Coop founding anniversary
By Sunrise Fan
@sunrisefan (28524)
Philippines
February 17, 2022 12:24am CST
Today is the 54th founding anniversary of our cooperative so I woke up early to go to the office to attend mass at 7AM and the anniversary program later. Because of covid protocols, only about a hundred employees of the Head Office and Main Branch and officers were accommodated at the 4th floor of our building and the activity was broadcast live on FB.
From a modest beginning of 49 founding members and a meager capital of P1,181.50, our cooperative has now grown to 135,000 members and total assets of P7.5 billion. Indeed, this is a reason for the member-owners to rejoice because, despite the pandemic, our cooperative continues to grow and we are even looking forward to the completion of our 5-storey hotel this coming June.
Prior the the anniversary, the Board secretary already informed me secretly that the Board will be giving me a Certificate of Appreciation together with a fellow member of our Technical Working Group who is an engineer. I told the secretary to please relay to the Board that I really appreciate the gesture but that I am requesting not to be included among the awardees because I feel that it would diminish the value of the award for the engineer with home our TWG and the cooperative are relying so much. However, I was told by the secretary that she relayed my message but that the BOD chairperson told her not to mind me because she has always known me to be working silently in the background. And to cut the long story short - I was still given a Certificate of Appreciation during the program with an envelope containing some cash.
14 people like this
14 responses
@sol_cee (38219)
• Philippines
17 Feb 22
@sunrisefan it’s good that your hotel construction wasn’t affected by Odette
1 person likes this
@sunrisefan (28524)
• Philippines
17 Feb 22
Thanks and yes, I'm still part of the hotel project which is nearing completion. Also, while it is nearing completion, there's another project - the west annex expansion of the the hotel for 21 more rooms which is ongoing.
2 people like this
@sunrisefan (28524)
• Philippines
17 Feb 22
I was a bit late in responding to you because I am also viewing on FB live the MOA signing between our cooperative and a smaller hospital services cooperative for our donation of an electrolyte machine and I'm not sure if an ultrasound machine is also donated or a loan is extended for its purchase.
2 people like this
@sunrisefan (28524)
• Philippines
17 Feb 22
Thank you. Though I did not feel that I should be given such certificate, I accepted it in respect and thankful to the BOD's gesture.
2 people like this
@LadyDuck (472213)
• Switzerland
17 Feb 22
@sunrisefan It requires constant dedication and a lot of work.
2 people like this
@sunrisefan (28524)
• Philippines
17 Feb 22
@LadyDuck Indeed, Ms. Anna, and I hope the dedication of everyone continues.
1 person likes this
@sunrisefan (28524)
• Philippines
17 Feb 22
Thanks, Ms. Anna. We're lucky it has been managed over the years by different sets of hard-working officers aside from our hardworking management and staff.
2 people like this
@arunima25 (87852)
• Bangalore, India
17 Feb 22
Congratulations! On your certificate of appreciation. That is truly deserved
. And I wish that your cooperative keeps on growing and be more successful
. And I wish that your cooperative keeps on growing and be more successful2 people like this
@sunrisefan (28524)
• Philippines
17 Feb 22
Thank you. I also wish that our cooperative continue to grow because it has helped so many members send their children to school or build homes for their families. When the hotel is finished, we look forward to shift our attention to the horizontal development of our second housing subdivision.
3 people like this
@arunima25 (87852)
• Bangalore, India
22 Feb 22
@sunrisefan Happy for you and all those associated with the success story
Wishing you luck for all the future projects
Wishing you luck for all the future projects1 person likes this
@sunrisefan (28524)
• Philippines
23 Feb 22
@arunima25 Thanks for your good wishes :)
1 person likes this
@rsa101 (38166)
• Philippines
17 Feb 22
Oh wow you have successfully grown that Cooperative so well that it is financially stable and can operate a business well. I think you should really be given that award since I think you are a good member of that coop and you have done a good job for reaching that level. I am wondering how you have gathered that many members and what attracted them to invest their money in your coop.
@sunrisefan (28524)
• Philippines
17 Feb 22
I have been a member since 1985. I think what attracted people to join our cooperative is that it is well-managed by hardworking officers, management and staff. Even big businessmen who usually trust more the big banks are now putting some of their money in our cooperative.
1 person likes this
@rsa101 (38166)
• Philippines
21 Feb 22
@sunrisefan That's great! I am just curious what sort of business are you into that you were able to grow your money well. Are you into lending or merchandise kind of business? I have seen a lot of Cooperative struggling to make their business grow like yours but they fail in the end since the members clash for power in the coop.
@sunrisefan (28524)
• Philippines
23 Feb 22
@rsa101 Initially, we were purely a credit cooperative. We grew because our cooperative was well-ran by responsible officers as well as management and staff. Later on, we applied to be a multi-purpose cooperative with the CDA. Soon after, we went into subdivision development for members and, right now, that first subdivision of over a hundred units has already been sold out and house have been built on them. We are now finalizing regulatory requirements for our second subdivision. It is for the reason with being a multi-purpose cooperative that our Board decided to put up a hotel because we had a problem with excess liquidity. Besides, our ready market prior to the pandemic would have been conferences of cooperatives as most would prefer our place because it is central in the country. Oftentimes, when conferences and seminars would be held in Luzon (especially in the northern part), there would be less attendance from Mindanao cooperatives because of the costs of transportation in going there. Same story when conferences or seminars are held in Mindanao - it would the member cooperatives from Luzon who would not be attending. Being central in the Visayas, our place is the best compromise. BTW, we also purchased memorial lots in bulk (this was the time when I was a BOD member) and when the lots were all sold out, the Board again decided to purchase additional lots. Hopefully, we will continue on expanding.
1 person likes this
@sunrisefan (28524)
• Philippines
23 Feb 22
Thanks Janet :) The engineer really deserves the award more than I do.
@cacay1 (83595)
• Cagayan De Oro, Philippines
17 Feb 22
@sunrisefan, it is the cash that is exciting hehehe. Perhaps a dividend . Maybe you receive 100,000 pesos.
@sunrisefan (28524)
• Philippines
18 Feb 22
@cacay1 I deposited it to my share capital so others can use it.
1 person likes this
@sunrisefan (28524)
• Philippines
18 Feb 22
Thanks Ms. Judy :) It's just one of those very few times that what I do is noticed and I appreciate the recognition given.
1 person likes this
@freelancermariagrace (28686)
• Philippines
18 Feb 22
Wow. Congratulations! Keep it up!
1 person likes this
@sunrisefan (28524)
• Philippines
17 Feb 22
@Hytton03 Hehehe thanks but I guess that's it - nothing follows :)
1 person likes this
@Hytton03 (5451)
• Philippines
17 Feb 22
@sunrisefan i hope more certificate and cash this year my friend for you.
1 person likes this
