Magsaysay coop opens Davao branch-A A +A
Monday, May 28, 2012
THE Magsaysay Multi-Purpose Cooperative (Magcoop) officially opened its Davao City branch last May 17 at Magsaysay office along Palma Gil St.
Magcoop chairman Marlon Roño himself graced the opening and blessing of the new branch and was joined by his officers and members of the cooperative.
Roño said Magcoop presently has P280 million on total assets and P178 million in loan portfolio.
Magcoop had only around 20 members when it was established back in 1986, but the figure grew to over 20,000 members today.
Early this year, the Magcoop Board approved the release starting Feb. 28 of the Patronage Refund for its 2011 operations.
The Patronage Refund is credited to the members' bank account.
The Cooperative Development Authority has cited Magcoop as one of the top 50 cooperatives in Metro Manila and the National Capital Region.
Magcoop was also recognized for its effectiveness and efficiency as a business enterprise in terms of assets.
Magcoop was organized voluntarily by employees, seafarers and allotees of the Magsaysay Group of Companies. (CRAM)
Published in the Sun.Star Davao newspaper on May 29, 2012.