A.

Introduction
(A1) A credit union is a financial cooperative owned and democratically controlled by its

members. It is operated for the purpose of maximizing the economic benefit of its

members by providing financial services at competitive and fair rates. It is created for and

by its members who are its depositors, borrowers, and stakeholders. Like a bank, a credit

union offers many banking services, such as consumer and commercial loans, which

usually have lower interest rates than that of the market; time deposits, which usually

have higher rates than that of the market; credit cards, and guaranties.

(A2) Description of the Area of Cooperative

Tangub City, located at the southern curve of the D-shaped province of Misamis

Occidental, is surrounded and bounded by Mt. Malindang on the north, Ozamis City on

the east, Panguil bay on the south, and the Municipality of Bonifacio on the west. The

citys commerce and industry is basically agricultural since more than 60 percent of the

kand is devoted to farming. Main products from Tangub city are mostly coconut, corn,

and banana however, fishing is also another source of livelihood of the people residing in

the city. Tangub City is not completely a rural area, it also has other occupations aside

from farming such professions as professional practice, handicraft, blue collar jobs,

private businesss and employment. Ateneo Credit Cooperative will specifically be

situated in Magsaysay building along Ramylu Drive at Barangay Guinabot, a rural

barangay with the greatest population situated at the Southwest district of Tangub City.

Barangay Guinabot is situated

A3
Membership
Ateneo Credit Cooperative shall have regular membership only. A regular member is one

who has complied with all the membership requirements and entitled to all the rights and

privileges of membership.
Qualifications
The membership of this Cooperative is open to all bonafide students of Xavier University

Ateneo de Cagayan. These are students, who can make use of its services, are in

agreement with its purposes and its by-laws. Members who have retired may opt to

continue membership in the Cooperative. Membership may be opened to students and

employees of other Atenean schools that formally signified to be associated with the

Xavier University as approved by the Board of Directors and the General Assembly. The

prospective members should:

a. Undertake to uphold the By-laws, policies, guidelines, rules and regulations

promulgated by the Board of Directors and the general assembly;

b. Complete the prescribed pre-membership cooperative education program;
c. Use or anticipate to use the services of the cooperative more particularly the

savings and loaning services and other allied services relative thereto;
d. Pay the required membership fee; and e. Pay the required initial minimum share

capital or initial investment. Provided that no member shall be accepted if he/she

is already a member of an existing cooperative of the same kind operating in the

same area.

Application of membership
The application for membership shall be made in writing on a form provided for the

purpose and shall be presented to the Board of Directors for action, within thirty days

from the date of filling. No application for membership shall be given due course if not

accompanied with a membership fee of One hundred Pesos (P 100.00), which shall be

refunded to the applicant in case of rejection. The membership fee may be adjusted by the

Board from time-to-time.

Minimum Share Capital Subscription
An applicant for membership shall subscribe at least ONE HUNDRED (100) shares and

pay the value of at least ONE (1) share upon approval of his membership. However, no

member shall own or hold more than ten percent (10%) of the total subscribed share

capital of the Cooperative. The Board of Directors shall issue membership certificate and

subscription agreement with such terms and conditions as may be deemed equitable.
Duties and Responsibilities of a Member
Every member shall have the following duties:
a. Pay the installment of his share capital subscription as it falls due and to

participate in the capital build-up and savings mobilization activities of the

Cooperative;
b. Patronize the Cooperatives businesses and services;
c. Participate in the membership education programs;
d. Attend and participate in the deliberation of all matters taken during general

assembly meetings;
e. Observe and obey all lawful orders, decisions, rules and regulations adopted by

the Board of Directors and the general assembly; and

f. Promote the goals and objectives of the Cooperative, the success of its business,

the welfare of its members and the cooperative movement in general. The Board

may determine additional duties that may qualify members of good standing
Member entitled to vote
Any regular member who meets the following conditions is a member entitled to vote:
a. Paid the membership fee and the value of at least ONE HUNDRED (25) shares;
b. Not delinquent in the payment of his share capital subscriptions and other

accounts or obligations;
c. Not violated any provision of this By-laws, the terms and conditions of the

subscription agreement; and the decisions, guidelines, rules and regulations

promulgated by the Board of Directors and the general assembly;

d. Completed the continuing education program prescribed by the Board of

Directors; and
 e. Participates in the affairs of the Cooperative and patronize its businesses. Failure

of the member to meet any of the above qualifications shall mean loss of right to

vote.
Right of a regular member to vote
A member entitled to vote shall have the following rights:
a. Participate and vote on all matters deliberated upon during general assembly

meetings;
b. Seek any elective or appointive position, subject to the provisions Sec. 2A of this

By-laws and the Philippines Cooperative Code of 2008;

c. Avail himself of the services of the Cooperative, subject to certain conditions as

may be prescribed by the Board of Directors;

d. Inspect and examine the books of accounts, the minutes books, the share register,

and other records of the Cooperative during office hours;

e. Participate in the continuing education and other training programs of the

cooperative; and
f. Such other rights and privileges as may be provided by the General Assembly.

(A4) The government of Tangub city plans to improve infrastructures, for efficient

delivery of farm products and also to spur economic development, with this, the Local

Government Unit of Tangub exerted its effort to improve and maintain concrete barangay

roads such as the rehabilitation of the damages paved arterial road along Ozamis-

Pagadian road and the concreting of the farm to market road of Barangay VII in Tangub

city. Aside from improving infrastructures, the government of Tangub city also plans to

protect, conserve and sustainably manage the remaining forest of the city resulting to the

government of the city to establish plantation of industrial trees to its communal forest

thus the project, Salimpuno Reforstation Project A 10 Hectares Project. The city

government of Tangub city also plans to maintain and sustain the existing cultural

tourism activities of the city then resulting to local city officials gearing towards the
promotion of existing tourism programs such as the Mindanao Association of Museums

International Conference.
B. Rationale for organizing a cooperative

A group of Ateneo students formed a credit union composed of 15 members to organize a

cooperative to be put up in Brgy. Guinabot, Tangub City, Misamis Occidental and named

it Ateneo Credit Cooperative (ACCO). The group decided to place the credit cooperative

in Tangub City after founding out in the times of their research that the place was

dominated by agricultural land, in fact it was 60% of their land are devoted for farming.

Their main products are coconut, corn and banana; fishing is another source of livelihood

of the people living in the City. These kind of community best suits to have a Credit

Cooperative created just around the area or with in the circumference of the City. As a

part of the research, the group found out also that financial services and institutions are

quite far from the City, they have to travel a kilometer or 2 hours just to reach the

cooperatives in the other City.

The research and surveys help the group to conclude and to put up ACCO. So, Ateneo

Credit Cooperative is created to help the people in Tangub City to have easy access and

convenient credit cooperative that could help them for their startup businesses and could

help alleviate the peoples socio-economic status in the City. ACCO also aims to help and

become part for the development and progress for the people and to the City. This is how

Ateneo Credit Cooperative started and being organized.

In Ateneo Credit Cooperative:

Youre a member and owner not just a customer

Just like any credit union, the members are their customers, meaning these

customers may also take part of voting for the board of directors, take part in

the operations and the decision making of the credit union.

 Enjoy better rates
Members of ACCO get to enjoy lower rates on loans and at the same time earn

through higher rates in deposits and through receipt of dividends.

Nothing to Lose
Members of ACCOs only standard requirement for membership is that they

be a resident of the city and after application these members can and will

enjoy the same services as banks without any hassle in terms of checking,

savings, loans, and investment options.

Beyond-Banking Perks and Free Education
It offers products such as individual health insurance, financial advisory

services and it focus on communitys enrichment and financial education, with

many offering classes or other educational services to the community.

Tackles poverty and create food security
ACCO enables smallholders in partner countries to make market products

together and get a stronger voice in the global supply chain.

Social Service
With self-help and mutual help, ACCO foster fellow feeling among other

members and inculcate moral values in them for better living.

Alleviate Status in Life
Loans provided with lower rates can give them progress especially on

productive loan that help lift their lives from poverty to a good status.
Fewer Complications
Less worries and hassle, ACCO offers checking and savings account with

simple, easy-to-follow terms.

Mutual Aid Plan
Provide financial help to those heirs and relatives left by the decedent.
C. General and specific purposes of the proposed cooperative
General Purpose:
Building a cooperative that will be easier for the residents in Tangub City to access.
Specific Purpose:
Promoting social responsibility by helping the community improve their way of living.
Proposed Business Activities:
Facilitating the accumulated savings of the members
Providing loan services to the members with lower interest rates
Giving a sustained support on the economic and social needs of the members
 Providing opportunities to people with lesser incomes by using their resources

without depending on other agencies

Providing training and information to develop the members, as well as the staffs
D. The visibility of forming a cooperative

(D1) The current socio-economic condition of the community

Theres no other cooperative in the city or nearby that is helping the people. They have to

travel first, in which it takes more time for them, just to reach the cooperatives in the

other City. By that, there are only a few sources of funds available and only limited

opportunities for the people to grow. Also, farmers are not capable to be self-sufficient in

their production because of lack of machinery. By permitting them to join together as a

cooperative, individuals are better able to acquire inputs, production services, and

marketing for their produce. This helps enhance the development of small-scale farmers

and other communities in Tangub City.

D2 The growth of Ateneo Credit Cooperative shows how our members trusted the

cooperative. The management of Ateneo Credit Cooperative hopes that our members will

continue to patronize the services offered and at the same time convince other people

especially the farmers to be part of the Ateneo Credit Cooperative family. The following

are the existing programs or services that would cater the needs and problems of the

cooperative.
To improve our services, we are opening from Mondays to Saturdays so that those

members who cannot transact business on weekdays could now do payments,

deposits and apply for loans.

Ateneo Credit Cooperative has the partnership with Globe and Smart for the

mobile money where business transaction like deposits and payments can be done

using members mobile phone.

Provide training to empower Ateneo Credit Cooperative women members who

owns small enterprises like sari-sari store and eatery.

 The health maintenance is being implemented with Ateneo Credit Cooperative

this would benefit the use of premiums and excellent services. This is beneficial

to cooperatives and members entire family.

Ateneo Credit Cooperative signed a partnership with AGCO that aims to improve

agriculture production on Horticulture and Livestock. Tangub City will be

benefited from this joint venture and even our members will have a full access

with the equipments.

D3 Given that there are no existing cooperatives in Brgy. Guinabot, it is situated at the

mountains far away from the city, and that it has the most population out of all the

barangays in the city, the proposed credit union will be able to succeed in its business

operations serving the needs of the farmers, the haciendas, and the people who are

residents of Brgy. Guinabot. The proposed cooperative will be able to help the people in

Brgy. Guinabot reach an easy access of funds since the cooperative will be situated within

the Barangay, this proposed cooperative will also help them avail of the services offered

in banks and other cooperatives without giving so much effort to go down town to be able

to deposit, loan, or avail of such services and needs that are available in ACCO anyways.
D4 D5 The following office equipments are required for business:
Tables
Chairs
Calculator
Filing Cabinet
CCTV for security
Computer
These items will be obtained through cash purchases and may also be obtained through

any donation made.

(D6) Special training for members will be required for them to become prepared for

membership in regular cooperatives. Education Committee is assigned to make members

understand what a cooperative is, teach the value of thrift and saving mobilization; to

inspire cooperative values, principles, discipline, and leadership skills; and promote
 awareness and sustainable development. Training is also necessary to know the strengths,

weaknesses and personalities of each member. By special training, members can do their

responsibilities in cooperative and how to respond when being chosen by general

assembly to manage the cooperative. By special training, members can build a good

relationship and can make firm foundation for the cooperative.

D7 Cooperative will obtain its operating capital from its members, its surplus, and its

external sources.
a. Deposits of member:
The Cooperative will receive contributions and deposits from a member to

start its operations;

The Cooperative will ask one-time or annual membership fees;
The Cooperative will charger service fees from members;
The Cooperative will use member deposits to lend money to the borrowers

with specific interests;

Share capital of members represents commitment to the cooperative. It is

withdrawn only when the member leaves the cooperative.

b. Cooperative Surplus:
Funds created through the retention of cooperative business surpluses will

be another important source of cooperative capital;

These funds to be distributed only when a cooperative is liquidated;
Some of this surplus will be distributed to the members after reserving for

the cooperative to sustain its growth and finance operations.

c. External Sources:
The Cooperative may borrow money to start its operations, it may be a

short-term loan or a long-term loan;

The Cooperative may accept donations, subsidies, grants and aids from

any person, whether natural or juridical, local or foreign both government

and private.
E. Financial Aspects

Projected Expenditures
E1 The start-up money will be funded by the contribution of each member. Per share is

Php 10.00 and each member will subscribed 100 shares which will be equal to Php

1,000.00 worth of shares.

Expenditures:
Food Php 525.00
Rentals 1,000.00
Water Charges 500.00
Electricity Charges 500.00
Salaries Expense
1. Manager P3, 000.00 per month
2. Cook P2, 000.00 per month
3. Servers P500.00 per month
Miscellaneous Expense
1. Receipts 50.00
2. Ball pen 20.00
3. Papers 20.00
Total Php 8,115.00

Source of Income (3 or 5 year period)

SOURCE OF FUNDS The cooperative shall derive its funds from:

a. Share capital;

b. Deposits;

c. Capital reserve;

d. Loan Capital;

SHARE CAPITAL
The term share shall refer to a unit of capital, the value of which is TEN PESOS

(Php10.00). Serially numbered certificates of the cooperative shall be issued to

each member upon the full payment of the subscription, and for subsequent shares

as they are paid for. The certificate shall contain the shareholders name, the

number of shares owned, the par value and duly signed by the President and the
 Secretary, and bearing the official seal of the cooperative. All issues and transfers

shall be registered in the stock and transfer book.

The shares may be purchased, owned or held only by persons who are eligible for

membership. Interest may be paid only on the paid-up capital at the rate

prescribed by the CDA and such interest may be in cash, or credited towards

payment of subscriptions, outstanding accounts, or additional shares or to the

revolving fund of the cooperative.

CONTINUOUS CAPITAL BUILD-UP - Every member shall invest in the share

capital build-up of the cooperative at least TEN PESOS (P10.00) of his monthly

allowance until he has paid ONE THOUSAND PESOS (Php1, 000.00).

MEMBERS TOTAL SHARE CAPITAL. A member shall subscribe a minimum

of One Hundred (100) Shares with a total value of One Thousand Pesos (P1,

000.00).

DEPOSITS
SAVINGS DEPOSITS Any member, in addition to his share capital investment,

may open a savings deposit, the rate of interest of which shall be determined by

the Board, in no case to exceed the rate prescribed by Banko Sentral.

Savings deposits not failing below any amount set by the Board during any

calendar month shall be entitled to interest to be computed annually based on the

average monthly balance outstanding during the period. The interest shall be paid

to the member during the General Assembly Meeting.

Savings deposits may be withdrawn during the depositors membership at any

time that the office of the Ateneo Credit Cooperative is open for business, but no

member shall be allowed to withdraw there from more than two times a year,

except on meritorious cases and upon approval of the Credit Committee and the
 Board whenever conditions warrant it. The Credit Committee may require at least

sixty (60) days notice in writing of the depositors intention to make withdrawal.

WITHDRAWALS FROM SAVINGS DEPOSIT. As a general rule, only three

withdrawals are allowed within a year. Service fee is P1 per withdrawal.

To assist the members to better manage their funds, minimum limits

are set for the withdrawals:

First (1st) Withdrawal Not less than P100

Second(2nd)Withdrawal Not less than P200

Third (3rd) Withdrawal Not less than P300

Fourth and Fifth withdrawals may be granted for the following

reasons: for tuition fees, hospitalization, medical expenses and other

unforeseen expenses due to calamities.

Service fees for the 4th and 5th withdrawals are P4 and P5

respectively.

The minimum limits set for the fourth and fifth withdrawals are:

Fourth (4th) Withdrawal Not less than P300

Fifth (5th) Withdrawal Not less than P400

Justification letters should be attached to the requests for the fourth

and fifth withdrawals, for approval by the General Manager.

CAPITAL RESERVE
A minimum balance of P100 will be required of all savings deposits. Savings

Deposit below P100 will not earn interest.

LOAN CAPITAL
 BORROWING The cooperative, through the Board of Directors with the

approval of the General Assembly may borrow money from any source at the best

terms and conditions available and in such amount that may be needed.

FIRST LOAN. The following requirements are a MUST before a new member

can avail of any loan:

Payment of P1.00 membership fee;

Attendance of the educational seminar for new members;

Three (3) months residency,

Payment of at least 10% of subscribed capital stock or P10 for the

availment of a regular and/or emergency loan;

Payment of 60% of subscribed capital stock or P600 for the availment

of all the other unsecured loan.

AMOUNT OF REGULAR LOAN. The maximum loanable amount is Php2250

plus 75% of monthly allowance, subject to the share capital, savings deposit, and

co-maker requirements.

The limits of loanable amount for regular loan for members whose

membership in the cooperative ranges from one (1) to ten (10) years

will be covered by the following guidelines:

Years of Maximum Loanable Amount

No Co-Maker One Co-Maker Two Co-Makers
Membership
1-3 Years P 500 P 510 - 1000 P 1010 - 1500
Above 3-6 Years P 1000 P 1010 - 1500 P 1510 - 2000
Above 6-10 Years P 2500 P 2510 - 3000 P 3010 - 3500
Above 10 years P 3500
 Co-makers must be members of Ateneo Credit Cooperative in good

standing and are permanent student of the school for at least 1 year.

Directors, officers and committee members of the Coop are not

allowed to be co-makers.

AMORTIZATION OF LOANS. Amortizations of loans are made through capital

deductions. Payments through post-dated checks are not allowed. Deficiency in

payments will be charged to savings deposits. A member who incurs two (2)

deficiencies will be allowed to borrow up to 150% only of his share capital and

savings deposit, upon renewal of his loan. A member who incurs three (3) or more

deficiencies will be allowed to borrow up to 100% only of his share capital and

savings deposit upon renewal of his loan.

EMERGENCY LOAN. Presently a member can avail an emergency loan in the

amount of Two Hundred Fifty (P250) Pesos for emergency purposes. The loan

may be paid in one time lump-sum payment after a period of six months or in

installment basis not to exceed one year. If the emergency loan is not paid upon

maturity date, the delinquent member can borrow only Two Hundred when he/she

renews his/her emergency loan. A member who fails to pay his/her emergency

loan upon maturity will be subject to the following sanctions:

Frequency in Failure to Pay on Time Loanable Amount

First Time Php20,000
Second Time Php20,000 which can be availed of in two

months after payment of the previous

emergency loan
Third Time Php20,000 which can be availed in three

months
 oncea member pays on time, the maximum loanable amount can be availed

UNSECURED LOANS. In addition to the regular loan, the following are the

unsecured loans available to qualified members:

Emergency loan of P250.

Computer loan of P400 for desktop and P500 for laptop.

Calamity loan of P300.

Travel loan of P700 for Field Trips, P300 for local tours, and

P500 for pilgrimage

Cell phone loan of P250.

Medical/Health Equipment loan of P200

Educational loan of P600

Emergency Medication loan of P50.

Extreme emergency loan (difference of hospital bill and HMO)

The maximum loanable amount for unsecured loan is set at Php700 for

members with Php500 share capital. All types of unsecured loans can be

availed within this amount.

For members with less than Php500 share capital, the maximum loanable

for unsecured loan is set at Php500. All types of unsecured loans can be

availed within this amount.

If 60% of the unsecured loan is already paid then the loan is eligible for

renewal and the member can apply for another unsecured loan.
 A member who incurs deficiency in the payment of his/her unsecured loan

will only be allowed to borrow another unsecured loan three months after

the payment of the previous unsecured loan.

INTEREST ON REGULAR LOAN. Members pay .625% a month interest on

loan, deducted in advance.

TERMS OF LOAN INTERST RATE

4 months 2.500%
6 months 3.750%
10 months 6.250%
12 months 7.500%
15 months 9.375%
18 months 11.250%
20 months 12.500%
24 months 15.00%
27 months 16.875%
30 months 18.750%
33 months 20.625%
36 months 22.500%

INTEREST ON EMERGENCY LOAN. Interest on emergency loan is 0.5%

higher than the regular interest if paid in one time lump sum. So the interest for

six months is 4.25 % instead of 3.75%.

SERVICE FEES. A service fee is charged to all loans whether regular or

unsecured loan and the rate will depend on the term of the loan as follows:

TERMS OF LOAN SERVICE FEE RATE

From 1 month 6 months 0
6 months 12 months 1.0%
12 months 18 months 1.5%
18 months 24 months 2.0%
24 months 30 months 2.5%
30 months 36 months 3.0%
RENEWAL OF REGULAR LOAN. A member may apply for a loan renewal

even before the loan is fully paid provided 60% of the loan has been paid. The
 balance of the loan, which is 40%, will be deducted from the proceeds of the new

loan. An interest rebate will be computed on the balance of the loan. The interest

rebate will be determined based on the number of the months still remaining

unpaid.

PATRONAGE REFUND AND DIVIDENDS. The members are entitled to an

annual patronage refund and dividends on their share capital and interest on their

savings deposits.

OTHER GUIDELINES ON LOANS:

Emergency loans that are three (3) months overdue will be automatically

charged to the members savings deposits.

Ateneo Credit Cooperative members with permanent and with at least (3)

three years are eligible to avail of the computer loan.

Capitalization

a. Initial paid-up Capital

The Ateneo Credit Cooperative ACCO is form of fifteen members that each member

will contribute Php1, 000.00 with a total of Php 15,000.00 for the Initial paid-up

capitalization for the cooperative needed.

b. Saving and Capital build up schemes.

Savings Deposits

The Cooperative is authorized by the CDA to accept deposits from the

members and other stakeholders to increase its revolving capital and to

 inculcate savings consciousness among them. Any member, in addition to this

share capital, may open a Savings and the interest rate is determined by the

Board of Directors at the beginning of the calendar year. At the end of the

amount, the interest earned on savings deposit shall be credited automatically

to the depositors account.

Capital build-up Schemes

The cooperative should engage in capital building schemes to able to extend

the maximum service to its member. The Following Capital Building Schemes

of the cooperative is the following;

1. Continuous Capital Build-Up - This scheme will encourage the

member to invest in the share of capital of the cooperative.

2. Raffle draw- This scheme does not sell tickets or solicit funds from the

public. It is merely encourage the members to add to their own savings

and share capital. The more the members add for their share capital,

the more ticket they can have. And this scheme will be held during

General Assembly and the prizes will also be given. After all, the

objective of this scheme is to increase the capital and income of the

cooperative.
3. Authorized Retention from loans - In this scheme the staff shall deduct

a percentage from every loan granted and adds the deducted amount to

the borrowers share capital

4. Share Certificate - This scheme is the distribution of the interest on the

capital and patronage fund, which is form of share certificates.

5. Salary deduction - this scheme is for those members who sign for the

payroll deduction to save regularly.

6. Revolving fund - this scheme of generating capital by deferring

payment of interest on shares and patronage refund for a period not

exceeding five (5) years and with a rate of interest consistent with the

rate prescribed by the Cooperative Development Authority.

7. Special depositors - they are family Members, Organization and Non-

Members who can open up savings account but cannot borrow.

Special members (below 18 years) - this is the children of the

members who encourage to open up savings account with the

cooperative. They are not allowed to borrow because they are

not in the legal age and not able to enter contracts. and also,

parents of the depositor on the savings account are not allowed

to withdraw the children savings without the latter consent.

Non-Members - the cooperative give privileged for those

people who support cooperative by saving up their money in

the cooperative. But this non-member dont have the privilege

to avail borrowings, unless they will want to be a member.

Projected Income Statement
F. Organization and management of the cooperative
Organizational Structure

General
Assembly

Credit Audit Board of Election

Committee Committee Directors Committee

Mediation
Education Ethics
Functions and Secretary Treasurer
Committee Committee
Conciliation

General Assembly
The General Assembly is composed of members in good standing and are eligible to
General
Manager
participate in the electoral process. The General Assembly is the highest policy-making

body of the Cooperative. It has the power to elect and to remove for just cause the
Administratio
Operation
n
directors, officers and committee members; to hear and pass upon reports of the Board of

Directors, officers and committees; to make final decisions regarding any drastic change

in the financial policies subject to legal restrictions; to determine the amendments in the

Articles of Cooperation and By-Laws of the Cooperative; to exercise final authority on

all matters vitally and directly affecting the Cooperative; to approve the development

plans of the Cooperative, and to exercise all powers expressly provided by law and the

By-Laws of the Cooperative.

Board of Directors

The Board of Directors, as a body and not acting in their individual capacity, exercises

general supervision and control over the affairs of the Cooperative and its prescribed

policies consistent with the law, the By-Laws, resolutions of the General Assembly for
the management of its business and the guidance of its members, officers and employees.

The Board of Directors shall also be responsible for the strategic planning, direction-

setting and policy formulation activities of the Cooperative.

Education and Training Committee

The Education and Training Committee is responsible in planning and implementing the

promotional activities of the Cooperative, as well as the education and training of

employees, officers, members, and prospective members of the Cooperative. The Vice-

Chairman of the Board of Directors shall also serve as Chairman of the Education and

Training Committee.
Audit and Supervisory Committee
The Audit & Supervisory Committee, elected by the General Assembly, shall provide

internal audit services, maintain a complete record of its examination and inventory, and

submit quarterly reports to the Board and an audited annual financial report to the

General Assembly. The Committee is also responsible for the internal control and the

installation of an adequate and effective accounting systems and procedures.

Credit Committe
The members of the Credit Committee are appointed by the Board in compliance with

R.A. 9520 , Article. 43, Chapter IV of the Philippine Cooperative Code of 2008. The

Credit Committee is responsible for the credit management of the Cooperative. The

Committee shall process, investigate, evaluate and act upon loan applications and

withdrawal of share capital, except when the applicant is a member of the Committee, in

which case, the Board will act upon his/her loan applications and withdrawal of share

capital. The Committee shall exercise general supervision of credit including collection

of loans.
Election Committee

The Election Committee, elected by the General Assembly, shall promulgate rules and

regulations in the conduct of election, validate the qualification of candidates, supervise

the conduct of election and the canvassing of votes, certify in writing the election returns,

submit the same to the presiding officer, and proclaim the winning candidates. The

Committee shall also act on cases arising from election protest, proceedings and any

violation thereof.

Mediation and Conciliation

The Mediation and Conciliation Committee, an independent body, shall be appointed by

the Board in compliance with R.A. 9520 , Article. 43, Chapter IV of the Philippine

Cooperative Code of 2008 to conduct hearings on complaints and grievances filed against

any member, officer, committee member or management staff of the Cooperative. In the

conduct of its operation , the Committee shall observe due process as provided for by law

and is mandated to submit findings and/or recommendations on cases handled within the

prescribed period.

Management Staff

The Management Staff performs all the phases of operations of the Cooperative, both

administrative and finance, in accordance with the law and the By-Laws, and the rules

and regulations, policies and procedures, systems and control as established by the Board.

General Manager
The general manager oversees the over-all day-to-day business operations of the

cooperative by providing general direction, supervision, management and administrative

control over all the operating departments subject to such limitations as may be set forth

by the BOD or GA.

Treasurer

The treasurer shall ensure that all cash collections are deposited in accordance with the

policies set by the BOD; have custody of all funds, securities, documentations relating to

all assets, liabilities, income and expenditures; monitor and review the financial

management operations of the cooperative, subject to such limitations and control as may

be prescribed by BOD; maintain full and complete records of cash transactions; maintain

a petty cash fund and daily cash position report and perform such other functions as may

be prescribed in this by-laws.

Secretary
The Secretary shall keep an updated and complete registry of all members record, prepare

and maintain records of all minutes of the BOD and GA; ensure that necessary BODs

actions and decisions are transmitted to the management for compliance and

implementation; issue and clarify the list of members who are in good standing and

entitled to vote as determined by the BOD ; prepare and issue share certificates, keep

copy of the treasurers report and other reports, keep and maintain the share & transfer

book; serve as custodian of the cooperative seal; and perform such other functions as may

be prescribed in the by-laws or authorized by the GA.

F2 The General Manager will be on the top of the day-to-day management operations of

the Cooperative together with Treasurer and Secretary. Any member of the Board of
Directors shall not hold any other position directly involved in the day to day operation of

the cooperative.

F3 Employee benefits are various non-wage compensations provided to employee in

addition to their wages or salaries. The benefits provided by the cooperative are health,

dental, life insurance, disability income protection, sick leave, vacation (paid and non-

paid), social security, profit sharing, and other specialized benefits. Employee benefits

can improve the relationship between employee and employer and lowers staff turnover.

F4 All members of the cooperative will serve as its employees. Each position will be

elected during the General Assembly which all of the members are given the right to vote.
 PROJECT SUMMARY

Name of the Enterprise

Ateneo Credit Cooperative (ACCO) is the proposed name of the project.

Location

The location of the cooperative will be located at Tangub City, Misamis Occidental specifically
in Ramylu Drive Magsaysay Building in Barangay Guinabot. This was the chosen location
because it has two storeys building, spacious and convenient for everyday transactions. The first
storey was used as the office and the second storey is used as function room for the cooperatives
meeting and conferences.

Project's Long-Range Objectives

1. To maintain ACCO structure and able to prosper in the marketplace.

2. To encourage and increase the savings of the members.
3. To strengthen the agricultural loans as ACCO intends to enable members who are
interested in agricultural activities to purchase agricultural inputs and be able to repay the
loans as per agreement.
4. To attract and encourage new and active memberships by 10 percent per year.
5. To maximize loaning while reduce bad loans to 4 percent.
6. To advocate for good governance practices and abiding by the cooperatives principles for
ACCOs growth.
7. To increase revenue for a minimum of 15 percent per year.
8. To provide maximum economic benefits to the members.
9. To support the members financial needs.

RESEARCH METHODOLOGY

Data Gathering

The proponents have used the Descriptive Research Method wherein the study is focused on
present situations. It involves the recording, description, analysis and the presentation of the
present system, composition or processes of phenomena.

Under the Descriptive Research Method, the technique used is the Survey Method, which is
otherwise known as normative survey. The results and findings of the study should always be
compared with the standards. With the survey method, researchers are able
to statisticallystudy the specific areas where the proponents must concentrate. Findings regarding
the common practices being done and the methods which are commonly adopted by the
employees are obtained with the use of the survey method.

Highlights of the Project

After a series of thoughts and suggestions, the proponents came up with the idea to create the
Ateneo Credit Cooperative from which the exclusive members are the farmers, the farm owners,
and the residents of Barangay Guinabot, Tangub City. The proposed cooperative aims to help
assist the farmers, the farm owners and the residents on their financial and economic needs.

SUMMARY, FINDINGS, AND CONCLUSION

Market Feasibility

Based on the market study of cooperative, the target market which is the farmers, farm owners,
and residents of Brgy. Guinabot is the main factor to be considered in market feasibility. Based
on the conducted research of the proponents, there is a high demand of farmers that are willing to
join the cooperative, which meant that is good to build a credit cooperative. The survey results
(hypothesis) showed that 80% respondents are willing to join. The computed percentage of the
target market was just enough for the cooperative to legalize the organization in the Cooperative
Development Authority. Aside from the factors mentioned above, the proponents also discovered
that they could offer different types of loans to satisfy the financial and economic needs of their
members compared to the other financial institutions.

Technical Feasibility

The technical aspect is mainly about how the cooperative would be operated, where the
cooperative be operated, and what are the requirements before starting a cooperative. The
advocates mentioned the process and procedures clearly of the registration of the cooperative, the
application and termination of membership, a process of involuntary termination, the procedure
of voting, the application for loan, the loan policy, and the division of net surplus. Under this
aspect, the advocates also considered the supplies, equipment, and furniture and fixtures along
with their suppliers, frequency of orders, and prices. The advocates identified as well the location
of the office and the design of the layout to suit the day-to-day transactions of the cooperative.
Moreover, it is technically feasible based from mechanism and policies that have been perceived
by the advocates.

Financial Feasibility

Management Feasibility

The type of proposed business organization is Cooperative. The cooperative will be managed by
the officers elected by the General Assembly such as Credit Committee, Supervisory or Audit
Committee, Election Committee, Education and Training Committee, Mediation and
Conciliation Committee, Ethics Committee, and members from the Board of Directors, Chief
Executive Officer, Secretary and Treasurer. The functions and responsibilities of directors,
officers and committee members, as well as their training requirements, shall be in accordance
with the rules and regulations issued by the Authority according to the Philippine Cooperative
Code of 2008 (Republic Act No. 9520). Committee shall also refer to any organization entrusted
with specific functions and responsibilities under the bylaws or resolution of the general
assembly or the board of directors. The general conduct of the affairs of the cooperative,
including the powers and duties of the general assembly, the board of directors, committees and
the officers, their qualifications and disqualification, and job specifications are also needed when
electing or appointing officers.

Project Time Table

PROJECT TIME TABLE

Establishing of Lending Business
2
2014 0
1
5
JUNE
JULY

SEPT
MAR

MAY

NOV
AUG

OCT

DEC
APR
JAN
FEB

JAN

ACTIVITIES

Formulating the proposed study.

Presentation of the project study to the
interested investors.
Discussion of capitalization.
Legalization of the business.
Communicating with the Offices for possible
linkages.
Coordinating with the lessor.
Hiring and training of employees.
Acquisition of office equipment, supplies,
furniture and fixture.
Presentation of the project to the clients.
Start of business operation.

The table above shows the establishing of the structure for the lending business, guiding in
entering every phase of the operation. In creating this timetable, it helps the management to
determine if the project is on track to meet the designated delivery date. Understanding the
components that go into the timetable allows the business to develop the project accurately for
fewer adjustments once the project begins.