Lingga Multi-Purpose Cooperative

LINGGA MULTI-PURPOSE COOPERATIVE1

David, Demie Jane

Dela Torre, Melendre Heidyl

Magbaleta, Ria Laura

Zipagan, Paulo Luis

COST 110 X

22 November 2016

1This paper is submitted to Prof. Liezel Cruz as partial fulfillment to the course COST 110 or Introduction to Cooperatives submitted this 22nd of November 2016.

I. RATIONALE

The intended audience of the cooperative are the fisherfolks and their stay-at-home family members in Lingga, Calamba who have the need to

II. GENERAL INFORMATION

1. Name: Lingga Multi-purpose Cooperative
2. Type of Cooperative: Mult-ipurpose (fishing and consumer)
3. Address of Cooperative: Barangay Lingga, Calamba City, Laguna
4. Number of Original Members:

                The cooperative has twenty-five (25) members during the first year of its

Operation.

1. Projected Increase in Membership:

During the cooperative’s first year of operation, it had 25 members. These members were divided into small groups in order to divide the labor between them in terms of management, production, marketing and finance coordinating. The next year, 3 members had been added to the roster. In 2014, the cooperative’s third year of operation, the number of members became 34. Six more members have been added to the cooperative’s roster come 2015, the coop’s fourth year. The number of members then spiked up to 50 during the cooperative’s fifth year. All the members are exerting maximum efforts to keep the cooperative going and to maintain even greater success in their business ventures.

1. Year of Establishment

The cooperative was established on November 21, 2012.

1. Initial Capitalization:
   The original members of the cooperative shelled in 500 PHP each which served as their membership fee. Since the cooperative had 25 charter members, the initial revolving capital of the cooperative amounted to 12,500 PHP. Dr. Ernesto Cabal also donated
   10,000 PHP to the cooperative, therefore bringing its initial revolving capital to 22,500 PHP.
   
2. Affiliation/Membership to Other Organizations:

The cooperative is currently not affiliated with any union or federation of cooperatives/

III. HISTORY

Marcus Santos III together with his colleagues in fishing Martin Dela Cruz and Benilde Arcillas first thought of buying equipment for fishing and processing of aquatic resources then renting it to the people in their barangay who are also in the industry of fishing. They started to rent these equipment on March of 2012.

        Before the year ended, the rentals of their equipment increased from around 40% to 73%- an increase that became a problem since people would struggle to be the first one to rent such equipment. Rentals also last for at most three weeks. Martin Dela Cruz then suggested to add more people to their group so that they can buy more equipment and rent it. This was done through asking for monetary contributions to the new members.

        As months pass by, more and more people joined the group. There were 25 locals in the group when they decided to establish a cooperative that will cater the needs not only of the fisherfolks but also of those people who are in the fishing industry.

The Lingga Multi-Purpose cooperative was formally established on November 21, 2012 with an initial seed money of 10 thousand pesos given by Dr. Ernesto Cabal. Dr. Cabal donated the money to help the fishermen in Lingga, Calamba. The following year, the cooperative was then registered under the Cooperative Development Authority. The Cooperative was then recognized as one of the leading cooperative in the region.