The Tagum Cooperative has grown by leaps and bounds with a previous net surplus of P27.497 million, Latest figures however show that it now has a net surplus amounting to P86.66 million and total combined assets of P1.7 billion as of August 2012.
The Tagum Cooperative topped the list of cooperatives all over the country in
terms of net surplus.
Provincial planning and development office supervising cooperative
development specialist Humber Cabunoc said the Tagum coop is not only on the Top
20 cooperatives in Southern Mindanao but was chosen as the country’s most
outstanding large cooperative during the 11th Cooperative Summit held in Cagayan
de Oro City last week.
Cabunoc also said next in line are the Sta. Ana Multi-Purpose Cooperative
with a net surplus of P24.97 million and the Agdao Multi-Purpose Cooperative
with a net surplus of P22.34 million. Both are based in Davao City.
“The cooperative was previously chosen as the number 1 cooperative in
Southern Mindanao in terms of its net surplus,” he said.
“We are encouraging residents of Davao del Norte to become members of the
Tagum Cooperative considering that it has shown proof of good governance and an
established financial and recording system,” he said.
Cabunoc said with almost 80,000 members the Tagum Cooperative has no external
borrowings and relies on its own loan portfolio of P1.35 billion and deposits
amounting to P833 million.
The Tagum Cooperative, which was previously known as the Holy Name Society of
Tagum Parish, was founded in May, 1967 with an P80 capital and several members
Davao City is one of the most livable cities in Asia. This is the city of durian, the King of Fruits. This is where the Philippine Eagle soars. Get your daily dose of news, features, and issues that matter straight from Davao City.
Subscribe to:
Posts (Atom)
Araw ng Dabaw Tattoo Fest 2024 organizers eye tattoo industry as next tourist attraction
Tattoos have come a long way in the Philippines. From being frowned upon, tattoos are now considered art and a form of self-expression. Da...
-
Davao City's very own Sunstar Super Balita was given a few minutes nationwide exposure in ABS CBN's showbiz Sunday Show "The Bu...
-
The P1.5 million Solidarity Ring, the biggest gold ring in the Philippines, is now on display at the Museo Dabawenyo in time for the Kadaya...
-
PLDT phone booths that have been conveniently installed near the rest rooms of SM City Davao is making life easier for Dabawenyos especiall...