There are a lot of successful cooperatives here in the Philippines. Everyone is aware with the benefits they could offer and help they could provide. In addition to this, cooperatives are everywhere. Each year, the number of them are continuously increasing, not because of the benefits it could get from the people but rather visualizing a better community as every cooperative’s main objective. Cooperatives are known to be organizations built or led by group of people with the same mission and objective, which is to make a better flow of management in the community’s financial status.
This article will tackle the successful cooperatives in the Philippines. Their origins and the people behind the success of the cooperatives will be tackled too. The way they manage the organization and how they wanted to make a change in the community will be stated too. As some people know, cooperative is an organization that focuses on providing their members’ changing needs that depends on the business activities they have been coordinating with. It is controlled by group of people and is looking forward on meeting their specific objectives. Cooperatives are known to be the organization which lifts up the less powerful members of the community such as farmers, producers, workers, and even consumers that cannot stand alone. The important objective of every cooperative is to help improve the quality of life of its members. Provide goods and services to its members to enable them to attain increased income, savings, investments, productivity, and purchasing power, and promotion among themselves. These organizations are collecting these people so they could work together and use that to make a change in their respective communities. The people who cannot grow their business individually can seek help on these organizations. The farmers who do not get the price they deserve for their crops and their efforts they have put in it can achieve that price through the organization that binds farmers in helping each other.
In addition to this, cooperatives can be in different fields too. There are some that are focused in Agriculture, Electricity, Credits Union, Crafts and Arts, and many more. There are a lot of fields in cooperatives. And here in the Philippines, they exist too. Some are just starting developing their organization, but most are successful. Cooperatives here in the country are sometimes focused on Agriculture specially in those area where they produce crops. In an annual report in 2018, there are 300 cooperatives in the country and this only means that it will still grow in number as the years pass by. The Cooperative Development Authority (CDA) is the lead government agency mandated by virtue of Republic Act No. 9520 (Philippine Cooperative Code of 2008) to promote the viability and growth of Philippine cooperatives. It is the only government agency that registers cooperatives. This only justifies that cooperatives in the country are legally been approved.
Cooperatives can be a failure and a success too. It depends on their operation and their strategy on managing their organization. But, there are cooperatives who have been started centuries or decades ago that are now in their success. Not just only successful cooperatives, but are the cooperative billionaires. In the Philippines, there are numbers of cooperative billionaires and millionaires, but it will not be discussed one by one on this paper. This article will only tackle the top 5 cooperative billionaires in the country which are: PANGASINAN III ELECTRIC COOPERATIVE, INC., Cebu CFI Community Cooperatives, General Assembly of the PLDT Employees’ Credit Cooperative, Inc., Philippine Army Finance Center Producers Integrated Cooperative, First Community Cooperative. These cooperatives have been founded decades ago, and been operating since then until they became the top cooperative billionaires in the country.
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Bare with my article. This is my requirement at school, and I just shared it here. Thank you for reading, by the way!
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