UPV Employees Cooperative conducts 23rd general assembly
The UP Visayas community gathered at the UPV auditorium of the City campus on February 11, 2017 for the 23rd UPV Employees Cooperative Annual General Assembly (GA).
The two-part GA started with the talk of Atty. Arturo Cangrejo, Chief Cooperative Development Specialist, Provincial Cooperative Development Office, and Province of Iloilo. Cangrejo emphasized that is more profitable to invest in cooperatives than in keeping money in the bank for the following reasons: members get more patronage refund and dividends from cooperatives than in a bank and even from GSIS, the coop can be the member’s savings and retirement program plan, and the member’s money in the cooperative is invested in a profitable business and for which he/she, as coop a member, has a say on how the business should be run.
With a noted plateauing in the income of UPVEC, Atty. Cangrejo also encouraged it to expand its business and diversify into safe investments such as real estates and franchises.
“We need to continue promoting the culture of saving and investment through cooperatives and secure the future of members by investing their money well,” he pointed out.
The new platinum members (those whose investment has reached P 100,000.00) and the continuing platinum members were recognized.
Part two of the GA proceeded with among others, the Approval of the Minutes of the 22nd General Assembly, the Chairperson’s Financial Report, Confirmation of Resolutions/Issuances/Policies and the Approval of the Amendments and By-Laws.
In addition, the proposed budget for 2017 was also presented and approved, as well as the appointment of Ma. Eliza Yap-Isagan as External Auditor for 2017.
The GA concluded with the presentation of newly elected UPVEC officers and the raffle of major prizes.