THE Community Multi-Purpose Cooperative (Capgem) will hold its 30th General Assembly on Saturaday, April 6, at the SMX Convention Center and will give out more than a million worth of raffle prizes.
Arnel Algusar, chair of Capgem’s Business and Investment, revealed that Governor Alfredo Marañon Jr. and Rep. Alfredo Benitez (3rd district, NegOcc) will be the guest speakers in the assembly.
Budget appropriations and the election of the five members of the board will be held during the assembly of about 4,000 members, mostly Capitol employees, Algusar said.
Capgem was founded by former governor Daniel Lacson during his administration.
In its 30 years of existence, Capgem has greatly transformed into a multi-million cooperative with assets amounting to P408 million as of last year.
In the Board and Management report of its officers, led by chairperson Sanny Balinas, Capgem mentioned savings and time deposits amounting to P168 million and paid-up capital of P167 million.
“That's why Capitol employees and other members are now enjoying dividends that are released three times a year,” Algusar said.
He further revealed that Capgem now offers 7.4% percent per annum for savings deposit.
Capgem now has its own building.
The loan they availed for the construction of the building already has a return of investment through rentals of the Provincial Assessor’s Office following the demolition of the Provincial Administration Center. (TDE)