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San Vicente Savings and Credit Cooperative

San Vicente, Kennon Road, Baguio City, 2600
Reg. No. 9520-15009041 CIN: 010-715-0109
Mobile No.: 0918-358-1110 Email:
1 svscc.coop@yahoo.com
2
3 Minutes of the Regular Monthly Board Meeting
4 Held on September 27, 2014 SVSCC Building, San Vicente,
5 Baguio City at 2PM
6
7 I. ATTENDANCE
8 Present: Estela Dulagan Chairperson
9 Estella Pang-etan Vice Chairperson
10 Joseph Daluyen Director of the Board
11 Julia Lapaan Director of the Board
12 Sammy Atolba Director of the Board
13 Angeline Olowan Director of the Board
14 Mary Grace B. Lem-ew BOD Acting Secretary
15 Luisa Oloan AuditCom Chairperson
16 Luisa Mang-usan MedCom Chairperson
17 Atty. Potenciano Mangusan EleCom Chairperson
18 Absent: Cristina Odien Director of the Board
19
20 II. CALL TO ORDER:
21 The present Body granted the 10 minutes presentation of Mr. Satur Cadsi,
22 representative of Philam Life to discuss their portfolio on Credit Life. Thereafter,
23 with the confirmation of a quorum, Chairperson Estela Dulagan called the meeting
24 to Order at exactly 2:15PM.
25
26 A. Approval of the Minutes of Meeting
27 Resolution 09-27-01
28 Considering the due reading of the Minutes of the Regular Monthly Board Meeting held
29 on August 16, 2014, Elecom Chairperson Mangusan moved and was duly seconded that the
30 Minutes be approved as part of Coop records.
31
32 B. Matters Arising from the Minutes of the Previous Meeting (August 16, 2014)
33 Line 40- Atty. Mangusan inquired whether or not Dir. Odien and Crecom Balan-eg acted
34 on the recommendation of the Audit Committee with concurrence of the Board on their
35 actions as to overdue loans.
36
37 At present, Dir. Odien and Crecom Balan-eg have not acted on their loans yet. EleCom
38 Mangusan adviced the Board to implement sanctions especially so that they were officers
39 and both were given ample time to comply with their obligations.
40
41 Resolution 09-27-02
42 After the discussions and considering that Dir. Odien is an Officer of the Coop, Dir.
43 Daluyen moved to give Dir. Odien 15 days from due notice to act on her existing overdue
44 loans, failure on her part would lead to her termination as officer and to offset
45 at least Php 27,000,00 from her share capital to her loan. Duly Seconded. Approved.
46
47 Resolution 06-27-03
48 Dir. Lapaan, moved for the implementation of suspension to Crecom Mary Ann Balan-eg
49 effective October 1, 2014 considering her failure to act on her loan and that the collateral is
50 not fully secured and for having a share below Php25, 000.00, a requirement for an
51 officer of the coop. Duly Seconded. Approved.
52
53 Resolution 09-27-04
54 It was moved and duly seconded that the Management will notify and implement
55 Resolutions 09-27-02 and 09-27-03. Further, for Dir. Lapaan to confer with CreCom Balan-

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56 egs' witnesses in the Real Estate Mortgage and the registered owner of the collateral.
57 Approved.
58
59 Line 44-Atty. Mangusan asked the reason behind the discrepancy of the cash on hand
60 reported by Audit Committee. Audit Chairperson stated that the discrepancy is still within
61 the allowable discrepancy and the Audit shall conduct another cash count to determine the
62 cause of the discrepancy.
63
64 Resolution 09-27-05
65 Line 74- Dir. Pang-etan moved and seconded by Dir. Lapaan that effective immediately,
66 the Associate members shall only be given two (2) years to complete their requirements
67 particularly on the minimum Share Capital in order to be a regular member, failure shall
68 mean termination of their membership and forfeiture of any deposits made. Approved.
69
70 Line 82-Dir. Atolba informed the Body that their Committee was not able to implement
71 the Feeding program since there was no letter coming from the school teacher
72 addressed to the coop due to the busy schedules of the school recently. Therefore , no cash
73 was also released for the said project yet.
74
75 Resolution 09-27-06
76 Dir. Daluyen moved for the implementation of Clean Up activity of Coop Officers and
77 Management Staff as Community Service on October 6, 2014 within San Vicente Barangay
78 from 8:00-12:00NN. Each participant shall be allocated Php500.00. Seconded. Approved.
79
80 Resolution 09-27-07
81 Dir. Lapaan moved and was duly seconded that the minutes of the Special Meeting held
82 on September 8, 2014 become part of Coop records. Approved.
83
84 III. AGENDA/Reports:
85 A. Legal Committee
86 Dir. Lapaan informed the Body that Atty. Behar instructed them to furnish him
87 photocopies of records of delinquent borrowers which consists but not limited to the
88 security of the loans, mortgages, and Demand Notices.
89
90 B. Audit Committee (see attached written report)
91 Resolution 09-27-08
92 The present Body unanimously agreed to the reccomendation of Audit Committee on
93 the following matters:
94
95 1. Each Directors/Committee shall submit a written report stating their activities and avoid
96 only verbal reporting for proper documentation and coop files;
97
98 2. The PMES Manual is a reflection of the coop and many are reading it, therefore timely
99 correction and updating should be done particularly on the History of SVSCC which was
100 written by former Manager Michael Medina and some grammatical errors were noticed.
101 Wherefore, due notice should be given to the author informing him of the corrections to be
102 made by the present officers and management;
103
104 3. Both Coop cashiers should avoid getting absent at the same time and to maintain internal
105 control in the management.
106
107 Atty. Mangusan moved and was duly seconded that the report of Audit Committee become
108 part of Coop records. Seconded.
109
110 C. EleCom Report.
111 1. Elecom Chairperson manifested that after two meetings, he is now in possession of a
112 signed document as to the settlement with the Ancheta lot oppositions. He suggested that
113 the lot buyer shall conduct further lot survey of the area.
114
115 Resolution 09-27-09
116 2. Atty. Mangusan recommended that to acquire authority over the lot where the present
117 Coop office is situated it must be survey as to the actual size and to request the present
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118 Barangay Officials to Draft a Resolution/Ordinance granting the said lot portion to the
119 SVSCC. The Management shall initiate the necessary communications with the respective
120 persons concern. Dir. Lapaan moved to adopt the instant recommendation, duly seconded.
121
122 D. CreCom Report.
123 Resolution 09-27-10
124 Dir. Pang-etan recommended that CreCom reports should not contain only the table of
125 loan status and actions. According to her, when it stated that it contains the Minutes of
126 their Meeting the it should at least contain a narrative statements as to their agenda,
127 discussions, activities, recommendations and other concerns they wish the Board to
128 know and be acted upon. That similar recommendation apply to other committees,
129 added by Chairperson Dulagan. Dir. Lapaan moved to adopt the present recommendation.
130 Seconded by Dir. Atolba.
131
132 E. Manager's Report. (See attached written report)
133 Resolution 09-27-11
134 Present Body simultaneously read and discuss the content of the report with the following
135 agreed changes :
136
137 1. Business Permit of the Coop apartment building, for the Management to study whether or
138 not to change /add a Multi-purpose services and not limit to Savings and Credit.
139 2. Policy on Apartment Lessee, for the Management to screen applicant lessees.
140 3. Membership Application, for Management to asses applicant for membership prior
141 attendance to PMES to determine their financial status and prevent boarders from being
142 given equal benefits with non-boarders.
143 4. Reinstatement of Voluntary/Involuntary terminated members, to apply double the
144 amount of the required Share Capital.
145 5.Creation of the new business venture of Coop, for Management to identify other business
146 where to invest sleeping coop funds for the Boards study and approval (in rel. Entrepreneur
147 Seminar) e. i. gasoline station.
148 6.Time Deposit, Acceptance of time deposit shall be suspended effective September 27,
149 2014 until the approval of the new rate for time deposit.
150 7. Laboratory Savings Deposit, Lay on the table for further discussions of the Manager.
151 8. Checks as Additional Loan Security, approved.
152 9. Secured Loans, to retain the Php. 50,000.00 since soft loans may still be availed by
153 members.
154
155 Audit Chairperson Olowan moved for the Adoption of the above-stated agreed changes in
156 the Managers report. Duly Seconded. Adopted.
157
158 IV. COMMUNICATIONS:
159 1. Regional Coop Month Celebration to be conducted on October 28-29, 2014 in Abra
160 with a theme "Raising the Bar". No one confirmed attendance yet.
161
162 2. CARCU GST/GAD Training at BSU, La Trinidad Benguet on October 24-25, 2014. Dirs.
163 Pang-etan, Lapaan, and Oloan confirmed their attendance to the said training.
164
165 V. ADJOURNMENT:
166 There being no other matters and concerns to discuss, Dir. Daluyen moved that the
167 meeting be adjourned and was duly seconded at 7:40P.M.
168
169
170 Prepared By;

171 MARY GRACE B. LEM-EW

172 Acting Secretary

174Attested By;

175 ESTELA DULAGAN

176 BOD Chairperson
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