Assets of employees cooperative rises to P15 million

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BAGUIO CITY – The Baguio City Government Employees Multipurpose Cooperative (BCGEMPC) announced a significant growth in its current assets has reached over P15 million from over P2 million worth of assets over three years ago.

City Assessor Maria Almaya Addawe, the chairperson of the BCGEMPC Board of Directors, also said the current membership of the cooperative of more than 700 the cooperative is almost triple compared to the over 200 members when she took over the management of the employees cooperative in 2016.

Addawe graced the 3rd Employees Summit attended by more than 400 employees of the city government to entice more government workers to join the employees cooperative to allow the possible expansion of its services and business undertakings.

The BCGEMPC is currently offering members with loans ranging from P10,000 up to P150,000 to its members for their emergency needs and other endeavors.

Further, the BCGEMPC also maintains a cooperative store in city hall as one of the sources of its income with a return to the members through patronage refund that reached 4.7 percent of their deposits.

According to her, the employees cooperative continues to operate with a lean and mean work force while maximizing the potentials of other employees in administering and managing the affairs of the cooperative that was established for the welfare of city hall officials and employees wanting to optimize the gains of their hard earned money.

Addawe disclosed the employees cooperative usually distributes dividends and patronage refund to its members every February after the closing of books at the end of the year.

She stated the cooperative continues to venture on other income-generating activities that will improve its income and provide more benefits to its increasing members aside from improving its available services that will boost its operation even with a lean and mean work force but with proactive members.

At present, the BCGEMPC is recruiting more members from permanent officials and employees of the city government to help increase its members and those that will patronize its services and increase in its assets.

Addawe expressed optimism more permanent officials and employees will be encouraged to be members of the cooperative so it can build its assets and venture on other productive income-generating projects beneficial to the greater interest of the members and become one of the successful cooperatives in the region.

Aside from city government officials and employees, clients of the different offices also patronize the products being sold by the cooperative store which is a big boost in increasing the generated income of the cooperative.

By Dexter A. See