Data generated for the last 3 years indicated sustained growth trends on total assets of cooperatives in the Cordillera Administrative Region (CAR). A quick computation on the assets of the top 5 cooperatives in CAR for the last 3 years indicated 16% to 118% increase.
If the current growth trends will continue, possible changes in the current ranking can change 2-3 years from now. At present BBCCC still leads followed by TAMPCO, ADTEMPCO, BSU C& MPC and Lagawe Multipurpose Development Cooperative (LMDC). In 2016 we projected that the number of billionaire cooperatives will increase within the next 5 years. But circumstances were too fast that BSU MPC turned billionaire last year and information reached us that another cooperative reached the billion marks this year confirming the trend analysis.
The current increase in membership, total assets, expansion of businesses, business integration and diversification definitely changed the status of cooperatives from the usual tagline of cooperative “as not for profit but for service” into “business enterprise with a mission”.
After the United Nations declared 2012 as International Year of Cooperatives and considered these as business enterprises, cooperatives continually increase its share in the various industries.
The current challenge for all cooperatives in the country is how to sustain growth trends while delivering the services to the members. Observations pointed out that as membership increase, total assets increase. In some observations, increase in membership results to lesser patronage refund and interest on share capital.
Except for some cooperatives that increased their assets as a result of borrowings or grants, most cooperatives generate their finances from members share capital contributions, savings and time deposits of members.
Members must understand that cooperatives are formed to serve the basic needs of its shareholders and granting of high interest on share capital and patronage refund is secondary. It is on this premise that while cooperatives grow in terms of assets, it should always remember that members’ satisfaction on the services rendered is the primary concern.
News from the field reached us that one billionaire cooperative increased its asset by 500 million while another cooperative increased by 285 million. We need to receive the financial reports of these cooperatives before we can disclose their identities.
Lastly, we congratulate all elected and appointed cooperative officers, hired staff and new members. Let us join hands and work together to sustain the gains and empower communities to build a better world. HAPPY STRAWBERRY FESTIVAL TO ALL!