COOPERATIVE
Written by redbalmeo on 10:31 AMA cooperative is a duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end, making equitable to contributions to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with university accepted cooperative principles.
By forming a cooperative, you pool your money, human resources and talent to build capital, and work together to produce more goods and raise incomes. Through cooperatives, you can lok for the other sources of loans at low interest instead of borrowing from informal lenders or usurers.
DTI-BTRCP Registration - It is necessary to register your business with the Department of Trade and Industry (DTI) and the Bureau of Trade Regulation and Consumer Protection (BTRCP) because you will gain the exclusive right to establish and use your business name. It also offers protection from those could take advantage of your name. These government agencies see to it that there is no duplication in the use of names.
Kinds of Cooperatives:
1. Credit Cooperative - promotes thrift and savings among its members and creates funds in order to grant loans for productive and provident purposes.
2. Consumer Cooperative - the primary purpose is to procure and distribute commodities to members and non-members.
3. Producers Cooperative - undertakes joint productions whether agricultural or industrial.
4. Marketing Cooperative - engages in the supply of production inputs to members, and markets their products.
5. Service Cooperative - engages in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication and other services.
6. Multi-Purpose Cooperative - combines two (2) or more of the business activities of these different types of cooperatives.
Registering with the Cooperative Development Authority (CDA)
- All cooperatives are required to register with the CDA as per Republic Act 6938/6939.
Register at:
Cooperative Development Authority
6/F Benlor Bldg., 1184 Quezon Ave., Quezon City
Tel. No.: 373-6896
Steps:
1. Submit four copies of the Articles of Cooperation
2. Submit four copies of the By-Laws
3. Submit four copies of the Economic Survey (feasibility study)
4. Submit Bond Accountable Officers (Fidelity, Cash, or Surety)
5. Capitalization not lower than P2,000 (depending on the activities registered)
6. Minimum of 15 members
source:www.tlrc.gov.ph
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