BUGASONG MPC PROGRAMS AND SERVICES

A. DEPOSITS

         1. Fixed Deposits / Capital Share – A fixed investment in the coop with a minimum requirement of 10 shares or an equivalent of Php500.00 upon membership. It earns dividend every year.
          2. Member Support Fund / Savings Deposits – Refers to deposits which can be withdrawn any time but with a minimum daily balance of Php250.00. Earns an interest of 3% per annum posted quarterly when deposits reached to Php1000.00 or more.

          3. Members Investment Fund / Time Deposits – Refers to deposits that are withdrawable upon maturity of not less than one month. The following are the rate of deposits:

                           Amount                                                               Interest Rate
                Php 2, 500.00 – 199,999.99                                                    5%
                    200,000.00 – 499,999.99                                                     6%
                    500,000.00 – 999,999.99                                                     7%
                        1 million and up                                                             9%

 B. LENDING / LOANS

Gets the biggest pie of the financial revenue of Bugasong MPC. Diversified loans are granted to qualified borrower to meet their social, economic and investment needs. Capacity-based principle is strictly observed in granting loans. The 5Cs of the applicants:

1. Character
2. Capacity to Pay
3. Capital (CS/FD)
4. Collateral / Security
5. Condition (loan period/mode of payment/interest rate/security-insurance/collateral)

      TYPE OF LOANS

1. REGULAR LOAN

               a. Productive and Providential Loan – Designed to meet member’s need for goods and services which must be amortized monthly.
               b. Instant Loan – Secured by 100% of share capital at 1% monthly rate and released by express lane.
               c. Micro-Enterprise Loan – Granted to regular members with no loan balance except special loan. Applicants must show proof that they are personally engaged in micro-enterprise like sari-sari store, bakeshop, tailoring, buy & sell, etc. Loan term must not exceed 24 months and maybe paid weekly semi-monthly, or monthly. Service fee is 1.5% with monthly rate of 2%.
                d. Business Loan – Granted to regular members who are engage in business to generate additional earnings. Loan amortizations be paid out on business profit.
      2. SPECIAL LOAN – Extended to regular members in Good Standing for emergency purposes. Loan ceiling is up to 100% of capital share after one (1) year of being a regular member and a loan term of not more than four (4) months.
      3. AGRICULTURAL LOAN – Granted to qualified member intended to finance agricultural related production projects with a production cycle not to exceed one (1) year to be paid in lump sum or amortized monthly.
      4. SALARY LOAN – Extended to permanent salaried employee whose employer signed a MOA with the COOP for automatic salary deduction particularly a solidarity group of at least 5 members. Individual applicants are granted with ATM security for automatic deduction by the COOP. Interest rate is 1% monthly straight.
      5. HONORARIUM LOAN – Extended to members who are barangay official regularly receiving monthly honoraria and certified by Barangay Captain and LGOO of the Municipality. Loan amount is determined by the CRECOM/LOAN Officer.
      6. BONUS LOAN – Granted to regular government and private employees. Loan note must be signed by the Head of Office / Disbursing Officer with SPA to hold check / cash from the Disbursing Officer. Loan must be covered by insurance for security.
      7. JEWELRY/CELLPHONE LOAN – Special loan window for short-term (1 year) loan using jewelry, cellphone, and other belongings as collateral.

C. INCENTIVES

 
EDUCATIONAL INCENTIVES
This program is designed to extend financial assistance to legitimate son and daughters of MIGS parents with membership tenure of not less than one (1) year. It is intended to inspire student – recipients to strive for academic excellence and promote a drug – free, and alcohol-free community.

• The program is open to 1^st yr. to 5^th yr. students of NBNHS, NBNHS Annex, SBNHS, AVS, and SJA. Recipients must have a grade rating not below 80% in any subject from 1^st to 4^th grading and without failing grades in any subject.
• Student-grantees must provide a certification issued by the school principal showing that he/she is of good moral character, non-drug user, non-smoker, and non-alcohol user.
• At the end of the 4^th grading period the top three (3) grantees of AVS and the top two (2) for the rest of the schools will be awarded during the closing program of their schools to be given by the Coop Manager and/or representative of the Board.

SCHOLARSHIP GRANT (CSEFA)
College Students Educational Financial Assistance (CSEFA) is designed to enable students of MIGS members to attain a college degree whose parents are financially incapable. The degree program is a Coop Investment on the Intellectual Development of the less privileged students on their desire to attain the quality of life that education can provide relevant to the primary goals of the Coop.

• CSEFA is open to High School graduates who fall on the Top 10 of the Graduating Class and who have no grades below 80% in any subject during the time of graduation within the Municipality of Bugasong.
• Applicants are required to submit Form 137, Police Clearance, Tax Declaration of Real Property, Certificate as to Non-filing of Income Tax Return, and Certification by the School Principal that the applicant fall on the top 10 of the graduating class.
• A financial package of P15, 000.00 per semester or P30, 000.00 per year will be provided to each student at the end of the semester.
• At the end of every semester each student – recipient must pass a Report on Ratings duly signed by the School Registrar as one of the basis for the release and the continuation or termination of the financial assistance. Students with a grade below 80% at the end of every semester will be placed on a probationary status until their grades have improved.
• Coop Scholars will be hired on student labor every summer or Christmas vacation on honorarium basis. After finishing a degree, graduates will be given first priority for hiring by the Coop.

D. OTHER SERVICES

1. DAMAYAN – Mutual death aid in the amount of Php20, 000.00 extended to the beneficiaries of the deceased DAMAYAN members.
2. CISP-BPP – Yearly renewable life insurance extended to coop members who are 18-65 years old with a premium of Php55.35 and a benefit of Php5, 000.00 for every death.
3. CLIMBS – Life and non-life insurance for interested members renewable every year.
4. CABLE TV / INTERNET – Can be availed upon payment of installation fee and security deposit as well as membership fee for those who are not members of the regular window.
5. FONUS – An inexpensive yet quality service extended to the bereaved family of every member or non-members who would like to avail such service. Its uniqueness to other funeral parlour is that, it does serve its clientele with a heart.
6. POS MACHINE (ATM WITHDRAWALS) – Extended by the coop to serve its members who have atm. Amount charged for every withdrawal or swipe is Php20.00 with a maximum amount of Php20,000.00
7. SEAOIL – Seaoil Services at a discounted price plus dividend and patronage refund for members.
8. COOPNET – Provides other payment services like money transfer (Coopadala) through GCash Remit, COOPLOAD (Loading Station), PAL Ticket Booking/Reservations, and Processing of Government Certificates like NSO Birth Certificate, Marriage Contract, and etc.

E. MEMBERSHIP

MEBERSHIP REQUIREMENTS

1. REGULAR MEMBER

• Filipino Citizen, 18 years and above, with the capacity to contract
• Attended PMES (regular schedule is every 1^st and 3^rd Sunday of the Month – Main Office at 1:00 p.m. San Jose and Tigbuaun Satellite Office every 4^th Saturday of the Month at 9:00 .am.)
• Fees:     Php100.00           - Membership Fee

                       Php500.00           - Minimum Capital Share
                       Php250.00           - Minimum Initial Savings Deposits
                       Php200.00           - Damayan
                       Php 20.00            - Documentation Fee
                  ______________________________________
                       Php1, 070.00       - TOTAL

• Duly accomplished membership application form

1. ASSOCIATE MEMBER

• Open to associations, institutions, minors with parental or guardian consent
• Accomplished application to open SAVINGS or TIME DEPOSIT account
• Membership Fee of Php100.00
• For Cable TV Subscribers:

            - Accomplished application for membership and pay Php50.00 membership fee.

MIGS (Member in Good Standing) REQUIREMENTS:

• Regular member for at least 1 year
• Posted Capital Share of at least Php20.00/month or lump sum of Php240.00/year
• Maintained savings deposits of at least Php1,000.00
• Attended General Assembly or Ownership meeting
• Has not incurred a default of 3 consecutive amortization
• Patronize the business/services of the coop
• Complied with the duties/obligation of membership
• Updated Damayan

MEMBERSHIP CATEGORIES:

1. DIAMOND

• Minimum of 5 years as regular member
• Minimum of Php150,000.00 total investment (Php75,000.00 capital share and Php10,000.00 savings deposits)
• No default on loans for the last 5 years
• At least Php100.00 monthly deposits on capital share
• Qualified to loan up to Php200,000.00 without co-maker/collateral if covered by insurance or 100% of total investment
• Approval and release of loan at management level
• Free Damayan

1. GOLD

• Minimum of 4 years as regular member
• Minimum of Php100,000.00 total investment (Php50,000.00 capital share and Php5,000.00 savings deposits)
• No default on loans for the last 4 years
• Php50.00 monthly deposit on capital share
• Damayan member
• Patronize coop business for the last 4 years
• Qualified to loan up to Php200,000.00 without co-maker/collateral if covered by insurance
• Approval and release of loan at management level

1. SILVER

• Minimum of 3 years as regular member
• Minimum of Php50,000.00 total coop investment (Php25,000.00 capital share and Php3,000.00 saving deposits)
• Deposit regularly on capital share of at least Php30.00 monthly
• Not defaulted for the preceding year
• With co-maker 50% of the loan over capital share
• Release loan via express lane at management level
• Damayan member

GOING FOR THE GOLD...

Bugasong Multi Purpose Cooperative will celebrate its GOLDEN YEAR ANNIVERSARY this December 12, 2014.

The 50 years of existence has shaped the Cooperative into a more productive source of loans to its members.

The Cooperative has prepared something for its members. Be wowed, be surprised and be amazed!


CONGRATULATIONS!


"I CELEBRAR NATON ANG KADARAG-AN KANG BUGASONG MPC!..."


 CONTACTS:

MAIN OFFICE

BUGASONG MULTI PURPOSE COOPERATIVE
J. Moscoso St, Ilaya, Bugasong, Antique
Email: bugasongmpc@yahoo.com
CP #: 09081219892


SATELLITE OFFICES:

BMPC San Jose
RMU Bldg T.A Fornier St., Bantayan, San Jose, Antique
Email: bugasongmpc@yahoo.com
CP #: 9177217300

BMPC Tigbauan
Taldelore St., Brgy. 1, Tigbauan, Iloilo
Email: bugasongmpc@yahoo.com
CP#: 09175400052

BOARD OF DIRECTORS MEETING, JANUARY 26, 2014

The Board of Directors of Bugasong Multi Purpose Cooperative headed by Chairman Neil Bangcaya gathered together for the 1st Board of Director's Meeting for the Year 2014.

They discussed matters that would help improve the dealings of Bugasong MPC for the year 2014 and onwards. Financial Reporting. Policy Review. Investment Line and Budget Approval.

With great vision to achieve the targets for 2014 and the years to come.

GO FOR THE GOLD BUGASONG MPC!!!

GOD BLESS AND MORE POWER!

BUGASONG MPC - OWNERSHIP MEETING

Bugasong Multi Purpose Cooperative Ownership Meeting 2013 last December 14, 2013.

 
Bugasong Multi Purpose Cooperative, Going Stronger for 50 years of Service.

The dedication to provide great help and the best service to each and every member drives the Cooperative to withstand all the challenges and obstacles on its way. With Programs and Projects  that deliver great benefit, progress and improvement in the lives of every member.

It was indeed a milestone of undying and exceptional service to the members of Bugasong MPC.

Fifty Years of existence truly marks the strong foundation of Bugasong Multi Purpose Cooperative.

Keep up the great job Bugasong MPC.

GO FOR THE GOLD BUGASONG MULTI PURPOSE COOPERATIVE!!!

CONGRATULATIONS!

GOD BLESS AND MORE POWER!

BUGASONG MULTI PURPOSE COOPERATIVE

 www.bugasongmpc.n.nu

VISION
Cooperative Excellence, Responsible Members

MISSION
To provide quality, relevant, innovative services with integrity and to inculcate cooperative values, accountability, and social responsibility among members.





GOALS

1. To provide productive and providential loans.
2. To achieve a remarkable growth rate in all aspects of operation.
3. To provide and enhance human resource development.
4. To achieve and comply with international and government standard on FI.

Bugasong Multi-Purpose Cooperative is a non-profit organization anchored on coop values of: SELP-HELP, SELF-RESPONSIBILITY, DEMOCRACY, EQUITY and SOLIDARITY, belief on ethical values of HONESTY, OPENNESS, SOCIAL RESPONSIBILITY and CARING for OTHERS.
Its operating principles are grounded on:

• Open and voluntary membership without racial, religious or political discrimination
• Democratic member control, one-man-one-vote
• Member economic participation – members contribute equitably to coop capital, received dividend and patronage refund
• Autonomous and independent self-help organization controlled by members
• Education, trainings, and information – members, officers, management staff are trained for effectiveness and efficiency and the public are informed about the nature and benefit of cooperation
• Cooperation among coops – linkage with provincial, regional, national and international structures
• Concern for community development

HISTORY:

The Advent of Cooperativism in the Province of Antique in the 1960’s was the result of the recommendation by the Clergy who took it among themselves to find ways and means to alleviate the socio-economic conditions of their parishioners. The Mill Hill Missionaries headed by then Bishop Cornelio de Witt led the movement in Antique. For Bugasong, local parish priest John Sweere and then Mayor Cornelio Odi invited a group of professionals and concerned citizens to organize the Bugasong Credit Union in response to the need for a vehicle for savings generation and access to inexpensive credit facilities. On December 12, 1964, Twenty-five (25) member-incorporators raised Php255.00 as initial capitalization and formally started operations.
On May 20, 1965 Bugasong Credit Union, Inc. officially registered with the Cooperative Administration Office, Department of Commerce and Industry and later registered under PD 175 during Martial Law – re-registered with the Bureau of Cooperative Development, DLGCD on October 15, 1973 – operated as full pledged Cooperative on October 31, 1976 – such registration confirmed by CDA on April 10, 1991 and registered as Bugasong Multi-Purpose Cooperative on September 3, 1992.
On April 2, 2001 Bugasong MPC expanded its area of operation covering the whole province of Antique and later in the entire Western Visayas with satellite offices in San Jose, Antique and Tigbauan, Iloilo.
As a Multi-Purpose Cooperative, it is currently serving its membership not only their diversified credit needs but also Cable TV / Internet under partnership with Barbaza Multi-Purpose Cooperative, Money Transfer, ATM Withdrawals, Seaoil Gas Station and CoopNet.
Bugasong Multi-Purpose Cooperative is affiliated with COOP NATCCO Network Party, PCF, CLIMBS, CISP, AFCCUI and VICTO-National for Trainings and Financial Assistance. As of December 31, 2012 membership soared to 7,870 with paid up share of Php69,560,610.00 and total asset of Php201,941,378.14. Over all administration and supervision is controlled by the 11 members of the Board of Directors back-up by different standing committees and the day-to-day management manned by 29 full time staff.