(Second of two parts)
TAGUM CITY—Tagum Cooperative extends capital loans even without collateral through the “We EntrePinoy” program. Ritchelle Sapal said she was able to borrow P20,000 for her “balut” (boiled duck egg) business.
Tagum Cooperative (TC) also provides health services to members through the “Himsug Pamilya” project. It has two funeral parlors as part of its death-care program.
“We serve the members from womb to tomb,” said Norma Pereyras, president of the cooperative’s board of directors, the cooperative’s policy-maker.
READ: First part: Tagum co-op a P3.2-B success story
Other ancillary services include a budget hotel and commercial center, and a 400-person capacity, air-conditioned mini-gymnasium inside the three-story TC Main Office on Dalisay-Gante Road in Tagum.
Safeguarding the members’ money was a prime concern to the Tagum Cooperative so stringent safety measures were put in place, like the creation of an audit committee and the hiring of an external auditor from a reputable audit firm, Pereyras said.
“We also see to it that debts by key officers are minimal, and that they pay on time. Delinquent officers are suspended until they have settled their liabilities to the cooperative, or at least kept their loans current,” Pereyras said.
Multi-awarded
Because of its efforts to help uplift the lives of over a hundred thousand people in Davao and Caraga regions, and for being a role model in sound financial management, Tagum Cooperative has received awards and accolades from both the government and the private sector, locally and abroad.
In 2000, it was branded a Financial Organization achieving Certified Credit Union Standards by the United States-based World Council of Credit Unions, and attained the international A-One Competitive Choice for Excellence in Service and Soundness Brand-Silver, the Michelin for cooperatives.
Early in September, Galing Pook Foundation, a nongovernment organization (NGO) that gives awards to exemplary local government practices, conferred on Tagum Cooperative the first Galing Pook Citizenship Award, along with Balay Mindanaw Foundation Inc., an NGO based in Cagayan de Oro City and known for pursuing equity-based development and sustainable peace in Mindanao.
“The awards denote the financial soundness and social accountability of Tagum Cooperative to members and the community as a result of hard work, teamwork, and glory and honor to the Lord,” said accountant Juris Perez, the general manager.
Pereyras said the awards were an assurance “that we’re on the right track.”
“These are for the members because they’re responsible borrowers. Tagum Cooperative, in turn, is a responsible lender. With humility, we share these awards to others. We want to inspire other cooperatives,” she said.
“The cooperative is an institution that can be trusted as part of nation building,” she said.
Tagum Cooperative envisions itself as “an icon of trust and excellence in financial and social services.”