Provincial government honors top coops
The Iloilo Provincial Government honored the top coop members in recognition of the vital and significant role of cooperatives in nation-building.
Supervising Coop Development Specialist Mila Layog said there are 395 operating registered coops in the province, as of December 2009.
The top 10 coops based on net surplus are the West Visayas State University Multi-purpose cooperative, Iloilo Provincial Employees MPC, COA Employees MPC, Dingle Government Workers Credit Coop, UPV Employees Coop, Barotac Nuevo Development Coop, Innovative Traders MPC, Dingle MPC, Pototan Teachers and Employees MPC, and Pinili Development Cooperative.
The top 10 coops as to Paid-Up Share Capital are the WVSU MPC, UPV employees coop, Cooperative Bank of Iloilo, COA Employees MPC, Iloilo City Public School Teachers & Employees MPC, Iloilo Provincial Employees MPC, Barotac Nuevo Dev. Coop, Dingle Govt Workers Credit Coop, Western Visayas College of Science and Technology MPC and Pinili Development Coop.
As to assets, the 10 top coops are the Cooperative Bank of Iloilo, Iloilo City Public School Teachers and Employees MPC, Dingle Govt Workers Credit Coop, WVSU MPC,Iloilo provincial Employees MPC, UPV Employees Coup, Barotac Nuevo Development Coop, TEDCO, WVCST MPC, Leon Small Coconut Farmers MPC.
On the other hand, the top 10 coops as to membership include Immanuel Partners MPC-Janiuay, Urban People’s Devt Coop, Iloilo City Public School Teachers and Employees MPC, Leon Small Coconut Farmers MPC, Kooperatiba sang Alimodian, Tubungan Employees Devt. Coop, Pinili Development Coop, Carles MPC, WVSU MPC and Sta. Barbara (FACOMA) MPC.
Layog said there are several legislative milestones which have strengthened resolve of the cooperative movement in the country to boost the economy through empowerment of members.
These legislative measures are the signing of Republic Act 9520 or the Philippine Cooperative Code of 2008 in February 2009 which amended the Cooperative Code of the Philippines and the consequent approval of its Implementing Rules and Regulations (IRR).
Another important milestone in the cooperative movement was the recent Supreme Court Ruling dated January 26, 2010, which rules that interest earnings of the savings and time deposits of cooperative are exempt from the usual 20 percent withholding tax. (PIA6/ESS)
