Historical Perspective III Current Philippines

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A Lecture Presentation
CDA Trainers' Training for Cooperatives
Lingayen, Pangasinan
Aug. 29-31, 2012

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Historical Perspective III Current Philippines

  1. 1. Jo B. BitonioPresenterCooperative Trainers Training, Lingayen, PangasinanAug. 29-31,2012)
  2. 2. The United Nations declares the year 2012 asthe “International Year of Cooperatives” (IYC)highlighting the contribution of cooperatives tosocio-economic development, and in particular,recognizing their impact on poverty reduction,employment generation and social integration. A/RES/64/13 December 18, 2009
  3. 3. cooperatives play anincreasingly important role inbalancing economic, social andenvironmental concerns as wellas in contributing to povertyreduction (ILO, 2008).
  4. 4. Selected Statistics Source: www.cda.gov.ph
  5. 5. 7,290,848 2011 Membership NumberTotal membershipunder RA 9520 7,196,097Total membership ofnewly registered Source:cooperatives 94,751 www.cda.gov.phTotal 7,290,848
  6. 6. Source: www.cda.gov.ph 2010 2011
  7. 7. Philippine Cooperatives’ Standings (2011) Multi-purpose cooperatives dominated the total number of registered cooperatives contributing sixty-nine percent (69.29%) of the total. It is followed by credit cooperatives which comprises almost 11 percent (10.91%) of the total registered and the remaining almost 20 percent (19.80%) are distributed among other types (CDA:2011).
  8. 8. Capitalization of Cooperatives as of December 2011 % SUBSCRIBED % PAID-UP CAPITALIZATION CAPITAL VS. CAPITAL VS. REGION AUTHORIZED SUBSCRIBED AUTHORIZED SUBSCRIBED PAID-UP CAPITAL CAPITAL I 153,065,600.00 39,582,800.00 10,706,000.00 25.86% 27.05% II 97,062,000.00 31,260,400.00 10,082,610.00 32.21% 32.25% CAR 89,279,600.00 23,475,800.00 6,675,600.00 26.29% 28.44% III 167,599,600.00 44,740,300.00 11,214,950.00 26.69% 25.07% NCR 569,815,542.56 158,174,003.57 56,630,058.39 27.76% 35.80% IV 345,156,280.00 115,851,620.00 43,191,230.00 33.56% 37.28% V 61,310,400.00 16,406,600.00 4,612,350.00 26.76% 28.11% VI 86,092,400.00 21,955,600.00 5,948,175.00 25.50% 27.09% VII 109,688,000.00 27,505,400.00 8,217,050.00 25.08% 29.87% VIII 25,718,400.00 7,798,000.00 3,117,150.00 30.32% 39.97% IX 45,100,000.00 11,754,100.00 4,508,201.12 26.06% 38.35% X 79,999,680.00 25,533,320.00 10,125,643.45 31.92% 39.66% XI 137,872,200.00 38,596,550.00 11,238,062.50 27.99% 29.12% XII 130,432,434.56 37,655,100.00 9,941,650.00 28.87% 26.40% CARAGA 76,251,600.00 20,434,500.00 5,274,475.00 26.80% 25.81% ARMM 89,133,600.00 22,283,400.00 5,570,850.00 25.00% 25.00%CENTRAL OFFICE 129,700,000.00 34,148,000.00 13,004,200.00 26.33% 38.08% TOTAL 2,393,277,337.12 677,155,493.57 220,058,255.46 28.29% 32.50%
  9. 9. Assets of Cooperatives per Category: Micro, Small, Medium and large As of December 2011 MICRO COOPERATIVES SMALL COOPERATIVES MEDIUM COOPERATIVES LARGE COOPERATIVES MORE THANK 15 MILLION UP TO 100 GRAND TOTAL 3 MILLION AND BELOW MORE THAN 3 MILLION UP TO 15 MILLION MORE THAN 100 MILLION REGION MILLION NO. OF NO. OF NO. OF NO. OF NO. OF AMOUNT OF ASSETS AMOUNT OF ASSETS AMOUNT OF ASSETS AMOUNT OF ASSETS AMOUNT OF ASSETS COOPS COOPS COOPS COOPS COOPS I 1,110 614,564,086.55 115 766,871,820.38 34 1,119,569,069.50 10 1,816,890,100.81 1,269 4,317,895,077.24 II 563 312,521,070.13 119 656,964,042.20 65 2,354,208,415.65 8 1,361,085,998.50 755 4,684,779,526.47 CAR 516 361,045,477.66 132 793,119,932.74 49 2,386,753,427.99 14 3,873,773,417.63 711 7,414,692,256.02 III 1,575 756,218,206.21 283 2,129,131,826.68 120 3,372,064,816.52 27 6,053,315,101.54 2,005 12,310,729,950.94 NCR 1,409 833,332,294.12 386 2,933,017,981.47 275 10,445,709,397.30 59 41,341,763,058.38 2,129 55,553,822,731.27 IV 1,839 1,080,820,953.61 402 2,795,328,746.61 177 6,600,994,561.86 32 9,934,540,331.75 2,450 20,411,684,593.83 V 632 354,276,872.17 118 786,224,781.40 38 1,203,504,467.32 5 535,701,787.95 793 2,879,707,908.84 VI 946 571,267,701.80 248 1,803,329,686.95 125 4,610,029,937.04 13 2,166,805,856.52 1,332 9,151,433,182.31 VII 1,037 791,743,579.59 367 2,173,618,599.13 91 3,146,799,652.99 28 9,998,111,699.99 1,523 16,110,273,531.69 VIII 499 311,735,000.12 106 725,183,189.66 51 1,873,083,902.23 10 2,425,126,717.27 666 5,335,128,809.28 IX 589 359,109,438.88 92 646,668,782.41 53 1,991,088,009.20 7 2,276,952,434.28 741 5,273,818,664.78 X 1,091 672,025,214.54 264 1,601,314,375.40 66 2,474,470,997.39 17 8,695,163,482.13 1,438 13,442,974,069.45 XI 1,174 768,240,890.01 349 2,014,722,180.87 90 3,538,952,429.16 40 11,335,320,078.27 1,653 17,657,235,578.31 XII 718 409,714,840.73 192 1,358,562,971.99 81 2,805,471,084.02 15 3,955,740,114.77 1,006 8,529,489,011.51 CARAGA 836 452,732,726.60 148 997,648,614.60 55 1,724,170,103.03 3 472,739,506.59 1,042 3,647,290,950.81 ARMM 1,157 253,611,781.27 37 262,785,253.68 10 398,091,218.15 10 2,277,206,166.84 1,214 3,191,694,419.94 CENTRAL OFFICE 3 - 2 20,541,556.18 21 1,153,596,343.78 39 18,753,476,644.37 65 19,927,614,544.33 TOTAL 15,694 8,902,960,133.99 3,360 22,465,034,342.33 1,401 51,198,557,833.13 337 127,273,712,497.58 20,792 209,840,264,807.02Of the 20,792 total registered cooperatives, the total In 2011, approximately 5.71% of Medium-Sizecooperative assets amounted to 209.8 Billion Pesos as Cooperatives have advanced into Largeof Dec. 31, 2011, 60.7% of which large cooperatives Cooperatives, 6.01 of Small-Size Cooperativesassets, 24.4% are assets of medium cooperatives, have advanced into Medium-Size Cooperatives,10.71% from small cooperatives, and 4.24% from micro- and 2.84 % of Micro-size Cooperatives havecooperatives. advanced into Small-sized Cooperatives.
  10. 10. NUMBER OF REGISTERED COOPERATIVES BY TOTAL ASSETS COOPERATIVES BY CATEGORY CATEGORY (In million Pesos) As of December 31, 2011 January 1 – December 31, 2011In terms of enterprise category, the relationship 75.48% of the total registered cooperatives arebetween the number of cooperatives and the total categorized as micro-enterprise, 16.16% areassets is inversely proportional. categorized as small-enterprise, 6.74% are categorized as medium-enterprise and only 1.62%The average asset of a micro cooperative is Php categorized as large-enterprise567,284, Small cooperatives have an average assetof PhP 6.7 million, medium cooperatives have anaverage asset of PhP 36.5 million, and largecooperatives have an average asset of PhP 378million.
  11. 11. TOTAL NO. OF REGISTERED TOTAL NO. OF PERSONS AVERAGE NO. OF TOTAL INDIRECT EMPLOYMENT GENERATED BY COOPERATIVES REGION COOPERATIVES DIRECTLY EMPLOYED BY EMPLOYEES PER EMPLOYMENT By Region COOPERATIVES GENERATED BY FY 2011 COOPERATIVE COOPERATIVES As of December 31, 2011 As of December 31, 2011 I 1,274 8,086 6.35 5,676 II 761 5,532 7.27 3,883 CAR 714 2,827 3.96 1,985 III 2,012 17,377 8.64 12,199 NCR 2,137 21,359 9.99 14,994 IV 2,457 20,077 8.17 14,094 V 797 4,784 6.00 3,358 VI 1,336 8,888 6.65 6,239 VII 1,529 20,342 13.30 14,280 VIII 668 5,238 7.84 3,677 IX 743 7,819 10.52 5,489 X 1,443 26,350 18.26 18,498 XI 1,654 19,883 12.02 13,958 XII 1,007 10,382 10.31 7,288 CARAGA 1,046 6,622 6.33 4,649 ARMM 1,214 15,659 12.90 10,993 TOTAL 20,792 201,225 9.68 141,260Cooperatives generated a total of 201,225 direct employment in 2010. Using the Sector Inverse Matrix (Input-Output Table) provided by the National Statistical Coordination Board (NSCB), a total of 141,260 indirectemployment was derived.
  12. 12. 2010 COOPERATIVE CONTRIBUTION TO GROSS REGIONAL DOMESTIC PRODUCT By Region (At Constant 2000 Prices 2010 COOPERATIVE REGIONAL DOMESTIC PRODUCTREGION At Constant 2000 Prices (In Thousand Pesos) I 5,844,069,063 II 6,852,736,673 CAR 3,723,002,219 III 25,250,930,927 NCR 28,948,699,349 IV 39,561,978,042 V 5,120,219,889 VI 54,085,393,226 VII 21,672,533,939 VIII 2,822,362,731 IX 5,043,835,834 X 26,054,642,104 XI 37,821,645,490 XII 6,233,920,984CARAGA 4,748,640,369 ARMM 7,080,600,003TOTAL 280,865,210,840.29 The entire cooperative sector in the Philippines contributed P 280,865,210,840.29 or 3.12% to the 2010 Gross Domestic Product.
  13. 13. Reasons for Failure of Cooperatives incompetent management lack of proper understanding of coop  political interferenceobjectives, principles, and practices especially in the collection of improper use of loan proceeds unpaid loans defective securities and collaterals  poor supervision inadequate compensation of officers  inadequate support from the unscrupulous officers’ granting of big loans to government, NGOs, etcthemselves;  competition from established dominance of individual attitude instead of businesses and vestedthe spirit of cooperation interests inadequate capital and lack of knowledge inmarketing Source: Sibal (1998) absence of substantial legal support insufficient volume of business
  14. 14. The Ilocos region orRegion I is a Region ofthe Philippines and islocated in the northwest Source: CDA DEO MIS Aug. 2012of Luzon. It borders to theeast the regions of theCordillera AdministrativeRegion and CagayanValley and to the souththe region of CentralLuzon. Wikipedia
  15. 15. LIST OF MILLIONAIRE COOPERATIVESAs of August 28, 2012 (Based on CAPR 2011) PAID-UP PROVINCE SIZE TOTAL ASSETS COOPERATIVE NAME CAPITAL 1 Tubao Credit Cooperative La Union Large 210,891,651.66 629,920,161.14 2 Sta. Cruz Savings and Development Cooperative Ilocos Sur Large 111,765,990.64 633,668,133.22 3 Lingayen Catholic Credit Cooperative Pangasinan Large 110,140,612.13 233,481,228.38 Government of Laoag Employees Development 4 Ilocos Norte Coooperative Large 75,280,000.00 248,502,648.97 5 Pangasinan State University Multi Purpose Cooperative Pangasinan Medium 40,805,480.00 57,574,191.00 6 Fatima (Vigan) Multi Purpose Cooperative Ilocos Sur Medium 37,250,361.00 102,752,263.00 7 San Joaquin Multi Purpose Cooperative Ilocos Norte Medium 20,859,162.00 101,149,055.00 8 Suyo Multi Purpose Cooperative Ilocos Sur Medium 18,717,009.05 109,546,647.05 9 Sto. Domingo Development Cooperative Ilocos Sur LIST OF MILLIONAIRE COOPERATIVES Medium 15,787,902.93 44,689,021.58 REGION I Mangaldan National High School Faculty, Employees 10 and Retirees Multipurpose Cooperative 28, 2012 As of August Pangasinan Medium 12,455,344.59 23,729,384.72 11 (Based on CAPR 2011) Coliling Farmers Savings & Credit Cooperative Pangasinan Large 11,712,220.00 115,285,660.00 12 Sugpon Multi-Purpose Cooperative Ilocos Sur Medium 11,660,735.00 33,960,315.00 13 United Primary Multi Purpose Cooperative Pangasinan Medium 10,985,717.93 27,968,857.99 14 Alilem Multi Purpose Cooperative Ilocos Sur Medium 10,915,131.41 41,783,610.06 Ilocos Sur Cooperative Medical Mission Group & 15 Hospital Ilocos Sur Small 10,668,554.00 22,954,795.00 16 Saranay Multipurpose Cooperative La Union Medium 10,642,044.82 15,914,523.07 17 La Union Ladies Multi Purpose Cooperative La Union Medium 10,163,000.00 34,377,899.91 18 Alaminos Savings and Credit Cooperative Pangasinan Medium 9,302,598.18 20,008,128.00 19 SRPC Employees Multi Purpose Cooperative Pangasinan Small 9,083,772.49 11,139,594.08 20 Tagudin Multi Purpose Cooperative Ilocos Sur Medium 8,882,236.85 40,110,751.25
  16. 16. LIST OF MILLIONAIRE COOPERATIVESAs of August 28, 2012 (Based on CAPR 2011) PAID-UP TOTAL   MUNICIPALITY SIZE CAPITAL ASSETS COOPERATIVE NAME   1 Lingayen Catholic Credit Cooperative ADDRESS Lingayen MUNICIPALITY Large TYPE PROVINCE 110,140,612.13 233,481,228.38 SIZE PAID-UP TOTAL COOPERATIVE NAME CAPITAL ASSETS 2 Pangasinan Cooperative 1 Lingayen Catholic Credit State University Multi Purpose Cooperative Epiphany Of Our Lord Parish Lingayen Lingayen Micro Pangasinan Credit 40,805,480.00 57,574,191.00 Large 110,140,612.13 233,481,228.38 2 Pangasinan State University Multi Purpose Cooperative Alvear St. Lingayen Pangasinan Multi-Purpose Micro 40,805,480.00 57,574,191.00 3 Mangaldan National High School Faculty, Employees and P.de Guzman St. 3 MangaldanCooperative High School Faculty, Employees Retirees Multipurpose National and Mangaldan Pangasinan Multi-Purpose Medium 12,455,344.59 23,729,384.72 Retirees Multipurpose Cooperative Brgy. Coliling 4 Coliling Farmers Savings & Credit Cooperative Mangaldan Medium San Carlos City Pangasinan Credit 12,455,344.59 23,729,384.72 Large 11,712,220.00 115,285,660.00 5 United Primary Multi Purpose Cooperative Solis St. 4 Coliling Farmers Savings & Credit Cooperative Lingayen Pangasinan Multi-Purpose Medium San Carlos City Large 10,985,717.93 27,968,857.99 11,712,220.00 115,285,660.00 6 Alaminos Savings and Credit Cooperative 103b Magsaysay Alaminos City Pangasinan Credit Medium 9,302,598.18 20,008,128.00 75 United Primary Multi Purpose Cooperative Roque Brgy. San Lingayen Pangasinan Multi-Purpose Medium 10,985,717.93 27,968,857.99 Small 9,083,772.49 11,139,594.08 SRPC Employees Multi Purpose Cooperative San Manuel 6 Alaminos Savings and Credit Cooperative 8 Integrated Small Fishpond Owners and Lessees Multi Mc Arthur Highway, Biec Duyao Purpose Cooperative Alaminos City Binmaley Medium Pangasinan Multi-Purpose 9,302,598.18 20,008,128.00 Medium 7,966,535.60 26,929,158.10 9 San Carlos City Teachers Savings and Credit Cooperative Division Office Comp. Roxas, Blvd. San Carlos City Pangasinan Credit 7 SRPC Employees Multi Purpose Cooperative Small San ManuelPangasinan Multi-Purpose 9,083,772.49 11,139,594.08 Medium 7,965,600.00 25,044,131.74 10 St. Rose of Lima Parish Multi Purpose Cooperative Domalandan Center Lingayen Small 6,300,022.02 11,696,449.40 11 CENPELCO Employees Cooperative Padilla St. San Carlos City Pangasinan Multi-Purpose Small 5,959,600.00 7,535,953.56 8 Integrated Small Fishpond Owners and Lessees Multi Purpose Cooperative Binmaley Medium 7,966,535.60 26,929,158.10 9 San Carlos City Teachers Savings and Credit Cooperative San Carlos City Medium 7,965,600.00 25,044,131.74 10 St. Rose of Lima Parish Multi Purpose Cooperative Lingayen Small 6,300,022.02 11,696,449.40 11 CENPELCO Employees Cooperative San Carlos City Small 5,959,600.00 7,535,953.56
  17. 17. LIST OF MILLIONAIRE COOPERATIVESAs of August 28, 2012 (Based on CAPR 2011) COOPERATIVE NAME MUNICIPALITY SIZE PAID-UP CAPITAL TOTAL ASSETS1 Tubao Credit Cooperative Tubao Large 210,891,651.66 629,920,161.142 Saranay Multipurpose Cooperative San Fernando City Medium 10,642,044.82 15,914,523.073 La Union Ladies Multi Purpose Cooperative Agoo Medium 10,163,000.00 34,377,899.914 Damayan at Tulungan sa Isat Isa Multi Purpose Cooperative San Fernando City Small 6,862,100.00 13,642,196.605 LUELCO Employees Multi Purpose Aringay Cooperative Small 5,020,100.00 12,238,654.556 Sugpunan Ti La Union Credit Cooperative San Fernando City Medium 4,650,164.02 23,225,433.537 Emancipators Multi Purpose Cooperative San Fernando City Small 3,717,565.83 6,670,956.758 Anduyan Multipurpose Cooperative Tubao Small 3,071,000.00 7,810,460.239 La Union Tobacco Growers Multi Purpose Bauang Cooperative Small 2,485,545.71 3,989,761.8810 BNHS Provider Multi Purpose Cooperative, Bacnotan Inc. Small 2,432,656.89 5,120,428.81
  18. 18. LIST OF MILLIONAIRE COOPERATIVESAs of August 28, 2012 (Based on CAPR 2011) PAID-UP MUNICIPALITY SIZE TOTAL ASSETS CAPITAL COOPERATIVE NAME 1 Sta. Cruz Savings and Development Cooperative Santa Cruz Large 111,765,990.64 633,668,133.22 2 Fatima (Vigan) Multi Purpose Cooperative Vigan City Medium 37,250,361.00 102,752,263.00 3 Suyo Multi Purpose Cooperative Suyo Medium 18,717,009.05 109,546,647.05 4 Sto. Domingo Development Cooperative Santo Domingo Medium 15,787,902.93 44,689,021.58 5 Sugpon Multi-Purpose Cooperative Sugpon Medium 11,660,735.00 33,960,315.00 6 Alilem Multi Purpose Cooperative Alilem Medium 10,915,131.41 41,783,610.06 7 Ilocos Sur Cooperative Medical Mission Group & Hospital Vigan City Small 10,668,554.00 22,954,795.00 8 Tagudin Multi Purpose Cooperative Tagudin Medium 8,882,236.85 40,110,751.25 9 Ilocos Sur Upland Developers Cooperative Lidlidda Medium 7,091,921.19 56,544,456.21 10 Ilocos Sur National High School Multi Purpose Cooperative Vigan City Micro 3,599,599.03 4,472,364.12
  19. 19. LIST OF MILLIONAIRE COOPERATIVESAs of August 28, 2012 (Based on CAPR 2011) PAID-UP   MUNICIPALITY SIZE TOTAL ASSETS COOPERATIVE NAME CAPITAL Government of Laoag Employees 1 Laoag City Development Coooperative Large 75,280,000.00 248,502,648.97 2 San Joaquin Multi Purpose Cooperative Sarrat Medium 20,859,162.00 101,149,055.00 3 MMSU Development Cooperative Inc. Laoag City Medium 7,222,837.38 18,762,046.95 Ilocos Norte College of Arts and Trades Multi Laoag City 4 Purpose Cooperative Medium 5,388,297.88 28,152,177.54 Solsona Employees Multi Purpose 5 Solsona Cooperative Small 3,175,385.47 3,232,088.27 6 DWCL Multi-Purpose Cooperative, Inc. Laoag City Micro 1,192,963.43 685,293.74
  20. 20. ART. 23. Type and Categories of Cooperatives. – (1) Types of Cooperatives – Cooperatives may fall under any of the following types:Tubao Credit Cooperative "(a) Credit Cooperative is one that promotes and undertakes savings and lending services among its members. It generates a common pool of funds in order to provide financial assistance to its members for productive and provident purposes;
  21. 21. "(b) Consumers Cooperative is one ofthe primary purpose of which is toprocure and distribute commoditiesto members and non-members
  22. 22. "(c) Producers Cooperative is one thatundertakes joint production whetheragricultural or industrial. It is formed andoperated by its members to undertake theproduction and processing of rawmaterials or goods produced by itsmembers into finished or processedproducts for sale by the cooperative to itsmembers and non-members. Any endproduct or its derivative arising from theraw materials produced by its members,sold in the name and for the account ofthe cooperative, shall be deemed aproduct of the cooperative and itsmembers;
  23. 23. d) MarketingCooperative is onewhich engages in thesupply of productioninputs to membersand markets theirproducts
  24. 24. "(e) Service Cooperative is onewhich engages in medical anddental care, hospitalization,transportation, insurance, housing,labor, electric light and power,communication, professional andother services; Community Health & Development Cooperative Hospital (CHDCH) |
  25. 25. "(f) Multipurpose Cooperative isone which combines two (2) ormore of the business activities ofthese different types ofcooperatives;
  26. 26. "(g) Advocacy Cooperative is aprimary cooperative whichpromotes and advocatescooperativism among its membersand the public through socially-oriented projects, education andtraining, research andcommunication, and other similaractivities to reach out to itsintended beneficiaries;
  27. 27. Agrarian ReformCooperative is one organizedby marginal farmers majority of which areagrarian reform beneficiaries for the purposeof developing an appropriate system of landtenure, land development, land consolidationor land management in areas covered byagrarian reform
  28. 28. i) Cooperative Bank is oneorganized for the primarypurpose of providing a widerange of financial services tocooperatives and theirmembers;
  29. 29. j) Dairy Cooperative is onewhose members are engagedin the production of fresh milkwhich may be processedand/or marketed as dairy produced by the Federation of Davao Dairyproducts;
  30. 30. "(k) Education Cooperative is oneorganized for the primary purposeof owning and operating licensededucational institutionsnotwithstanding the provisions ofRepublic Act No. 9155, otherwiseknown as the Governance of BasicEducation Act of 2001; Cebu City Community School
  31. 31. "(l) Electric Cooperative is oneorganized for the primarypurposed of undertaking powergenerations, utilizing renewableenergy sources, including hybridsystems, acquisition and operationof sub transmission or distributionto its household members;
  32. 32. Financial Service"(m)Cooperative is one organized for theprimary purpose of engaging in savings andcredit services and other financial services;
  33. 33. "(n)Fishermen Cooperative is oneorganized by marginalized fishermen in localities whose productsare marketed either as fresh or processed products;
  34. 34. Health Services"(o)Cooperative is one organizedfor the primary purpose of providing medical,dental and other health services;
  35. 35. Housing"(p)Cooperative is one organized toassist or provide access to housing for the benefit ofits regular members who actively participate in thesavings program for housing. It is co-owned andcontrolled by its members;
  36. 36. "(q)Insurance Cooperative isone engaged in the business of insuring lifeand poverty of cooperatives and theirmembers;
  37. 37. Transport"(r) Biliran Philippines Transport CooperativeCooperative is one whichincludes land and sea transportation, limitedto small vessels, as defined or classified underthe Philippine maritime laws, organized underthe provisions of this Code; Negros Air Transport Cooperative Transport Workers Alliance The Caticlan Boracay Services Cooperative Transport Multi-Purpose Cooperative
  38. 38. Water Service"(s)Cooperative is oneorganized to own, operate andmanage waters systems for theprovision and distribution ofpotable water for its members andtheir households;
  39. 39. Workers Cooperative"(t) is oneorganized by workers, including the self-employed,who are at same time the members and owners of theenterprise. Its principal purpose is to provideemployment and business opportunities to itsmembers and manage it in accordance withcooperative principles
  40. 40. Other types of"(u)cooperative asmay be determined bythe Authority.
  41. 41. Reference: RA 9520 www.cda.gov.ph

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