan from Dumaguete Cathedral Credit Cooperative (DCCCO) does not confer automatic right on the member to avail of a loan. The member's loan privilege would depend on his credit standing and status as a member.

New member less than three (3) months can avail of loan at a maximum amount equivalent to his/her share capital.
New member more than three months can avail of loan twice of his/her share capital.
Member in Good Standing (MIGS) depends on his/her classification.
Non-Member In Good Standing (Non-MIGS) depends on the assessment of the loans division personnel.
Member can also avail of loan against his/her time deposit at a maximum amount equivalent to 90% thereof.

What are the types of deposits?

2009-10-03T21:18:00.003+08:00

There are several deposit products of FICCO, they're listed below:

Savings Deposit. Deposit that can be withdrawn anytime, provided it is not encumbered with any loans with FICCO. Encumbered deposits are withdrawable only upon payment of loan is completed.
Time Deposit. This is otherwise known as term deposit. has a special higher rate than the regular savings deposit. FICCO normally offers a one month rollover TD to its members.
Special Deposits. Are deposits from associate members of FICCO. This is withdrawable anytime
Retirement Savings. a special type of deposits designed for members retirement for a period of 5 years.
Installment Savings. a special type of deposit designed for members installment savings for a period of 5 years
Young Savers. Deposit for kids 3 y.o. to 13 y.o.
Youth Savers. Deposit for teens ages 14 y.o. - 17 y.o.
Preferred stocks. capital deposits from associate members of FICCO is under this account.
Common Stock (commonly known as Share Capital). Deposit that cannot be withdrawn anytime. This deposit is withdrawable only if one wishes to terminate his membership with FICCO.

Note: Under the Cooperative Code of 2008 R.A. 9520, the deposits from members of the cooperative is not subject to the 20% withholding tax.

How to become FICCO member?

2009-10-03T20:38:00.002+08:00

Becoming a FICCO member is relatively easy, you only do the following steps and comply the following requirements:

Ask for an application for membership.
Submit application for membership and the requirements (i.e. Brgy. certification, Residence Certificate). Upon completion of step 1 and 2 you are given a schedule to attend Pre-membership Seminar (PMS).
Attend the PMS on your scheduled date. The normal PMS day is Saturday 1:00-4:00Pm, subject to questions and answer. Note: before the PMS start you are normally given the Specimen signature card and MBA application. You may fill it up in advance.
Deposit the required amounts P 100 share, P 100 savings, P 50 MBA membership fee, P90 MBA contribution (1 mo and P90 per mo. thereafter).
Get your savings and share capital passbook 3 to 4 days after or as may be advice by FICCO staff.

The above steps is very easy to comply. There should be no reason for anybody to ask for exemption of PMS. As this component is very vital to new members on the principles of cooperativism and the philosophy of cooperatives.

On the other hand, next part is more challenging to a new member. this is to maintain the habit of savings for the next 4 months and to raise P 3,000 in order for him to become a regular member. Over this a member has to maintain P 90 for MBA per month. Mutual Benefit Association (MBA) is the FICCO micro insurance for its members. Insurance is very important for us, I have written an article on this previously titled "Is insurance imporant?"

Roach Not Satisfied with Manny Today

2009-10-02T14:50:00.003+08:00

His (Pacquiao’s) performance today isn’t the way he’s gonna beat Cotto. But that’s part of the process, That’s part of training camp and that’s why we’re here. That’s something we’re working on – to get him ready for the fight

This was the comment made by Freddie Roach after the sparring match between Manny and Shawn Porter at the Baguio gym. Roach said he leaned too much on the ropes and Porter was able to caught Pacquiao with good right leads, a couple of straights to the face, and left jabs identical to techniques of Cotto. Roach in short is not satisfied with the performance of Manny and plans to close the gym for more focus. He rated Manny's training at 40% considering his performance with Porter.

Every fighter can't just be underestimated Cotto being the younger fighter has an advantage on his own. Manny has to make up with his training and shouldn't give the other the chance to pin him down.

Like many others, I can't wait to see PacMan and Cotto in the ring.

How to make money thru Paypal

2009-09-30T12:37:00.002+08:00

(click the image to register)

Each time a new merchant signs up for a PayPal Business or Premier account via the link or banner that you provide, you'll be eligible for a Merchant Referral Bonus. Your referral bonus is tied to the amount the merchant receives via PayPal's Website Payment Tools or Send Money.

You'll immediately start earning 0.5% of the new merchant's revenue — up to $1,000.00 USD — for the first 12 months that the merchant has his PayPal account.

There are three types of Paypal accounts: Personal, Premier, and Business.

Personal accounts are, obviously, for the personal use of individuals. They can accept up to five (5) credit or debit card funded payments per year and are assessed a transaction fee. Other payments received are not charged a fee.

Premier accounts are for members who have a high transaction volume or would like to access Paypal’s Core and Premium features (explained below). Premier accounts may operate under an individual name. Unlike Personal Accounts, they can accept an unlimited number of credit or debit card payments. However, all payments received are charged a certain fee. (Paypal’s fee schedule here.)

Business accounts are for businesses, allowing them to operate under a company or group name and accept payment from customers without PayPal accounts. Like Premier accounts, they can accept an unlimited number of credit and debit card payments, although all payments they receive are charged a certain fee.

PacMan Donates 1 Million to Ondoy

2009-09-30T01:18:00.002+08:00

Boxing - Manny Pacquiao donates 1 Million to tropical storm victim "Ondoy", expresses sympathy while training in Baguio the boxing icon did his part in the Pinoy Bayanihan to extend help to affected families of storm Ondoy.

ON the other hand PacMans sparring partner is strong and tall, Shawn Porter.

Porter, undefeated in 10 fights, with six knockout wins coming in the first round, raised some eyebrows when he climbed the ring to spar with Manny. He seemed too big for Pacquiao, who will fight Cotto at 145 lb.

“He was much bigger but that’s good because he got to push Manny around. I also think he’s the heaviest puncher Manny has ever sparred with. But a few more sessions and I don’t think he can last with Manny,” said Koncz.

The doors to the boxing gym where Pacquiao will train for the next four weeks were closed to the media and fans yesterday, particularly since it was the first day of sparring for the reigning pound-for-pound champion.

Class Suspended for 1 Week

2009-09-30T00:53:00.006+08:00

All levels in Metro Manila and typhoon "Ondoy" affected areas has been declared no class for the rest of the week by PGMA.

Clean operation and rehabilitation for affected residents as well as classrooms by students was given a go first by the NDCC and the DepEd in a meeting yesterday.

170 public school buildings are also being used as evacuation centers where some 10,000 families are currently taking refuge. The DepEd’s Disaster Risk Reduction Management Office added the school buildings that were turned into evacuation centers are currently sheltering a total of 9,129 families or 18,199 people.

Lapus also urged parents and teachers to reactivate “Brigada Eskwela” and help in the clean up of the flooded school buildings.

"Ondoy" Manila Floods Pics

2009-09-27T22:10:00.006+08:00

Here are a number of pics collection of storm Ondoy (Ketsana internationally known as):

For the love of this country - What can you do?

2009-09-27T11:45:00.005+08:00

(This is from a yahoo group which I am a member)

To all Filipinos Everywhere:

I used to think that corruption and criminality in the Philippines were caused by poverty. But recent events tell me this isn't true. It is one thing to see people turn into drug addicts, prostitutes, thieves and murderers because of hunger and poverty, but what excuse do these rich, educated people have that could possibly explain their bizarre behavior? And to think I was always so relieved when petty snatchers got caught and locked away in jail because I never fully realized that the big time thieves were out there, making the laws and running our country. Can it get any worse than this?

Every night, I come home and am compelled to turn on my tv to watch the latest turn of events. I am mesmerized by these characters. They are not men. They are caricatures of men - too unreal to be believable and too bad to be real. To see these "honorable" crooks lambast each other, call each one names, look each other in the eye and accuse the other of committing the very same crimes that they themselves are guilty of, is so comical and apalling that I don't know whether to laugh or cry. It is entertainment at its worst!

I have never seen so many criminals roaming around unfettered and looking smug until now. These criminals wear suits and barongs, strut around with the confidence of the rich and famous, inspire fear and awe from the very citizens who voted them to power, bear titles like "Honorable", "Senator", "Justice", "General" and worse, "President". Ironically, these lawless individuals practice law, make our laws, enforce the law. And we wonder why our policemen act the way they do! These are their leaders, and the leaders of this nation – Robin Hoodlum and his band of moneymen. Their motto? "Rob the poor, moderate the greed of the rich."

It makes me wonder where on earth these people came from, and what kind of upbringing they had to make them act the way they do for all the world to see. It makes me wonder what kind of schools they went to, what kind of teachers they had, what kind of environment would produce such creatures who can lie, cheat and steal from an already indebted country and from the impoverished people they had vowed to serve. It makes me wonder what their children and grandchildren think of them, and if they are breeding a whole new generation of improved Filipino crooks and liars with maybe a tad more style but equally negligible conscience. Heaven forbid!

I am an ordinary citizen and taxpayer. I am blessed to have a job that pays for my needs and those of my family's, even though 30% of my earnings go to the nation's coffers. Just like others in my lot, I have complained time and again because our government could not provide enough of the basic services that I expect and deserve. Rutty roads, poor educational system, poor social services, poor health services, poor everything. But I have always thought that was what all third world countries were all about, and my complaints never amounted to anything more.

And then this. Scandalous government deals. Plundering presidents pointing fingers. Senators associated with crooks. Congressmen who accept bribes. Big time lawyers on the side of injustice. De Venecia ratting on his boss only after his interminable term has ended, Enrile inquiring about someone's morality! The already filthy rich Abalos and Arroyo wanting more money than they or their great grandchildren could ever spend in a lifetime. Joker making a joke of his own "pag bad ka, lagot ka!" slogan.. Defensor rendered defenseless. Gen. Razon involved in kidnapping. Security men providing anything but a sense of security. And it's all about money, money, money that the average Juan de la Cruz could not even imagine in his dreams. Is it any wonder why our few remaining decent and hardworking citizens are leaving to go work in other countries?

And worst of all, we are once again saddled with a power-hungry president whose addiction has her clinging on to it like barnacle on a rusty ship. "Love (of power) is blind" takes a whole new meaning when PGMA time and again turns a blind eye on her husband's financial deals. And still blinded with all that is happening, she opts to traipse around the world with her cohorts in tow while her country is in shambles.

They say the few stupid ones like me who remain in the Philippines are no longer capable of showing disgust. I don't agree. Many like me feel anger at the brazenness of men we call our leaders, embarrassment to share the same nationality with them, frustration for our nation and helplessness at my own ineffectuality. It is not that I won't make a stand. It is just that I am afraid my actions would only be futile. After all, these monsters are capable of anything. They can hurt me and my family. They already have, though I may not yet feel it..

But I am writing this because I need to do something concrete. I need to let others know that ordinary citizens like me do not remain lukewarm to issues that would later affect me and my children. I want to make it known that there are also Filipinos who dream of something better for the Philippines. I want them to know that my country is not filled with scalawags and crooks in every corner, and that there are citizens left who believe in decency, fairness, a right to speak, a right to voice out ideas, a right to tell the people we have trusted to lead us that they have abused their power and that it is time for them to step down. I refuse to let this country go to hell because it is the only country I call mine and it is my responsibility to make sure I have done what I could for it.

Those of us who do not have the wealth, power or position it needs to battle the evil crime lords in the government can summon the power of good. We can pray. We can do this with our families every night. We can offer petitions every time we celebrate mass. We can ask others to pray, too, including relatives and friends here and overseas. And we can offer sacrifices along with our petitions, just so we get the message to Him of our desperation in ridding our nation of these vermin. After all, they cannot be more powerful than God!

I implore mothers out there to raise your children the best way you can. Do not smother, pamper, or lavish them with too much of the material comforts of life even if you can well afford them. Teach them that there are more important things in this world. I beg all fathers to spend time with their children, to teach them the virtues of hard work, honesty, fair play, sharing, dignity and compassion – right from the sandbox till they are old enough to go on their own. Not just in your homes, but at work, in school, everywhere you go. Be good role models. Be shining examples for your children so they will learn to be responsible adults who will carry and pass on your family name with pride and honor.

I call on educators and teachers – we always underestimate the power of your influence on the minds of our youth. Encourage them to be aware of what is happening in their surroundings. Instill in them a love of their country, inculcate in them the value of perseverance in order to gain real, worthwhile knowledge, help us mold our children into honorable men and women. Encourage our graduates, our best and brightest, to do what they can to lift this country from the mire our traditional politicians have sunk us into. The youth is our future – and it would be largely because of you, our educators, that we will be able to repopulate the seats of power with good leaders, presidents, senators, congressmen, justices, lawmakers, law enforcers and lawful citizens.

I ask all students, young people and young professionals everywhere to look around and get involved in what is happening. Do not let your youth be an excuse for failure to concern yourselves with the harsh realities you see. But neither let this make you cynical, because we need your idealism and fresh perspective just as you need the wisdom of your elders. YOUR COUNTRY NEEDS YOU! Let your voices be heard. Do what you can for this land that gave you your ancestors and your heritage. Use technology and all available resources at hand to spread good. Text meaningful messages to awaken social conscience. Try your best to fight moral decay because I promise you will not regret it when you become parents yourselves. You will look back at your past misdeeds and pray that your children will do better than you did.

Remember that there are a few handful who are capable of running this country.. You can join their ranks and make their numbers greater. We are tired of the old trapos. We need brave idealistic leaders who will think of the greater good before anything else. Do your utmost to excel in your chosen field.. Be good lawyers, civil servants, accountants, computer techs, engineers, doctors, military men so that when you are called to serve in government, you will have credibility and a record that can speak for itself.

For love of this country, for the future of our children, for the many who have sacrificed and died to uphold our rights and ideals, I urge you to do what you can. As ordinary citizens, we can do much more for the Philippines than sit around and let crooks lead us to perdition. We owe ourselves this. And we owe our country even more.

(updated 14-Oct-2009 read the comment below)

Ang Ladlad Ask for Comelecs Accreditation

2009-09-25T00:32:00.002+08:00

For the second time the group led by Danton Remoto filed a petition before the Comelec urging the poll body to allow them to participate in the 2010 elections. Gays, lesbians, bisexuals and transgenders are said to account for 10 percent of the total 43.5 million registered voters nationwide.

Two years ago Comelec junked their petition for accreditation citing the failure to comply with the legal requirements of national membership.

Public discrimination against them is said to be the main reason why Ang Ladlad is formed. Equal opportunities for gays and lesbians is their aim.

ang Ladlad push for the repeal of the Anti-Vagrancy Law, which he said is commonly used by unscrupulous policemen for extortion of gays.

Bolanon: (a Philstar user commented) Now we are truly seeing the decline of this country. Those who forget history are bound to repeat them. Sodom and Gomorra are forgotten. Our fathers' values are forgotten. The sanctity of marriage (and that means between a man and a woman - in the context of that marriage - a man shall leave his house and a woman his mother, something like that), because men have become so debase and detestable by lusting for one another when even from a biological viewpoint, there is no way that homosexuality will stand. In the Old Testament times, these were stoned to death. Now, we applaud when they march on stage. Ban these people. So we see a serious flaw in our constitution on these party list system. AMEND THE CONSTITUTION NOW!

Think and Grow Rich

2009-09-23T12:31:00.003+08:00

Grab "Think and Growm Rich Ebook" when you subscribe to my mailing list. Send me an email at toti.patrimonio@gmail.com after you subscribe to my mailing list.

We're on Page 8 - MFS Blogger Gallery

2009-09-19T22:23:00.005+08:00

I received an email that Philippine Coop Blog was directly added by its Admin of MFS Blogger Gallery on Page 8.

I think we're really getting respect from bloggers community. It is an honor for the Philippine Cooperative Blog to get somewhere from a very monimal amount of visit when it started 3 years ago.

The page on MFS Blogger Gallery is feature on this link to inform you all that we are getting popular among blog list.

Though I must admit there are some articles not really related to cooperatives, forgive my write ups, these were just made to further the visitors and keep the momentum of each visits by loyal readers. Blogging after all is more than just sharing the information it is giving away your passion.

THese all for the love of blogging.

I Am the Hottest Link on Twitter! ClickAdsOnline

2009-09-19T20:02:00.004+08:00

(click the image to enlarge)
I was very surprise to see I was one of the hottest link on Twitter! Lol!

ClickAdsOnline, my twitter account have 300+ retweets in my 10 original tweets. That's a swift victory for a span of 2 hours online and gain this top position in twitter. Proudly Pinoy!

Just in case you might want some proof here's the link: http://tweetmeme.com/user/clickadsonline

Not many twitter users hailed for this. I wasn't expecting to lead, I was only hoping for a traffic in this blog inviting people in many areas of the world somehow know we exist!

My Beloved Philippines

2009-09-19T12:20:00.004+08:00

FW: PICPA Coop DEv Group forwarded this to me. I believe it is worth sharing over this blog.

by Father James Reuter, S.J.

By her own admission, GMA (Gloria Macapagal Arroyo) rightfully assessed that over the last decades; our republic has become one of the weakest, steadily left behind by its more progressive neighbors.' Forty years ago, we were only second to Japan in economic stature, and way ahead of Singapore , Hong Kong , Malaysia , and Thailand . Today, at our present growth rate, it will take us 30 years to get to where Thailand is.

1.. A population of 160 Million;

2. Of those, 70 to 90 million (equivalent to our current population) will live below the poverty line;

3. Our national debt is estimated to be at US$200B (compared to US$28B when Marcos fled, and US$53B today);

4. We will be competing, not against Thailand or even Vietnam , but against Bangladesh ;

5. We will be the most corrupt nation in Asia , if not in the world (we're already ranked 11th most corrupt nation by Transparency International) ...

The signs are clear. Our nation is headed towards an irreversible path of economic decline and moral decadence. It is not for lack of effort. We've seen many men and women of integrity in and out of government, NGOs, church groups & people's organization devote themselves to the task of nation-building, often times against insurmountable odds.

But not even two people's revolutions, bloodless as they may be, have made a dent in reversing this trend.. At best, we have moved one step forward, but three steps backward.

We need a force far greater than our collective efforts, as a people, can ever hope to muster. It is time to move the battle to the spiritual realm.. It's time to claim GOD's promise of healing of the land for His people. It's time to gather GOD's people on its knees to pray for the economic recovery and moral reformation of our nation.

Is prayer really the answer? Before you dismiss this as just another rambling of a religious fanatic, I'd like you to consider some lessons we can glean from history.

England 's ascendancy to world power was preceded by the Reformation, a spiritual revival fueled by intense prayers.

The early American settlers built the foundation that would make it the most powerful nation today - a strong faith in GOD and a disciplined prayer life.. Throughout its history, and especially at its major turning points, waves of revival and prayer movement swept across the land.

In recent times, we see Korea as a nation experiencing revival and in the process producing the largest Christian church in the world today, led by Rev. Paul Yongi Cho. No wonder it has emerged as a strong nation when other economies around it are faltering.

Even from a purely secular viewpoint, it makes a lot of sense. For here there is genuine humbling & seeking of GOD through prayer, moral reformation necessarily follows. And this, in turn, will lead to general prosperity. YES, we believe prayer can make a difference. It's our only hope.

Today, we launch this email brigade, to inform Filipinos from all over the world to pray, as a people, for the economic recovery and moral reformation of our nation. We do not ask for much. We only ask for 5 minutes of your time in a day, to fwd this email to your close friends and relatives.

This is the kind of unity which can make a big difference. Of course, if you feel strongly, as I do, about the power of prayer, you can be more involved by starting your own prayer group or prayer center.

We have tried people power twice; in both cases, it fell short. Maybe it's time to try prayer power. GOD never fails. Is there hope? YES! We can rely on God's promise, but we have to do our part. If we humble ourselves and pray as a people, GOD will heal our land. By GOD's grace, we may yet see a better future for our children.

'If My people, who are called by My name, will humble themselves and pray, and seek My face, and turn from their wicked ways, then will I hear from Heaven, and will forgive their sins, and will heal their land.'(2 Chronicles 7:14).

Chiz Escudero Favored by Iskolar Ng Bayan

2009-09-18T06:44:00.003+08:00

In a Philstar report today Chiz Escudero is favored over Villar and Aquino. UP Alpha Sigma fraternity sponsored moc election from Sept 8-15 result:

Escudero -690 votes - 21 percent
Villar - 365 votes - 11.6 percent
Aquino - 278 votes - 8.8 percent
Madrigal - 258 votes - 8.2 percent
Legarda - 237 votes - 7.9 percent
Fernando - 226 votes - 7.2 percent
Binay - 162 votes - 5.1 percent.

On the otherhand, look at the left side of this blog, I have provided a poll survey over readers of this blog for presidentiables. You may cast your votes and be counted lets have a diverse population from any sector to cast votes over this survey after this poll ends I will post an article about it.

Source: Philstar

Can AFP Eliminate the NPA?

2009-09-17T16:50:00.003+08:00

In an article in Philstar entitled "Defeat of NPA By 2010 Imminent, Says AFP" have some new revelations over AFP's leadership untamed tongue, this implies many things for me positive and negative and to cite a few hear this:

AFP Leaders would like to Demoralize the NPA
If this is intended that way the NPA's know for a fact how well or bad they are doing.

AFP want to smell good over a Promotion before PGMA leaves office
Hhhmmnn... I smell something. PGMA has always make Generals seated in the Top offices in the country, why not?

AFP wants to display good public image
I believe the public always have high regards for the AFP. It is always there, what makes the public shun them are the people like Garcia (baka nandun ang budget para sa bala) or officers like the Euro generals, and perhaps many others who hides in the cloak of a snappy uniform.

What the public need is an action than a bubbly mouth.

Cousins: Gibo Teodoro Against Noynoy Aquino

2009-09-17T06:12:00.005+08:00

For the public's information Aquino and Teodoro are second cousins, their mothers Corazon and Mercedes being first cousins in the Cojuangco family. Mercedes is the youngest sister of business tycoon Eduardo “Danding” Cojuangco.

We are all aware that the expected happens yesterday when Teodoro beats MMDA chair Bayani Fernando to be the Party's standard bearer. The two presidential aspirants took turns answering questions on

their respective positions on issues, including the Mindanao peace process, communist insurgency, climate change, youth, housing, agrarian reform, and graft and corruption. “

In the end, however, one man alone had to be chosen as standard bearer to lead the party in the elections of 2010 and, with God’s grace, to lead our country to its rightful place of dignity, unity, peace and prosperity,” Presidential Adviser for Political Affairs and Lakas-Kampi-CMD secretary general Gabriel Claudio said in announcing to the media the selection of Teodoro.

On the other hand, Noynoy Aquino by far reaches more than 50% by a survey conducted recently. Aquino, standard bearer of the Liberal Party, said “I wish him well,” Aquino said, even as he admitted that he was not really close to Teodoro.

They had always been on opposite sides of the political fence but respected each other’s positions. “(Our differences) never became personal. Maybe, we both were trying to understand where we were coming from, our backgrounds are different,” Aquino said.“Just like what my father, the late senator and national hero, Benigno ‘Ninoy’ Aquino Jr., always used to say, everyone should be running scared so as not to be complacent, “ he said.

sources: Philstar

Bob Arum to Baguio City

2009-09-14T14:37:00.003+08:00

Once the training of the pound for pound king Manny "PACMAN" Pacquiao starts in Baguio City Bobo Arum will visit the summer capital of the country to witness its beauty.

Philstar noted in the article that Bob Arum hasn't been to Baguio and he won't miss the opportunity to be there once the training of Manny starts. He was even asking what he should do once landed in Manila but Manny assured him to booked a private flight going to Baguio. The Top Rank big boss will be staying in Baguio for afew days before going back to the States.

Pacman at the New York Times Main Office

2009-09-13T09:50:00.003+08:00

New York - our own boxing legend Manny Pacquiao was invited at the New York Times main office for a 45 minute round table disccussion with sports editor to discuss about his fight with Cotto, how he started as a boxer and his political plans.

The fight with Cotto could make him a P 1 Billion richer said Arum. He is guaranteed purse of $13 million in the upcoming fight but could reach $20 million.

Pacquiao earned close to $15 million each in his last two fights against Oscar dela Hoya and Ricky Hatton, and there’s just no other way but up for the one widely considered as the face of boxing today.

Pacquiao said he was gunning for a seventh world title in different weight classes, but said that’s as far as he can go. He was asked how many more fights is he looking at, and he said, “I don’t know. It’s up to him (Arum).”

Freddie Roach -It was in 2001 when he “walked into my gym looking for a trainer, and one month after we won the world title against (Lehlo) Ledwaba.”

“Guys like him come once in a lifetime. He’s the Muhammad Ali type. And I think we will never see another Manny Pacquiao at least in our lifetime,” said Roach.

Otherwise, what’s Pacquiao doing in the main office of the New York Times on a very busy day?

Source: Philstar

For Auction: 2010 Presidential Bid is now Open! Who's Interested?

2009-09-10T15:31:00.007+08:00

We are all aware that Noynoy Aquino is joining the race for presidential bid in 2010. This has somewhat resulted in withdrawal for some (Mar Roxas, Ed Palilio, and others) and a declaration to maintain their stand in running for president (Loren Legarda and others).

What surprises me is the stand of former Pres. Joseph Estrada. He is very determined and has a strong conviction and even said that if the opposition cannot unite for 1 president to run. He is maintaining his declaration and not giving up to pursue 2010 presidential bid. Isn't this action inflict more damage than good to the opposition? or allow me to say its illogical. What's the relationship of his bid against the unity of the party? If he decides not to run will it have impact to unite the opposition? I would rather believe him saying "I will run for President -PERIOD!!!" I think that will be enough, but forgive my tongue because I would say it is not right... All have their individual rights to declare and pursue and I hope there would really be someone from among our candidates that truly fight for genuine politics. Our country needs leaders who really have the heart for the people and not for themselves. There is Ping Lacson, Jejomar Binay, Chiz Escudero, Mike Velarde, Bayani Fernando, Noli De Castro, Gilbert Teodoro, and others that might have yet to declare...

Here are the following problems they faced once they'll win:

Ballooning Debt with interest on it's neck.
Aggravating Fiscal budget deficit that PGMA promised to balance; Lol!
Increasing Poverty situation, contrary to "Ramdam ang Kaunlaran" (feel the improvement/development) I would say "Ramdam ang Kaunloron" (feel the sinking/hardship).
Population growth
Economic instability
Peace and Order

Lastly, "ATTITUDE". Unless we do something, unless we take out greediness, unless we change... everything will just continue in an unending loop. I don't know what's next... famine? deep poverty? war? riots? people power? inflation rise? economic turmoil?

In all these things I still believe and hope for the best in our country... I'll try to believe.

JOINT CONGRESSIONAL OVERSIGHT COMMITTEE ON COOPERATIVES MEETING

2009-09-10T14:55:00.002+08:00

JOINT CONGRESSIONAL OVERSIGHT COMMITTEE ON COOPERATIVES MEETING: Senate Majority Leader & Committee on Cooperatives Chairman Juan Miguel Zubiri (center) gestures as he stresses his point while Taguig 1st District Representative Maria Laarni Cayetano (left) and House Committee on Cooperatives Chairman Ernesto Pablo (right) wait for their turn during the Joint Congressional Oversight Committee on Cooperatives meeting on August 17, 2009 held at the Senate. Zubiri also said that the oversight committee will ask Finance Secretary Margarito Teves to issue an order to the Bureau of Internal Revenue (BIR) not to collect taxes from the cooperatives until after the Joint Implementing Guidelines between the Cooperative Development Authority (CDA) and BIR have been approved.

Gov't Grant Co-ops Amnesty from Back Taxes

2009-09-09T09:48:00.002+08:00

A joint resolution by the Department of Finance (DOF) and Cooperative Development Authority (CDA) granted amnesty to cooperatives from back taxes that have not yet been assessed by the Bureau of Internal Revenue (BIR).

So what initially are covered under this resolution? According to the report by the Philippine Daily Inquirer the following are covered:

Basically, back taxes that have not yet been assessed;
Transaction with banks and insurance companies;
All investments in the cooperatives are virtually tax free;
Income taxes from members interest on share capital

The above however, is not conclusive as it was written on the PDI report, I still have to verify whether these are true. I will post an update once I obtain the joint resolution.

See article from PDI. here

$500 Million ADB Loan

2009-09-08T00:43:00.004+08:00

Bangko Sentral Ng Pilipinas (BSP) Monetary Board approves the $500 million loan from Asian Development Bank by the PHilippine government. The amount is said to be alloted by ADB as part of its $3 Billion for the developing country such as ours to assist from the uncertain impact on the global recession.

Further, the amount loaned will be used to finance year ender budgetary support.

Originally the government has already borrowed 276.23 Billion from Jan to Jul this year.

Source: Philstar

US Firm to Invest 50 Billion

2009-09-07T10:15:00.003+08:00

This is a very outstanding headline to post in our daily newspaper than the very sad Ferry sink. I'm not saying I don't care about the negative things happening in our country I am however concerned by the level at which how we can really care for the "Yanong Juan" or should I say "Every Juan".

On the other end, Pres GMA will attend the funeral of ka Erdie Manalo to pay last respect of the leader of the Iglesia Ni Kristo. How I hope this action will not add any color to us because the group delivers a vote rich and solid straight from its millions of members throughout the country. I least expect a working day for this as an exchange considering the groups help frm the last election.

The US-based Swiss Global Connect USA will invest $50 billion to develop priority projects in tourism, real estate development, infrastructure, agricultural research, indigenous power supply and mineral enhancements in Zambales. Consider this a very big achievement if no ZTE like transactions for the greedy then no problem, I will be the first to praise the government.

Opinions were based on the Philstar issue. here

Superferry 9 Sinks

2009-09-07T01:56:00.002+08:00

Five people drowned and 900 terrified passengers... When do we have to learn?

As a third world country, it's unfortunate that shipping companies can't afford to purchase new sea vessels. A vast majority of these ships are probably 20 -30 years old, discarded from Japan, South Korea and other countries but apparently still being utilized in the Philippines. Since time immemorial, thousands of precious human souls have been lost due to the result of these dilapidated ships plying different routes in the archipelago. With that said, it's the responsibility of the government to strictly impose maritime laws or legislate new laws to prevent such avoidable sea tragedies from keep on happening. In the same vein, it's the primary responsibility of ship owners to follow the standard maintenance procedure in order for their fleet to be mechanically and electrically in good condition along with regular safety and other operational training for the crew.

Villar Not Yeilding for Noynoy

2009-09-04T16:17:00.004+08:00

Sen. Manuel Villar Jr., the Nacionalista Party’s standard-bearer, said everybody has the right to run for president. Villar is leading the recent popularity surveys of presidential aspirants, said he could attribute his high ratings to the support he was getting for assisting the poor and overseas Filipino workers.

On the contrary, Liberal Party President and Sen. Manuel Roxas II, who was the party’s standard-bearer, announced last Tuesday that he would give way to Senator Noynoy Aquino to keep the party united.

Source: Philstar

129.6 Billion is Today's Credit Card Receivables!

2009-09-02T07:38:00.002+08:00

The Bangko Sentral ng Pilipinas (BSP) reported that the credit card receivables rose to P129.6 billion in the second quarter of the year, from P125.7 billion recorded in the first three months of 2009. 81 percent or P104.9 billion comes universal and commercial banks.

Credit card subsidiaries of banks held 15.1 percent or P19.6 billion while thrift banks accounted for the remaining 3.9 percent or P5.1 billion.

On the quality of credit card receivables, the non-performing receivables stood at P16.5 billion, up by 7.1 percent from last quarter’s P15.4 billion and by 16.1 percent from year ago’s P14.2 billion.

Meantime, the non-performing credit card receivables to total non-performing loans ratio stood at 12.1 percent (up from 11.2 percent last quarter and 10.6 percent a year ago). The quality of credit card receivables of total banks that are not affiliated with universal and commercial banks stood better than that of banks together with their subsidiaries.

CARD Inc Issues 500 Million Notes

2009-09-02T07:17:00.002+08:00

CARD Inc., one of the country’s most successful microfinance institutions (MFI), has successfully issued P500 million worth of corporate notes in a deal that involved six major financial institutions.

The five-year, fixed-rate funding facility carries an interest rate of eight to 8.3 percent.

The debt issue involved three financial units of the SM Group of Companies - Banco de Oro Unibank Inc. (BDO), BDO Private Bank Inc. and BDO Leasing and Finance Inc. – along with Security Banking Corp., Allied Banking Corp. and Rizal Commercial Banking Corp. (RCBC).

SB Capital director Manuel C. San Diego said the groundbreaking debt issue was oversubscribed, and that more banks wanted to join the pool.

“We had to limit the players as too many lenders would dilute it into small amounts,” he said.

He said this shows the huge potential the landmark deal would attract other MFIs to undertake similar fund-raising exercises, adding that the transaction proved that the MFI sector is a viable market.

“It is a not a philanthropic activity, it is a viable commercial transaction,” he said.

CARD director for fund resources management Mary Jane A. Parreras said the amount raised would fund the company’s medium-term expansion plans, including branch expansion in the Visayas region and the full computerization of its operations.

Parreras revealed that CARD has an outstanding loan portfolio of P1.8 billion and total resources of P2 billion. It already has P697 million in loan distribution in the first semester of 2009.

CARD currently has 449,043 borrowers, all of which are women, with a loan default rate at just under two percent. It is allied with CARD Bank, a 30-branch rural bank, and the Rural Bank of Sto. Tomas (Batangas), both of which are involved in micro-lending.

The Washington-based foundation has a $60 million global facility for microfinance. Of that, approximately $7 million has been allocated for the Philippines in the form of guarantees and direct loans.

Source: Philstar original article, click here

Sarmiento: Coop NATCCO Filed Opposition to ATING KOOP Partylist

2009-08-31T11:52:00.005+08:00

Commissioner Rene Sarmiento of the COMELEC said in an interview that (of the 256 partylist applications) only one partylist application received a filing of opposition. He disclosed that Coop NatCCO had filed an opposition against ATING-KOOP. He however added that he was told that the parties have entered into a compromise.

"JUDGE THIS!!!"

One of my previous post that exposes something on YouTube. I copied and embed the video again

"coop-natcco party-list promises P1M" is the title of this in YouTube. I won't add anything to that instead watch and hear it and be the judge.

Listen carefully at 7:50 to the end of the talk and hear it for yourself.

B Fernando's Cash Gift from MMFF - Technical Malversation

2009-08-31T11:28:00.003+08:00

MMDA chairman Bayani Fernando has been the subject of an investigation by the Senate for receiving cash gift from the Metro Manila Film Ferstival’s executive committee. He was defended by MMDA Atty Emmanuel De Castro, assistant general manager for operations and concurrent head, MMDA’s Legal Service Department, cited that Article 220 of the Revised Penal Code defined that the act itself of receiving cash gifts does not constitute technical malversation.

“Technical malversation is the use of a public fund or property for any public use other than for which such fund or property were appropriated by law. How come there could be a technical malversation when the Metro Manila Film Festival’s executive committee did not use its funds intended for its beneficiaries,” De Castro asked.

Revenue of the film festival and fund-raising activities sponsorships and donations were the sources of the MMFF income. Atty de Castro said in Fernando’s case, the nominal amount given to him by the MMFF’s executive committee was sourced from the MMFF’s sponsorships and private donation. Fernando was not even aware of the deliberations of the MMFF’s executive committee on the grant of the honorarium to him, he said.

Source: Philstar Jose Rodel Clapano

How do we really say a transaction is subjected to technical malversation? If a public official receives some cash gift are they answerable to it? cash gift I should say would be different from his honorarium.

Hawaiian Punch Retains Title

2009-08-30T18:06:00.001+08:00

Brian “the Hawaiian Punch” Viloria fought until the very end to successfully defend his IBF junior flyweight champion against Jesus Iribe on Saturday (Sunday in Manila) at the Blaisdell Center in Honolulu, Hawaii.

The Filipino-American Viloria triumphed in his hometown via unanimous decision with the judges scoring 118-110, 117-112 and 117-111 in favor of him.

Philstar: RPs Rich Getting Richer! (and the Poor?)

2009-08-29T19:49:00.004+08:00

Forbes magazine edition released Aug 26, tagged Henry Sy as the country's richest person. 3.8 Billion net worth SM shopping malls appreciated 28% from last year.

25 other tycoons became richer, aside from Sy, the other moguls in the top 10 richest Filipinos include Lucio Tan ($1.7 billion), Jaime Zobel de Ayala ($1.2 billion), Andrew Tan ($850 million), John Gokongwei ($720 million), Tony Tan Caktiong ($710 million), Eduardo Cojuangco Jr. ($660 million), Enrique Razon ($620 million), Manuel Villar ($530 million), and George Ty ($515 million).

Forbes also reported that among the 40 richest in the Philippines, another big gainer was David Consunji, whose net worth increased from $105 million to $300 million after the stock price of his construction firm, DMCI, more than doubled.

The Sy's also control the top bank of the country - Banco De Oro (Universal Bank) network banks.

The gap now becomes farther and farther, as the rich become richer, the poor becomes poorer. There really is not enough justice where to few have too much and too many have too little. on the contrary if we have to ask ourselves is this their fault? Are we going to blame them that they get richer everyday and we get poorer each day? We can blame our selves, our leaders, or our government, but I believe this misery can best be taken as a challenge, yes the evidence is clear, social inequality has gotten deeper and deeper. It has deeply penetrated that some Filipinos seeing a hopeless Philippines and look opportunities somewhere.

Are we really hopeless? Can you suggest a solution in your own small way? 2010 is coming how should we select our leaders?

Rural Bank of Talisayan now RBT Bank Inc., A Rural Bank

2009-08-27T21:18:00.001+08:00

Last August 17, 2009 The Bangko Sentral ng Pilipinas (BSP) issued Circular Letter No. CL-2009-060 approving the Change of the Corporate name of the Rural Bank of Talisayan into "RBT Bank Inc., A Rural Bank).

The Circular Letter is signed by Deputy Governor, Nestor A. Espinilla Jr.

10 Billion Government Properties for Sale!

2009-08-24T21:42:00.002+08:00

Philippine - Government is set to sell at least P10 billion worth of real estate properties in 2010, according to Finance Secretary Margarito Teves.

Bilibid property in Muntinlupa, 18-hectare Ortigas property (held by the Presidential Commission on Good Government) and its real estate lot in Welfare Ville in Mandaluyong City. A word of caution some of these properties have pending administrative issues and Sec Teves said it could be larger than P10 billion once issues are resolved.

On the other hand, the government had hoped to raise only P2.5 billion from the privatization of government assets next year. Thus, the government is eyeing a total of P12.5 billion in revenue from privatization of state-owned assets.

The sale of these real estate properties is necessary as the government has raised next year’s budget deficit to P233.4 billion from P208 billion previously.

Consequently, the government raises targets of revenue generation by BIR (from P798 Billion to 875 Billion in 2010 or a 9.6% increase), the BOC (from P273 Billion to 309 Billion in 2010 or a 13.2% increase).

Now Take This...

Our government is justifying that the expected increase in the BIR’s tax take is due mainly to the expected improvement in the economy next year. qoute "EXPECTED" Improvement. Oh really?

Who would rather believe that these real estate sale could possibly be use to fund the election next year?

And how about this?

Earlier, The DBCC announced that the economy may grow anywhere from 2.6 percent to 3.6 percent in 2010, higher than the revised projected growth range for the year of 0.8 percent to 1.8 percent. Economic growth where? and the tag line... "Ramdam and Kaunlaran!" (Feel the Progress) well I say this in Bisaya "Ramdam ang Kaunloron!" (Feel the Sinking).Now let me hear what you have to say...

54th GA Approves By-laws Amendment, Stand-by Line

2009-08-19T22:16:00.002+08:00

The series of 16 branch assemblies held in two weekends, March 8, and March 14 and 15, 2009 unanimously approved the amendment of the By-laws of FICCO. With the approval of the amendment, business centers serving at least 1,000 members will be able to elect their own credit committee, and audit and inventory committee.

By having its own credit committee, a business center will be able to service the loan needs of its members faster. It will also reduce the cost, on the part of the members, of transacting business with FICCO. Thus, the members of the Lugait Business Center will no longer travel to Naawan Branch just to undergo interview with that branch’ CRECOM.

The amendment also allows the 1,000-member business centers to have their own audit and inventory committee. As the main function of the AIC is to protect the assets of the Coop, it is hoped that the presence of a watchdog body like the AIC at the business center level will ensure that transactions are above board and slippages are minimized.

A highly contested issue was GA resolution 2009-03 that will allow FICCO to establish a P 100 million stand-by credit line with either DBP or LBP. With FICCO’s highly liquid cash position, those against the resolution questioned the need to set-up the line. The resolution proponents explained that with FICCO’s drive to play catalytic and developmental roles that calls for infusion of funds, e.g. coop banks, COWD, the stand-by line will serve as a back up to ensure no disruption in FICCO’s operation.

The arguments posted against GA resolution 2009-03 seek to focus FICCO only to its existing services and devices. “We have grown slowly, without the need of external funding, so why do we borrow money now?” and “why do we need to rescue coop banks and water districts?” were the common refrain of those opposed to the resolutions. Those for the resolutions argue that as a leading coop, FICCO has a responsibility to take up the cudgels of those coops (and their members) in need of help. With FICCO’s proven systems, procedures and culture, it is very capable in taking up the challenges of helping others.

Given FICCOs cash position, it is hoped that the stand-by line will not be availed of but will merely serve as a psychological cushion assuring smooth operation of the Coop’s banking operation. GA resolution 2009-03 was approved by a vote of 21,312 for and 2,578 against.

Daba chairs FICCO

2009-08-19T22:15:00.001+08:00

Dir. Isagani B. Daba was elected FICCO Chairman, replacing the now National PFCCO Chair Atty. Proculo T. Sarmen. The Board reorganization was conducted last March 28, 2009 at the Little Theater, Xavier University, Cagayan de Oro City.

As FICCO Chair, Dir. Daba advocates the Building of an Integrated Coop Financial System (ICFS) with FICCO taking the lead role. The ICFS intends to build a strong National Coop Bank and supports a stable coop insurance, among other structures, that will ensure that the coop money circulates within the coop system.

In a separate interview with Rose Ferrer, FICCO's EDCOM Coordinator, the new set of officers for the following major task are; Enterprise Development, Dir. Cecille M. Laguna, chairman; Dir. Chito S. Yap, chairman; Risk Management, Dir. Percianita G. Racho, chairman; Asset Risk Recovery, Dir. Jesus G. Cornito, chairman; Asset Management, Dir. Eduardo E. Sambaan, chairman; and IT and Communications, Dir. Ricky C. Cagalawan, chairman.

For Good Governance and Political Action, the officers are; Dir. Fermin V. Jarales, chairman; Dir. Jesus G. Cornito, member; MAF, Dir. Arturo R. Albamia, chairman; Bids and Awards (for the committee to come up with policies and guidelines, purchase beyond the specified shall be submitted for BOD('s) approval, Mr. Nicholas Veronilla, overall chair; Dir. Fermin V. Jarales, member; RM Elmo C. Bautista, member. Branch Committee Bids and Awards officers are; AIC chair of the branch, Chairman and the members are the Management Representative of each branch and BOD in the area.

A new set of Board Resolutions were presented and approved during the said event, one of it is the approval of the scholarship grant to incoming college students who belongs to top 10 students during their High School graduation.

FICCO Scholarship

2009-08-19T22:14:00.002+08:00

FIRST COMMUNITY COOPERATIVE (FICCO) deals not only with economic benefits to the society but will now be offering scholarships for fresh high school graduates for the incoming first semester school year 2009-2010. This was approved by the Board of Directors during its regular board meeting held last April 18, 2009 per BOD resolution no. 130. Applicants will need to possess and submit the following requirements:

* Applicant shall belong to the Top 10 of the graduating class duly certified by the principal;

* Must have a weighted average of not less than 90% but with no grade below 85%;

* Parent’s combined annual income shall not be more than P120,000, provided, subject to background investigation to be done by any FICCO staff upon request;

* Applicant must be of good moral character; and

* Applicant’s parent/guardian must be a member of good standing with FICCO.

Out of the total applicants, FICCO will be selecting two (2) applicants whi will qualify from the screening that they will be conducting during the month of May (TBA). Selected scholars will be allowed to pursue the priority courses: Accountancy (BSA) and Information Technology (BSIT). One-slot is available for each course. Interested applicants may submit their requirements to: FICCO Main office, HR Department, c/o Ms. Hazel Abrogar.

FICCO's Prudential Planning

2009-08-19T22:11:00.002+08:00

Reaching the summit of perfect existence in collaborative financial business, requires efficiency in showing care and forethought of the years to come.

Provident thrift

FICCO had gone through it and proven such for 54 long glorious years. Its secret--diligence and consistency in being thrift. In our own native language, we call it "kuripot" or "inot". It sounds nice to some, to some maybe jocular, but this is how the cooperative had survived and had helped many families and businesses. Prudent, or the act of showing care and thought for the future is the right term why FICCO had existed for fifty-four years.

3 billion mark

While the world suffers from extreme financial meltdown, FICCO's careful prudential planning architectures a state of liberation from this recession. FICCO had escaped this second great global recession which traced back in 1929 the hardest hit, when the world was in distress from the devastating effects of economic downturn. As of end of 2008's financial calendar to the beginning of 2009, the coop hit the P3 billion dot. Yes a mere three-billion peso mark in assets with a benefited-members of over a hundred thousand across the southern island of the Philippines. It had uplifted many businesses through its *0.75% interest per month scheme or less than 1%--the lowest interest in all of the open-type coops in the Philippines.

Saving and Tender Care

Through its education committee, members are taught on the value of saving. Its staff and officers working inside its corresponding branch and business centers play the lead role of a providential prudent member. They always suggest loan for a productive use. They are keen in qualifying a member who religiously saves money, because these kind of people will help protect the existence of the cooperative. A prudent example, produces prudent members and the cycle continues.

Sympathetic stewardship

Today, the board recently extended compassionate concern to its members by removing the withholding tax on **savings and time deposits. More interest from deposits can now be gained. It is the right time for to open one now.

You can be rich

Director Isagani B. Daba, vice-chair of FICCO for 2008-09 once said that the meaning of the word saving is money received minus deposit equals expenses. He means that save first before you spend. Example you are an employee receiving regular salary, the first step to do is to cut a portion of your salary for deposit and the remaining portion is for expenses. By religiously doing this, you won't notice your money had gone far beyond what you expect. Say you are a minimum wage earner, you save P1,000.00 for a 15-day salary, in the month, you have P2,000.00 and in a year you have P24,000.00. By joining FICCO, you learn its culture, the habit of saving money.

United in one goal

To help is the basic goal of FICCO. By increasing its assets, more Filipinos benefit from its prudential education curriculum--to save for productivity. To assist members financially for productivity.

*based on the 1 year loan category of 9% interest per annum

**based on 54th annual general assembly report

To Serve is an Opportunity

2009-08-19T22:07:00.003+08:00

"Many Are CAlled But Few Are Chosen"
Twelve years ago, this corner came out with an article of the same title. That article shared some insights gained from a Holy Week retreat, a retreat that centered on the Good Samaritan's deed's vis-a-vis a victim of robbers, in contrast to the reactions and actions of the Priest and the Levite. Recall that Jesus told the parable of the Good Samaritan in response to the question, "Who is my neighbour?" by a teacher of the law.

The article reads: “Both the priest and the Levite were holy men, but compassion was absent in their hearts. In contrast, the Samaritan, who is supposed to be an outcast of society at that time, responded to the need of the victim and even went beyond just providing first aid.

The story actually did not end when Jesus was able to force the teacher to discard his own biases against outcasts. He challenged him to put God’s commandment into practice. Actually, Jesus, on the night He was betrayed, refined further the commandment by changing the measure by which we love one another. From using as basis the way we love ourselves, He teaches us to love others the way He loves us. And what greater love is there…

Reflecting on all these, my mind shifted to the role volunteers play in a coop. I have always maintained that volunteers give coops the competitive advantage. Can you imagine how coops will price its services if their officers’ honorarium is high?

And my mind went to the next question: How much should coops remunerate their volunteers? What is enough? If we go by the original concept of coop volunteers, they get no pay. They are just reimbursed of actual expenses incurred in pursuing coop business. Coops in Western countries, and in South Korea still practice this.

This corner always stands for an honorarium that approximates a volunteer’s actual cost in pursuing coop business. Anything beyond is no longer volunteerism. The argument that our coop is already big and can afford to pay bigger honoraria is over-stretching the meaning of volunteerism.

The other arguments why we should not pay extra to our volunteers are: a) volunteers volunteered to serve; they were never hired; b) the extra honorarium is an attraction to those who are not really out to serve, sometimes easing out those who really have service in their hearts; c) dissensions happen prompted by desires to get the or cling to positions because of high honorarium; and last but not least, d) to serve is actually an opportunity to serve God in others.

Let me just dwell on the last argument. All of us are called to serve, to extend ourselves to others, and to be good Samaritans. Serving the coop therefore, without pricing our services beyond what is necessary is an opportunity. And very few are actually given that chance. The priest and the Levite were offered the chance to serve God beyond rituals but turned it down. The good Samaritan, despite being an outcast, grabbed the chance and earned God’s favor.”

With a new set of officers assuming the leadership mantle in our coops, it is good to revisit the importance of volunteerism to coops. It was already pointed out that volunteerism is the competitive advantage of coops. The absence of real volunteers leads coops to fall prey to opportunists. Decay follows.

In a recent gathering of coop leaders in Manila, one well-meaning national leader stated, matter-of-factly, that it is important to give good honorarium to coop leaders. “If you give peanuts,” he said, “you will attract monkeys.” To this, one of the participants retorted: “If you give cheesecakes, you will attract mercenaries.” The laughter that followed the witty exchange ushered in a deeper realization on the part of everyone in that meeting of the importance of real volunteers to coop stability and growth.

Excessive campaign spending, even vote buying, are now present in many coop elections. Some are prompted by the prestige that comes with leadership. Others hope to use the coop as springboard to capture political positions. Still others just want to have the position, including the opportunity to travel, even if they offer nothing to justify his/her pursuit of it. Worse are those who just want the honorarium. Of course, all of them readily proclaim that they want to serve.

The aforesaid motivations of aspiring leaders surely clash with coop values that call for selflessness, service, good governance, volunteerism, and sacrifice. The sad thing that could happen is when the real volunteers, usually laid back people, recoil from the aggressiveness of the opportunistic aspirants and withdraw or just give way. The coop movement ends up the loser.

The same thing is happening in our country’s political governance, at all levels. Well meaning people with the heart to serve are reluctant to run for positions. Even if they have money, they are not willing to spend to buy votes. Their principles limit their actions. But the buayas will always be at the forefront in vote buying and cheating knowing that they can easily recoup their expenses once elected.

Let us all pray that our coops will not fall into the hands of mercenaries or opportunists. Let us watch the actions/actuations of those who are now in leadership positions, even as we pray that they will realize that to serve is an opportunity. Let us hope that they will recognize that they are now important building blocks in the building of God’s Kingdom here on Earth.

To coop volunteers, we see how those less in life struggle amidst the exploitations that abound. We can be just like the Priest or the Levite concerned only of our own needs and ignore them. Or we can be Good Samaritans by making sure our coops are refuge of those in need at affordable cost by becoming real volunteers.

This is something we can look back to with pride as we relate our contributions to our grandchildren. Let that realization be our just reward for the services rendered to the coop.

This article started with a biblical quote as sub-title addressed to coop volunteers. We are in the season of lent, so let us end with another, this time addressing both the coops and the volunteers. “Those who can be trusted with small things can be trusted with bigger things.”

Here’s hoping that we will all have a deeper appreciation of the meaning of the passion, death and resurrection of Christ this Lenten season. Only through that that we can have a real HAPPY EASTER.
by: Isagani B. Daba

Noli's Pagibig Infor-mercial Justified?

2009-08-16T11:35:00.003+08:00

The Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund chairman Noli De Castro boast to leave legacy of accomplishments in both agency under his leadership. He was caught up further saying “I will step down in 2010 with accomplishments and nobody could question them,” over his radio program “Para sa Iyo, Bayan”. He made the statement after his appearance before the Senate hearing investigating the “info-mercials”of Cabinet officials last Friday.

The info-mercials is said to have spent 172 million on advertisements was commented by Sen. Loren Legarda that it could have been spent on low-cost housing and in addition quoted “Nobody has a monopoly of talent and voice in this country,”. Sen. Loren Legarda, losses over De Castro in 2004 for vice president.

Conversely, HDMF (Pagibig Fund) Chief Executive Officer (CEO) Jaime Fabiana defended the P 172 million to bring upon positive results in the Pagibig fund operation saying it brought a total of P 78 billion housing loan approvals. The ads expenditure comprises only around one-fifth of one percent in terms of total housing loan approvals, the CEO quoting it as conservative.

De Castro came out to be instrumental in the pick up of the 6 percent interest rate reduction campaign, and did not receive a single centavo in the info-mercials.

Figures presented by CEO includes greater income for Pag-IBIG – P7.3 billion in 2007, P9.5 billion in 2008, and in 2009, on track to make P11.5 billion.

It is to be noted that Sen. Miriam Defensor-Santiago, initiated the investigation over the increasing number of infomercials being aired featuring Cabinet members who are perceived to be presidential candidates. De Castro quoted “I never promoted myself because I have been promoted,” and he said his predecessors in the HUDCC and Pag-IBIG also appeared in the television ads.

So tell me what you think? Is the advertisement justified?

Source: Philstar News

FICCO New Set of Officers 2009-2010

2009-04-05T18:15:00.003+08:00

Chairman: Isagani B. Daba

Vice-Chairman: Cecilia M. Laguna

Members:

Percianita Racho
Eduardo Sambaan
Jake Cornito
Fermin V. Jarales
Chito Yap
Ricky Cagalawan
Arturo R. Aldamia

54th FICCO Annual General Assembly Pics

2009-03-30T15:33:00.004+08:00

View from Gym entrance

Registration Area

Opening Prayer

FICCO 54th Annual General Assembly

2009-03-14T15:22:00.004+08:00

This is the cover page of the 54th FICCO Annual Report.

The theme for this year is "Forging On Amid The Meltdown" (Padayon sa Pag-asdang Tiliwala sa Kalisdanan).

The 128 pages Annual Reports details the FICCO's reports to the General Assembly.

Table of Contents

2009 General Asembly Schedule
Chairman's Message
Annual General Assembly Program
List of Elected and Appointed Officers in 2008-2009
List of Managers
List of FICCO Staff
Minutes of the 23rd Annual General Assembly
Consolidated Board of Directors Report
Consolidated Loan Releases
Budget - Asset and Liability Target
Budget - Statement of Operation
Budget - Capital Outlay
Mutual Aid Fund Report
Education Committee Report
Audit and Inventory Committee Report
Audited Financial Statement
Summary of Acquired Assets

Also included but not printed on the Annual Reports is the Mutual Benefit Association Report.

DEMOCRACY?

2009-03-09T22:31:00.004+08:00

Posted by Enteng Romano at eLagda – 06 March 2009

This year’s EDSA anniversaries (both I and II) will best be remembered for its non-celebration. Thanks to GMA who not only downplayed it, but trivialized it.

I agree with FVR, who was visibly irked with the non-appearance of GMA and vanishing trick of VP Noli, when he said, “What appointment could be more important on this day (February 25) than the commemoration of the restoration of democracy?”

But then, you have to ask, “What democracy?”

Is there any Filipino who still doubts that GMA spoke to Garci? Even GMA herself tacitly admitted it when she said, “I am sorry.” The Garci tapes contained damning pieces of wiretapped phone conversations. In one, GMA asked Garci to guarantee a 1 million winning margin. In another, they talked about the abduction of a teacher to silence her. The most natural thing to resolve this was for Congress to go through impeachment to either clear or find GMA culpable. But they found the complaint insufficient in substance and dismissed it. They have reduced the issue to a numbers game. In succeeding years, a Malacanang stooge would file a bogus impeachment complaint to immunize her for at least a year. They have prostituted the process and reduced it to power play.

Is there any Filipino who still doubts that COMELEC officials colluded with suppliers to defraud the government of billions of pesos in the election automation project? The Supreme Court itself declared so and directed the Ombudsman to run after the culprits. But the Ombudsman exonerated them leading to a situation where you have a crime without criminals. They defied the Supreme Court and got away with it.

Is there any Filipino who still doubts that Abalos, FG, and GMA are involved in the NBN-ZTE scandal? A picture is worth a thousand words, and a picture with the three of them golfing at the ZTE headquarters in China says a lot, especially since the ZTE project was quickly changed from a BOT to a government-to- government contract soon after the game. Besides, how do you explain GMA’s trip to China, “coming and going like a thief in the night” (Malacanang Press Office’s own words) to seal the ZTE contract as witness, doing the signing at the airport, breaking all diplomatic protocols? And yet, no charges have been filed against any of the principal players, even after GMA admitted that she belatedly knew of the irregularity. In contrast, Jun Lozada and his wife Violet have 10 live court cases against them. They have perverted the justice system, using the agencies of justice to persecute anyone who dare go against them.

Is there any Filipino who still doubts that GMA distributed money to congressmen, mayors and governors at Malacanang in November 2007 to buy their support? Among Ed Panlilio himself showed the money and an ABS-CBN news footage showed Congressmen leaving the meeting with loot bags similar to the one given to Among Ed. If it is true that GMA was truly unaware of the dole-outs, then you would expect that the Taray Queen would unleash her wrath on whoever was behind it for doing it right under her nose and making her look like a fool. Nothing of that sort happened. KAMPI – the president’s own party, owned up to the cash bonanza, and no one was ever charged, reprimanded, or even slapped in the wrist. They think all Filipinos are dumb to accept such a tall tale.

Is there any Filipino who still doubts that Jocjoc Bolante architected the fertilizer scam, with the blessings of his patrons? Two independent Senate investigations concluded so and recommended the filing of plunder against him. But the Ombudsman is taking its sweet time in filing the charges. Under public pressure to catch a big fish, the Ombudsman hurriedly filed graft charges against Neric Acosta of Bukidnon – a known critic of GMA. Ooooppps. Wrong aquarium. What the public wanted was a big fish from the Palace aquarium where there are plenty of sharks. They must think plunder is a joke. That explains why they pardoned Erap so soon.

Is there any Filipino who still doubts that FG is involved in the rigging of road projects? The World Bank Department of Institutional Integrity concluded so, and they had two witnesses who attested to it. But FG could not attend the Senate hearings. He has a heart condition and to testify would be too stressful. (And a round of golf with millions of pesos at stake is not?) They have just set a precedent in jurisprudence. Henceforth, all accused with heart conditions cannot be compelled to testify. They can either check in or get a certificate of exemption from St. Luke’s Hospital. They must think they’re above the law.

Of course, they invoke due process and rule of law as their refuge. For such are the ways of democracy. Well... they have succeeded in perverting democracy to a point where you can hardly recognize it.

I think this nation is long overdue for a change. Even the administration agrees. But the kind of change they espouse – charter change, is really just a ruse to extend their terms and perpetuate themselves in power.

No, more than change, this nation is long overdue for a revolution. And I think it will happen soon, through the ballot or by the bullet.

The signs are clear.

The judiciary was designed to play a passive role in governance, acting only on pleadings presented before it. But when you see a Chief Justice proactively initiating reforms on human rights and leading a Moral Force movement, you know something is wrong with the system.

When you have the two chambers of Congress competing with each other in leading investigations of never-ending scandals – the lower chamber to insulate its patron at the palace, and the upper chamber to provide a stage for its presidential aspirants… you know that they will come to a head sooner or later.

When you read a full page ad by associations of retired and active officers declaring that they are united behind an incarcerated comrade, you know that something more than just a senatorial bid is brewing.

When you view all of these against a backdrop of hundreds of thousands of Filipinos losing their jobs, and hundreds of thousands of families moving below the poverty line… the old palace line that they are working hard on the economy supported with their fudged numbers simply will no longer cut.

And when you factor in the people’s sentiment about their president – 46% disapproval and 45% distrust ratings, you know you have a powder keg just waiting for the fuse to be lit.

The political equilibrium is precariously unstable brought about mostly by the abuses and excesses of the ruling class. The inviolable law of physics is finally catching up with them… for every action, there is an equal and opposite reaction.

The Americans bought into Obama’s promise of “change we can believe in.” I think the Filipinos will buy into anybody’s promise of “change we can live with.” I still remember how people rushed to the side of government to defend democracy during the Oakwood mutiny. Is there any Filipino who still doubts which side people will rush to, this time around?

Are there Filipinos who still care about democracy? Many. But not the farce that we see today. We all yearn for the one that is of the people, by the people, and for the people.

Panahon na para sa pagbabago. Now na!

----- Forwarded Message ----
From: enteng romano
To: pshs72@yahoogroups.com; kappaep@yahoogroups.com; ph-humanities@yahoogroups.com; ang_bagong_pinoy@yahoogroups.com; egolfers@yahoogroups.com
Cc: moral-majority@yahoogroups.com; moral-majority-forum@yahoogroups.com
Sent: Friday, March 6, 2009 4:40:38 PM
Subject: [Moral-Majority] DEMOCRACY?

Fw: [Moral-Majority] DEMOCRACY?
Monday, March 9, 2009 9:07 AM
From:"Gani & Tessie Daba"
To:"ficco main chief accountant"
Cc:"Rene Michael Banos"