Government of Laoag Employees Development Cooperative       SUCCESS STORY / BEST PRACTICES             Management’s Report...
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Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative       SUCCESS STORY / BEST PRACTICES             Management’s Report...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative              SUCCESS STORY / BEST PRACTICES                    Manag...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report  ...
Government of Laoag Employees Development Cooperative             SUCCESS STORY / BEST PRACTICES                   Managem...
Government of Laoag Employees Development Cooperative            SUCCESS STORY / BEST PRACTICES                  Managemen...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report  ...
Government of Laoag Employees Development Cooperative            SUCCESS STORY / BEST PRACTICES                  Managemen...
Government of Laoag Employees Development Cooperative          SUCCESS STORY / BEST PRACTICES                Management’s ...
Government of Laoag Employees Development Cooperative          SUCCESS STORY / BEST PRACTICES                Management’s ...
Government of Laoag Employees Development Cooperative       SUCCESS STORY / BEST PRACTICES             Management’s Report...
Government of Laoag Employees Development Cooperative            SUCCESS STORY / BEST PRACTICES                  Managemen...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report  ...
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Government of Laoag Employees Development Cooperative          SUCCESS STORY / BEST PRACTICES                Management’s ...
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Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
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Government of Laoag Employees Development Cooperative              SUCCESS STORY / BEST PRACTICES                    Manag...
Government of Laoag Employees Development Cooperative             SUCCESS STORY / BEST PRACTICES                   Managem...
Government of Laoag Employees Development Cooperative                 SUCCESS STORY / BEST PRACTICES                      ...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
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Government of Laoag Employees Development Cooperative              SUCCESS STORY / BEST PRACTICES                    Manag...
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Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report  ...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative              SUCCESS STORY / BEST PRACTICES                    Manag...
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Government of Laoag Employees Development Cooperative             SUCCESS STORY / BEST PRACTICES                   Managem...
Government of Laoag Employees Development Cooperative             SUCCESS STORY / BEST PRACTICES                   Managem...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report
Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
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Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
Government of Laoag Employees Development Cooperative         SUCCESS STORY / BEST PRACTICES               Management’s Re...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report  ...
Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
Government of Laoag Employees Development Cooperative              SUCCESS STORY / BEST PRACTICES                    Manag...
Government of Laoag Employees Development Cooperative               SUCCESS STORY / BEST PRACTICES                     Man...
Government of Laoag Employees Development Cooperative             SUCCESS STORY / BEST PRACTICES                   Managem...
Government of Laoag Employees Development Cooperative      SUCCESS STORY / BEST PRACTICES            Management’s Report  ...
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Gledco: Top Performing Cooperative in Ilocos Region

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Regional Gender Summit on Cooperatives
MMSU Teatro Ilocandia
City of Batac
October 5, 2012

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Transcript of "Gledco: Top Performing Cooperative in Ilocos Region"

  1. 1. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportGLEDCO Top Performing Cooperative in Ilocos Region A Lecture Presentation during The Regional Gender Summit in Cooperatives MMSU Teatro Ilocandia City of Batac, Ilocos Norte October 4-5, 2012
  2. 2. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportThe Birth of GLEDCO On Nov. 29, 2001, twenty (20) cooperators with onehundred forty-five (145) members agreed to form acooperative, with the following main objective:Primary: To create funds in order to grant loans for productive and providential purposes to all members who are employees of the City Government of Laoag. Authorized Capital Stock: Amount P 1,744,000 Shares 3,488 Financial Highlights Subscribed Capital Stock: –Nov. 29, 2001 Amount 436,000 Shares 872 Paid-in Capital / Assets 125,000 # of Original Members 165
  3. 3. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  4. 4. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report CDA Approval LOGO / SEAL The Cooperative Development Authority approved theCertificate of Registration (DAG-4458) of GLEDCO on January 22, 2002.
  5. 5. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  6. 6. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Year Amount Increase % 11/2001 125,000.00A 2002 6,709,747.89 6,584,747.89 5267.80%S 2003 21,540,721.72 14,830,973.83 221.04%S 2004 36,434,224.76 14,893,503.04 69.14% 2005 48,825,704.39 12,391,479.63 34.01%E 2006 69,262,209.93 20,436,505.54 41.86%T 2007 93,240,818.97 23,978,609.04 34.62%S 2008 121,802,769.87 28,561,950.90 30.63% 2009 150,375,938.07 28,573,168.20 23.46% 2010 174,231,554.63 23,855,616.56 15.86% 2011 248,502,648.97 74,271,094.34 42.63%
  7. 7. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Increase in Assets by P 74.271 M Compared Overshoot to 2012 2011 level target by P 48.53 M
  8. 8. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Capitalization Authorized Capital Share Subscribed Capital Share Membership Date Amount # of Shares Amount # of Shares Fee1/22/2002 1,744,000.00 3,488 2,000.00 4 100.001/25/2003 20,000,000.00 40,000 5,000.00 10 300.001/01/2004 20,000,000.00 40,000 5,000.00 10 500.001/22/2006 50,000,000.00 100,000 10,000.00 20 1,000.001/27/2007 100,000,000.00 200,000 10,000.00 20 1,000.003/28/2009 150,000,000.00 300,000 10,000.00 20 1,000.005/02/2011 250,000,000.00 500,000 10,000.00 20 1,000.00
  9. 9. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Year Amount Increase % 11/2001 436,000 2002 1,744,000 1,308,000 300.00% 2003 7,919,000 6,175,000 354.07% 2004 12,009,000 4,090,000 51.65% Subscribed 2005 17,781,000 5,772,000 48.06%Capital Shares 2006 36,984,000 19,203,000 108.00% 2007 61,731,000 24,747,000 66.91% 2008 92,038,000 30,307,000 49.10% 2009 110,411,000 18,373,000 19.96% 2010 126,845,500 16,434,500 14.88% 2011 152,464,500 25,619,000 20.20%
  10. 10. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Subscription increased by P25.619M (20.20%) compared to 2010 level. Total Authorized Capital Shares is P250M. Common Preferred Shares Shares P 126,595, 500 P 25,865,000
  11. 11. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportP Year Amount Increase %A 11/2001 125,000.00I 2002 1,278,334.24 1,153,334.24 922.67%D 2003 4,978,464.23 3,700,129.99 289.45% 2004 8,784,339.39 3,805,875.16 76.45%- 2005 14,295,920.87 5,511,581.48 62.74%U 2006 21,058,302.71 6,762,381.84 47.30%P 2007 31,686,743.41 10,628,440.70 50.47% 2008 40,595,776.99 8,909,033.58 28.12%S 2009 49,635,079.60 9,039,302.61 22.27%C 2010 60,143,076.57 10,507,996.97 21.17% 2011 75,280,000.00 15,136,923.43 25.17%
  12. 12. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report BreakdownCommon Shares 59,290,000Preferred Shares 15,990,000Total 75,280,000
  13. 13. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Year Amount Increase % 2002 3,776,315.22 2003 12,284,934.35 8,508,619.13 225.32% 2004 19,788,422.21 7,503,487.86 61.08% 2005 25,550,533.44 5,762,111.23 29.12%Time Deposits 2006 40,555,458.23 15,004,924.79 58.73% 2007 52,134,038.00 11,578,579.77 28.55% 2008 67,960,568.06 15,826,530.06 30.36% 2009 85,602,735.61 17,642,167.55 25.96% 2010 94,364,770.59 8,762,034.98 10.24% 2011 141,996,906.41 47,632,135.82 50.48%
  14. 14. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Breakdown # of Accts Amount Regular Members 144 72,967,026.20 Time Deposits Associate Members 170 69,029,880.21 increased by Total 314 141,996,906.41 P47.632 million (50.48%) compared to 2010 level.
  15. 15. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportP PhP / In MillionsR 2011 2010 Year AmountO 2002 8.815 Quarter Amount # of Accts. Amount # of Accts.CE 2003 30.110 1st 42.409 657 40.773 957S 2004 37.057S 2005 46.080 2nd 39.906 1,026 24.151 609E 2006 61.650 Sub-Total 82.315 1,683 64.924 1,566D 2007 71.590 2008 88.181 3rd 63.422 1,370 36.547 942L 2009 112.277 4th 39.945 825 30.910 737O 2010 132.381A Sub-Total 103.367 2,195 67.457 1,679 2011 185.682NS Total 773.823 Grand Total 185.682 3,878 132.381 3,245
  16. 16. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Total loans for 2011 increased by P53.30 million (40.26%) compared to 2010 level Number of loans processed increased by 633 (19.51%).
  17. 17. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportP 2 0 11 2 0 10 C ha nge sR P a rt ic ula rs A m o unt % A m o unt % %O C o ns o lida t e d 5 9 .15 0 31.86% 4 5 .5 9 0 34.44% 13 .5 6 0 29.74%C R e gula r 3 1.6 4 8 17.04% 3 1.115 23.50% 0 .5 3 3 1 % .71 A ll P urpo s e 2 1.7 7 4 1 .73% 1 13 .9 6 5 10.55% 7 .8 0 9 55.92%E P etty C ash 14 .2 4 2 7.67% 8 .5 5 3 6.46% 5 .6 8 9 66.51%S M o ne t iza t io n ( B o nus ) 8 .7 4 7 4.71% 7 .2 7 5 5.50% 1.4 7 2 20.23%S C he c k R e dis c o unt ing 14 .6 4 8 7.89% 9 .0 4 9 6.84% 5 .5 9 9 61.87%E H o us ing 2 2 .3 4 1 12.03% 3 .4 0 0 2.57% 18 .9 4 1 557.09% B uy- o ut ( G F Is ) 0 .9 0 3 0.49% 2 .0 8 6 1.58% - 1.18 3 -56.71%D B us ine s s 0 .5 5 0 0.30% 0 .7 0 0 0.53% - 0 .15 0 -21.43% C ar 1.9 3 5 1.04% 1.2 0 0 0.91% 0 .7 3 5 61.25%L A pplia nc e 0 .9 9 5 0.54% 1.3 6 5 1.03% - 0 .3 7 0 -27.1 % 1O C a la m it y 4 .2 4 5 2.29% 2 .0 15 1.52% 2 .2 3 0 1 0.67% 1 E xpre s s Lo a n 1.3 5 1 0.73% 0 .6 7 5 0.51% 0 .6 7 6 100.15%A G - C a rd 3 .0 3 5 1.63% 5 .2 5 3 3.97% - 2 .2 18 -42.22%N R ic e 0 .118 0.06% 0 .14 0 0.1 % 1 - 0 .0 2 2 -15.71%S T o tal 18 5 .6 8 2 100.00% 13 2 .3 8 1 100.00% 5 3 .3 0 1 28.71%
  18. 18. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Market Share - Loan Releases 2011 2010 Changes Agency Amount % Amount % Amount %GLEDCO 185,682,104 97.05% 132,381,389 95.59% 53,300,715 40.26%GSIS 4,834,743 2.53% 5,059,768 3.65% (225,025) -4.45%PAG-IBIG 803,908 0.42% 1,050,150 0.76% (246,242) -23.45%DBP 0 0.00% 0 0.00% 0 0.00%TOTAL 191,320,755 100.00% 138,491,307 100.00% 52,829,448 38.15%
  19. 19. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report GLEDCO gets thebiggest market share with an increase ofP53.301M or 40.26% in 2011 while the other GFIs’ share decreases.
  20. 20. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Market Share - Loan Remittances 2011 2010 ChangesAgency Amount % Amount % Amount %GLEDCO 136,697,848 97.77% 113,085,987 97.16% 23,611,861 20.88%GSIS 2,533,198 1.81% 2,658,908 2.28% (125,710) -4.73%PAG-IBIG 579,120 0.41% 637,276 0.55% (58,156) -9.13%DBP 0 0.00% 11,534 0.01% (11,534) -100.00%TOTAL 139,810,166 100.00% 116,393,705 100.00% 23,416,461 20.12%
  21. 21. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report increase remittance level by P23.612 million (20.88%) in 2011 compared to 2010.Other GFIs occupy only a minimalshare in the market.
  22. 22. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Gross Income from LoansYear Amount Increase %2002 762,507.502003 2,825,610.86 2,063,103.36 270.57%2004 4,664,442.16 1,838,831.30 65.08%2005 7,022,542.67 2,358,100.51 50.55%2006 8,935,512.36 1,912,969.69 27.24%2007 10,699,807.95 1,764,295.59 19.74%2008 13,883,855.29 3,184,047.34 29.76%2009 17,182,338.73 3,298,483.44 23.76%2010 20,843,562.14 3,661,223.41 26.37%2011 25,905,787.29 5,062,225.15 29.46%Total 112,725,966.95
  23. 23. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportGross Income 2010 2011 Particulars Amount % Dist. Amount % vs 2010 % Dist.Loans 20,843,562 70.18% 25,905,787 124.29% 69.57%Raffle draws 7,156,297 24.10% 8,524,821 119.12% 22.89%Insurance (LPP) 331,606 1.12% 484,718 146.17% 1.30%Pharmacy / Grocery 455,162 1.53% 547,573 120.30% 1.47%Canteen 167,829 0.57% 139,034 82.84% 0.37%Printing Services 309,291 1.04% 708,120 228.95% 1.90%Loading Business 36,116 0.12% 10,375 28.73% 0.03%Membership fees 97,125 0.33% 570,475 587.36% 1.53%PLDT / Cellcards 29,912 0.10% 26,925 90.01% 0.07%Interst (Bank) 47,228 0.16% 58,241 123.32% 0.16%Philam Life 3,127 0.01% 2,596 83.02% 0.01%Others 220,817 0.74% 256,540 116.18% 0.69%Total 29,698,072 100.00% 37,235,205 125.38% 100.00%
  24. 24. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Annualized Income (Estimates)– P32.376 million. Gross Income is higher by P4.859 million against 2011 target and higher by P7.537 million against 2010 actual performance
  25. 25. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report 2011Net Surplus / Dividends Net Surplus (per FS) 9,160,982.49 Year Net Surplus Dividends 2002 581,787.04 465,429.63 Members Benefits 11,348,569.96 2003 2,187,121.40 1,749,597.12 Actual Net Surplus 20,509,552.45 2004 4,196,614.65 3,357,291.72 Projections 15,713,238.52 2005 5,103,905.87 4,082,813.50 Increase 4,796,313.93 2006 6,237,615.29 5,381,783.81 2007 7,422,316.78 6,722,130.91 Dividends (per FS) 6,870,736.86 2008 9,035,035.47 8,237,872.25 Members Benefits 11,348,569.96 2009 11,790,549.22 10,979,918.70 2010 15,815,957.69 14,728,651.26 Actual Dividends 18,219,306.82 2011 20,509,552.45 18,219,306.82 Projections 14,659,928.89Total 82,880,455.86 73,924,795.72 Increase 3,559,377.93
  26. 26. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report We exceeded:25000 1 2011 Net Surplus Target by P4.796M20000 2 2010 Net Surplus by P4.694M 3 2010 Dividends by P3.491M1500010000 5000 0 2002 2004 2006 2008 2010 Net Surplus Dividends
  27. 27. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  28. 28. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
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  30. 30. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
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  32. 32. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  33. 33. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
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  35. 35. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  36. 36. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportBest Practices … 1. Very Supportive Local Chief Executive / Legislative Department of the City Government of Laoag. City Resolution # 2002-007, Series of 2002
  37. 37. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportCity Resolution # 2002-007, Series of 2002 Resolution Conferring Official Recognition to the Government of Laoag Employees Development Cooperative (GLEDCO). Section 2 The City Government shall allow the free use of any available space/facilities in the regular conduct of its operations in consonance with Section 2 Article 63 of R.A. 6938 … Section 3 The City Government shall allow the deduction of such amounts from the payroll in consonance with Sections (1), (2) and (3) under Article 59 of R.A. 6938 …
  38. 38. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportRA 9520, Art. 27, # 3 - Government Officers & Employees …. Any government employee may, in the discharge of hisduties as member in the cooperative, be allowed by the head ofoffice concerned to use official time for attendance of thegeneral assembly, board and committee meetings ofcooperatives as well as cooperative seminars, conferences,workshops, technical meetings and training courses locally orabroad; Provided, That the operations of the office concernedare not adversely affected.RA 9520, Art. 62 # 2 - Privileges of Cooperatives Cooperatives organized among government employees,notwithstanding any law or regulation to the contrary, shallenjoy the free use of any available space in their agency, whetherowned or rented by the government.
  39. 39. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportCity Resolution # 2010-002, Series of 2010 Resolution Declaring January 22 of each year asGLEDCO Day in the City of Laoag.
  40. 40. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportBest Practices … 2. Commitment to Good Governance in its day to day operations by Dedicated Officers and Management Staff. a) Regular conduct of general / mid-year general assemblies. b) Conduct of mid-year and year-end assessment and planning conferences. c) Regular conduct of two (2) board meetings a month. d) Conduct of monthly / weekly meetings with Management Staff. e) Conduct of monthly PMES (We have our own trainors). f) Monthly financial statements are posted at bulletin boards / distributed to different offices. g) Monthly / Annual Performances are compared against Targets as set forth in the approved Annual Budget. h) Maintenance of Website / Facebook Account.
  41. 41. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  42. 42. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  43. 43. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report3. Committed / Supportive members of the General Assembly toall the programs and plans of GLEDCO.
  44. 44. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report4. Innovative Savings Mobilization ProgramsShare Capital (Members’ Benefits of 8% based on ASC) 25%Time Deposits (Regular) 5-8%One Time Special Savings Account 5-8%Regular Special Savings Account 7%Savings Deposits 3%Savings (Among Program) 3%Kiddie Saver’s Club 3%
  45. 45. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report5. Enhanced Credit Facilities Features / Others LOAN TYPE Amount 1. Interest rates at 10%Car/Housing/Business Loan 1.2 / 4MBuy-out Loan (GFIs) 1.2M 2. Zero advance interestHold-out Loan (80% of TD/SC) 1.2MConsolidated Loan 1.0M 3. Longer repayment period (ex.Regular Loan 500T Housing loan to a maximumMedical Loan 200T of 20 years)Appliance Loan 150TAll-Purpose Loan 150T 4. Loans are covered by insuranceCalamity Loan 30T up to maturity periodG-Card Loan 15TPetty Cash Loan 18T 5. Rediscounting of checksExpress Loan 5T @ 1% per month.Rice Loan 1 cavanPurchase Order (PO) 5T 6. Filing Fee – ¼ of 1% of grossCheck Rediscounting amount of loan or 100.00Monet. of PIB/Loyalty/Clothing/Provident/RATA whichever is higher. Retirement Pay/Salary/Honorarium/Hazard Pay
  46. 46. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report6. Continuous Capital Build-up ProgramCapital Build-up – 50% of Interest on Capital & Patronage Refund (ICPR) - at least 1% of each good/service acquired by the member Jan. 22, 2004 – reduced from 50% to 30% of ICPR Jan. 22, 2006 – reduced from 30% to 10% of ICPR if paid-in capital is P501 shares and above. - reduced from 30% to 20% of ICPR if paid-in capital is 201–500 shares July 22, 2006 – continuous capital build-up through payroll deduction, at least one percent (1%) of his/her monthly basic salary or the amount of P100, P150, P200, P250 or more, at the option of the member
  47. 47. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report7. Expansion of MembershipJan. 22, 2002 - Elected Officials onlyJan. 22, 2004 - inclusion of associate members such as Elected Officials, Department of Public Safety employees, Casual employees and Heirs of members.July 22, 2006 – expansion of membership, GLEDCO shall be open to: 1. any natural person, Filipino citizen, of legal age, with capacity to contract; 2. any one of the immediate heirs of the deceased member; 3. an elected / casual / contractual employee of the City Government of Laoag
  48. 48. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportMembership Membership 1600 Year Regular Associate Total Increase % 140011/2001 164 1 165 1200 2002 316 1 317 152 92.12% 1000 2003 456 2 458 141 44.48% 800 600 2004 515 6 521 63 13.76% 400 2005 582 15 597 76 14.59% 200 2006 619 62 681 84 14.07% 0 2007 624 131 755 74 10.87% 2008 645 203 848 93 12.32% 2009 710 240 950 102 12.03% % to Total City Employees (1,056) as of December 31, 2010 721 299 1020 70 7.37% 2011 – 91.67% 2011 817 734 1551 531
  49. 49. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report8. Economic Benefits of Members thruMembers’ Benefits Distribution Members Benefits Particulars 2011 Actual 2010 Actual Targets Variance 1 8% of Average Share Capital 6,797,505.88 5,359,238.63 5,600,000.00 1,197,505.88 1st Semester 2,568,239.38 2,055,110.84 2nd Semester 2,896,418.00 2,235,356.44 2% Additional 1,332,848.50 1,068,771.35 2 1st Raffle Draw 3,651,989.22 2,704,919.40 3,200,000.00 451,989.22 3 10% Interest Rebates 2,550,099.71 2,315,267.57 2,700,000.00 (149,900.29) 1st Semester 922,656.89 441,906.92 2nd Semester 1,094,266.47 1,268,769.43 5% Additional 533,176.35 604,591.22 Total 12,999,594.81 10,379,425.60 11,500,000.00 1,499,594.81 % to Targets 113.04%
  50. 50. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Actual Members Benefits distributed is 113.04% of our 2011 Target. This is higher by P1.5 million against 2011 target & higher by P2.62 million (25.24%) against 2010 actual performance
  51. 51. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  52. 52. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  53. 53. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report9. Concern for the Community (Social Responsibility) 1. Scholarship Program 2. Mutual Benefit Program 3. Support to the Pamulinawen Festival 4. Assistance to the LCTSCC / ABC Programs 5. Support to the Wish Ko Kay Mayor Program 6. Support to the City’s Christmas Program 7. Search for the Kahanga-hangang Kawani Program 8. Support to the Environment / Oplan Dalus Program 9. Support to the Philippine Red Cross 10. Assistance during typhoon
  54. 54. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportCom. Devt. Prog. 2005 2006 2007 2008 2009 2010 2011SCHOLARSHIP/SUPPORT - 15,000.00 - 24,000.00 31,500.00 78,500.00 78,500.00 TO ISKOLAR NI MVFSUPPORT TO PAMULINAWEN - - 44,000.00 50,000.00 50,000.00 75,000.00 50,000.00 FESTIVALSUPPORT TO PHIL. - - 5,000.00 5,000.00 20,000.00 38,800.00 20,000.00 RED CROSSSUPPORT TO "A CAUSE - - 10,000.00 10,000.00 25,000.00 18,500.00 - FOR AUGUST"SUPPORT TO CCDC - - - 10,000.00 15,000.00 34,295.00 15,000.00GAWAD KALINGA - - - - 15,600.00 20,000.00 -SUPPORT TO MEDICAL - - - - 13,200.00 11,435.00 - MISSIONSUPPORT TO OPLAN- - - - - - 50,490.00 1,000,000.00 DALUS
  55. 55. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportCo De P g m.v r t o 2005 2006 2007 2008 2009 2010 2011SUPPORT TO SEARCH - - - - - 20,000.00 - FOR MS. COOPERATIVESUPPORT TO BREAKING THE - - - - 6,000.00 - - BARRIERS FOR CHILDRENSUPPORT TO "WISH KO - 5,000.00 - - - - - KAY MAYOR"SUPPORT TO KAHANGA- 11,610.00 9,000.00 32,000.00 34,000.00 45,200.00 40,434.00 19,950.00 HANGA AWARDSUPPORT TO CITYS - 24,000.00 - 25,500.00 - 26,500.00 64,000.00 CHRISTMAS PROGRAMDONATION/ 12,000.00 35,000.00 1,500.00 6,400.00 66,800.00 20,700.00 63,703.81 SPONSORSHIP TOTAL 23,610.00 88,000.00 92,500.00 164,900.00 288,300.00 434,654.00 1,311,153.81 Total support to various Community Development Program – P2,403,117.81
  56. 56. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report SCHOLARSHIP/EDUCATIONAL ASSISTANCE BENEFICIARY AMOUNT GIVEN COURSE SCHOOLPRINCESS SARAH DOMINGO 52,500.00 BSBA MMSUKARL HANZ VALENCIANO 30,000.00 CIVIL ENGINEERING MMSUAIDA KRIZELLE VALDEZ 19,500.00 B.S. ACCOUNTANCY MMSUPRINZELLE STARR DELA ROSA 19,500.00 B.S. NURSING MMSUMA. ELOISA VENTURA 3,000.00 B.S. PHYSICS UPNATILYN DOMINGO 3,000.00 B.S. ACCOUNTANCY DWCL TOTAL 127,500.00
  57. 57. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportMutual Aid Program (Death Aid) Year # of Recipients Amount 2006 1 129,200.00 2007 6 774,200.00 2008 5 727,200.00 2009 5 782,400.00 2010 5 860,600.00 2011 6 1,039,400.00 TOTAL 28 4,313,000.00
  58. 58. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report
  59. 59. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.1 Expansion of Business Activities
  60. 60. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10. Expansion of Business Activities Period Ended Aug. 31, 2012 Gross Income - P567,022 Net Surplus – P63,252
  61. 61. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.2 Expansion of Business Activities Tie-Up with Camella Homes for our Housing Project.
  62. 62. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s ReportAs of 8/31/2012Availments - P22,227,08110 Members
  63. 63. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.3 Expansion of Business Activities Acquisition of Mr. & Mrs. Joe Galiza’s Gasoline Station @ Brgy. # 46 Nalbo
  64. 64. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Period Ended Aug. 31, 2012Gross Sales - P22,064,466.48Gross Income – P1,748,487.28 Net Surplus – P595,780.01
  65. 65. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.4 Expansion of Business ActivitiesExpansion of operation at the Laoag City Gen. Hospital / Introductionof the Hospitalization & Emergency Assistance Loan (HEAL)Provision for health and life insurance / Annual medical check-up ofall members.Public Private Partnership with the City Government of Laoag for theoperation of the LCGH Dietary and Laundry Services.
  66. 66. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.4 Expansion of Business Activities at the LCGH
  67. 67. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.5 Expansion of Business Activities GLEDCO Cafeteria / Convenience Store @ Laoag City Multi-Purpose Center
  68. 68. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.6 Expansion of Business Activities Conduct of Two (2) Raffle Draws Income Target – P5 million
  69. 69. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.7 Expansion of Business ActivitiesCredit Partnership with and Puregold Laoag City
  70. 70. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report CREDIT PARTNER PROGRAM The ProductProduct Features:1. Payable in 4 installments Zero (0%) interest on member purchases.2. Acceptable in all outlets and Retail Affiliates 70
  71. 71. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report Signing of MOA (Credit Partnership) with September 28, 2012
  72. 72. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.8 Expansion of Business Activities 2nd Petron Gasoline Station / Convenience Store at the East of Iglesia ni Cristo, Brgy. 2, Laoag City
  73. 73. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report10.9 Expansion of BusinessActivities Construction of GLEDCO Building @ the Lot acquired from Mrs. Mary Ang (former Colonial Restaurant )
  74. 74. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report FS as of / 8 Months Ended Aug. 31, 2012 Accounts 8/31/2012 12/31/2011 Changes %Assets 298,854,326.59 248,502,648.97 50,351,677.62 20.26%Loan Portfolio 230,568,897.78 210,567,498.29 20,001,399.49 9.50%Paid-up Capital 87,141,500.00 75,280,000.00 11,861,500.00 15.76%Deposit Liabilities 177,599,787.95 147,183,116.61 30,416,671.34 20.67%Loan Releases 120,049,000.00 185,682,000.00 -65,633,000.00 -35.35%Gross Income 8 Months 29,491,279.82 37,235,205.00 -7,743,925.18 -20.80% Annualized 44,236,919.73 37,235,205.00 7,001,714.73 18.80%Members Benefits 10,738,223.69 12,999,594.81 -2,261,371.12 -17.40%
  75. 75. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report GLEDCO continues toGLEDCO’s main objective: adhere to: Total Satisfaction of G - Good Governance with Members through L - Leadership in the Cooperative Sector Innovative plans and E - Empowered Members thru programs to increase Economic Benefits D - Dedication to the ideals of Growth in Assets and cooperativism Excellent C - Competitive and Committed Officers and Management Staff of an Return on Investments O- Organization par excellence
  76. 76. Government of Laoag Employees Development Cooperative SUCCESS STORY / BEST PRACTICES Management’s Report AGBIAG TI KOOPERATIBA!!!
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