LEGAZPI CITY, April 27 (PNA) —- A top executive of the Cooperative Development Office (CD0) in this city has cited the success stories of five top-grossing cooperatives from among the 70 cooperatives in Legazpi City for showing annual incomes of PHP3 million and above.
City Cooperative Development Officer Gina Marie Belches cited the five to serve as an inspiration to participants attending a two-day seminar on “Capability-building for Micro Cooperatives” held in this city in partnership with the Cooperative Development Authority (CDA).
“They were given an award by CDA-Bicol as the top 5 grossers because they recorded an income of PHP3 million above annually,” she said.
Mayor Noel E. Rosal told officers of the cooperatives, who gathered for the two-day event, which started on April 27, that the city administration and CDA always support the projects of the cooperatives.
“This will improve the economic activities in different villages and will be one way of generating more employment opportunities to address the poverty problem in the communities,” he said.
Belches said the top five grossers are among the 54 cooperatives in the city which could be deemed as “functional and operational” from among 70 registered cooperatives in Legazpi City.
The five top grossers are the Legazpi City Government Employees Welfare Association Multi-Purpose Cooperative or LECIGEWA-MPC, Department of Interior and Local Government or DILG Development Cooperative, Legazpi City Division Credit Cooperative, Cathedral Parish Credit Cooperative (serving parishes in the diocese of Legazpi) and Bicol University Multi-Purpose Cooperative.
Belches said all the registered cooperatives here also render social services for people in the community such as the “Clean and Green program.”
“They also serve in the feeding program for pupils enrolled in the city’s Day Care Centers,” she added.
Belches said CDO will also conduct trainings on financial management, record management and strategic planning workshops for the officers and members of the registered cooperatives to enhance their know-how on cooperative management.
She noted that different cooperatives operating in this city have been categorized into “small, medium, large and micro.”
Belches said the small cooperatives operate with a capital of at least PHP3 million up to PHP 15 million while the medium cooperatives operate with a capital of PHp50 million.
“The large coops have a capital of PHp100 million and above compared to the so-called ‘micro cooperatives’ which have a capital of PHp3 million and below,” she added. (PNA)