4 Bulacan coops make CDA billionaires' list

By Manny Balbin

October 4, 2018, 7:45 pm

<p><strong>COOPERATIVE MONTH.</strong> Governor Wilhelmino M. Sy-Alvarado (second from left) and Vice Governor Daniel R. Fernando (fourth from left) pose for a souvenir photo with Cooperative Development Authority (CDA) Executive Director Giovanni Platero (third from left), representative of Chairman Orlando Ravanera as guest speaker, during the opening program of the Cooperative Month held at Bulacan Capitol Gymnasium, City of Malolos, Bulacan on Tuesday (Oct. 2, 2018). Also in the photo are (from left) Board Member Ma. Lourdes Posadas, CDA Regional Director Marieta Hwang, Provincial Cooperative and Enterprise Development Office Head Cynthia Abiol and Rannie Jimenez of the Landbank of the Philippines. <em>(Photo by Manny Balbin)</em></p>

COOPERATIVE MONTH. Governor Wilhelmino M. Sy-Alvarado (second from left) and Vice Governor Daniel R. Fernando (fourth from left) pose for a souvenir photo with Cooperative Development Authority (CDA) Executive Director Giovanni Platero (third from left), representative of Chairman Orlando Ravanera as guest speaker, during the opening program of the Cooperative Month held at Bulacan Capitol Gymnasium, City of Malolos, Bulacan on Tuesday (Oct. 2, 2018). Also in the photo are (from left) Board Member Ma. Lourdes Posadas, CDA Regional Director Marieta Hwang, Provincial Cooperative and Enterprise Development Office Head Cynthia Abiol and Rannie Jimenez of the Landbank of the Philippines. (Photo by Manny Balbin)

CITY OF MALOLOS, Bulacan -- Four cooperatives in this province made it to the list of Top 50 cooperatives in the billionaire bracket of the Cooperative Development Authority (CDA) in 2017.

These are: St. Martin of Tours Development Credit Cooperative, which has PHP1.96 billion worth of assets; San Jose del Monte Savings and Credit Cooperative, PHP1.66 billion; Manatal Multi-Purpose Cooperative, PHP1.52 billion; and Ligas Kooperatiba ng Bayan sa Pagpapaunlad, PHP1.51 billion.

During the opening program of the Cooperative Month held at the Bulacan Capitol Gymnasium early this week, CDA Executive Director Giovanni Platero said cooperatives are instruments in uplifting the quality of lives of its members.

“As a modern cooperative, not only do we work in economic activities, we need to transform cooperatives as an organization that complies with social issues and environmental concerns,” Platero said.

Governor Wilhelmino M. Sy-Alvarado believes that cooperatives balance the trade competition between huge corporations and the small and start-up entrepreneurs.

“The cooperatives fully encouraged the economy of Bulacan by extending free trade and commerce to the province and providing opportunities for all small investors who later became an integral part of the free market competition,” he said.

The following activities have been lined for the Cooperative Month celebration, themed “Cooperatives: Partners for Building Resilient and Empowered Communities Towards a Better and Stronger Communities”:  1st Central Luzon Regional Cooperative Congress on Gender and Development (GAD) and Cooperative Tax Exemption (CTE) on Oct. 16 to 17; Regional Kooplympics on October 19; and Gawad Galing Kooperatiba awarding ceremony on October 24 at The Pavilion, Hiyas ng Bulacan Convention Center in this city.

Meanwhile, Board Member Allan Ray Baluyut authored a resolution urging the House of Representatives, through Bulacan (1st District) Rep. Jonathan Sy-Alvarado, to recognize the province of Bulacan as the “Cooperative Capital of the Philippines.”

There are 413 active and compliant cooperatives in this province with a total net worth of PHP14.99 billion and 370,000 members, which is almost 50 percent of the figures in the entire Central Luzon. (PNA)

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