2008inREVIEW

25,833 members
P264.32M loans released
P51.90M savings generated
P173.75M total assets
P42.26M share capital
P9.58M net surplus
9 BRANCHES
1 SATELLITE OFFICE

Table of Contents
Messages......................................................... 4
2008 at a Glance............................................ 17 ADVANCING the MANDATE,
Meeting Standards, Achieving REACHING the WORLD
Safety and Soundness............................ 18
BOD & Committee Election ‘08...................... 18 In 2008, Paglaum increased its
CGAP Financial Ratios................................... 18 membership to 25,833 cooperators.
Credit Management Report............................ 19 These members are spread all over
Innovating to Address Rural Poverty.............. 20 Northwestern Mindanao. As Paglaum
Famous home-made Suman expands its area of coverage, more and
reaches the US, Japan............................ 23 more families become productive and
PAGLAUM Activites........................................ 24 self-reliant.
The Men & Women behind
PAGLAUM MPC...................................... 26 On the other hand, 2008 was an
PACAP appoints PCDFI as appointed time for reaching out to
FOCAS Secretariat................................. 28 the world. Paglaum established its
25 Years of Empowering website, enabling the cooperative to
Rural Communities.................................. 29 be introduced to the worldwide web.
Independent Auditors’ Report......................... 30 Paglaum discovered more opportunities
2008 Awards and Citations............................. 44
by working with global organizations
like Kiva and Oikocredit. Through these
Budget for 2009.............................................. 45
wonderful partnerships, Paglaum has
Trainings Attended by Board,
increased its assistance to the projects
Management, & Staff for 2008................ 46
of its enterprising members.
Laboratory Cooperative.................................. 47
Board of Directors & Officers.......................... 47
Advertisements............................................... 48
 MALACAÑAN PALACE COOPERATIVE DEVELOPMENT AUTHORITY
MANILA 5th Floor Ben-Lor Bldg., 1184 Quezon Avenue, Quezon City
I t is with great pleasure that
I extend my warm greetings
to the entire workforce and
members of PAGLAUM MULTI-
PURPOSE COOPERATIVE (PMPC)
W armest greetings to the officers and members of the
Paglaum Multi-Purpose Cooperative (PMPC) as you
hold your 17th Annual General Assembly.
Your cooperative has been awarded the Century Coop
as you conclude another year of
operation through the conduct
of your 17th Annual General
Assembly.
Truly, year 2008 was a
Circle Award by MASS-SPECC Cooperative Center during the challenging year for all of us with
the crises that hit the economy
39th Mindanao Coop Leaders’ Congress in Davao City.
on a global level, which we are
still facing at present. However,
Indeed, you deserve such recognition because you have cooperatives around the globe
consistently provided business opportunities and community have remained solid during
development projects for the people in your community. the said crisis. No less than
the International Cooperative
Alliance (ICA) issued a statement
I hope that during your 17th General Membership Meeting, which can become the driving
you will undertake more income generating projects for your force of cooperatives to continue
members and assist us in the delivery of basic services to the to have a positive outlook of the
future – “the role of cooperatives
people of Misamis Occidental and nearby areas.
in the process of economic
recovery should be given due
More power to all of you and Mabuhay! recognition by the policy makers
at a global and national level
and therefore urge upon the
governments to establish good
partnership with cooperatives to
protect economically vulnerable
population so as to minimize
GLORIA MACAPAGAL-ARROYO the impact of global economic
President, Republic of the Philippines meltdown at the ground level”.
I applaud the management,
staff and the general membership
of PMPC for its continuous
forward and upward movement
MANILA as an organization, as evidenced
April 2009 in the ever-growing membership
of more than 25,000 in its nine
(9) branches in Northwestern
Mindanao. It has also received
numerous citations from major
award giving bodies such as
the Land Bank of the Philippines
GAWAD PITAK 2007, with PMPC
 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM
being conferred as the Regional
Winner – Agri-Based Category.
Most recently, PMPC
awarded the Century Coop
Circle Award by MASS-SPECC
was
Cooperative
Center.
men
Development
These awards truly speak
of the hard work of every
and women behind
PMPC, constantly raising the
bar in providing excellent
cooperative service despite
such trying times, which is indeed
deserving of commendation.
The achievement of your
organization lie on the shoulders
of committed and hard-working
leaders and members, the pillars
on which the organization leans
on for support, and the dynamic
force that propels it forward.
As you chronicle another
year of PMPC history, I
earnestly hope that you will
continue to be an effective
instrument in promoting and
accelerating the development
of your cooperative and your
members through the Power of
Cooperation. Therefore, I call
upon you to continue to faithfully
and fully practice the principles
and values of cooperativism and
to reassert the unique identity
of cooperatives so that you will
achieve more success in the
years to come.
Our best wishes to Paglaum
Multi-Purpose Cooperative!
LECIRA V. JUAREZ
Chairperson

 ASSOCIATION O F A S I A N C O N F E D E R A T I O N O F C R E D I T U N I O N S
No. 24, Ramkhamhaeng 60, Bangkapi, Bangkok 10240, Thailand
P.O. Box 24-171, Bangkok 10240, Thailand LANDBANK Countryside
Tel: 66-2-374-5101; 374-3170; Fax: 66-2-374-5321 Development Foundation, Inc.
Email: accu@aaccu.coop ; Website: http://www.aaccu.coop

Greetings from ACCU! Line (APL) of US$ 1.35 a day

(a new benchmark set by C ongratulations to PAGLAUM MULTI-PURPOSE COOPERATIVE
on your 17th Annual General Assembly!

I ndeed, it is with great

pleasure to convey the
congratulatory message
of the Association of Asian
Confederation of Credit Unions
on the 17th Annual General
Assembly of Paglaum Multi
Purpose Cooperative (PMPC).
We are very pleased to be
part of PMPC development as
our Supporter member.
Over 65-70% of the
Philippine population is
situated in the rural areas
where poverty incidence is
higher and where the need
for access to necessities like
land, agricultural inputs, and
services including access to
credit and savings instruments
is much higher. At present,
Asia continues to experience
the highest concentration
of rural poor in the world. It
is estimated that about 800
million people live in absolute
poverty in Asia. According to
a report published by IFAD,
the total number of rural poor
in Asia is expected to swell
to 922 million by the year
2010. According to Asian
Development Bank (ADB),
about 25.4 million Filipinos are
living below the Asian Poverty
ADB to measure poverty on
the Asian continent). In the
advent of the Global Financial
Crisis, new poor entrants are
expected to rise.
With the above scenario,
undoubtedly, PMPC should
be commended for its
unwavering commitment
in eradicating poverty by
reaching out to poor and
disadvantaged communities.
We believe that PMPC will
continue with its mission in
reaching people who most
need the services of your
cooperative.
We salute the leaders and
management for winning
the painful exercise at the
grassroots level in building
self-reliant cooperative
financial institution that serves
the poor. The dedicated
leadership and professional
management of PMPC are
quite capable to manage
the challenges ahead of
Ranjith Hettiarachchi
Chief Executive Officer
you. PMPC is number one
cooperative in the Philippines
on poverty alleviation with
outreach of 25,833 members,
portfolio of 122 million pesos
and repayment rate of
92.12%.
We are very much
aware of the initiatives of the
leaders and management
in acquiring new knowledge
and skills to ensure the
quality of your servcies and
continually demonstrate your
differentiation with other
financial institutions.
We congratulate the
members, Board of Directors,
Officers, and Management
for your achievements and
encourage you to excel in
every endeavour that you will
take.
The LANDBANK Countryside Development Foundation, Inc.
highly treasures its partnership with PMPC. Your commendable
efforts to reaching out to 25,833 members in Misamis
Occidental and offer of various allied services to members is
worthy of emulation of all progressive, newly emerging multi-
purpose cooperatives.
We wish that you continue to uphold, expand and deepen
your commitment to provide responsive services especially to
the members of the marginalized sector – to assist them in
helping themselves get out of poverty and thereby help in
bringing about true and real countryside development.
Again, a toast to another successful year. Congratulations
and MORE POWER!
ILUMINADA L.E. CABIGAS
President, LCDFI
12th floor All Asia Capital Building
105 Paseo de Roxas, Legaspi Village
Makati City, Philippines
Tel. Nos. 817-08-05 * 810-79-20
Telefax: 892-52-86
E-mail Address: lcdfi@pworld.net.ph

 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 

Paglaum Multi-Purpose Cooperative:
Empowering Mindanao’s Rural Communities
A Message to the PMPC General Assembly
W ith financial upheavals
in the United States and
elsewhere in the world,
the Philippines is in for a rough
ride in the year 2009 and beyond.
The effects of global recession
are even now being felt in the
smallest, most rural of communities
in the country. It will be a titanic
task to help these communities
and their constituents become
more resilient, stable, and self-
sustainable to weather the
financial storm.
Such is the work of Paglaum
Multi-Purpose Cooperative.
Throughout its years of existence,
Paglaum MPC has consistently
strived to strengthen itself for the
sake of its membership and the
communities it serves. From its
humble beginnings, the coop
has successfully expanded with
its nine branches in Northwestern
Mindanao, reaching out to
the poorer communities of
Zamboanga del Sur, Zamboanga
del Norte, and Misamis
Occidental. Its membership base,
now 25,833 strong, is a force to
reckon with as far as the local
economies of these Mindanao
communities are concerned.
Innovation after innovation,
award after award, Paglaum
Multi-Purpose Cooperative
excelled. Consistent in setting
standards of performance for
itself and its members, the coop
is one outstanding cooperative
that continues to evolve into
 PAGLAUM
a bigger, stronger, and more
empowering institution in local
economy building. In cooperation
with other financial institutions,
the local government, the civil
society, the business sector,
Paglaum MPC brings together
the stakeholders whose collective
efforts are channeled to a holistic
socio-economic development
– one that looks at the individual,
his or her household, and the
local community where he or she
makes a decent living.
SEEDFINANCE Corporation
is witness to the rise of Paglaum
MPC and its conquest of various
challenges. From the very start
of the partnership with CARE in
the 1990s, then with the spun-
off SEAD-NGO, and now with
the SEEDFINANCE Corporation,
Paglaum MPC has always been
consistent in its adherence to
industry performance standards,
to SEEDFINANCE policies, to
visionary governance and
safe and sound operations, to
making a difference in the lives
of countless poor but enterprising
cooperative members and the
villages and towns where they
live. Needless to say, the hands
and fingers of positive change is
Jun P. Perez
Managing Director & C.O.O.
SEEDFINANCE Corporation
brought by Paglaum MPC to the
socio-economic landscape of
Northwestern Mindanao.
It is our singular pride to be
a partner of the Paglaum Multi-
Purpose Cooperative in the
empowering, development work
in Mindanao. From microfinance
to SME-finance, from human
development to community
and local economy building,
SEEDFINANCE reiterates also its
commitment to support Paglaum
Multi-Purpose Cooperative in
terms of financial and technical
assistance and business
development services to ensure
that the work in alleviating poverty
and building economically self-
sustainable communities will be
realized sooner.
Congratulations are in order.
To the leaders and general
membership of Paglaum MPC,
more power and continue on,
making a difference in the lives
of thousands!
2 0 0 8 A N N U A L R E P O R T
MASS-SPECC Cooperative Development Center
Tiano-Yacapin Sts., Cagayan de Oro City
C ongratulations to the
officers, management
and staff of Paglaum MPC
in the celebration of its 17th
Annual General Assembly!
Among the cooperatives in
Mindanao, Paglaum MPC
belongs to the younger
batches of cooperatives.
Young as it is, Paglaum has
shown that it has what it takes
to be a strong and healthy
cooperative serving the
members and the community.
The various awards it has
received is a testament to the
achievements it has made.
MASS-SPECC is honored
to have accompanied the
cooperative in crafting its
strategic plan from 2007 to
2011. The strategic plan outlines
where Paglaum Cooperative
would like to be in terms of
its membership, presence,
financial strength, products
and services and human
resources. The 2009 business
planning has highlighted that
the cooperative is not just
within the targets; there are
areas where it has surpassed
the targets. The achievements
are such that a review is
already scheduled to address
the positive improvements.
2 0 0 8 A N N U A L R E P O R T PAGLAUM
Today,
Cooperative has
Paglaum
microfinance. A number of
made
major strides in the area of
cooperatives have visited the
cooperatives to benchmark
its successes. Its delinquency
rate is at 6.66% PAR. It has
fully provided for probable
losses. Apart from achieving
key standards for savings and
credit, Paglaum Cooperative
has shown its pioneering
mettle. It has operationalized
the 1st Pinoy Coop ATM in
the Northwestern side of
Mindanao. By year-end of
2008, this ATM has the most
number of switch transactions
among the Pinoy Coop ATMs in
Mindanao. Given the success
in the present Plaridel office,
more ATMs are envisioned
to be operationalized in the
other branches. This is all in
the name of better services
to the members; that the
members can have access
to the financial services of
the cooperative anytime and
anywhere.
With the advent of new
developments in electronic
SYLVIA OKINLAY-PARAGUYA
Chief Executive Officer
financial servicing, the
connectivity of Paglaum
MPC to the world is in sight.
It is just a matter of time. As
Paglaum continues to bridge
the economic divide by
providing the opportunities
for the members to improve
their lives, it is also contributing
to bridge the digital divide.
And this is no ordinary
contribution to a world
which is now primed by the
influence of information and
communications technology.
As you continue to
reap successes, may the
cooperative continue to
work with other cooperatives
in MASS-SPECC. For the
cooperative movement is only
as strong as we keep the flames
of cooperativism alive among
the individual members and
among cooperatives. Again,
congratulations!


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila
T he First District of Misamis Occidental is so blessed that
amidst the period of crucial economic struggles, it never
ceases to believe that there is “paglaum”, through the
Paglaum Multi-Purpose Cooperative. This is the role that Paglaum
Multi-Purpose Cooperative has proven in 17 progressive and
successful years of strengthened commitment in making the
lives of the people better and productive, through helping them
how to help themselves. This, I consider, as your truest and most
meaningful achievement, among the many commendable
achievements you obtained.
Our partnership for sustainable development may take us a
longer mile as we together follow the same direction and pursue
one vision especially for our rural communities. Your successes
and progress create a pattern of greater achievement and
brighter future ahead. Therefore, I must congratulate the
dynamic leaders, the innovative staff, and the dedicated
members of Paglaum MPC, who endeavor in order to bring the
coop to its height.
Thus, I pray for a fruitful and a happy 17th Annual General
Assembly Paglaum MPC!
HON. MARINA P. CLARETE
Congresswoman, 1st District,
Misamis Occidental
10 PAGLAUM 2 0 0 8
Republic of the Philippines
PROVINCE OF MISAMIS OCCIDENTAL
O ffice of the P R O V I N C I A L G overnor
Capitol, Oroquieta City, 7207
I t is with great pride to extend my warm greetings and
felicitations to all the officers and members of Paglaum
Multi-Purpose Cooperative (PAGLAUM) on the occasion
of your 17th Annual General Assembly in April 2009.
Once again, I salute the dedicated men and women
behind the operation of PAGLAUM Coop for their tireless
endeavor in positioning the cooperative in map of sterling
progress. The Provincial Government of Misamis Occidental
is proud to have PAGLAUM Coop as its partner in the
development process of the province. Truly, the effort of
the cooperative in reaching out to rural communities has
gained immense success as evident by its prestigious awards
received such as the 2006 Most Outstanding Cooperative
in the Philippines, Gawad Pitak 2007 and the Century Coop
Circle Award.
As you gather on this auspicious and meaningful event,
it is my fervent hope that you continue your exemplary unity
and solidarity which you have demonstrated throughout the
years of your existence. I am optimistic that your unwavering
commitment to service will further bring your cooperative into
the limelight of more success and sustainability.
The Provincial Government is always behind your efforts
in helping revitalizing the spirit of cooperativism which is an
effective vehicle towards the attainment of our dream for
enduring peace and prosperity.
Happy 17th Annual General Assembly and Mabuhay!
LORETO LEO S. OCAMPOS
Provincial Governor
LPP National President
A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 1111
 Republic of the Philippines Republic of the Philippines
PROVINCE OF ZAMBOANGA DEL SUR PROVINCE OF ZAMBOANGA DEL NORTE
O ffice of the P R O V I N C I A L G overnor O ffice of the P R O V I N C I A L G overnor
Pagadian City | Tel. No. (062) 2141-868 / Fax No. 2142-359 Provincial Capitol, Dipolog City | Tel. No. (065) 212-4837 | Fax No. (065) 212-3563

O n the occasion of the 17th Annual General Assembly of

the Paglaum Multi-Purpose Cooperative I gladly convey
my earnest accolades to all its members for having
marked another fruitful and beneficial year in the service to
its members and the society. Driven by the core principles of
I n the light of societal needs, my warmest CONGRATULATIONS
to Paglaum Multi-Purpose Cooperative on your 17th
Annual General Assembly! That only shows how you give
an ultimate HOPE to the people, and how you remained
being resolute in your objectives by building a foundation for
solidarity and community, you have actively contributed to a potent and more cohesive community.
the upliftment of the economic, social, political and moral
conditions of the people. And I congratulate you for such a In the midst of the emerging problems confronting our
commendable feat! economy, it is just proper to give recognition to the potentials
of your Multi-Purpose Cooperative in formulating solutions
This assembly articulates your resolute commitment to carry for the betterment of the quality of lives of the people
on with the vision and the mission that brought you together in the community. Your involvement and participation
in this cause. In the phase of economic challenges, the for a comprehensive outcome in all possible sustainable
role of cooperatives must persist and unveil new and better development programs is vital to the lives of the people
avenues of service to its members. Being a multi-awarded from all walks of life who are differently-abled. Likewise, your
cooperative in Mindanao, I am confident of your capacity contribution to nation building lasts as we fight together in
to sustain the state of operations, as well as meet the needs solving financial crisis, thereby, raising the nation against the
and respond to the challenges of the present with precision doom of poverty.
and competence. Stability calls you to remain qualitatively
unchanged as you confront today’s economic recession. I Furthermore, please instill in your minds that in every
look forward to PMPC’s steadfast journey toward greater endeavor you pursue, service to the people specially the
innovations. poorest among the poor must be our major concern. The
service must come from the heart that would sincerely cater
Congratulations and Mabuhay! to the needs of the people.

I fervently hope for a more resounding success and

continuing development of your Multi-Purpose Cooperative
who will be our partner in attaining goals of prosperity and
peace!
AURORA ENERIO-CERILLES
Provincial Governor Again, CONGRATULATIONS and more power! Mabuhay!

ATTY. ROLANDO E. YEBES

Provincial Governor

12 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 1313

 Republic of the Philippines
PROVINCE OF MISAMIS OCCIDENTAL
O ffice of the M U N I C I P A L M A Y O R
Municipality of Plaridel
M y warm greetings and felicitations to the visionary
leaders, ever supportive staff, proactive members, and
all the people behind the forthcoming 17th Paglaum
Multi-Purpose Cooperative Annual General Assembly on May,
2009.
It is my pride that Paglaum Multi-Purpose Cooperative, a
nationally-renowned cooperative, was born in our town. With
God’s grace and with the power of cooperativism, I believe
that the transformation of Plaridel on year 2020: from a Town to
a City, is feasible. Your outstanding records of achievements
coupled with the unrelenting support of the members, I am
certain that your cooperative will achieve more than what it
has envisioned.
Being the partner of the Local Government of Plaridel, I
sincerely thank you for your commitment in providing access
to microfinance services to our small farmers, fisherfolks and
other marginalized sectors in this municipality. Our joint effort
will, definitely, strengthen our commitment in addressing
poverty issues.
Let us continue working together so that, together, we will
fulfill our noble visions for the welfare of the people.
God bless!
ATTY. ERNIE D. CLARETE
Municipal Mayor
14 PAGLAUM
PAGLAUM MULTI-PURPOSE COOPERATIVE
Eastern Looc, Plaridel, Misamis Occidental
Telefax No. (088) 344-8633 or Cell No. 0921-243-2496
Email add: paglaumcoop@yahoo.com
I n behalf of the Board of Directors of Paglaum Multi-Purpose
Cooperative, I am once again privileged to congratulate
all of us for a well-accomplished 2008. We have heard
frightening news about the global financial crisis, hitting the
most advanced countries.
Despite all these sad stories, we finished 2008 with resounding
success. What was our secret? First, let me emphasize that our
strength as a cooperative was due to our dedication. We have
shown this by paying our loans and other obligations promptly.
We put Paglaum first in the roster of financial service providers.
Second, we have a team of committed officers, management,
and staff that continue to strive for professional growth and
excellence in the work. Third, we are guided by our vision and
mission which is the reason why we work not just for ourselves,
but for everyone that belongs to Paglaum.
By the end of 2008, our cooperative grew in quality and quantity.
This is proof that with the right motivation and intention, we can
certainly move up no matter how difficult the situation is.
Again, my appreciation belongs to the management and staff
for their energy to keep our coop up and running. We have
outsmarted the global financial crisis in 2008. And we have
more confidence that we will be able to sustain our momentum
in 2009 and beyond.
VIRGINIA S. ROSAL
BOD Chairperson
2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 1515
 2008 AT A GLANCE
( w i t h 2 0 0 7 c o m p a r a t i v e f i g u r e s )
PAGLAUM MULTI-PURPOSE COOPERATIVE
Eastern Looc, Plaridel, Misamis Occidental
Telefax No. (088) 344-8633 or Cell No. 0921-243-2496
Membership 5000
2007
Email add: paglaumcoop@yahoo.com BRANCHES 2007 2008
PLARIDEL 3,225 3,920 4000 2008
CALAMBA 2,527 3,112
OROQUIETA 3,322 4,351 3000
TUDELA 1,742 2,498
DIPOLOG 3,506 4,687 2000
PAGADIAN 1,101 1,676
OZAMIZ 1,171 2,219
1000
SINDANGAN 917 2,122
MOLAVE 0 1,248

T
0
he global financial crisis which was heavily suffered by most TOTAL 17,511 25,833
PLARIDEL CALAMBA OROQUIETA TUDELA DIPOLOG PAGADIAN OZAMIZ SINDANGAN MOLAVE
powerful economies around the world in 2008 has once again
placed us in a frightful situation. The World Bank and the Asian Share 12000000
Development Bank predicted more devastating effects of the global BRANCHES 2007 2008 2007
10000000
crisis such as bankruptcies, job losses, and increased poverty. PLARIDEL 9,202,912 11,338,117 2008
CALAMBA 4,478,578 6,226,063 8000000
OROQUIETA 8,275,945 9,218,945
According to our Philippine economists, we may have been less- TUDELA 2,599,125 3,936,261 6000000
affected by the financial crisis in 2008, but we will witness its full impact DIPOLOG 3,373,283 4,584,657
PAGADIAN 5,828,406 2,274,127 4000000
in 2009. This sounds very frightening to all of us Filipinos, indeed. OZAMIZ 966,098 2,086,818
SINDANGAN 482,723 1,814,777 2000000
MOLAVE - 787,502
The 2008 operations tell us a different story. The audited financial TOTAL 35,207,070 42,267,267 0
statements reveal to us that we have performed well despite difficult PLARIDEL CALAMBA OROQUIETA TUDELA DIPOLOG PAGADIAN OZAMIZ SINDANGAN MOLAVE
situations. We have posted a net surplus of Php9.58M, exceeding
Savings 20000000
our annual net savings projection. My congratulations therefore to all
BRANCHES 2008 2007
the members of the Board of Directors, management, and staff who 2007
PLARIDEL 11,896,604 16,951,948 15000000 2008
used team effort and dedication in their work to withstand the test of CALAMBA 4,467,407 10,906,229
time. OROQUIETA 5,480,031 10,432,850
10000000
TUDELA 1,593,584 2,530,250
DIPOLOG 2,900,473 3,341,348
We have continued to grow in our total assets. We have increased PAGADIAN 965,261 1,719,729
5000000
OZAMIZ 1,006,167 3,930,002
the number of our members. We have opened our doors in Molave, SINDANGAN 429,328 1,426,187
Zamboanga del Norte and Tangub City, Misamis Occidental. MOLAVE - 656,471 0
TOTAL 28,738,855 51,895,014 PLARIDEL CALAMBA OROQUIETA TUDELA DIPOLOG PAGADIAN OZAMIZ SINDANGAN MOLAVE
Our successful linkage with Kiva International, the world’s first
person to person micro-lending website, has funded more than 300 Loans Released 20000000
of our micro-entrepreneurs. The funds come from individual lenders BRANCHES 2007 2008 2007
who have the passion to help finance the enterprising poor. Our PLARIDEL 29,044,710 45,399,452 15000000 2008
CALAMBA 20,248,720 33,198,724
website, powered by PLDT SME Nation makes us more competitive in OROQUIETA 30,152,526 48,642,568
the market. We will introduce more innovative products and services TUDELA 18,223,593 32,457,876 10000000
as we take advantage of our web connectivity. One can access DIPOLOG 25,744,948 35,381,080
PAGADIAN 5,905,217 18,007,026
Paglaum’s information by visiting www.paglaumcoop.org.ph. OZAMIZ 12,855,093 25,085,689
5000000
SINDANGAN 7,486,575 16,543,106
MOLAVE - 9,599,029 0
My dear friends, it is in reaching out to our rural communities that TOTAL 149,661,382 264,314,550 PLARIDEL CALAMBA OROQUIETA TUDELA DIPOLOG PAGADIAN OZAMIZ SINDANGAN MOLAVE
we are able to advance our mandate- to improve the lives of the
families we serve. We will not get tired of reaching-out because we
are inspired to serve as a team and as a family. We will not fear the Total Assets 50000000
2007
grim prediction of 2009 because we are well-prepared for it. I am BRANCHES 2007 2008
PLARIDEL 26,008,003 42,549,190 40000000 2008
confident in our team. We will weather the storm. CALAMBA 13,454,910 24,538,959
OROQUIETA 20,646,746 32,200,342 30000000
TUDELA 9,229,839 15,343,373
DIPOLOG 11,847,356 14,811,597 20000000
PAGADIAN 8,735,354 8,164,467
OZAMIZ 7,391,617 12,073,904
10000000
SINDANGAN 6,062,954 9,938,821
GADWIN E. HANDUMON MOLAVE - 6,036,935
0
General Manager TOTAL 103,376,779 165,684,588
PLARIDEL CALAMBA OROQUIETA TUDELA DIPOLOG PAGADIAN OZAMIZ SINDANGAN MOLAVE

16 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 1717

 MEETING STANDARDS, ACHIEVING BOD & COMMITTEE ELECTION ‘08

0.00

0.00

0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,721,649.60

566,645.84
162,956.56
170,735.94
52,501.00
6,089.39
91,786.85
MOLAVE

2,095,232.45

4,867,597.63

1,273,900.00

157,100.00
30,129.00
254,100.00

8,712,307.49
MOLAVE
2,980,700.00
4,673,100.00

230,000.00

9,599,029.00

MOLAVE

100.00%
 

 
 
 
 
 
 
OFFICIAL RESULTS
SAFETY AND SOUNDNESS
More than anything else, Paglaum Multi-Purpose Cooperative adheres to Board of Directors TOTAL
globally- acceptable financial and organizational standards. This is to ensure Luz G. Moneva 1399
safety and stability of the cooperative that leads to its sustainability. The various Eduardo P. Delos Santos 1441
standards for savings and credit cooperatives and micro-finance institutions

0.00

0.00

0.00
0.00
0.00
0.00
0.00
0.00
8,770.90
SINDANGAN
4,102,688.23
3,606,392.19

294,436.31
32,067.99
544,064.95
27,651.69
193.50
579.72

59,166.58

13,236.06

8,689,248.12

SINDANGAN
5,641,075.99
9,200,550.00

747,500.00

418,500.00
318,290.00
89,370.00
108,000.00
19,820.00

16,543,105.99

SINDANGAN
15,954,974.47
68.76%
 

 
 

 
Rosario B. Bation 1568
reveal that Paglaum was able to maintain a healthy condition. Victor Chupuico 1279
Teodolita T. Bato 1278
APPEAL RATIOS (From PEARLS ratios of WOCCU) Jacinto Paalisbo 1135
RATIOS STANDARD COOP STATUS Virginia S. Rosal 1249
A1 (Delinquency) < or equal to 5% 6.66%

0.00

0.00
0.00
0.00
0.00
0.00
OZAMIZ
4,127,086.29
2,710,236.68
1,058,100.00
369,912.84
179,328.38
1,179,163.97
22,548.61
1,335.00
1,770.73
138,541.75
230,376.36

10,018,400.61

OZAMIZ
7,106,100.00
9,217,700.00
4,273,437.00
1,598,970.00

2,101,000.00
278,800.00
56,882.00
16,800.00
211,000.00

225,000.00

25,085,689.00

OZAMIZ
25,060,100.58
97.29%
 
 
 
 
P2 (Loan loss provision <12 mos) 35% 56.55% TOTAL ACTUAL VOTES CAST 2949
QUALIFIED VOTERS 6709
P6 (Solvency) 110% 113.38%
E9 (Net Institutional Capital) > or equal to 10% 5.35% Audit Inventory Committee(AIC):
A2 (Non-Earning Assets) < or equal to 5% 17.37% Natividad M. Jaim 1830
L1 (Liquidity) 15% or higher 56.87% Marilou A. Dela Rosa 1405

0.00

0.00

0.00
0.00
PAGADIAN
3,152,536.42
7,754,423.98

823,257.64
109,655.84
719,678.78
19,226.91
5,693.10
23,849.05
413,558.51
184,506.93
12,403.58
14,932.66

13,233,723.40

PAGADIAN
4,583,809.12
10,574,920.00

971,276.21
898,036.98
71,000.00
184,240.00
46,294.00
52,650.00

510,000.00

0.00
0.00
114,800.00
18,007,026.31

PAGADIAN
17,903,740.69
98.73%
 

 
 
Credit Committee (CRECOM):
Above data show Paglaum MPC’s performance in its savings and credit operations for Rosario O. Jangad 1514
2008. Paglaum is seen achieving the standards on Provisions for Loan Loss of less Jeccil R. Tuastumban 1217
than 12 months, Solvency, and Liquidity ratios. On the other hand, Paglaum will have Nila B. Quimno 1496
to prioritize in meeting the requirements for Delinquency, Net Institutional Capital, and

0.00

0.00
0.00
0.00
0.00
DIPOLOG
3,152,536.42
7,754,423.98

823,257.64
109,655.84
719,678.78
19,226.91
5,693.10
23,849.05
413,558.51
184,506.93
12,403.58
14,932.66

13,233,723.40

DIPOLOG
6,961,795.00
23,610,325.00

2,024,100.00
123,000.00
1,090,500.00
239,960.00
163,830.00
99,000.00
395,000.00
138,000.00
13,500.00

35,381,080.00

DIPOLOG
35,651,744.12
98.55%
 

 
 
Non-Earning Assets.

The table shows Paglaum’s CGAP FINANCIAL RATIOS

comparative performance for the Standards 31-Dec-07 31-Dec-08
FINANCIAL STRUCTURE

0.00
0.00
0.00
0.00
0.00
TUDELA
4,205,982.90
4,921,044.41
246,000.00
157,957.44

1,395.00
1,313,729.67
1,461,906.24
42,758.61

54,287.30
932,747.93
579,293.02

13,917,102.52

TUDELA
7,683,650.00
14,549,400.00
904,318.00
494,600.00
2,079,000.00
3,383,000.00
695,640.00
151,937.86
674,400.00
1,210,000.00
631,930.00

32,457,875.86

TUDELA
32,521,032.57
98.70%
years 2007 and 2008 vis-à-vis the

CGAP Financial Ratios. These
ratios particularly refer to Paglaum’s
performance in its Micro-Finance
operations. Please note that there
was a significant improvement in the
Earning Assets 85-95% 67% 72%
Loan Portfolio 70-80% 66% 70%
Savings 70-80% or increasing 27% 29%
External Loans 20-30% or decreasing 21% 25%
Share Capital = or < 20% 34% 24%

0.00 
OROQUIETA

619,888.28
212,034.94
1,210,797.73
1,438,828.78
40,039.80
875.00
180,444.83
1,785,522.05
932,639.75

19,641.65

OROQUIETA
8,726,500.00

65,642.00
7,285,223.21
10,573,985.84

24,299,921.86

30,153,851.00
 0.00
560,000.00
2,103,500.00
2,941,000.00
440,185.00

1,466,690.00
2,185,200.00

 0.00
 0.00
 0.00
 0.00
 0.00
48,642,568.00

OROQUIETA
49,301,195.54
98.30%
 

 
 
Reserves = or > 10% 3% 5%
coop’s performance in most of the

LOAN PORTFOLIO – By Product Category

ratios presented (from 2007 to 2008). SUSTAINABILITY/PROFITABILITY

LOAN RELEASES – By Product Category

Return on Equity (ROE) = or > 20% 13% 19%
Safety and soundness can Return on Assets (ROA) = or > 10% 5% 6%
be achieved only if there is OSS = or > 120% 114% 122%

0.00
0.00
0.00

0.00
0.00
7,390.00
CALAMBA
9,139,651.76
4,401,960.37
737,001.04
308,944.54

20,262.62

69,470.17
1,656,511.75

16,333,802.25

CALAMBA
12,294,800.00
13,495,248.00
1,149,166.00
970,000.00
710,000.00
3,584,200.00
371,220.00

596,700.00
20,000.00

0.00

33,198,724.00

CALAMBA
33,333,684.66
98.71%
 

prudence in the operations
of the cooperative and if
financial disciplines are in
place. In the same manner,
FSS = > 100% 108% 111%
Yield on Gross Loan Portfolio = or > 25% 54% 76%
Profit Margin = or > 80% 96% 95%
Funding Expense Ratio = or < 10% 2% 5%
Cost of Funds Ratio = funding expense ratio or < commercial rate 7% 3%

0.00 
Paglaum continues to Debt-to-Equity Ratio = or < 8X 160% 2%

0.00
715.00

6,000.00
PLARIDEL
9,393,209.11

31,280.18
10,468,486.45

139,749.95
887,324.55
609,942.59
7,462.50

924,058.46

2,220.00
1,172,448.43

10,763.21

51,759.10
11,790.39

23,711,209.92

PLARIDEL
10,847,975.00
26,734,299.00

846,000.00
1,718,000.00
1,194,800.00
301,530.00
37,248.00
332,400.00
1,510,700.00
1,657,000.00

30,000.00
53,500.00
130,000.00

45,399,452.00

PLARIDEL
44,915,740.73
98.65%

aspire for a higher degree of
PORTFOLIO QUALITY
professionalism among its

officers, management, and
staff because it believes in
the significance of its human
resources in achieving safety
LOAN COLLECTIONS
Portfolio-at-Risk = or < 5% 4% 8%
Arrears Rate = or < 5% 2% 8%
Repayment Rate = or > 95% 90% 96%
Allowance for Loan Losses = 100% of PAR > 1 yr and = 35% of PAR < 1 yr 95% 53%
Loan Loss Rate = or < Allowance for loan losses 0.62% 0.00%

Amount Collected
LOAN CATEGORY

LOAN CATEGORY

and soundness.

Collection Rate
EFFICIENCY/PRODUCTIVITY

REGULAR LOAN

REGULAR LOAN

MICRO-SOLAR
EDUCATIONAL

EDUCATIONAL

INDICATORS
No. of Clients per Field Staff 12 165 131

EMERGENCY

EMERGENCY
MOTORCYLE

MOTORCYLE
DISCO LOAN

DISCO LOAN
PHILHEALTH

PHILHEALTH
APPLIANCE

APPLIANCE
RICE LOAN

RICE LOAN
Average Loan Size per Client = or < P25,000 7,144.08 8,626.17

HOUSING

HOUSING
PENSION

PENSION
Operating Expense Ratio = or < 25% 32% 25%

PDP-LP

PDP-LP
TOTAL

TOTAL
MEDAL

MEDAL
BOLA

BOLA
MVAL

MVAL
Cost per Client 1,841.18 3,375.31

MAP

MAP
Cost per Peso Loan = or < 0.15 0.39 0.35

18 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 1919

nnovating to
ADDRESS RURAL
Kiva’s (www.kiva.org) mission is to connect people through
lending for the sake of alleviating poverty.
The people you see on Kiva’s site are real individuals
in need of funding - not marketing material. When you
browse entrepreneurs’ profiles on the site, choose someone
to lend to, and then make a loan, you are helping a real
person make great strides towards economic independence
and improve life for themselves, their family, and their
community. Throughout the course of the loan (usually 6-12

POVERTY
months), you can receive email journal updates and track
repayments. Then, when you get your loan money back,
you can relend to someone else in need.
Kiva partners with existing expert microfinance
institutions. In doing so, we gain access to outstanding
entrepreneurs from impoverished communities world-
wide. Our partners are experts in choosing qualified
entrepreneurs. That said, they are usually short on funds.
Through Kiva, our partners upload their entrepreneur
profiles directly to the site so you can lend to them. When
you do, not only do you get a unique experience connecting
to a specific entrepreneur on the other side of the planet,
but our microfinance partners can do more of what they
do, more efficiently.

F or most world economic powers, 2008 was unfortunate. Some

of the biggest financial institutions suffered heavy blows, and
eventually shut-off their operations. The crisis created by the rich
countries in the North has severely affected major world industries,
from the mining industry in Zambia to the toy-making industry in
China. The Global Financial Crisis was the most popular lingo of all
people from all walks of life.

The Philippines has also its share of the global
economic crisis. A number of manufacturing
companies have ceased its operations, causing
sudden unemployment of thousands of Filipinos.
The year 2008 was seen to be very tragic but
it taught Paglaum MPC to be more resilient and
innovative. Its innovativeness was its means to
advance its mandate- to help improve the lives of
its members. The year made everyone at Paglaum
more challenged and thrilled to embrace major
innovations in serving the members.
THE KIVA PARTNERSHIP. Last November
2008, Paglaum MPC forged partnership with Kiva
Microfunds, the world’s first person-to-person
micro-lending website, empowering individuals
to lend directly to different entrepreneurs around
the globe. Kiva’s lenders are ordinary individuals
– teachers, nurses, bus drivers, farmers, students,
retirees. By visiting the Kiva website, they are able
to lend small amounts of funds (minimum of US$25)
to finance the loans of various individual or groups of
microentrepreneurs from the developing countries
such as the Philippines. Kiva works through a local
microfinance partner (such as Paglaum MPC) to
facilitate the disbursement and
collection of these loans raised
on the internet. In just less than
six months, the Kiva lenders
have assisted Paglaum’s 654
micro-entrepreneurs with loans
totaling Php8.1M in additional
funds for the cooperative. It
financed members’ various
projects such as livestock-
raising, vegetable production,
rice farming, fishing, sari-sari
store, and many more. All these
individual stories, with their corresponding pictures,
can be found in the Kiva website for everyone to
see. As Paglaum enters the active phase of Kiva
partnership, more members are expected to be
assisted.
PAGLAUM Reaches the
World via Internet. Access to
Paglaum’s information and services
can be done 24/7 through browsing
www.paglaumcoop.org.ph. Powered
by the PLDT SME Nation, this facility
is seen to improve communication
system between Paglaum’s branches
and departments. The website
serves as the databank of the coop’s
information, which can be readily
accessed by its partners, officers,
management, staff, and even the
members. Web site building opens
new markets and expands market
reach by going online. This is in
anticipation of Paglaum’s future
businesses that will make use of the
internet. Since Paglaum is fully-
connected to the worldwide web,
reaching out to the world is as easy
as clicking the computer mouse in
seconds.
More and more people and
businesses use the Internet to
find information. Paglaum is in
the pipeline of IPVPN (Internet
Protocol Virtual Private Network)
connectivity. This is a solution that
links all branches to the head office,
enabling them to electronically-
monitor business transactions, any
time of the day. IPVPN allows
companies to transmit data and voice
communication between branch
offices and the corporate network.
Expanding Paglaum’s reach
through Oikocredit. Oikocredit
is a worldwide, cooperative financial
institution offering loans, capital and
technical support to microfinance
institutions and other enterprises
focused on building opportunities for
impoverished
entrepreneurs
without access
to credit.
T h e
Oikocredit international support
office is based in Amersfoort, the
Netherlands and Oikocredit has local
representation in around 30 countries
worldwide. Oikocredit finances
projects of groups that are in need of
credit but are faced with difficulties
in obtaining loans through standard
financial institutions for the lack
of collateral. Oikocredit does not
finance organizations, businesses,
and projects which raise ethical
objections, cause social conflict, or
would cause serious damage to the
environment.
Oikocredit ultimately aims to
facilitate meaningful transformation
in the lives of the end-users of
its resources from positions of
vulnerability to socioeconomic
security and as much as possible, as
community social investors.

For 2008, Paglaum applied for
accreditation with Oikocredit. After
conducting assessment, Paglaum
was accredited as a qualified Micro-
Finance Institution (MFIs) with
P32M credit line granted. This will
go a long way in providing loans
to the micro-entrepreneurs and
financing other projects of Paglaum.
Insurance now made
more affordable to Micro-
Entrepreneurs. In partnership
with CARD-MBA, Paglaum
has pioneered micro-insurance
program in order to serve its
German Bank Official visits
Paglaum. The year 2008 was
indeed a year of reaching out to the
world for Paglaum MPC. Heinz
Peter Heidrich, the Honorary Consul
to the Republic of the Philippines &
Managing Director of Essen Bank
of Bistum, Germany paid Paglaum
MPC a two-day visit on June 27-28,
2008.
This rare visit of Mr. Heidrich
to the rural communities of Misamis
Occidental was made in order to
explore possible partnership between
Paglaum MPC and Essen Bank of
Bistum and several other partner
organizations of Essen Bank in
Europe that support micro-finance
programs. The visit was spent well
for separate meetings with Paglaum’s
Board of Directors, Governor Loreto
micro-entrepreneurs. Paglaum’s
partnership with CARD-MBA is on a
Build, Operate and Transfer (BOAT)
scheme where the latter operates the
micro-insurance services for three
years. On the fourth year, Paglaum
will take over the management of
this program.
This program assures members’
dependents of a maximum of
Php100,000.00 insurance benefits
for only Php15/per week. A member
may also avail of the retirement
plan for a minimal Php5.00 weekly
premium. With this program offered
by Paglaum, getting a life insurance
Leo S. Ocampos, and Oroquieta City
Mayor, Atty. Jorge T. Almonte. Mr.
Heidrich was also able to attend the
dinner meeting of the Rotary Club of
Oroquieta City being the guest of Mr.
Gadwin E. Handumon.
Paglaum Opens Molave
Branch & One Satellite
Office. The opening of a branch
in the progressive town of Molave,
Zamboanga del
Sur increases
Paglaum’s
opportunity to
reach-out to the
communities
of Zamboanga del Sur. The said
expansion has added 1,248 members
since it opened on April 30, 2008.
Meanwhile, Tangub City satellite
office was opened on October 20, 2008
as part of Ozamis branch expansion.
These openings bring a total of nine
(9) branches and one (1) satellite
office serving 25,833 members in
Northwestern Mindanao.
and retirement plan is made more
affordable to the coop member.
New Loan Products. The coop
launched two new loan products
in order to help members improve
housing condition and acquire
vehicles for use in their enterprises.
The Micro-Housing loan product
allows qualified members to borrow
a maximum of Php300,000.00 from
the coop either for home repair or
acquisition of a home lot.
The coop also offers vehicle/
motorcycle loan in order to assist
members in moving their business
faster. This product helps members
save on transportation cost incurred
in running their enterprises.
The year 2008 may have been a
sad story for most economies around
the world. But with prudence in
management and openness to change,
Paglaum MPC was able to weather
the crisis and serve their members
well.
Through the years, Paglaum
has touched the lives of so many
Misamisnons and Zamboangenos.
These are the farmers, vendors,
laborers, ordinary employees, and
many others. It gave hope even to the
most vulnerable sectors- the persons
with disabilities (PWDs), indigenous
peoples (IPs), and the elderly.
Paglaum continues to reach out to
rural communities simply because it
is the heart of its business.
Featured Micro-Entrepreneur
famous
home-made
suman reaches
the US, Japan
The suman that has gained so much popularity in
Oroquieta City has also reached the US and Japan;
the success of Mrs. Dionesia Dela Peña was handed
over to daughter-in-law Lyn.
attended various business development
training/workshops conducted in her
W hat is the secret of Oroquieta City’s suman
that balikbayans would love to bring back
to the US and Japan? Even a local traveler to this
center.
The business has been known to be
one of Misamis Occidental’s favorite
delicacies. A lot of prominent people in
the province place orders of suman on
gentle city will find it necessary to bring some of special occasions and send them to their
this native delicacy back to his/her destination. visitors as a pasalubong (homecoming
treat). Some foreign visitors bring the
The reason is simple. The suman Dionesia. Being new in the business, products to the United States, Japan,
business started by Mrs. Dionesia Dela Lyn suffered some “birth pains” in Hongkong, and many more.
Pena has gone through many years of running the suman-making. She had no Due to the high demand for suman, the
dedicated product development. The idea how to anticipate consumer demand. couple needed more financial assistance
taste has improved year after year. As Oftentimes, she sells so few. Sometimes, to meet consumer demand. Paglaum
people continuously patronize the native she ends up having a lot of unsold suman. continued to lend Lyn and husband to
delicacy, they can testify that Mrs. Dela Aside from improved product, her support the expansion of their business.
Pena’s suman has improved its taste so other constraint was on how to acquire She is now on her 11th loan cycle, with
much that it became very famous among capital in order to purchase some of the loan availed amounting to Php14,000.00.
the people of Oroquieta. For some, it is equipment she needed in her business. The couple considers Paglaum MPC
something that’s “to Then one day, her mother instrumental to their business success.
die for”. in-law suggested that Recently, the couple availed of motor-
Paglaum has Paglaum Multi-Purpose vehicle loan to support transportation
witnessed how this Cooperative (PMPC) is requirements of their growing business.
business flourished. offering small loans to From 300 pieces sold five (5) years ago,
It helped Dionesia micro-entrepreneurs like the average daily production of suman is
improve her her. now 1,000 pieces.
business through Prompted by her Due to increase in volume of
micro-loans need to raise funds, production, the couple has employed
availed from the she immediately went their neighbors as grinder, packers, and
cooperative. When
The new cab availed through
to Paglaum to seek
Paglaum’s motor-vehicle loan helps the banana leaves cleaners.
her son John Paul transportation needs of Lyn’s business. financial assistance. She The future looks bright for the
decided to marry, then became a micro- couple’s only child as their suman
she introduced the suman business to her finance borrower. The proceeds of her business continues to be nourished
daughter in-law Lyn. first loan amounting to Php3,000.00 was through Paglaum’s assistance. For her
As soon as Lyn developed the used to buy equipment and purchase part, Mrs. Dionesia dela Pena is very
necessary skills in making suman, she ingredients for her suman. With her happy to see her son and daughter in-law
has decided to sustain the business interest to keep business growing and prosper in their business she handed to
introduced by her mother in-law improve her product, she diligently the couple as pamana.
24 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 2525
26 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 2727
 PACAP appoints PCDFI as
FOCAS Secretariat 25 years of Empowering
Rural Communities
Paglaum Community Development Foundation Incorporated (PCDFI) is a community-

T he Philippines-Australia Community Assistance of its fund from other sources. PACAP’s exposure through the 7 oriented child development center under the network of Kindernothilfe, Incorporated based
CSO’s implementing PACAP funded project is about P 6 Million
Program (PACAP) has been working with the while the rest is equally shared by the private sector and the Local
in Plaridel, Misamis Occidental. Reaching its 25 years of community service, Paglaum
Provincial Government of Misamis Occidental Government of Oroquieta City in capital investment. The FOCAS Community’s impact is already taking a tangible shape.
and various stakeholders since 2005. PACAP is area covers the municipalities of Aloran, Lopez Jaena, Plaridel and
the city of Oroquieta. It was a different scenario back
an Aus-AID grant facility envisioned to empower in 1983. Children were severely
A large portion of the grant fund for Save Labo River
poor communities to pursue economic growth Program (SLRP) FOCAS covering the cities of Tangub, Ozamiz malnourished and mostly out of school.
and achieve better standard of living. The reach and the municipality of Clarin, is spent for the construction of This sad plight of the young kids in
of PACAP projects is nearly across the entire water system. The remaining allotted fund was earmarked for Plaridel had caught the attention of Ms.
Philippine archipelago, through the Focused watershed rehabilitation and livelihood projects of 12 barangays Louellyn Monera, who, along with the
within the Labo Watershed. The water system project was able to
Community Assistance Scheme (FOCAS) and leverage about P1.4Million worth of materials from the Community
concerned committee of St. Nicholas de
Responsive Assistance Scheme (RAS) funding Managed Agrarian Reform Project (CMARP) of DAR and about P Tolentino of the Philippine Independent
modalities. 925,000.00 in cash from the Local Government of Ozamiz City and Church, founded Paglaum Center now THE 25TH ANNIVERSARY WAS MORE MEMORABLE THROUGH THE PRESENCE OF (from left to right) MR.
PCDFI. Part of its humble beginnings PETER BELLEN, KNH-PHILIPPINES COUNTRY PROGRAM MANAGER, DR. JONA CARABAL-HANDUMON,
The Province of Misamis Occidental is one of the recipients the Provincial Government of Misamis Occidental through the PEO prime movers MRS. LOUELLYN H. MONERA with her husband MR. GREGO E. MONERA beside her; MR. GADWIN
of PACAP through its FOCAS window. This program supports provided its technical expertise. was the construction of its first building E. HANDUMON, PCDFI Administrator(3rd from right) beside him GOV. LORETO LEO OCAMPOS, Province of
Misamis Occidental.Ever supportive partners from banks and Local Government Units graced the occasion.
community development projects through Integrated Area Iligan Bay Coastal Resource out of salvaged materials.
Development (AID) approach. PACAP interventions Management and Development From the time PCDFI started, it parents of beneficiaries, with an initial savings, which in turn are used to lend to
is assisted and facilitated by Program (IBCRMDP) FOCAS
offered various services and programs capital of P2,000.00. This cooperation members in need of financial support.
Civil Society Organizations, followed the lead of CIRDP.
POs, Academe, National Line The FOCAS piloted the Marine that aimed to empower the members of was born out of the beneficiaries’ long During its 25 years of community
Agencies and Local Government Ornamental Fish (MOF) the community especially the children. experience of working with each other service, despite adversity and challenges,
Units. project and envisioned this as Focused areas were on health and nutrition, through parents’ core group in the center. Paglaum Community Development
The facilitation is performed an integrating project. MOF education, and community development PMPC pursued the socio-economic Foundation, Inc. is able to continue serving
by FOCAS Secretariat. In was conceived via industry- which include programs on literacy, development of the community through the people in hope that one day their lives
Misamis Occidental, Paglaum based Value Chain Analysis skills training, responsible parenthood, various micro-enterprises and livelihood will have a brighter future. It is no doubt
Community Development (VCA). The stakeholders saw
and coop capacity building. Through projects such as micro-finance for the that Paglaum has dedicated 25 years of
Foundation Incorporated was the light on the partnership
chosen as FOCAS Secretariat between the South East Asia these programs, children improved their marginalized sector, palay marketing service to the people of Misamis Occidental
for Coconut FOCAS Area in Fisheries Development Center health condition and many received and trading in support to the farmers, and Zamboanga Peninsula. This selfless
2005. For keeping a good track (SEAFDEC) and the Provincial basic education. Parents enhanced financial intermediation such as savings commitment to service was recognized
record, PCDFI was chosen as the Government of Misamis home management generation, capital build- via numerous awards and citations
Provincial FOCAS Secretariat Occidental on grouper hatchery. skills. Community up formation and other received from various local, national,
that spearheaded the facilitation of Banking on this partnership, empowerment was at services. and international allied organizations.
programs of the four FOCAS areas the stakeholders decided to
work. This has realized Moreover, as Chief Executive Officer and
in the province. There are four (4) undertake the integrated grouper nursery and grow-
FOCAS areas and these have evolved in the past out project under the Misamis Occidental Aquaculture Ventures The foundation’s Paglaum Community General Manager of PCDFI and PMPC
three years. The four (4) FOCAS themes are: Coconut Industry Corporation (MOAVEC). biggest step towards D e v e l o p m e n t respectively, Mr. Gadwin E. Handumon
Rehabilitation and Development Program (CIRDP), Save Labo Mt. Malindang Range Natural Park Development Program evolution was the Foundation’s desire to was recognized as 2007 Most Outstanding
River Program (SLRP), Iligan Bay Coastal Resource Management (MMRNPDP) FOCAS is also embarking on the VCA of rubber organization of have more families that Misamisnon for his sincere efforts in
and Development Program (IBRCMDP) and Mt. Malindang Range industry. It will cover the Municipalities of Bonifacio, Don Paglaum Multi- are liberated from the bringing about positive developments in
Natural Park Development Program (MMRNPDP). Victoriano, and Concepcion. Mt. Malindang FOCAS has seven Purpose Cooperative bondage of hopelessness. Misamis Occidental.
The highlight of the CIRDP was the establishment of the (7) on-going projects. The FMC approved to plant more than 300
(PMPC) on February Not only did it respond to PCDFI taught the communities to
integrated coconut processing center in the CIRDP FOCAS. hectares of rubber both as industrial and reforestation crop.
CIRDP’s working principle is quite simple – the first step in Paglaum CDFI did not only function as Secretariat for CIRDP 1992, which was the attainment of the total be pro-active and help change their fate.
rehabilitating the coconut industry in the province is to process FOCAS. They were also approved as FOCAS Secretariat of the headed by Mr. Gadwin well-being of children, PCDFI’s presence in the communities is
the whole coconuts into primary products, specifically, copra, raw three other FOCASes of Misamis Occidental for 2008 until PACAP E. Handumon, Project most importantly, it as good as its symbol. It means that for
coconut fiber and coconut dust/peat. This scheme would add value to ends its engagement in the province in 2009. This major role of Administrator. The established PMPC as the every storm that has passed, PAGLAUM
the coconut more than the traditional copra demand. These various PCDFI in the implementation of various projects in the Province of cooperative was Mr. Gadwin E. Handumon initiated the formation means to promote self- is the rainbow and the sun. It means new
products will be processed in a P10 Million facility named, Misamis Misamis Occidental proves that the foundation is ready to undertake created with only
of Paglaum Multi-Purpose Cooperative, with
help among the people in hope and a new day.
initial cooperators coming from the parents/
Occidental 1st Integrated Coconut Processing Center (MOFICPC) other engagements with other donor agencies and partners in the
35 members, mostly beneficiaries of the foundation.
the community through
at Bolibol, Oroquieta City. The project was able to leverage 40% future.

28 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 29
29
 INDEPENDENT AUDITORS’ REPORT STATEMENTS OF FINANCIAL CONDITION
PAGLAUM MULTI-PURPOSE COOPERATIVE

December 31, December 31,

The Board of Directors and Members
Paglaum Multi-Purpose Cooperative Notes 2008 2007
Plaridel, Misamis Occidental
A S S E T S
We have audited the accompanying statements of financial condition of Paglaum Multi-Purpose Cooperative as of
December 31, 2008 and 2007, and the related statements of operation and cash flows for the years then ended, and a NON CURRENT ASSETS
summary of significant accounting policies and other explanatory notes. Property and equipment 2.3,3.1 P 15,635,976 P 13,738,775
Investments 2.4,3.2 2,616,269 1,013,468
Management’s responsibility
Other assets 3.3 3,291,211 3,565,685
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
Philippine Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining CURRENT ASSETS
internal control relevant to the preparation and fair presentation of financial statements that are free from material Cash on hand and in banks 28,460,736 10,363,004
misstatements, whether due to fraud or error; selecting and applying appropriate accounting policies; and making Receivables 2.5,3.4 121,705,903 74,941,348
accounting estimates that are reasonable in the circumstances.
Other current assets 2.6,2.7 2,043,922 1,007,666
Auditor’s responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits
in accordance with Philippine Standards on Auditing. Those standards require that we comply with ethical
P 173,754,018 P 104,629,946
requirements and plan to perform the audit to obtain reasonable assurance whether the financial statements are free
from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend upon the auditors’ judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making EQUITY AND LIABILITIES
those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation
of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating EQUITY
the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Share capital, authorized 6M shares at P10 par P 42,272,772 P 35,212,235
management, as well as evaluating the overall presentation of the financial statements. We believe that the audit Donations and grants 3.5 3,097,950 2,010,960
evidence that we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Statutory funds 3.6,4 9,297,190 2,939,359
Opinion
NON CURRENT LIABILITIES
In our opinion, the financial statements present fairly in all material respects, the financial position of Paglaum Multi- Long-term liabilities 3.7 18,376,025 10,787,553
Purpose Cooperative as of December 31, 2008 and 2007, and of its financial performance and its cash flows for the Other liabilities 3.8 17,621,499 10,496,440
years then ended in accordance with Philippine Financial Reporting Standards.

CURRENT LIABILITIES
PANGILINAN, MOLO & CO. By: Deposit liabilities 3.9 50,335,530 28,210,493
TIN No. 006-239-530 Accounts payable and accrued expenses 3.10 5,875,802 2,738,647
Interest on share capital and patronage 4 2,409,775 1,308,101
Current portion of long-term debts 3.7 24,467,475 10,926,158
ROGELITA J. MOLO
Partner
TIN No. 186-236-360
CPA License No. 96078
April 17, 2009 BOA Accreditation No. 0296 P 173,754,018 P 104,629,946
Cagayan de Oro City, Philippines PTR No. 0887043B / January 8, 2009
See Notes to Financial Statements.

30 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 3131

 STATEMENTS OF CASH FLOWS
STATEMENTS OF FINANCIAL OPERATIONS PAGLAUM MULTI-PURPOSE COOPERATIVE
PAGLAUM MULTI-PURPOSE COOPERATIVE
For the years ended December 31,
For the years ended December 31, Note 2008 2007
Note 2008 2007

INCOME 2.9 CASH FLOWS FROM OPERATING ACTIVITIES

Income from loans P 46,620,194 P 25,257,031 Net income 9,589,140 P 3,977,392
Gross profit on sales 1,591,138 1,335,103 Adjustments to reconcile net income to net cash
Other income 4,315,145 4,988,313 used in operating activities:
52,526,477 31,580,447 Depreciation 2.3,3.1 2,113,718 1,359,332
Changes in operating assets and liabilities
OPERATING EXPENSES 2.9 Increase (decrease) in:
Financing costs 2,829,535 1,321,670 Loan receivable 2.5,3.4 ( 46,764,555 )( 30,512,022 )
Personnel costs 20,886,836 12,679,149 Other current assets 2.6,2.7 ( 1,036,256 )( 287,523 )
Depreciation 2.3,3.1 3,244,542 2,291,771 Deposit liabilities 3.9 22,125,037 9,794,939
Transportation and travel 2,331,536 1,663,417 Accounts payable and accrued expenses 3.10 2,897,426 1,185,960
Provision for probable losses 2.5,3.4 2,763,591 1,332,053 Net Cash Used in Operating Activities ( 11,075,490 )( 14,481,922 )
Office and store supplies 1,526,830 1,098,333
Rent 1,630,295 951,913
Meetings and general assembly 1,524,025 808,398 CASH FLOWS FROM INVESTING ACTIVITIES
Light and water 917,410 668,286 Increase in investments 3.2 ( 1,602,802 )( 113,636 )
Ads, promotions and representation 757,666 637,406 Acquisition of property and equipment 3.1 ( 4,010,919 )( 4,418,347 )
Education and training 405,140 590,226 Increase in other assets 3.3 274,474 ( 2,106,648 )
Repairs and maintenance 680,714 570,230 Net Cash Used in Investing Activities ( 5,339,247 )( 6,638,631 )
Honoraria 150,700 438,491
Professional and legal fees 516,369 402,507
Postage and communication 653,740 383,129 CASH FLOWS FROM FINANCING ACTIVITIES
General support and social services 472,314 190,563 Increase in share capital 7,060,537 13,612,802
Members' benefit expense 295,483 178,520 Increase in donations and grants 3.5 1,086,990 131,010
Insurance and bonds 133,789 124,616 Proceeds from loans availments 3.7 21,129,789 5,849,958
Taxes and licenses 135,762 121,291 Payment of interest on share capital and patronage ( 1,295,611 )( 147,993 )
Miscellaneous 1,081,058 1,151,085 Increase in other liabilities 3.8 7,125,059 3,026,737
42,937,337 27,603,055 Decrease in statutory funds 3.6 ( 594,295 )( 317,618 )
Net Cash F-rovided From Financing Activities 34,512,469 22,154,895
NET INCOME 9,589,140 3,977,392
DISTRIBUTION OF NET INCOME 4 NET INCREASE IN CASH
Reserve (60%) 5,753,484 2,386,435 ON HAND AND IN BANKS 18,097,732 1,034,342
Education and training (5%) 479,457 198,870
Optional (P50,000 for community dev't fund) (10%) 958,914 397,739 BEGINNING CASH ON HAND AND IN BANKS 10,363,004 9,328,662
Interest on share capital and patronage (25%) 2,397,285 994,348
9,589,140 3,977,392
ENDING CASH ON HAND AND IN BANKS P 28,460,736 P 10,363,004
NET INCOME P - P -
See Notes to Financial Statements. See Notes to Financial Statements.

32 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 3333

 PAGLAUM MULTI-PURPOSE COOPERATIVE
PAGLAUM MULTI-PURPOSE COOPERATIVE STATEMENT OF FINANCIAL OPERATION PER BRANCH
PESOS Indicators FOR THE YEAR ENDED DECEMBER 31, 2008
2007 2008
PLARIDEL CALAMBA OROQUIETA DIPOLOG
STANDARD 2008 2007 SCORE SCORE

PORTFOLIO QUALITY INCOME

Portfolio at Risk ( Current Loans) 5 % or less 6.66% 3.30% 15 12 Income from loans 8,172,749 P 6,525,089 P 9,566,833 P 6,144,660
Management support - - - -
Allowance for probable losses Other income 1,074,263 910,402 1,016,936 712,968
over 1 year 100% 100% 100% 5 5 9,247,012 7,435,491 10,583,769 6,857,627
under 1 year 35% 100% 100% 5 5

OPERATING EXPENSES
Financial Costs
EFFICIENCY Interest on deposits liabilities 585,613 340,412 454,533 106,461
Asset Yield at least inflation rate (8%) 6.89% 4.64% 4 3 Interest expense on borrowings 546,258 307,832 533,757 101,237
Operational Self-Sufficiency > 100 % 109% 92% 0 3 Personnel Costs
Salaries and wages 1,518,800 1,645,218 1,403,870 1,550,208
Loan Portfolio Profitabilty More than 20% 47% 45% 4 4
Employees' benefits 572,728 257,836 634,882 469,028
Cost per peso loan P 0.10 per P 1.00 loan 0.45 0.49 0 0 SSS, Phil-Health, EC and HDMF 125,358 117,020 113,941 95,077
Administrative Efficiency 3 to 10 % 31% 26% 0 0 Provision for ees' retirement 165,303 207,467 256,750 92,053
Return on member's share >inflation 6% 4% 4 3 Other administrative Costs
Provision for probable loss 204,332 140,000 365,150 402,000
Depreciation and amortization 358,974 168,337 263,595 225,448
Rent 76,517 186,000 229,999 294,280
STABILITY Members benefit expense 60,965 67,880 - 35,219
Solvency At least 110 % 140% 108% 8 10 General support and social services 6,000 - 87,283 18,793
Office supplies 225,927 143,643 190,098 208,279
Liquidity Not less than 15% 44.87% 27.03% 10 10
Light and water 140,093 75,794 126,697 88,919
Net institutional capital At least 10% 5.59% 2.28% 2 6 Repairs and maintenance 81,967 81,706 61,158 88,166
Transportation and travel 246,783 195,321 166,698 109,780
Audit and professional fees 156,064 42,512 47,165 35,086
OPERATIONS Honoraria - - 4,100 -
Meetings and assembly 150,339 123,647 279,382 218,298
Trend in external borrowings decreasing toward 0 10% -4% 3 0 Ads, promotion and representation 102,971 19,454 28,526 5,367
Membership growth target 31% 63.79% 4 4 Trainings and seminars 48,288 34,271 42,422 67,884
Communications 155,093 28,142 41,692 60,459
Insurance and bonds 20,050 1,556 9,206 2,181
Taxes,licences and fees 3,273 23,580 4,165 11,049
STRUCTURE OF ASSETS Management support 1,312,629 997,081 1,413,960 677,065
Non-earning assets /total assets Not more than 5 % 30% 28% 0 0 Social Services 12,322 37,010 25,402 27,641
Total deposits/total assets 55% to 65% 29% 27% 0 0 ATM Expense - - - -
Net loans receivables/total assets 70% to 80% 70% 64% 1.5 1.5 Miscellaneous 115,832 28,712 119,640 120,055
6,992,480 5,270,430 6,904,067 5,110,034
Share Capital /Total Assests 35% to 45% 24% 34% 2 0

TOTAL 67.5 66.5 NET INCOME P 2,254,532 P 2,165,061 P 3,679,702 P 1,747,594

WEIGHT (80%) 54 53.2

34 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 3535

 PAGLAUM MULTI-PURPOSE COOPERATIVE PAGLAUM MULTI-PURPOSE COOPERATIVE
STATEMENT OF FINANCIAL OPERATION PER BRANCH STATEMENT OF FINANCIAL OPERATION PER BRANCH
FOR THE YEAR ENDED DECEMBER 31, 2008 FOR THE YEAR ENDED DECEMBER 31, 2008

PAGADIAN TUDELA OZAMIS SINDANGAN MOLAVE HEAD OFFICE TRAIN'G & DEV'T FLGC

INCOME INCOME
Income from loans P 2,767,399 P 5,992,708 P 3,923,822 P 2,591,462 Gross profit on sales P P P P 1,591,138
Management support - - - - Income from loans 935,471 -
Other income 396,574 660,631 480,742 353,977 Management support - 6,065,964 -
3,163,973 6,653,339 4,404,565 2,945,438 Other income 203,590 1,002,989 53,050 278,261
1,139,062 7,068,953 53,050 1,869,399
OPERATING EXPENSES
Financial Costs OPERATING EXPENSES
Interest on deposits liabilities 32,987 58,492 118,119 24,153 Financial Costs
Interest expense on borrowings 85,806 286,704 318,238 295,968 Interest on deposits liabilities 4,827 - -
Personnel Costs Interest expense on borrowings 47,512 1,332,852 77,011
Salaries and wages 1,098,030 957,995 821,026 830,454 Personnel Costs
Employees' benefits 185,144 368,983 458,674 197,139 Salaries and wages 331,077 3,952,813 33,172 387,984
SSS, Phil-Health, EC and HDMF 57,869 65,903 34,456 25,034 Employees' benefits 87,572 147,859 43,230
Provision for ees' retirement 188,442 136,516 165,115 94,840 SSS, Phil-Health, EC and HDMF 13,480 206,557 29,079
Other administrative Costs Provision for ees' retirement 26,040 344,027 37,742
Provision for probable loss 163,379 286,814 207,264 994,653 Staff development - 335,045 -
Depreciation and amortization 162,898 164,688 530,125 161,419 Other administrative Costs
Rent 189,000 83,000 390,000 91,500 Provision for probable loss - -
Members benefit expense 1,945 31,080 9,733 29,344 Depreciation and amortization 382,861 439,445 41,612 345,141
General support and social services 63,050 - - 3,750 Rent 90,000 - -
Office supplies 49,125 75,466 129,550 161,785 Members benefit expense 28,764 30,553 -
Light and water 51,044 83,018 116,567 43,195 General support and social services -
Repairs and maintenance 43,271 43,610 41,206 50,525 Office supplies 68,386 227,967 4,210 42,393
Transportation and travel 76,781 107,558 146,707 156,714 Light and water 28,722 63,368 5,907 94,087
Audit and professional fees 33,278 31,881 16,574 67,670 Repairs and maintenance 13,104 141,956 34,046
Transportation and travel 57,433 562,108 16 505,638
Meetings and assembly 154,608 135,354 111,002 90,808 Audit and professional fees 35,471 45,043 5,625
Ads, promotion and representation 40,333 16,895 6,895 94,020 Honoraria - 135,600 11,000
Trainings and seminars 52,915 27,293 30,025 78,724 Meetings and assembly 17,615 234,952 8,020
Communications 32,928 18,540 27,907 44,139 Ads, promotion and representation 22,524 327,677 450 92,554
Insurance and bonds - 3,371 8,477 3,102 Trainings and seminars 19,116 - 4,202 -
Taxes,licences and fees 15,273 9,327 48,850 8,615 Communications 18,469 208,368 18,002
Management support 240,712 656,593 353,964 216,457 Insurance and bonds - 43,837 42,009
Social Services 9,666 14,583 7,848 34,692 Taxes,licences and fees 1,093 4,795 5,744
Miscellaneous 32,169 144,281 49,770 115,523 Management support 56,335 - 141,168
3,060,652 3,807,943 4,148,094 3,914,224 Social Services - 105,705 18,568
Miscellaneous 22,500 309,333 1,500 21,742
1,372,900 9,199,862 91,070 1,960,783
NET INCOME (LOSS) P 103,321 P 2,845,396 P 256,470 (P 968,785 )

NET INCOME (LOSS) (P 233,839) (P 2,130,908) (P (38,020) (P 91,385 )

36 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 3737


PAGLAUM MULTI-PURPOSE COOPERATIVE
STATEMENTS OF GROSS PROFIT ON SALES
For the years ended December 31, 2008
NOTES TO FINANCIAL STATEMENTS
PAGLAUM MULTI-PURPOSE COOPERATIVE
DECEMBER 31, 2008 AND 2007
1. ORGANIZATION AND TAX EXEMPTION
The Paglaum Multi-Purpose Cooperative was registered with Cooperative Development Authority (CDA) under
Registration No. CGY – 976 on July 30, 1992 in accordance with the provisions of R. A. 6938 and 6939 otherwise
known as the Cooperative Code of the Philippines, which provides for exemptions from income and other taxes under
certain conditions.
2007 In accordance with the Code, the Cooperative is exempted for ten years from the payment of all national, city, and
provincial, municipal or barangay taxes of whatever name and nature, including exemptions from customs duties,
advances sales or compensating taxes on its importation of machineries, equipment and spare parts which are not
available locally as certified by the Department of Trade and Industry. The exemptions, however, are subject to the
following restrictions:

Sales P 13,375,181 P 13,935,547 a) The Cooperative shall enjoy tax exemptions from government taxes or fees imposed under internal revenue laws
provided that the Cooperative does not transact business with non-members or the general public.

b) The Cooperative, if transacting business with non-members or the general public may be exempted from tax if the
accumulated reserves and undivided net savings of the Cooperative do not exceed P 10 million.

The cooperative’s area of operation covers the whole Northwestern Mindanao covering the provinces of Misamis
Occidental, Misamis Oriental, Zamboanga del Norte, Zamboanga del Sur, Zamboanga Sibugay and Lanao del Norte.
Its principal office is located at Plaridel, Misamis Occidental. It has branches in Oroquieta, Calamba, Dipolog, Tudela,
Cost of Sales: Pagadian, Ozamis and Sindangan.
Inventory, beginning 195,786 116,508
Purchases (net of returns) 12,215,448 11,995,536
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Freight In 8,580 4,030
Milling expenses 377,985 463,179 2.1 Basis of Preparation. The Cooperative’s financial statements have been prepared in conformity with Philippine
accounting standards and reporting practices of Cooperatives in the Philippines, and under the historical cost
Labor 281,948 216,976
convention.

2.2 Use of Estimates. The preparation of financial statements in conformity with Philippine Accounting Standards requires
the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial
Total goods available statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates
for sale 13,079,746 12,796,230 are based on management’s best knowledge of current events and actions, actual results ultimately may differ from
Inventory, ending 1,295,703 195,786 those estimates.

2.3 Property and Equipment. Property and equipment are carried at cost less accumulated depreciation. The cost of
maintenance and repairs is charged to expense as incurred, significant renewals or betterments are capitalized. When
assets are retired or otherwise disposed of, the cost and the related accumulated depreciation are removed from the
accounts and any resulting gain or loss is reflected in the statement of operation as other income or loss for the period.
11,784,043 12,600,444
Depreciation is computed on a straight-line method over the estimated useful lives of the properties as follows:
Classification Estimated Useful Life
Building and improvements 5-50 years
Office furnitures, fixtures and equipments 1-5 years
Transportation equipments 5 years

GROSS PROFIT ON SALES P 1,591,138 P 1,335,103

Notes to FS Page 1 of 5

38 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 39
39
 2.4 Investments. The Cooperative carries its investments under the cost method. Dividends are recognized as income 3.2 Investments. The Cooperative invested in the following:
when received from the net accumulated earnings of the investee from the date of acquisition. When there is a 2008 2007
significant or apparently permanent decline in value of the investments as indicated by series of operating losses of the Cooperative Rural Bank of Oroquieta P 305,000 P 305,000
investee or other factors, the carrying amount of the investment is written down to its fair value. MASS-SPECC Cooperative Development Center 654,970 514,152
Coop Life Insurance Mutual Services (CLIMBS) Association 184,367 97,295
2.5 Loans Receivable. Loans receivable are stated at outstanding balance reduced by allowance for probable losses. SEED Finance Corporation 525,000 -
Allowance for probable losses is the estimated amount of losses from loans using portfolio at risk computation. Past PACAP project 150,000 -
due over one year is provided 100% and 35% on past due below one year. The appropriate officers of the Cooperative PhilamLife 485,656 -
review loan portfolio regularly. Other business 165,000 -
Others 146,276 97,021
2.6 Prepayments. Payments made in the current year that benefited or can be used in future periods as prepayment
amortized over the period benefited. P 2,616,269 P 1,013,468

2.7 Inventories. Merchandise and unused supplies inventories are stated at lower of cost or market.
3.3 Other Assets. This account comprises the following:
2.8 Retirement fund. The Cooperative has not established a formal retirement fund. However, it accrues the estimated Construction in progress P - P 1,115,888
cost of retirement due to qualified employees. It is determined using a simple mathematical computation to comply with Other funds and deposits 400,498 400,498
the Republic Act 7641 (Retirement Law). Due from WI-MAX 1,681,264 1,652,628
Refundable deposit 180,500 96,500
2.9 Revenue and Expense Recognition. Revenue and expenses are generally recognized under the accrual basis of Due from western union transactions 709,509 285,364
accounting. However, interests on loans are recognized as income when earned and collected. The Cooperative has Others 319,440 14,807
applied this consistently in previous years.
P 3,291,211 P 3,565,685
2.10 Impairment in Assets. The need to recognize any impairment loss is assessed by comparison of the carrying value of
the asset against the higher of net selling price and value in use.
3.4 Receivables. This account consists of the following:
Loans receivable P 122,192,348 P 69,178,201
2.11 Provisions. A provision is recognized when the Cooperative has a present obligation (legal or constructive) as a result
Less: allowance for probable losses 5,148,295 2,516,166
of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the
Net realizable value 117,044,053 66,662,035
obligation and a reliable estimate can be made of the amount of the obligation.
Add: Other receivables 4,661,850 8,279,313

P 121,705,903 P 74,941,348
3. COMPOSITION AND BRIEF DESCRIPTION OF VARIOUS FINANCIAL STATEMENTS CAPTIONS
3.5 Donations and Grants. This account consists of the following:

3.1 Property and Equipment. This account is composed of the following: COOP-NATCCO P 1,500,000 P 500,000
Department of Agriculture 319,750 319,750
Balances Transactions during the year Balances Office of the Governor of Misamis Occidental – Hon. L. Ocampo 315,000 315,000
Description 01/01/2008 12/31/2008 Cooperative Development Authority 212,500 212,500
Additions Disposal Countryside Development Fund of Cong. Cresente Paez 150,000 150,000
Warehouse and Drier P 4,575,946 - - P 4,575,946 Kindernothilfe E.V. – Lingap Pangkabataan, Inc. 90,200 90,200
Land and Improvements 1,011,374 169,541 - 1,180,915 Joint Development Ventures for Peace and Progress Foundation 80,000 80,000
Building and Improvement 3,659,467 444,323 - 4,103,790 Countryside Development Fund of Senator Franklin Drilon 50,000 50,000
Furnitures and Equipment 6,205,856 2,900,690 - 9,106,546 Philippine Business for Social Progress 20,000 20,000
Transport Equipment 4,462,552 502,294 - 4,964,846 MASS-SPECC Cooperative Development Center 20,000 20,000
Others 60,440 - 5,929 54,511 Others 340,500 253,510
Total Cost 19,975,635 4,016,848 5,929 23,986,554
Total accumulated depreciation 6,236,860 2,113,718 - 8,350,578 P 3,097,950 P 2,010,960

Net Book Value P 13,738,775 1,903,130 (5,929) P 15,635,976

Depreciation expenses for the years ended December 31, 2008 and 2007 are P2,113,718 and P1,358,999,
respectively.

Notes to FS Page 2 of 5 Notes to FS Page 3 of 5

40 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 4141

 3.6 Statutory Funds. This account consists of the following: 4. ALLOCATION OF NET INCOME
Balances Transactions during the year Balances
Fund 01/01/2008 Adjustments NS Distributions 12/31/2008 The Cooperative’s constitution and by-laws explicitly provides that its net savings at the end of the fiscal year shall be
distributed in the following manner:
Reserve fund P 2,387,668 (358,584) 5,753,484 7,782,568
a) At least ten percent (10%) of net savings shall be set aside as General Reserve Fund. The general reserve fund
Education and training fund 129,373 (67,974) 239,728 301,127
is created and shall be provided for the stability of the Cooperative and to absorb losses, if any in its business
Optional fund 422,318 (167,737) 958,914 1,213,495
operations.
TOTAL P 2,939,359 (594,295) 6,952,126 P 9,297,190
b) Ten percent (10%) of net savings shall be set-aside for Cooperative Education and Training Fund. One half (1/2)
of this amount shall be utilized by the Cooperative for its own education and training activities. The other half shall
3.7 Long-term Liabilities. This account consists of the following: be remitted to the apex organization of which member the Cooperative is a member.
Quedan and Rural Credit Guarantee Corporation (QUEDANCOR) P 625,000 P 1,875,000 c) Ten percent (10%) of net savings shall be set aside for other reserve fund (Optional Fund for Equipment fund).
People’s Credit and Finance Corporation (PCFC) 9,405,958 6,015,228
National Food Authority (NFA) 1,927,864 2,103,125 d) The remaining net savings shall be allocated for the interest on share capital and patronage refund computed in
United Coconut Planters Bank (UCPB-CIIF) 10,275,617 4,000,000 accordance with the Rule 4 of the Cooperative Code of the Philippines.
MASS-SPECC Cooperative Development Center 5,333,333 1,763,977
Small Economic Activity Development (SEAD)/LPI 1,347,826 3,739,130 However, the Cooperative’s board of directors in its 2009 board meeting resolved that the allocation for general reserve
Land Bank of the Philippines (LBP) 3,060,037 2,217,251 fund and cooperative education and training fund in 2008 would be 60% and 5%, respectively of the net income.
National Livelihood Support Fund 8,831,282 -
Small Business Guarantee and Finance Corporation 1,500,000 -
KIVA 536,583 - 5. RELATED PARTY TRANSACTIONS
Total 42,843,500 21,713,711
Less current portion (see Current Liabilities Caption of the SFC) 24,467,475 10,926,158 The Cooperative extended loans to members of the board, officers and staff with the same terms and conditions
offered to members.
Total P 18,376,025 P 10,787,553

These loans bear interest rates ranging from 0% to 16% per annum and are payable from two to twenty years. 6. OTHER MATTERS

3.8 Other Liabilities. This account is composed of the following:  Certain accounts in the year 2007 financial statements have been reclassified and re-arranged to conform to the
year 2008 financial statement presentation.
Mutual aid fund reserve P 6,956,424 P 2,476,684
Mutual aid fund 6,871,464 5,809,013  The Cooperative’s financial statements have been approved for release by the General Manager on April 8, 2009.
Retirement fund 3,793,612 2.210,743

P 17,621,499 P 10,496,440

3.9 Deposit Liabilities. This account represents deposits made by members and customers of the Cooperative in form of
either deposits or regular savings deposits. The Cooperative gives interest to these deposits at rates higher than
market rates.

3.10 Accounts payable and accrued expenses. This account consists of the following:
2008 2007

Other accounts payable P 2,820,701 P 1,472,493

Insurance payable 2,015,370 759,509
Accrued interest payable 635,929 347,486
Due to CETF – Apex 367,920 128,232
Unearned interest income 35,729 21,052
Other accrued expenses 153 9,875

P 5,875,802 P 2,738,647

Notes to FS Page 4 of 5 Notes to FS Page 5 of 5

42 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 4343



44

D. FIRST PRIZE:
A. Plaque of Recognition

C. PLAQUE OF APPRECIATION
Misamis Occidental, Philippines.

(Switch Transactions)
MICMA AWARDEE
SEEDFinance investment generation drive.
2008 AWARDS

B. CERTIFICATE OF RECOGNITION

Given this 26th day of October 2008 at Clarin, Misamis Occidental.

investment realized Nov 28, 2008 (via cash deposit),

E. FIRST PRIZE: Laptop Computer for a PhP525,000
and CITATIONS

PAGLAUM
during its General Assembly last May 1-3, 2009
Given on September 20, 2002 at the Provincial Function Hall, Oroquieta City.

November 20-21, 2008 at Sabin Resort Hotel, Ormoc City, Leyte.

2 0 0 8
from both local and national levels, thereby making the Municipality of Plaridel

development and progress, thus worthy to be honored as GARBO SA PLARIDEL.

truly proud as it has greatly contributed to the municipality’s journey towards

“Ugnayan 2008” activity held at the municipality of Clarin, Misamis Occidental.

Outstanding performance as ZMCN member and for the active participation in
best performing cooperative which has gained consistent recognition and awards
Given to PAGLAUM COMMUNITY DEV’T FOUNDATION INC. & PAGLAUM MULTI-PURPOSE
COOPERATIVE for the exemplary performance and achievements as the municipality’s

Given by MASS-SPECC Cooperative Development Center

Micro-No-More Photoshoot a celebration in

celebration of town fiesta of Plaridel, Misamis Occidental

Street Dancing Contest in 2008 Langaranan Festival during the
F. 2nd Runner Up AND Best in Costumes

best performing pinoy coop atm

Cooperative 2007. Given on the 26th day of October, 2008 @ Clarin,

g. coop connectivity pioneering award

Given by CLIMBS, during its 37th Annual General Assembly last May 15, 2009
5th Place Category B
h. Valued Client – Member Award

A N N U A L
pixels of the empowering ripples of MSME finance (an Amateur Digital Photography

SMEs.) Given during the 2008 SEEDFINANCE National Stakeholders Conference last
Contest featuring the heart of the movement – the micro-entrepreneurs and the
Category) in the Landbank Branch-Search for the Outstanding Bank –Assisted
Outstanding Cooperative of Landbank of the Philippines, Oroquieta Branch (Agri

R E P O R T
PROJECTED INCOME STATEMENT - COOP-FICS
PAGLAUM MULTI-PURPOSE
BUDGET FORCOOPERATIVE
2009

2 0 0 8
PROJECTED 2009 INCOME STATEMENT

PLARIDEL OROQUIETA CALAMBA TUDELA DIPOLOG PAGADIAN OZAMIZ SINDANGAN MOLAVE HEAD OFFICE ELIMINATION TOTAL
Interest Income on Loans 8,968,000.00 10,290,610.57 6,575,000.00 5,949,000.00 7,168,908.00 4,788,451.12 5,920,027.06 2,862,420.76 2,304,000.00 54,826,417.51
Interest on Bank deposits 13,000.00 4,438.88 6,000.00 6,000.00 6,800.00 2,536.50 3,700.00 6,000.00 48,475.38
Service Fee 2,000,000.00 2,743,440.00 1,645,000.00 1,665,000.00 1,680,800.00 120,000.00 1,356,000.00 806,400.00 600,000.00 13,391.28 12,630,031.28
Fines/Penalties/Surcharges 60,000.00 72,000.00 140,000.00 46,300.00 36,000.00 24,000.00 195,000.00 573,300.00
Income / Interest from Investment 60,000.00 126,000.00 18,000.00 300,000.00 (504,000.00) -

A N N U A L
Membership Fee 50,000.00 120,000.00 140,000.00 120,000.00 93,000.00 75,000.00 113,400.00 47,400.00 60,000.00 818,800.00
Commission 130,000.00 264,000.00 190,500.00 300,000.00 27,000.00 69,966.00 120,000.00 30,000.00 1,131,466.00
Notarial Fee 300,000.00 360,000.00 295,000.00 240,000.00 198,000.00 168,000.00 120,000.00 150,000.00 1,831,000.00
Registration Fee 20,000.00 120,000.00 25,026.00 42,000.00 32,400.00 57,600.00 18,000.00 120,000.00 435,026.00
Miscellaneous Income 451,885.29 239,999.99 535,302.45 60,000.00 252,972.76 16,986.81 36,000.00 120,000.00 204,000.00 360,000.00 2,277,147.30
Management Fee 11,314,035.56 (11,314,035.49) 0.07
GROSS INCOME 12,052,885.29 14,214,489.44 9,671,828.45 8,428,300.00 9,213,680.76 5,263,837.93 7,763,793.06 4,120,757.26 3,666,700.00 11,993,426.84 (11,818,035.49) 74,571,663.54
R E P O R T

EXPENSES:
Interest Expense on Deposits 550,000.00 570,712.64 365,000.00 24,000.00 240,000.00 179,988.00 324,000.00 68,429.71 68,000.00 (504,000.00) 1,886,130.35
Int. Exp on Borrow 400,000.00 477,513.80 420,000.00 360,000.00 240,000.00 213,000.00 115,631.44 87,000.00 1,328,767.92 3,641,913.16
Other Charges on Borrowings 246,732.84 246,732.84
TOTAL 950,000.00 1,048,226.44 365,000.00 444,000.00 600,000.00 419,988.00 537,000.00 184,061.15 155,000.00 1,575,500.76 (504,000.00) 5,774,776.35
INCOME AFTER FINANCIAL COST 11,102,885.29 13,166,263.00 9,306,828.45 7,984,300.00 8,613,680.76 4,843,849.93 7,226,793.06 3,936,696.11 3,511,700.00 10,417,926.08 (11,314,035.49) 68,796,887.19
Salaries & Wages- Staff 2,300,000.00 1,800,000.00 2,050,000.00 1,170,000.00 1,876,704.00 1,540,662.38 1,397,667.24 1,020,820.28 966,795.33 4,904,916.00 19,027,565.23
13th month 320,000.00 286,892.00 143,450.85 408,744.00 1,159,086.85
Bonus 112,866.93 128,000.00 240,866.93
Employees Benefit 400,000.00 360,000.00 267,500.00 350,000.00 450,000.00 189,816.41 194,640.00 180,000.00 96,000.00 170,400.00 2,658,356.41
PAGLAUM

Retirement Benefit Exp. 180,000.00 360,000.00 225,226.00 120,000.00 221,388.00 91,343.59 188,320.07 36,000.00 103,812.00 408,743.04 1,934,832.70
SSS/ ECC/ Philhealth/ Pag-ibig Cont. 125,000.00 120,000.00 135,000.00 84,000.00 96,096.00 69,632.60 112,881.30 60,000.00 86,880.00 476,368.20 1,365,858.10
Officer's honorarium and allowances 10,000.00 280,800.00 290,800.00
Office Supplies 295,000.00 180,000.00 144,000.00 84,000.00 204,000.00 54,000.00 144,000.00 134,120.90 60,000.00 248,350.92 1,547,471.82
Power, Light & Water 160,000.00 144,000.00 82,000.00 96,000.00 108,000.00 54,600.00 156,000.00 72,000.00 42,000.00 69,630.48 984,230.48
Travel & Tranportation 65,000.00 42,000.00 15,000.00 12,000.00 24,000.00 120,000.00 9,600.00 134,244.00 109,000.00 360,000.00 890,844.00
Repair & Maintenance 75,000.00 120,000.00 92,000.00 18,000.00 84,000.00 60,000.00 48,000.00 48,000.00 44,400.00 180,000.00 769,400.00
Rental 77,000.00 462,000.00 240,000.00 84,000.00 345,240.00 198,450.00 459,000.00 150,000.00 120,000.00 2,135,690.00
Communication 40,000.00 45,600.00 30,000.00 24,000.00 72,000.00 33,000.00 50,400.00 48,000.00 24,000.00 300,000.00 667,000.00
Fuel & Lubricants 180,000.00 180,000.00 190,000.00 120,000.00 120,000.00 91,398.48 162,000.00 96,000.00 48,000.00 444,945.12 1,632,343.60
Members Ben Exp 61,000.00 52,000.00 12,000.00 60,000.00 18,000.00 53,000.00 18,000.00 33,607.80 307,607.80
General Assembly Expenses 135,000.00 150,000.00 145,000.00 90,000.00 180,000.00 150,000.00 70,000.00 50,000.00 50,000.00 45,000.00 1,065,000.00
Meetings & Conferences 20,000.00 147,000.00 14,000.00 30,000.00 102,000.00 72,000.00 60,000.00 26,000.00 274,742.64 745,742.64
Promotional Expenses 60,000.00 24,000.00 25,000.00 9,600.00 12,000.00 66,600.00 30,000.00 24,000.00 18,000.00 240,000.00 509,200.00
Representation 3,000.00 2,500.00 15,000.00 234,338.52 254,838.52
Insurance and bonding 13,000.00 11,800.00 1,500.00 6,000.00 15,000.00 6,000.00 6,000.00 52,604.88 111,904.88
Bank Charge 3,500.00 2,000.00 2,400.00 6,000.00 4,800.00 1,200.00 1,200.00 6,000.00 27,100.00
Affiliation Expense 47,000.00 47,000.00
Taxes, Licenses & Fees 3,300.00 5,000.00 25,000.00 3,900.00 14,000.00 14,487.00 48,000.00 12,000.00 13,000.00 6,000.00 144,687.00
Retainer's Fee 30,000.00 36,000.00 30,000.00 18,000.00 12,000.00 30,000.00 36,000.00 192,000.00
Professional/Legal/Audit Fees 125,000.00 30,000.00 15,000.00 33,000.00 60,000.00 12,000.00 72,000.00 12,000.00 60,000.00 419,000.00
Medical Ex 120,000.00 360,000.00 480,000.00
Trainings,Seminars & Conferences 50,000.00 60,000.00 35,000.00 30,000.00 120,000.00 180,000.00 84,000.00 48,000.00 36,000.00 463,000.00 1,106,000.00
Depreciation & Amortization 400,000.00 420,000.00 195,000.00 156,000.00 240,000.00 194,430.32 600,000.00 180,000.00 660,000.00 686,477.52 3,731,907.84
Community Development Expenses 15,000.00 60,000.00 40,500.00 26,000.00 18,000.00 6,000.00 124,366.44 289,866.44
General Support Services 12,000.00 100,000.00 30,000.00 84,000.00 3,600.00 229,600.00
Provision for Probable Losses 300,000.00 468,000.00 120,000.00 240,000.00 240,000.00 240,000.00 600,000.00 360,000.00 120,000.00 2,688,000.00
Collection Expense 3,000.00 8,300.00 2,400.00 13,700.00
Blessing & Inauguration 25,000.00 25,000.00
Miscellaneous Expense 250,276.50 144,000.00 24,000.00 126,000.00 120,000.00 57,999.94 48,000.00 60,000.00 55,200.00 300,000.00 1,185,476.44
TOTAL OPERATING EXPENSES 5,406,076.50 5,919,400.00 4,205,526.00 2,944,900.00 5,084,320.00 3,496,420.72 4,649,175.54 3,105,836.03 2,752,287.33 11,314,035.56 - 48,877,977.68
INCOME BEFORE MANAGEMENT EXP 5,696,808.79 7,246,863.00 5,101,302.45 5,039,400.00 3,529,360.76 1,347,429.21 2,577,617.52 830,860.08 759,412.67 (896,109.48) (11,314,035.49) 19,918,909.51
4545

Management Expense 2,196,808.29 2,251,351.57 1,513,302.45 1,289,398.82 1,226,084.76 652,878.19 928,189.88 805,045.86 450,975.67 (11,314,035.49) -
NET INCOME 3,500,000.50 4,995,511.43 3,588,000.00 3,750,001.18 2,303,276.00 694,551.02 1,649,427.64 25,814.22 308,437.00 (896,109.48) - 19,918,909.51

Prepared by: Audited by: Recommended by: Approved by:

MILA N. BARCELONA JEFFERSON L. MAGSALAY ARNOLD M. PARCUTILO GADWIN E. HANDUMON

 Celebrating our Partnership

Paglaum ATM now

fully-operational
T he Automated Teller Machine (ATM) is not new in the market. But
for rural communities such as the Municipality of Plaridel, it has
brought a lot of convenience to its members who are mostly micro-
entrepreneurs.

Before the introduction of Pinoy Coop ATM in Plaridel, many Paglaum members
thought that owning an ATM account is only for the salaried workers and the affluent
people. Since its establishment more than a year ago, many Paglaum members opened
ATM cards for the first time. PAGLAUM was born out of partnership.
PAGLAUM was nurtured through partnership.
The ATM helps expedite withdrawal transactions with minimal fees. Access to the
ATM is 24/7. This means that members can withdraw funds even during weekends and And, PAGLAUM’s success was made possible
holidays. Those that have children studying in the cities can send money directly through through its strong collaboration
their ATM accounts. This is more affordable compared to the remittance service providers
that proliferate in every municipality. Above all, this is uniquely Paglaum. Paglaum
with its various partners.
pioneered coop ATM in Northwestern Mindanao.
Paglaum recognizes that its steadfast growth is largely because of its valuable partners.
The best thing about this service is that Paglaum’s ATM is interconnected with the These partners honed the organization into what it is now today. They have either
Megalink, Express Net, and Bancnet networks. In other words, the ATM cardholder of any provided capacity building or financing support. As Paglaum reaches-out to more
of the networks mentioned can also make use of the ATM installed in Plaridel. In the same communities, it is grateful to the partnership that was developed. And, as Paglaum
manner, the coop member can withdraw funds from other banks’ ATMs nationwide. celebrates its success, it also celebrates the partnership it has with various organizations.

For only P200, the member may be able to open an account. The ATM service facility To all those that have guided and nourished Paglaum Foundation and Cooperative into
of Paglaum to the municipality of Plaridel has indeed brought new and innovative ways to
becoming mature and credible organizations, our sincerest gratitude to all of you
serve its members.

46 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 4747

 Trainings Attended by Board, Management, & Staff for 2008
LOCAL, REGIONAL, NATIONAL TRAININGS
DATE TRAINING TITLE VENUE
Jan 8-10 Regional Training of Trainers on Financial Literacy West End Court Inn Echavez St. Dipolog City
Jan 18-19 MMC Planning Session Dakak Beach Resort, Dapitan City
Jan 16 Corn and Palay Trading Clarin, Misamis Occidental
Jan 25 Orientation/Meeting of ATM Operations MASS-SPECC, Cagayan de Oro City
Feb 1 1st Human Resource Manager’s Forum Bahay Alumni, Brokenshire College, Davao City
Feb 1 Customer Relationship Management Tangub City Functon Hall, Tangub City
Feb 23 Understanding Financial Statements MASS-SPECC Training Center, Cagayan de Oro City
Feb 29 - Mar 1 Mentoring & Coaching Skills: an Essential Skills in Leadership” Chali Beach Resort & Conference Center, CDO City
Feb 19 Tax Information Update for Cooperative Johann’s Cuisine, Lam-an, Ozamis City
Feb 25 Workshop on TAG3 Technical Assistance Rhovic’s Place, Oroquieta City
Apr 23-25 48th Annual General Assembly & Educational Forum Dakak Park & Beach Resort, Dapitan City
Apr 21-22 Credit Union Microfinance and Business Planning Philtown Hotel, Cagayan De Oro City
Apr 17-18
Apr 19
MIS Regional Consultation and 4th ANNUAL GENERAL MEETING
Cash Flow Lending for Credit Committee
Waterfront Insular Hotel, Davao City
Naomi’s Botanical Garden, Bañadero, Ozamis City LABORATORY COOPERATIVE
May 30
Jun 11
Design & Implementation of an Energy Efficient
Program Evaluation of the Adopt a Town
Grand Meng Seng Hotel, Davao City
Paglaum Training Center, Plaridel, Misamis Occidental Empowering the Youth, Building
Jul 21-23
Jul 26-27
Credit/Background Investigation & Appraisal
System Audit Seminar Workshop
Marco Hotel, Cagayan De Oro City
MASS-SPECC Training Center, Cagayan De Oro City Strong Future Coop Leaders
Jul 24-25 MCPI Conference Asian Dev’t Bank in Ortigas Center, Pasig City
Jul 7-16 Hands on Training for Coop Franchisees NATCCO Main Office, Quezon City The youth’s potential to lead is tremendous. We have witnessed
Jul 21 Symposium on Federalism; The Key to Rural Development Naomi’s Botanical Garden, Ozamis City this when Paglaum MPC conducted a Federation Building and
CUCEOCCC Mergrande Ocean Resort, Davao City Leadership Training for the youth officers on August 8. Paglaum’s
Micro insurance program for the professionals Tranca Bay, Laguna objective is to sustain the Laboratory Cooperative. The lab coop will
Jul 31 Challenges and opportunities in financing rural household electrification Cagayan de Oro City be a venue for shaping future coop leaders. There is going to be a
Jul 30 COOP SUMMIT ABC Hall, Plaridel, Misamis Occidental failure in the sustainability of the cooperative if the children and youth
Aug 5 Alliance Building Orientation & Workshop Libertad, Sinacaban, Misamis Occidental
of today will not be molded in the spirit of cooperativism. Hence,
Jul 30 LCDFI Training of Micro-Enterprise Oroquieta City
Paglaum seriously involves the children and youth in the cooperative.
Aug 13-15 Seminar-Workshop on Risk-Based SME Lending We R Inn Hotel, Davao City
Oct 23-25 Community Development & Leadership Training for Community Leaders Tatong’s Beach Resort, Oroquieta City
They are recognized as the future of Paglaum.
Oct 16-17 Training of Trainers Butuan City
Oct 25 MASS-SPECC Laboratory Cooperative Seminar MASS-SPECC, Cagayan de Oro City Paglaum’s future plan is to seek partnership/linkages with the
Nov 11-13 Business Counseling Seminar GODECOST Center, Dipolog City youths of the other coops and federations such as MASS-SPECC. It
Nov 17-18 Trainers Training on Gender & Development & Family Enrichment Program MASS-SPECC, Davao City will give the youth of Paglaum their much-needed exposure. With high
Nov 29 Loan Restructuring Seminar MASS-SPECC, Cagayan de Oro City hopes, these young leaders will be empowered through the savings
and leadership/governance programs.

INTERNATIONAL TRAININGS
DATE TRAINING TITLE VENUE
Mar 31- Apr 11 Academy for Micro-Finance Development in Asia Discovery Kartika Hotel, Bali, Indonesia
Jun 13-18 Credit Union Chief Executive Competency Course Bangkok, Thailand

48 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 4949

 Congratu l ati o n s !
Paglaum Multi-Purpose Cooperative

JUDGE FELIPE G. ZAPATOS

(Retired RTC Judge, Br. 35, Ozamiz City)
Private Law Practitioner and Notary Public

Member:
• Gregorio O. Calit Memorial Lodge No. 154, Oroquieta City
• Palilan Lodge No. 239, Jimenez, Mis. Occ.
• Oroquieta bodies, A & A. S. R.
• Filipinas Shrine Club, Aloha Temple Hawaii
• Board of Director & Vice Chairman LTMPC, Tangub City

OFFICE
Medina Gym, Don Anselmo Bernad Avenue, Ozamiz City
Tel. # (088)521-4852 / Cell#: 0920-921-2253 GLOBE # 0917-7220200
Residence: Purok 5, Bañedero, Ozamiz City

50 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 5151

52 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 5353
 NILO M. BANTILAN ROLAND D. CADAVAS
Business Head Area Sales Head
Visayas & Mindanao SME - Mindanao
Small & Medium Enterprise Group 09209197525
Philippine Long Distance Telephone
0918-9177483
ROBERTO W. SUZON
Account Officer
SME - Mindanao
09209826126

Connectivity, Broadbanding, and Beyond.

Welcome to NationBanding.

Call us at 101888 0r 171.

Log on to www.pldtsme-nation.com.ph

54 PAGLAUM 2 0 0 8 A N N U A L R E P O R T 2 0 0 8 A N N U A L R E P O R T PAGLAUM 5555

 Rolando Manuel C. Ty
Proprietor

GAMALINDA
MEMORIAL HOMES
Sophie descallar gamalinda
Proprietor

OFFICES
Ozamiz City, Tel. (088) 521-0374 | Oroquieta City, Tel. (088) 531-1115 | Jimenez, Mis. Occ.

Mortuaries of the following:

Pacific Plans, Inc. * Pet Plans, Inc * Provident Plans, Inc * Loyola Life Plan, Inc.
Prudential Life Plan, Inc * Philam Plans, Inc * Consolidated Plans, Inc * Eternal Life Plan, Inc
Phil Asia Care, Inc * Holy Trinity Plan, Inc * BAFci (brotherhood assistance future concern, inc)
Paglaum Multi Purpose Vooperative

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 Greetings from: Greetings from:

RONELL’S LANDBANK
TAILOR PHILIPPINES
OF THE

No. 1 in Original King of Barong Head Office

Also accept Dry Cleaning / Laundry 1598 Marcelo H. del Pilar corner Dr. J. Quintos Sts.
Malate, Malate, Manila
Roger Digal - Proprietor / Master Cutter Tel. Nos. (02) 522-0000; 551-2200; 450-7001
Malvar St., cor. Quezon Ave., Dipolog City Phonebanking (02) 405-7000
Tel. No. 212-8620
Pagadian Branch
Cabato Building, Jamisola St.,
Pagadian City, Zamboanga del Sur

First Dew
Tel. Nos. (062) 214-1405; 214-2265; 214-1591
Fax No. (062) 215-2344

Reverse Osmosis Purified Drinking Water

www.landbank.com
Enerio St., Oroquieta City Member of the PDIC
Tel. No. 531-1695 Maximum deposit insurance for each depositor P250,000.00

Greetings from:

Tel. No. (088) 344-8628

Contact Persons: Bernie, Elvie or Jake
Proprietor: Sammy Chua

Offers Quality Clean Ice, Suitable for Fish and Poultry Products
BRANCHES: Tabok, Mandaue City * Eastern Looc, Plaridel, Mis. Occ. * Brgy. Kanyuko, Dumanjug, Cebu

Greetings from: CORPORATE OFFICE

Quezon Avenue, Miputak,
MAIN OFFICE
Quezon Avenue, Miputak,
BRANCH OFFICES
KATIPUNAN BRANCH
MICRO-FINANCE OFFICES
1. Katipunan, Zamboanga del Norte
Dipolog City, Zanorte Dipolog City, Zanorte Poblacion, Katipunan, Zanorte 2.Sindangan, Zamboanga del Norte

KATIPUNAN
Telefax No. (065) 212-9109/ Telefax No. (065)212-6658/ Telefax No.(065)212-9589 3. Ipil,Zamboanga Sibugay
212-7647/212-9807 212-7648 Mobile No.0918-914-1301 4. Pagadian City, Zamboanga del Sur
Mobile No.0918-918-4435/ Mobile No. 0920-283-3702 CARCAR BRANCH 5. Oroquieta City, Misamis Occidental
0928-504-1444 San Vicente St., Pob. Carcar Cebu 6. Tagbilaran City, Bohol

BANK (ZN),
GRANTS: ACCEPTS: Telefax No.(032)487-9997/ 7. Lahug,Cebu City
- Agricultural Loans - Savings Deposit LILO-AN BRANCH 8. Ramos, Cebu City
- Commercial Loans - Time Deposit Poblacion, Lilo-an, Cebu 9. Talisay City, Cebu
- Industrial Loans - Current Account Deposit Telefax No.(032)424-8099 10. Lapu-Lapu City,Cebu

INC.
- Salary Loans - Special Savings Deposit COMPOSTELA BRANCH
(DepEd, LGUs, National Offices) (Kids & Teens Account) Poblacion, Compstela, Cebu
- Micro-Finance Loans Telefax No.(032)425-8383
>Proyekto Ma-asenso OTHER SERVICES:
(Grameen and ASA Approach) - Safety Deposit Box MEMBER:
>Asenso Loan - G-Cash - Philippine Deposit Insurance Corporation (PDIC)
A Rural Bank (MABS Approach)
- Other Loans
- DCWD Bill Payments - Rural Bankers Association of the Philippines (RBAP)
- Zamboanga del Norte Federation of Rural Banks (ZNFRB)
- Dipolog City Bankers Club (DCBC)

more than the USUAL banking...

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OGIS
Greetings from:
Branch-1 GP Quijano St., Poblacion 2
Greetings from: Greetings from:
Oroquieta City

Branch-2 C. Pastrano St., Poblacion 1

MKD
Oroquieta City

LECHON MANOK and RESTAURANT

ACCEPT CATERING SERVICES
IN ANY OCASSIONS LILY
ACCEPTS ORDERS & LECHON BABOY CONTACT # 09088646050; 09084073184
PRINTING MART
Greetings from: For inquiries please call:
BENJAMIN QUE
at 088-856-4120
PRESS CORNER BURGOS PINGOL STS., OZAMIZ CITY
P.O BOX 176 Telefax; (088) 521 3979; (088) 521 0030
Nickel Agency, Philam Plans, Inc.
Cagayan de Oro City
TANGUB CITY
Proprietors:
Fiscal Liben Go Medina
and Mrs. Rosalie Mijares Medina
An affordable insurance and savings program that goes a long way for a
planholder from retirement to business venture, future travels and even for
any asset or equipment acquisition.
JOZE JOSE K. ARUELO
Proprietor “Sells T-shirts, Textile, Plastics and Modiste”
Prodigy Education Plan assures the unbreakable love affair of every
family with the importance of securing your child’s future.

Congratulations!
Paglaum Multi-Purpose Cooperative
Congratulations!
Paglaum Multi-Purpose Cooperative BENTAN 53-S Bonifacio St., Ozamiz City
(In front of Misamis University)
Tel.# (088) 521-0421 / 521-3344

MARKETING
Telefax # (088) 521-2333
Celfone # 0917-7221969 / 0919-3522137
Email ID: bentanmarketing@yahoo.com

YOUR ONE-STOP COMPUTER STORE SINCE 1992

ST. NICHOLAS MR. & MRS. KID
BULAWAN SPACE
AUTO PARTS
AUTHORIZED SERVICE CENTER

RENTAL HOME
North Poblacion, Calamba, Mis. Occ.
(In front of Calamba Municipal Hall)
Tel. No. 271-3752 or 271-3677
M. Taclob St. Don Bernardo A. Neri RURAL BANK OF PLARIDEL
(MIS. OCC.) INC.
Calamba, Mis. Occ.

Tel. Nos. 271-3345 (DBAN Calamba)

MR. AND MRS. NESTOR PARADAÑAS
Proprietor
271-3918 (Calaran, Calamba, Mis. Occ) Marciana E. Monera, President

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 OZAMIZ AUTO MART
G/F Casa Esperanza, DABA, Ozamiz City
Tel. Nos. (088) 521-0175 (088) 521-0312

SARAH MAY PENSION HOUSE

Ninoy Aquino Boulevard, Barangay Ramon Magsaysay, Sindangan, Zamboanga del Norte

conveniently located * Aircon Rooms with individual toilet and bath

cable T.V. in all aircon rooms * accepts catering services for live-in seminars, conferences, birthdays & weddings
standby generator * 24 hour security * also available ordinary rooms with electric fan only
very affordable rates * good water supply, etc.

PROPRIETOR:
Mr. and Mrs. Hermenegildo Villegas
Tel.# (065) 224-2035 Cell.# 09184646401

Congratulations! Congratulations!
Paglaum Multi-Purpose Cooperative Paglaum Multi-Purpose Cooperative

PIOPlS
OROQUIETA CITY BRANCH
UCPB ATM

ace NOW OPEN 24/7

TO SERVE YOU...
UCPB Bldg., A. Enerio St., Oroquieta City
Plaridel, Misamis Occidental (088) 531-1123; (088) 531-1124
Fax (088) 531-1444

Benefactors
Rural Bank of Oroquieta (Calamba Branch); Adelix Store, PCC (Bernadette Pagalaran)
ONE NETWORK BANK; UNITED COCONUT PLANTERS BANK (Pagadian Branch)
ATTY. OSCAR O. ABUZO, Notary Public, Calamba, Mis. Occ.
PLARIDEL SERVICE COOPERATIVE (PLASECO) Plaridel, Mis. Occ.
DES APPLIANCE PLAZA – MS. LUZ A. BALASABAS, Manager
S.C.Q. Petron Station, Plaridel, Mis. Occ.; Redelyn Magsalay, Member, Board of Directors

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