Millionaire coop holds general assembly

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Monday, May 14, 2012

AS MILLIONS of members of the cooperatives worldwide celebrated the International Year of Cooperatives (IYC) on Saturday, a millionaire coop organization in Cagayan de Oro also celebrated its 16th year existence at a popular hotel and restaurant here on same day.

With a theme: “Transformative Cooperatives for People, Planet, Prosperity and Peace,” Oro Savings and Sharing Cooperative (OSSC) at the same time had its general assembly, gathering almost 2,000 members coming from five branches -- Main-Pacana and Cogon branches in Cagayan de Oro; Tagoloan and Initao towns in Misamis Oriental; and in Damilag, Bukidnon.

OSSC, started on a measly P35,000 start-up capital, is now a millionaire organization managing P124-million assets; 16,000 members; and five branches after 16 years of operation as a cooperative, announced Emmanuel M. Santiaguel, chairman of the Cooperative Development Authority (CDA).
Santiaguel was the guest speaker during the general membership assembly.


Meanwhile, in his speech, Santiaguel emphasized the need of continuous training and education of cooperative officials in every organization, which he said, is pointed as the main reason why most cooperatives had closed shop, “because with the absence of series of training and seminars, many cooperatives went bankrupted.”

He said out 70,000 registered cooperatives in the country, only 20,000 re-registered with the Cooperative department.

“Where are the other (50,000) cooperatives?” he asked adding: “This is what fears me. Sayang, sayang if mangyayari (to OSSC).”

“But I believe, we the able leadership of the present OSSC officials, hinding hindi mangyayari ang nangyari sa ibang cooperatives,” he said.

He also appealed to OSSC and other cooperatives in the country to “set aside personal interests.”

“That’s why there is the need to refresh cooperative officials on character building and vigilance,” he said.

Santiaguel also called on cooperative members to select the best leaders to man the organization “para hindi bumagsak.”

He cited that enlightenment of the general membership on the plans and programs of cooperatives, effective and dedicated; and honest and efficient management would make the organization as successful as it can be.

Published in the Sun.Star Cagayan de Oro newspaper on May 15, 2012.


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