ARTICLES OF COOPERATION OF THE PUERTO PRINCESA MARKET CREDIT

COOPERATIVE

KNOW ALL MEN BY THESE PRESENTS:

We, the undersigned, Filipino citizens and residents of the Philippines, have on this day
voluntarily associated ourselves for the purpose of credit cooperative under the laws of the
Philippines, more particularly R.A. 9520.
AND WE HEREBY CERTIFY:

ARTICLE I
NAME OF COOPERATIVE
That the name of the cooperative shall be Puerto Princesa Market Credit Cooperative.

ARTICLE II
OBJECTIVES AND PURPOSES
That the objectives and purposes for which this cooperative is formed are:

Focus on stall owner and market vendor, low income and deprived people of the
community, who have no accessibility to any financial institutions
Encourage members to save and deposit some amoubt at PPM Credit Coop for safety and
liquid.
Provide access to interest free/ low debt cost credit to the members to meet their financial
needs.
Assist members to deploy their fuds in various ways to earn lawful income.
Seek active participation of all members without any kind of social, racial, political,
gender or religious discrimination.
Provide education, training and information to develop their members as well as their
staff

ARTICLE III
AREA OF OPERATION
That this cooperative shall operate within the City Goverment of Puerto Princesa and its
principal office be located at the 78-b Malvar Street, Bgy. tagumpay, Puerto Princesa City

ARTICLE IV
TERM OF EXISTENCE
That the term for which this cooperative shall exist is fifty (50) years from the date of its
registration with the Cooperative Development Authority. (The term is 50 years.)
ARTICLE V
NAME, NATIONALITY AND ADDRESS OF COOPERATORS
That the name, nationality and address of the Cooperators are as follows:
Name

Nationalit
y

Postal Address

Filipino

Fernandez ext. Bgy. Tanglaw, 5300 Puerto

Princesa City

Filipino

Bgy. Tiniguiban, 5300 Puerto Princesa City

3 Rosemarie Platero

Filipino

Bgy. Tiniguiban, 5300 Puerto Princesa City

4 Cathyfel Kilat

Filipino

5300 Puerto Princesa City

5 Rovelyn Toledo

Filipino

Bgy. Tiniguiban, 5300 Puerto Princesa City

6 Reineth Nadal

Filipino

Bgy. San Miguel, 5300 Puerto Princesa City

Filipino

Public Market, 5300 Puerto Princesa City

Filipino

Public Market, 5300 Puerto Princesa City

Filipino

City Social Welfare Office, 5300 Puerto Princesa

City

Filipino

City Assessors Office, City Hall, 5300 Puerto

Princesa City

Filipino

Bgy. Tagumpay, 5300 Puerto Princesa City

Filipino

Public Market, City Hall, 5300 Puerto Princesa

City

1 Efrain A. Dagsa
2

7
8
9

Shawn Cassandrabelle De
Castro

Nethrein Ladan
Abelle Gahub
Lyn Rev Mendez

1 Chiara Bibo
0
11

Romy Gigi

1 Mark Bola
2

1 Erman Contra
3

Filipino

City Health Office, 5300 Puerto Princesa City

1 . Changie Yu
4

Filipino

Office of the City Accountant, 5300 Puerto

Princesa City

1 Alfred Larang
5

Filipino

Office of the City Administrator5300 Puerto

Princesa City

ARTICLE VI
COMMON BOND OF MEMBERSHIP
That the common bond of membership of this Cooperative is institutional (stall owner
and market vendor of Puerto Princesa Public Market) and shall be open to all natural persons
who are Filipino citizens, of legal age, with the capacity to contract and possess all the
qualifications and none of the disqualifications provided for in the By-laws:

ARTICLE VII
BOARD OF DIRECTORS
That the number of directors of this Cooperative shall be nine (9) and the name, citizenship and
the residence of the founding directors who are to serve until their successors shall have been
elected and qualified as provided in the by-laws are:
Name

Citizenship

Efrain A. Dagsa

Filipino

Shawn Cassandrabelle De
Castro

Filipino

Rosemarie Platero

Filipino

Cathyfel Kilat

Filipino

Rovelyn Toledo

Filipino

Nethrein Ladan
Abelle Gahub
Lyn Rev Mendez
Nethrein Ladan

Filipino
Filipino
Filipino
Filipino

Residence
Fernandez ext. Bgy. Tanglaw,
Puerto Princesa City
Bgy. Tiniguiban, Puerto
Princesa City
Bgy. Tiniguiban, Puerto
Princesa City
5300 Puerto Princesa City
Bgy. Tiniguiban, Puerto
Princesa City
Bgy. San Miguel, Puerto
Princesa City
Public Market, Puerto
Princesa City
Public Market, Puerto
Princesa City
City Social Welfare Office,
Puerto Princesa City

ARTICLE XIII
CAPITALIZATION
That the authorized share capital of this Cooperative is Two Million Pesos
(P2,000,000.00) Philippine currency, divided into four thousand (4,000) shares, with a par value
of P500 per share:
ARTICLE IX
SUBSCRIBED CAPITAL AND PAID-UP
That at least twenty five percent (25%) of the authorized share capital has been
subscribed and at least twenty five percent (25%) of the total subscription has been paid by the
following members-subscribers: (The minimum total paid-up common share is P125,000.00).

BE IT KNOWN THAT:
Efrain A. Dagsa has been elected/appointed as Treasurer of the cooperative to act as
such until his/her successor is duly elected/appointed and qualified in accordance with the bylaws and that as such Treasurer, he/she has been authorized to receive for the cooperative and to
issue receipts in the name of the Cooperative for all subscriptions/shares paid in by the
subscriber-members.
IN WITNESS WHEREOF, we have hereunto set our hands this 7th day of October,
2015 at the City of Puerto Princesa.
1. Efrain A. Dagsa
2. Shawn Cassandrabelle De Castro
3. Rosemarie Platero
4. Cathyfel Kilat
5. Rovelyn Toledo
6. Reineth Nadal
7. Nethrein Ladan
8. Abelle Gahub
9. Lyn Rev Mendez
10. Chiara Bibo
11. Romy Gigi
12. Mark Bola
13. Erman Contra
14. Changie Yu

15. Alfred Larang

16.

PPM Credit Cooperative

Puerto Princesa Market

Credit Cooperative
78-b Malvar Street, Bgy. Tagumpay, Puerto Princesa City.
Cel Phone# 09095973893/09120207385
PPMCreditCoop@gmail.com

Puerto Princesa Public Market Credit Cooperative offer financial

services to its members. Application for Membership is open to all
Filipinos who live and work within the area of Peurto Princesa
City, especially to public market stall owner, market vendor and
nearby barangays with the recommendation of a Member In Good Standing
(MIGS).

OBJECTIVES
Focus on stall owner and market vendor, low income and deprived people of
the community, who have no accessibility to any financial institutions
Encourage members to save and deposit some amoubt at PPM Credit Coop
for safety and liquid.
Provide access to interest free/ low debt cost credit to the members to meet
their financial needs.
Assist members to deploy their fuds in various ways to earn lawful income.
Seek active participation of all members without any kind of social, racial,
political, gender or religious discrimination.
Provide education, training and information to develop their members as
well as their staff

ORGANIZATIONAL STRUCTURE

General Assembly

Audit Committee

Board of Directors

Election Committee

Management Staff

Secretary

Mediation &
Conciliation
Committee

Ethics
Committee

Other
Committee

Treasurer

Board of Directors

Committess
Audit Committee

Election Committee

member

mmber

member

member

member

Committess
Mediation and Conciliation Committee

Ethic Committee