Business
High School Cooperative Earns P860T
A local high school cooperative here reported a sustainable and growing institution when it reported an earning of P860, 822 in 2017.
During its 19th annual general membership assembly, Handumanan Faculty and Community Multi-Purpose Cooperative (HFCMPC) president Ellen Donoso reported a net income of P860,822 after grossing P1.7 million.
Total asset of the organization is now more than P11.9 million, she added.
“From a humble beginning with only P5,000 as a total contribution from its 50 members, HFCMPC have indeed come a long way and showed that success can be easily achieved,” she said.
The HFCMPC now has about 107 members – 87 regular members and 20 associate members. The cooperative offers a variety of services but mostly it caters to the credit needs of the members.
Cooperative Development Specialist Sandra Siaton urged the members to be active in all their cooperative activities and support capital build-up.
She said members’ loyalty to the organization sustained the cooperative which is essential in its growth.
Meanwhile, Brenda Burdeos, City Cooperative and Livelihood Development Office Chief challenged the cooperative to organize a youth laboratory cooperative to expand membership to the community and create more cooperative projects. (LTP/Lljr-PIA6)
