The MMPC savings passbook … getting fatter every week. – Photo courtesy of MMPC
THE management of the newly-formed Mambulao Multi-Purpose Cooperative (MMPC) in Mambulao, CamNorte, has appealed to Mambulaoans based in town and those overseas to help the co-op raise funds needed to register it with the Bureau of Cooperative Development.
Right: The official logo of the co-op.
So far, MMPC has a bank balance of P65,639.37 representing incorporators’ shares (as of Tuesday, August 27) -- still short of P34,361 to meet the minimum registration capitalization of P100,000.
Cash on hand was P1,911.00.
Elsie Dimaunahan, MMPC coordinator, told MWBuzz that of the 45 registered members (as of the other week), seven are foreign-based, who subscribed to about P35,738 worth of shares.
Registered local members numbering 38 have so far chipped in a total of P17,400, contributing P500 or more each.
Proposed promo co-op T-shirts
The newly-formed co-op has so far attracted 57 members, 40 of whom are now shareholders.
Proposed promo co-op shoping bags
Spearheaded by Middle East-based Jessie Obrero Lumapag, MMPC was formed recently to help overseas contract working Mambulaons to save for the future by investing with the co-op.
Lumapag said the business that MMPC would generate in the future are hoped to create jobs for the less-privileged members of the community.
Once registered, the co-op would decide on the line of business it could venture into, including dry goods trading and tourism-related projects.
The proponents of MMPC are members of a Facebook group called “Mambulao’s On A Roll”.