Organizing a cooperative can be complex and simple. It
requires an understanding of the basic needs of the
prospective cooperative members. It demands patience from
the organizer who must make the cooperative’s
long-term goals and objectives, and its visions a real part
of the members’ lives.
But it can be too easy because the Cooperative Code of
the Philippines (RA 6938) has devised very clear-cut steps
for the cooperative organizer and members. The following
are the basic information that the prospective members
should understand before organizing a cooperative.
| FIRST.Get organized.You must have at least 15 members to do that. |
At once determine the common problems you would want
solved and the basic needs you would want provided for
through a cooperative. You may want to include increasing
your production, marketing your produce, credit
assistance, power generation, banking or insurance and
other similar needs. Determining your problems and needs
will also help you classify the kind of cooperative you
will be organizing. Even before a cooperative is set up,
a dedicated core group people who will do all the
organizational and paper works is a must. From this core
group, working communities may be formed to set things
moving. These committees may include membership, finance,
executive, secretariat to name a few. |
| SECOND. Prepare a general statement called an economic
survey |
| This statement will help you measure your
cooperative’s chances of success. |
| THIRD. Draft the cooperative’s by-laws. |
| The by-laws contain the rules and regulations
governing the operation of the cooperative. |
| FOURTH. Draft the articles of cooperation. |
Mandatory contents of the articles of cooperation are
the following: (a) the name of the cooperative,
which must include the word “cooperative”; (b) the purpose or purposes and scope of business
of the cooperative; (c) the term of existence of
cooperative;(d) the area of operation and the
postal addresses of the registrant-cooperators; (e) the common bond of membership; (f) the
names of the directors who shall manage the cooperative; (g) the amount of share capital; (h) the
names and residences of its contributors, and (i)the type of cooperative, whether it is primary, secondary
or tertiary. |
| FIFTH. Secure bond foraccountable officer(s). |
The accountable officers normally are the Treasurer
and the Manager. The amount of the bond is to be decided
upon by the Board of Directors, based on the initial net
worth of the cooperative which includes the paid-up
capital, membership fees and other assets of the
cooperative at the time of registration. |
| SIXTH. Register your cooperative with the Cooperative Development Authority (CDA). |
| Submit the following required documents: |
- Four (4) copies each of the Economic Survey, Articles of Cooperation and By-Laws duly notarized;
- Bonds of accountable officer(s) (any directors, officers and employees) handling funds, securities, of properties in behalf of the cooperative;
-
Sworn statement of the treasurer duly notarized showing that at least 25% of the authorized share capital has been subscribed, and at least 25% of the total subscription has been paid. The paid-up capital must not be less than Php 2,000.00.
It must be noted that no member may own more than
20% of the subscribed share capital and each share must
not be less than Php 1.00
|
