Response to COVID19

1. GLEDCO Multi –Purpose Cooperative Responding to fight the Effects of the
Covid 19 Pandemic
While the world is facing an unprecedented health and economic crisis, cooperatives
are responding to the call for action, finding strength in the people and communities
they serve.
In the midst of the crisis, it is inspiring to see cooperatives whose services
address the real felt needs not only of the members but also the employees and
the community as well. Such is the case of the Gledco Multi-Purpose
Cooperative. They create opportunities and arrangements to ease the
consequences of having a new normalas theytake part in the COVID-19
response thru the following initiatives and assistances:
A. Assistance to Gledco Multipurpose Cooperative (GMC) Employees funded by GMC
- P4,091,093.41.
1. P2,000.00 non-interest-bearing Covid-19 loans were extended to 181 GMC
employees amounting to P362,000.00.
2. Early release and distribution of the partial 13 Month Pay (equivalent to 3
months) in the amount of P412,885,51 to 172 GMC employees.
3. Implementation of loan moratorium from March to May 31, 2020, amounting to
P3,071,864.40.
4. Another assistance was given in the form of PPEs, provision of vitamins, provision
for free shuttle services for employees who continued to work even during the
ECQ, plastic barriers placed between GMC and clients transacting business.
5. Personnel services under alternative work arrangements such as Work From
Home (WFH) was also implemented and wages corresponding to services
rendered were paid.
6. In compliance with social distancing, the use of online communication via social
media and email was resorted to especially on the aspect of decision- making by
the Board of Directors and Top Management.
B. Assistance to GMC Members / Community - P7,487,875.76.
1. Implementation of the loan moratorium amounting to P6,439,096.58 to 857
member-borrowers.
2. Extended buy-out of year-end bonus in the amount of P828,020.00 for 43
members from the City Government of Laoag with a 1% interest reduction to 25
members in good standing.
3. Donated PPEs to Mariano Marcos Memorial Hospital and the City Health Office of
Laoag City amounting to P50,000.00.

2. 4. Donated fuel assistance to Barangay Buttong where one of our gasoline stations
operates.
5. RATA of 23 Officers and Personnel - the Board of Directors, Secretariat, Audit
and Inventory Committee and Management Staff (Part-time Personnel) waived
their RATA for the month of April 2020, saving an expense of P168.950.00
boosting the funding pool and enhancing GMC capacity for more interventions.
C. Other Assistance in coordination with Other Government Agencies / Private
Companies — P1,110,040.25.
1. Management successfully assisted GMC employees in accessing the Small
Business Wage Subsidy from SSS for the 1st and 2nd tranche in the amount of
P748.Q00.00 helping 68 GMC employees and their families).
As such, the GMC is continuing to do its part being a community-based socio-
economic enterprise. They again prove that cooperatives are an effective vehicle
towards a better normal (VIFE).