BSSMC Presentation

Pre-Membership Education Seminar

Ownership Seminar
Together We Start, Grow & Succeed.
 Presentation
1. Biblical Basis of Coop
2. Coop Values
3. Coop Principles
4. Differentiate Coop from other business
5. BSSMC History, Coop's Vision & Mission
6. Organizational structure
7. Duties and responsibilities of members
8. BSSMC Services
9. Coop Pledge
 Biblical Basis of Coop
ACTS 4:32-34
“ALL THE BELIEVERS WERE ONE IN HEART AND MIND. NO
ONE CLAIMED THAT ANY OF HIS POSSESSIONS WAS HIS
OWN, BUT THEY SHARED EVERYTHING THEY HAD. WITH
GREAT POWER THE APOSTLES CONTINUED TO TESTIFY TO
THE RESURRECTION OF THE LORD JESUS AND MUCH GRACE
WAS UPON THEM ALL. THERE WERE NO NEEDY PERSONS
AMONG THEM. FROM TIME TO TIME THOSE WHO OWNED
LANDS OR HOUSES SOLD THEM, BROUGHT THE MONEY
FROM THE SALES AND PUT IT AT THE APOSTLE’S FEET AND
IT WAS DISTRIBUTED TO ANYONE AS HE NEED.”
 HISTORY OF COOPERATIVE
The history of cooperatives in the Philippines
is replete with tragic stories for the downfall of
many co-ops. It is vital that part of the training
deals with the causes of co-op failures, “as an eye
opener” for all sectors involved in strengthening
cooperatives countryside development. Learning
from past mistakes can pave the way for stronger
foundation for successful cooperativism.
 COOP VALUES
CO-OPERATIVES ARE BASED ON THE
VALUES OF SELF-HELP, SELF-RESPONSIBILITY,
DEMOCRACY, EQUALITY, EQUITY AND
SOLIDARITY.
IN THE TRADITION OF THEIR FOUNDERS,
CO-OPERATIVE MEMBERS BELIEVE IN THE
ETHICAL VALUES OF HONESTY, OPENNESS,
SOCIAL RESPONSIBILITY AND CARING FOR
OTHERS.
 COOP VALUES
1. SELF-HELP
The act of helping or improving
yourself without relying on anyone
else.
 COOP VALUES

2. SELF-RESPONSIBILITY
Fact of being responsible.
*Members have responsibility*
 COOP VALUES

3. DEMOCRACY
Rule by-for-of the people
 COOP VALUES

4. EQUALITY
Likeness or sameness in
quality, power, status, or degree
 COOP VALUES

5. EQUITY
The state, quality, or ideal of
being just, impartial, and fair
 COOP VALUES
6. SOLIDARITY
A union of interests or purposes or
sympathies among members of a
group, interdependence
 COOP VALUES
7. HONESTY
Quality/condition of being
honest; integrity
-honest dealings with members such as honest
measurements, high quality, fair prices and
calculation of interest payments
 COOP VALUES

8. OPENNESS
An attitude of ready
accessibility, not secretive
- reports to General Assembly
 COOP VALUES
9. SOCIAL RESPONSIBILITY
The idea that businesses should not function
immorally, but instead contribute to the welfare
of their communities
 COOP VALUES

10. CARING FOR OTHERS

Assisting/helping other
coops
 COOP PRINCIPLES
1. Open And Voluntary Membership
2. Democratic Control
3. Member Economic Participation
4. Autonomy And Independence
5. Education Training & Information
6. Cooperation Among Cooperatives
7. Concern For The Community
Difference of Coop from Other Business
COOPS OTHER BUSINESS
• Main purpose is to provide • Main purpose is to make profit
service to members for investors
• Essentially union of persons & • Essentially a union of capital
practices social
enterprise
• Control is democratic: each • Control is based on number of
member has one vote voting shares

• Ownership in the hands of • Ownership in the hands of

members who use the service investors

• Surplus refunded to members in • Surplus allocated in proportion

proportion to participation to investment
• Shares may be freely traded and
fluctuate in value
 IN BIG BUSINESS, Those who own are investors;
those who control are the management; those who
use are the customers.

IN SMALL SCALE BUSINESS, Those who own and

control; and those who use.

WHILE IN COOPERATIVES, The same body of

people who own, control and use the service.
 ILLUSTRATIVE EXAMPLE:
OWNERS CONTROLLERS CUSTOMERS

CORPORATION STOCKHOLDERS MANAGEMENT GENERAL PUBLIC

EG. SAN MIGUEL
CORP.
VARIETY STORE OWNER (NENA) OWNER (NENA) GENERAL PUBLIC
EG. NENA’S SARI-SARI
STORE
COOPERATIVE MEMBER MEMBERS THRU THE MEMBER
GENERAL ASSEMBLY ELECT
BOARD OF DIRECTORS AND
COMMITTEES WHO
MANAGES THE COOP
 BSSMC HISTORY
The three small coops (Tikey MPC, BAPA, BAFCO) was
merged into one coop (Bokod Sulphur Spring Credit
Cooperative) last 2014 and was registered the same year.

Bokod Sulphur Spring Credit Cooperative started its full

operation on March 2, 2015.

Bokod Sulphur Spring Credit Cooperative was approved to

become Bokod Sulphur Spring MultiPurpose Cooperative
last March 2017 during the General Assembly. It became
officially BSSMC last June 2017.
 BSSMC VISION

We envision to be the best; efficient,

sustainable, and progressive
cooperative, dedicated & committed in
bringing prosperity towards
transformation of its members and the
community.
 BSSMC MISSION
1. To provide affordable & quality services to the
members’ satisfaction by utilizing all resources
efficiently & effectively for better economic & social
benefits;
2. Promote better social relationship between officers,
staff and members;
3. Bring its services closer to the members for a
stronger mutual trust that should expand membership
& touch the lives of more people.
 ORGANIZATIONAL CHART
General Assembly

Audit Committee Board of Directors Election Committee

GEORGE SINAS NICOLAS B. WALES GINA A. SALVADOR

Chairman Chairman Chairman

DELIA B. ALMESA NESTOR P. SISON SUSAN B. SIGANG

Member Vice-Chairman Member

GIL AMDOS ELISIO M. CODIAMAN EVANGELINE DE AUSEN

Member Member Member

PELAGIA B. SANGGOY
Member
ARLENE D. LAMSIS
Member
Delinquency Education & Mediation/
Ethics
Control Training Conciliation
Committee
Committee Secretary Treasurer
Committee Committee

ARSENIA S. SINAS NESTOR P. SISON MAXIMO A. CAMADO AIDA L. ABIN ROSALINA C. SINAS
Chairman Chairman Chairman Chairman BETTY T. CALAWA
JOSEPHINE L. BATANES ARSENIA S. SINAS ANNIE F. ELIAS NORMA DERAS Manager
Member Member Member Member
SHIRLEY B. LAMSIS EBONY S. SAGPA-EY ROSALINA S. BAWAS JOHN TAMPOC
Member Member Member Member
Management
Staff
 Duties and responsibilities of members

• ATTEND TRAININGS AND GENERAL ASSEMBLY

• MAGBIGAY NG DEPOSITO AT KAPITAL
• “IPALAGANAP” ANG IDEYA NG KOOPERATIBA
• ALITUNTUNIN AY SUNDIN
• SUPORTAHAN KOOP PROGRAMA AT
SERBISYO
• BAYAD UTANG
 Coop’s Capitalization

1. Paid-up Share Capital---------- (Dividends)

2. Savings deposit---------- (Interest on savings)
- Kiddie
- Regular Savings and Special Savings
- Time Deposit
3. Borrowings--------------------- (payables)
Distribution of Net surplus

DPR
30%

GRF
50%

EF
10%
C
D
OF F
7%
3
%

GRF CDF OF EF DPR

DISTRIBUTION OF NET SURPLUS
Acronyms

DPR- Dividend Patronage Refund

GRF- General Reserve Fund
OF- Optional Fund
CDF- Community Development Fund
EF- Educational Fund
Distribution of Net Surplus After 5 Years

10%

3%

7%

10%
70%

GRF CDF OF EF DPR

 Services Offered
1. Savings
2. Credit
3. Unified Products and Services
4. Automated Teller Machine (ATM)
5. Mortuary / Healthcare assistance (ogbu)
6. Assistance to other organization
7. Insurance
8. Agri-trading store
9. Meatshop
10. Gadget Loan
 SERVICES

1.
SAVINGS
DEPOSITS
 SAVINGS
 Share capital (initial) P 2,000.00
 Regular Savings - 4% (maintaining balance) P 500.00
 Kiddie Savings - 4% ( maintaining balance) P 300.00
 Time Deposits

AMOUNT TERM(MONTHS)
3 6 9 12
5,000 - 49,999 1.1 % 2.3 % 3.5 % 5%
50,000 - 99,999 1.2 % 2.5 % 4.2 % 6%
100,000- 499,999 1.6 % 3.4 % 5.2 % 7%
500,000 - 999,999 1.8 % 3.9 % 5.4 % 8%
1M-2M 2.0 % 4.3 % 6.7 % 9%

NO DORMANCY OF ACCOUNTS & NO WITHOLDING TAX

 Special Savings
Senior Citizens
P500.00 maintaining Balance
P 4.5% interest rate/ annum
 SAVINGS <<<WITHDRAWAL>>>

Withdrawal of ₱40,000.00 must be

confirmed one (1) day before.
P60,000=3 days before
P100,000=5 days before
P500,000=15 days before
 SERVICES

2. LOANS
 REQUIREMENTS FOR A LOAN
1.Must be a regular member
- A new member can avail loan if his/her membership
application has been signed or approved.
2. Complies to the requirements (at least he/she availed
the back to back loan)
Note:
Loan is a privilege not a right.
-A privilege that a good member can avail
( HAS GOOD CREDIT STANDING and Capacity to Pay )
Privileges are not equal; it depends how a member establishes
its record in the Coop.
- Should be a person of his/her WORD. (Character)
 LOANS
1. PROVIDENTIAL LOAN
MODE OF PAYMENT TERMS INTEREST
Lump sum 6 6.5%
Monthly Amortized 12 to 60 months 13% per annum

2. PRODUCTION LOAN
MODE OF PAYMENT TERMS INTEREST
Lump sum 6 6.5%
Monthly Amortized 12 to 60 months 13% per annum

*Note: Monthly interest- 1.08%

Daily interest- .036%
 LOANS
3. SALARY LOAN
Loan Term: 1 to 5 years
Mode of Payment: Monthly Amortization
Interest: 13% per annum (Diminishing Balance)
4. HONORARIUM LOAN
Loan Term: 1 year
Mode of Payment: Monthly or Quarterly Amortization
Interest: 13% per annum (Diminishing Balance)
 LOANS
5. BUSINESS LOAN
Loan Term: 1 to 5 years
Mode of Payment: Monthly Amortization
Interest: 13% per annum (Diminishing Balance)

6. MICRO FINANCE
Loan Term: 6 months
Interest : 6.5% (1.08% per month)
Mode of Payment: Weekly or Daily Amortization
7. PETTY CASH LOAN
Loan Term: 3 months
Mode of Payment: Lumpsum Amortization
Interest Rate: 1% monthly
8. GADGET LOAN
Loan Term: 12 months
Mode of Payment: monthly amortized
Interest Rate: 1.08% monthly
 Loan Services

A Member / Applicant must attend a Borrowers’

Seminar or Loan Orientation before loan approval.
3.UNIFIED PRODUCTS AND
SERVICES
A. Remittance Services (send and pay-out)
1. International Remittance
- Trans fast
- I-remit

2. Domestic Remittance
- Cebuana Lhuillier
- Western Union
 UPS SERVICES
B. Credit to Bank
- BPI, LBP, BDO, PNB, Etc…
C. Bills Payment
1. Telecom: Smart, Globe, PLDT, (telecom PLANS)
- Utilities: T.V.; Cignal, dream, GSAT, Sky Cable/Sky Direct loads
- Loading- All networks
2. Insurance
-AXA, Fortune care, Fortune life, Phil Am life, etc…
3. Credit Cards
- Allied Bank, East West, SB, MBTC,
 UPS Services
D. Booking (flights reservations)
Travel and Tours
- Domestic
- International
4. OGBU PROGRAM
 A. OGBU MORTUARY PROGRAM
– In case a member dies, the bereaved family will receive aid benefit
computed based on the number of years of membership as follows:

Years of OGBU Benefit

Membership
Less than 1 year 20% of P 25 x No. of Members
1-4 years 40% of P 25 x No. of Members
5-7 years 60% of P 25 x No. of Members
8-10 years 80% of P 25 x No. of Members
More than 10 P 25 x No. of Members to maximum of
years P100,000
 B. OGBU HEALTH CARE PROGRAM
– In case of a member hospitalization, the member/beneficiary will receive aid
benefit computed based on the number of days confinement:
COMPUTATION
Percentage from One Piso (P1.00) multiplied to the number of members
(regardless of the length of membership)
__% x P1.00 x Number of Members = total
Given Percentage:
20% of 1 Piso (20cents) x Number of Members for 48 hours confinement
40% of 1 Piso (40 cents) x N0M for 5 days confinement
60% of 1 Piso (60 cents) x N0M for 8 days confinement
100% of 1 Piso (P1 ) x N0M for P10 days confinement
Out patient members and those who'vgone through Major operations will
also be given assistance regardless of day/s of confinement.
 UGBO Health Care Program
Upon membership, the member will have to deposit a
separate fund intended for this;
- Every member is mandated to deposit at least three
hundred pesos (P300.00) upon membership and be
replenished every year.
- The effectivity commences sixty (60) days before
hospital admission. (60 days after membership)
- The member is only allowed to avail the hospitalization
benefit twice in a year.
- It is a lifetime privilege which can be availed twice in a
year.
PROCEDURE &REQUIREMENTS
IN CLAIMING THE BENIFITS.
The claimant shall submit a sealed medical certificate
from the hospital where he/she was confined
For outpatient members, an authiize member of the
family shall submit a latest diagnosis of
abeneficiy isued by a hospital or a private doctor
Visitation and assessment shall be conducted
upon receiving the notice from any concern
individual for outpatient members.
The Medical certificate is only valid for 10 working
days from date of discharge
Medical certificate of more than working days shall not
be accepted.
 5. ATM service
- Withdrawals
Any ATM Cards issued by banks
6. OTHER SERVICES
A. 2nd party Insurance Provider
1. Loan Protection Program- loan insurance under Fortune
Life insurance Company

2. Agricultural Related Insurance- (crop, swine/poultry, green

house ) Calamity, animal diseases, pest causing bankruptcy…
Program under Philippine Crop Insurance Corporation (PCIC)

B. Assistance to Other Organization

-Book keeping, Good Governance, Leadership, Financial
Literacy, and other technical assistance.. (coaching)
7. AGRICULTURAL TRADING
-feeds (Pilmico)
-rice
-corn & etc..

8. MEAT SHOP
-pork with different cuts
 INITIAL PAYMENT OF MEMBERSHIP

–Share Capital (initial) P 2,000.00

• Initial Savings 500.00
• Membership Fee 100.00
• OGBU Mortuary Program 200.00
• OGBU Health Care Program 300.00
• Passbooks 200.00
• Service Fee 100.00
Total: P 3,400.00
 Minimum
• Share Capital (minimum) P 5,000.00
• Initial Savings 500.00
• Membership Fee 100.00
• OGBU Mortuary Program 200.00
• OGBU Health Care Program 300.00
• Passbooks 200.00
• Service Fee 100.00
Total P 6,400.00
 COOPERATIVE PLEDGE
So, I commit myself
As a Filipino To work, to cooperate One vision
I am and I For all to be One belief
believe prosperous
Harmony, Industry I
One feeling
In the will value In
cooperative Cooperative affairs I cooperativism
Alone I am weak will attend
Responsibilities I will
My life I pledge
But with others assume So help me
I am strong. The Cooperative God.
philosophy I will live.