I was fascinated with rural development work during my internship. Their scope of work includes a four fold consisting of livelihood, education, self-governance, and health. They are one of the founding members who established the Cavite Farmers Feed milling and Marketing Cooperative (CAFFMACO). And later also helped in the creation of the Pagpapaunlad ng mga Mamamayan sa Nayon Development Cooperative Federation (PAMANA DCF). This year CAFFMACO celebrated its 43rd anniversary/foundation day, while the PAMANA DCF is already on their 30th year.
Inside the institution, there is also a cooperative which membership is exclusive for the employees. It is where I have first started to be involved in a cooperative as a secretary and then treasurer. And so, we, my husband and I, became members of the employees’ cooperative, CAFFMACO and PAMANA DCF, as well as another one named SIDC (Sorosoro Ibaba Development Cooperative) who is now on its 51st year. We have made our membership as an investment and at same time keeping in heart and mind one of the rural development four folds – livelihood; as one of the co-op members, we are helping each other improve our livelihood.
Joining the cooperative is one of the ways that helped us manage the finances of Mima’s Homey. We are both employed and aimed that some day, we will not work for money, instead, money will work for us. We have started from scratch and did our best to meet both ends. But in reality, it is true that we can not be prepared enough for what is ahead of us. There are unavoidable and unexpected expenses, we just have to go through it and overcome those difficulties.
Our co-op membership significantly contributed to Mima’s Homey financial ease, most especially with the educational expenses of our daughter. Co-ops value their members by giving appreciation, I was an awardee for ten consecutive years as one of the outstanding members.
Things to consider before joining Cooperatives
Investing your hard-earned money is a wise decision, but however or wherever you want to invest, there is always a risk. And one of the first and foremost to be considered is that, if they are offering a high interest rate earnings compared to the prevailing standard rates, you should think more about it before you invest.
With the three cooperatives we’ve joined, they all have similar interest rates, thrice higher compared to the banks and other commercial businesses. Moreover, you can surely be assured that your investment with the cooperative grows, and they are tax free. It earns annual dividends, the more you patronize your co-op, the more it will succeed.
In a cooperative, the members are also the owners who have a voice in the control of the co-op within the limits of majority rule, guided by their by-laws. Its existence is dependent on how the patron members operates and supplies the kind of service they want. Every member or owner have a financial interest in the success of their co-op which motivates them to give their full support and patronage. This is one way to support our community, support local, invest and at the same time extend a helping hand.
About the Author:
Renell A. Dela Cruz – Pacrin is a development worker (support staff) for seventeen years who loves to cook and bake. She earned a degree in Secretarial Administration and passed the NC II (National Certificate) in Bread and Pastry Production. During her free time, she bakes cookies, cakes, and pastries, mostly for her lovely daughter’s packed snacks, family occasions, and sometimes made to order. Currently self-employed, she focuses more on her spouse’ van rental business, home duties, exploring handicrafts, and taking care of the homey.
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