Unit 25K One Gateway Place

Pioneer St., Mandaluyong City, Philippines 1552 Telephone no. 909-7363

Email1: SandiganDirectors@yahoogroups.com

Email 2: SandiganOFWMPC@groups.facebook.com

For Visitors, visit us: Facebook—”Sandigan”

For Members, visit us:

Facebook - “Sandigan Ng OFW Multi-Purpose Cooperative”

Tayo na, Sama na Sa SOMPC …! Sundo Hatid, Credit..………..

Funds, Stocks Investment…

Marketing, Services…

Sandigan Ng OFW Multi-Purpose Co-

operative (SOMPC) - A perfect Coopera-

tive for all migrant workers and expatriates

Vision

Working Together as ONE OFW Family with

ONE OFW Business

Mission

Continuous Knowledge Sharing and Team

Building in Service to ONE OFW Family

Description

Sandigan Ng OFW Multi-Purpose Cooperative

is an association of OFW's with a common

bond of interest, who voluntarily joined togeth-

er for the purpose of engaging in lawful busi-

ness undertakings in preparation for our re-

tirement or returning back to the Philippines

for good.

“If you want something done—do it yourself “

by Robert Owen

“Coming Together is the Beginning, Keeping in touch is Progress,

Working Together is Success”

by Henry Ford

“Share, Earn and Save the Cooperative Way”

Sandigan ng OFW Multi-Purpose Cooperative (SOMPC)

CDA Registration: 9520-16015092

“ONE OFW Family -

ONE OFW Business”

WE communicate, practice coop

principles and transact online to

provide services to our Members…!

Share, guide, empower and support to discover, develop skills and lead find your strength & talents …!

2. What are the Principles of Cooperatives?

1) Voluntarism. Membership is voluntary and is not re-

stricted by social, political or religious discrimination.

Anyone who meets the qualifications set by a cooper-

ative's bylaws can be a member if he willingly shoul-

ders their responsibility.

2) Democracy. Cooperatives are democratic organiza-

tions with officers and managers elected or appointed

in a manner agreed on by members. Each member,

no matter the amount of his share, is entitled to one

vote.

3) Limitation of share capital interest. Interest on a mem-

ber share capital is limited so that no person, espe-

cially those with money, can have an overwhelming

equity in the cooperative. This prevents the domina-

tion of the cooperative's affairs by wealthy members

at the expense of poorer members and the organiza-

tion as whole.

4) Sharing allocation of cooperative’s surplus or savings. Dis-

tribution of surplus is done equitably so that no mem-

ber gains at the expense of another. Surplus is, by

decision of the members, used for developing the

cooperative's business interests, providing common

services to members in proportion to their transac-

tions with the cooperatives.

5) Makes provision for the education and training of coop-

eratives members, officers and employees, and of the

general public in the principles and techniques of

cooperation.

6) Promotion of cooperation between cooperatives at local,

national and international levels.

7) Concern for community by working for its sustainable

development, through policies approved by the coop-

erative members.

Visit us in Facebook—Sandigan

Contact Us:

Training Education Committee

SandiganDirectors@yahoogroups.com

SandiganOFWMPC@groups.facebook.com

1. What is a cooperative?

A cooperative is a duly

registered association

of persons with a com-

mon bond of interest,

who have voluntarily

joined together to

achieve a lawful common social or economic end,

making equitable to contribution to the capital

required and accepting a fair share of the risks and

benefits of the undertaking in accordance with

universally accepted cooperative principle.

By forming a cooperative you pool money, human

resources and talent to build capital and work

together to produce more goods and raise in-

comes. Through cooperatives, you can look for

the other sources of loans at low interest rates of

borrowing form informal lenders or users. The

cooperative can also be a mechanism for market-

ing your produce.

Pre-Membership Orientation

on Cooperatives (PMOC)

of Sandigan ng OFW Multi-

Purpose Cooperative (SOMPC)

3. What are the Kinds of Cooperative?

1) Credit Cooperative - promotes thrift and savings among its

members and creates funds in order to grant loans for

productivity;

2) Consumer Cooperative - the primary purpose is to procure

and distribute commodities to member and non-

members;

3) Producers Cooperative - undertakes joint production

whether agricultural or industrial;

4) Service Cooperative - engages in medical, and dental care,

hospitalization, transportation, insurance, housing , labor,

electric light and power, communication and other ser-

vices; and

5) Multi-Purpose Cooperative - combines two (2) or more of

the business activities of these different types of coopera-

tives.

6) Marketing Cooperative is one which engages in the supply

of production inputs to members and markets their

products;

7) Advocacy Cooperative is a primary cooperative which pro-

motes and advocates cooperativism among its members

and the public through socially-oriented projects, educa-

tion and training, research and communication, and other

similar activities to reach out to its intended beneficiaries;

8) Agrarian Reform Cooperative is one organized by marginal

farmers majority of which are agrarian reform beneficiar-

ies for the purpose of developing an appropriate system

of land tenure, land development, land consolidation or

land management in areas covered by agrarian reform;

9) Cooperative Bank is one organized for the primary pur-

pose of providing a wide range of financial services to

cooperatives and their members;

10) Dairy Cooperative is one whose members are engaged in

the production of fresh milk which may be processed

and/or marketed as dairy products;

11) Education Cooperative is one organized for the primary

purpose of owning and operating licensed educational

institutions notwithstanding the provisions of Republic Membership Meeting in Al Khobar KSA

Part I Cooperative

Act No. 9155, otherwise known as the Governance

of Basic Education Act of 2001;

12) Electric Cooperative is one organized for the primary

purposed of undertaking power generations, utilizing

renewable energy sources, including hybrid systems,

acquisition and operation of sub transmission or dis-

tribution to its household members;

13) Financial Service Cooperative is one organized for the

primary purpose of engaging in savings and credit

services and other financial services;

14) Fishermen Cooperative is one organized by marginal-

ized fishermen in localities whose products are mar-

keted either as fresh or processed products

15) Health Services Cooperative is one organized for the

primary purpose of providing medical, dental and

other health services

16) Housing Cooperative is one organized to assist or pro-

vide access to housing for the benefit of its regular

members who actively participate in the savings pro-

gram for housing. It is co-owned and controlled by its

members

17) Insurance Cooperative is one engaged in the business

of insuring life and poverty of cooperatives and their

members

18) Transport Cooperative is one which includes land and

sea transportation, limited to small vessels, as defined

or classified under the Philippine maritime laws, orga-

nized under the provisions of this Code

19) Water Service Cooperative is one organized to own,

operate and manage waters systems for the provision

and distribution of potable water for its members and

their households

20) Workers Cooperative is one organized by workers,

including the self-employed, who are at same time the

members and owners of the enterprise. Its principal

purpose is to provide employment and business op-

portunities to its members and manage it in accord-

ance with cooperative principles

21) Other types of cooperative as may be determined by the

Authority

4. What are the Categories of Cooperative?

A. In terms of membership,

a. Primary: The members of which are natural persons;

b. Secondary: The members of which are primaries; and

c. Tertiary: The members of which are secondary’s upward to

one (1) or more apex organizations. Those cooperative

the members of which are cooperatives shall be known as

federations or unions, as the case may be; and

B. In terms of territory, cooperatives shall be categorized ac-

cording to areas of operations which may or may not coin-

cide with the political subdivisions of the country.

5. What are the kinds of Members in a Cooperative?

Regular member who is entitled to all the rights and privileged of

membership as stated in the Cooperative Code and the coops by-

laws.

Associate member who has no right to vote and to be voted upon,

and is entitled to such rights and privileged provided by the coopera-

tives by laws.

6. What are Powers and Capacities of a Registered

Cooperative?

(1) To sue and be sued in its cooperative name;

(2) Of succession;

(3) To amend its articles of cooperation in accordance with the

provisions of this code;

(4) To adopt by-laws not contrary to law, morals or public poli-

cy, and to amend and repeal the same in accordance with

this Code;

(5) To purchase, receive, take or grant, hold, convey, sell, lease,

pledge, mortgage, and otherwise deal with such real and

personal property as the transaction of the lawful affairs of

the cooperative may reasonably and necessarily require,

subject to the limitations prescribed by law and the Consti-

tution;

(6) To enter into division, merger or consolidation, as provided

in this Code;

(7) To join federations or unions, as provided in this Code;

(8) To accept and receive grants, donations and assistance

from foreign and domestic sources; and

(9) To exercise such other powers granted in this Code or

necessary to carry out its purpose or purposes as stated

in its articles of cooperation.

7. What are the Privileges of a Registered Cooper-

ative?

(1) Enjoy the privilege of depositing their sealed cash boxes

or containers, documents or any valuables papers in the

sale of the municipal or city treasurers and other govern-

ment offices free of charge, and the custodian of such

articles shall issue a receipt acknowledging the articles

received duly witnessed by another person;

(2) Cooperatives organized among government employees,

notwithstanding any law or regulation to the contrary,

shall enjoy the free use of any available space in their

agency, whether owned or rented by the Government.

(3) Cooperatives rendering special types of services and facili-

ties such as cold storage, ice plant, electricity, transporta-

tion, and similar services and facilities shall secure a fran-

chise therefore, and such cooperatives shall open their

membership to all persons qualified in their areas of

operation;

(4) In areas where appropriate cooperatives exist, the prefer-

ential right to supply government institutions and agen-

cies rice, corn and other grains, fish and other marine

products, meat, eggs, milk, vegetables, tobacco and other

agricultural commodities produced by their own mem-

bers shall be granted to the cooperatives concerned;

(5) Preferential treatment in the allocation of fertilizers and in

rice distribution shall be granted to cooperatives by the

appropriate government agencies;

(6) Preferential and equitable treatment in the allocation or

control of bottomries of commercial shipping vessels in

connections with the shipment of goods and products of

cooperatives;

(7) Cooperatives and their federations, such as market vendor

cooperatives, shall have preferential rights in management

of public markets and/or lease of public market facilities,

stall or spaces;

(8) Credit cooperatives and/or federations shall be entitled to

loans, credit liens, rediscounting of their loan notes, and

other eligible papers with the Development Bank of the

Philippines, the Philippine National Bank, the Land Bank

of the Philippines, and other financial institutions except

the Central Bank of the Philippines;

(9) Cooperatives transacting business with the Government

of the Philippines or any of its political subdivisions or

any of its agencies or instrumentalities, including govern-

ment-owned and controlled corporations shall be ex-

empt from pre-qualification bidding requirements; and

(10) Cooperatives shall enjoy the privilege of being repre-

sented by the provincial or city fiscal or the Office of

the Solicitor General, free of charge, except when the

adverse party is the Republic of the Philippines.

8. What is the Term of a Registered Coopera-

tive?

A cooperative shall exist for a period not exceeding fifty (50)

years from the date of registration unless sooner dissolved. It

may be extended for periods not exceeding fifty (50) years in

any single instance.

9. What is a Cooperative By-Laws?

By- laws are the set of rules that determine how a cooperative

is to be run without confusion, which include provisions on

membership, rights and obligations of members, shares of

interest, rules and procedures governing meetings, voting sys-

tem, general conduct of affairs of the cooperative, handling net

surpluses, accounting and auditing systems, manner of adopting,

amending, repealing and abrogating by-laws, conciliation or

mediation mechanism, and other matters pertaining to the

purpose and activities of the cooperative.

10. What is an Article of Cooperation?

The Article of Cooperation is a duly notarized document that

legally binds all the signatories in the formation of a coopera-

tive. It contains the name of the cooperative, purpose and

scope of business, term of existence, common bond of mem-

bership, list of names of directors who shall manage the coop-

erative, and amount of share capital by the cooperators.

11. What is an Economic Survey?

An economic survey is a general statement describing the

structure, purpose, economic feasibility of the cooperative,

area of operation, size of membership and other pertinent

data.

12. What is the Legal Basis for Cooperatives?

Republic Act No. 9520 (R.A.6938), an Act to Ordain a Coop-

erative Code of the Philippines.

13. What is the Authorized Agency to Register Coopera-

tives?

Cooperative Development Authority (CDA) is the only authorized

agency to register cooperatives. CDA was created under Republic

Act No. 9520 (R.A. 6939) to promote the viability and growth of

cooperatives as instruments of equity, social justice and economic

development.

1] What is Sandigan ng OFW Multi-Purpose Cooperative?

It is a multi-purpose cooperative whose primary objective is to

engage in businesses that will serve the needs primarily of its mem-

bers and their families.

Originally registered with CDA on December 12, 2007, with regis-

tration H-624-6357. Under the revised new CDA R.A. 9520 with

Registration No. 9520-16015092

2] What is the Vision of Sandigan?

Working Together as ONE OFW Family with ONE OFW Business

3] What is the Mission of Sandigan?

Continuous Knowledge Sharing and Team Building in service to

ONE OFW Family

4] What are its Primary Goals/Objectives?

A) Utilize the Information Technology (IT) with borderless Socio-

Economic Partnership

1) Actively participate the government and other organizations

local and International to promote cooperatives as practical

means towards sustainable socio-economic development

under a truly trust and democratic society;

2) Online Transactions - open and timeless Communications;

3) Archive and retrieval of Sandigan data thru cyber space

storage

B) Invest, Own, Manage Businesses Controlled by the OFW Mem-

bers

1) Develop a dynamic savings mobilization and capital build-up

to sustain cooperative development activities and long

term investments ensuring optimum economic benefits to

the members and their families and general public;

2) Establish local producers with a sustainable & competitive

marketing

3) Create local and international business outlets of coop

products

C) Provide technical support to the next OFW Members genera-

tions

1) Continuous Trainings - IT, Ethics, Technical, Business &

Coop Seminars

2) Develop solid succession of the Sandigan Co-operative

Management

3) Create Sandigan Foundation and support the Sandigan

adapted Community

5] What are its secondary objectives?

a. To actively support the government and other concerned

organizations, both local and foreign, in promoting coopera-

tives as a practical means towards sustainable socio-economic

development under a truly just and democratic society;

b. To develop the knowledge of the members on the principles

and practices of cooperatives to enable them to actively and

competently participate in managing the affairs of the Cooper-

ative;

c. To institutionalize a dynamic savings mobilization and capital

build-up schemes to sustain its development activities and long

-term investments, thereby ensuring optimum economic bene-

fits to the members, their families and the general public;

d. To implement policy guidelines that will ensure transparency,

equitable access to its resources and services, and promote

the interests of the members; and

e. To adopt such other plans as may help foster the welfare of

the members, their families and the community.

6] What type of membership does Sandigan have?

Regular membership.

7] What are the qualifications for membership?

The regular membership of this Cooperative is open to any natural

person, Filipino citizen, of legal age, with capacity to contract, and

has the following qualifications:

a) Completed the prescribed pre-membership orientation on

cooperatives and Sandigan ng OFW Multi-Purpose Coopera-

tive;

b) Undertake to uphold the By-laws, policies, guidelines, rules

and regulations promulgated by the Board of Directors and

the general assembly; and

c) Current or former overseas Filipino worker (OFW); or

PART II SANDIGAN NG OFW MULTI-PURPOSE CO-OPERATIVE (SOMPC)

d) Spouse's), children, parents, or siblings of a current OFW

member

8] What is the procedure in applying for membership?

The applicant for membership shall file a duly accomplished form

with the Board of Directors who shall accept or deny it within

thirty (30) days from the date of filing. No application for mem-

bership shall be given due course if not accompanied with a

membership fee of One Thousand Pesos (P1,000) which shall be

refunded to the applicant in case of rejection.

1) Attend the PMES or fully understand the PMOC

2) Fill the Application Form

3) Email the Form to SandiganDirectors@yahoogroup.com

4) BOD will approved the membership, Non-approval will

be returned in 1 month and any paid amount paid will be

reimbursed.

5) Pay cash to Treasurer or online to Sandigan A/C, con-

tact the Treasure, request for the Payment OR#

9] What is the minimum share capital subscription?

An applicant for regular membership shall subscribe at least four

(04) Common shares and pay the value of at least one (01)

shares upon approval of his membership. No member shall own

or hold more than twenty percent (10%) of the total subscribed

share capital of the Cooperative., summary:

1) Min Subscribe Shares = 4 Shares (1 Share = 1,000 Php)

2) Payment upon membership = 1 share (min. share equal

to 25% of Subs. Shares)

3) Balance unpaid subscribe shares payable in 01 Year

4) Maximum Subscribe Shares = 10% of the Total Subs

Shares Capital of Sandigan

Example ( Members shares subscription):

Min. Shares Subs (01) + Membership Fee = 1,500 Ph

Full Shares Subs (04) + Membership Fee = 4,500 Ph

10] What is the minimum payment required once the

application for membership is approved?

Equivalent of 25% of subscribed share at Php1,000.00 per share

plus the membership application fee of Php 500.00

11] What are the duties and responsibilities of a mem-

bers?

a) Pay the installment of his share capital subscription as it

falls due and to participate in the capital build-up and

savings mobilization activities

of the Cooperative;

b) Patronize the Coopera-

tive’s businesses and services;

c) Participate in the member-

ship education programs;

d) Attend and participate in the deliberation of all matters

taken during general assembly meetings;

e) Observe and obey all lawful orders, decisions, rules and

regulations adopted by the Board of Directors and the

general assembly; and

f) Promote the goals and objectives of the Cooperative, the

success of its business, the welfare of its members and the

cooperative movement in general.

12] Who are entitled to vote?

Any regular member who meets the following conditions is a

member entitled to one vote:

a) Paid the membership fee and the value of at least twenty-

five (25) % of member’s subscribed shares;

b) Not delinquent in the payment of his share capital subscrip-

tions and other accounts or obligations;

c) Not violated any provision of this By-laws; the terms and

conditions of the subscription agreement; and the decisions,

guidelines, rules and regulations promulgated by the Board

of Directors and the general assembly;

d) Completed pre-membership orientation on cooperatives

and SOMPC prescribed by the Board of Directors.

13] What are the rights of a regular member entitled to

vote?

a) Participate and vote on all matters deliberated upon during

general assembly meetings;

b) Seek any elective or appointive position, subject to the

provisions of this By-laws and the Cooperative Code of the

Philippines;

c) Avail himself of the services of the Cooperative, subject to

certain conditions as may be prescribed by the Board of

Directors;

d) Inspect and examine the books of accounts, the minutes

books, the share register, and other records of the Cooper-

ative during office hours; and

e) Such other rights and privileges as may be provided by the

General Assembly.

14] What is the liability of members?

A member shall be liable for the debts of the Cooperative only

to the extent of his subscribed share capital

15] How is membership terminated?

Termination of membership may be automatic, voluntary or

involuntary.

Automatic termination of membership results from death, insani-

ty, permanent incapacity or judicial declaration by a competent

court of the insolvency of a member.

Voluntary termination results from a withdrawal of a member’s

membership from the cooperative by giving a 60-day notice to

the Board of Directors. However, no member shall be al-

lowed to withdraw or terminate within one year of his mem-

bership and when he/she has any pending obligation with the

Cooperative.

Involuntary termination results from a vote of the majority of all

the members of the Board of Directors for any of the following

causes:

a) When the member has not patronized the services/

businesses of the Cooperative for more than one year;

b) When the member has continuously failed to comply with

his obligations;

c) When the member has violated any provision of this By-

laws and the rules promulgated by the Cooperative; and

d) For any act or omission injurious or prejudicial to the

interest or the welfare of the Cooperative

16] How does a terminated member refund his/her

share capital contribution?

A member whose membership is terminated shall be entitled

to a refund of his share capital contribution and all other inter-

ests minus any pending obligation with the Cooperative, sub-

ject to the availability of cash and commitment of funds or cash

flow towards previously approved projects of investments by

the Cooperative.

In case of automatic termination, such share capital contribu-

tion and all other interests in the Cooperative shall be refund-

ed to the beneficiaries listed on the membership application

form approved by the members of the Board of Directors.

However, such refund shall not be made if upon payment the

value of the assets of the Cooperative would be less than the

aggregate amount of its debts and liabilities exclusive of his

share capital contribution. In which case, the terminated mem-

ber shall continue to be entitled to the interest of his share

capital contributions, patronage refund and the use of the

services of the Cooperative until such time that all his inter-

ests in the Cooperative shall have been fully paid. Upon the

acceptance of his withdrawal or approval of his termination,

however, he loses his right to attend, participate and vote in

any meeting of the Board of Directors or the general assem-

bly.

17. SOMPC Organization

1] General Assembly

The general assembly is composed of all the members entitled

to vote and is the highest governing-body of the Cooperative.

Powers of the General Assembly

a) To adopt and amend its Articles of Cooperation and By

-laws, in accordance with law;

b) To elect, appoint or remove for cause any member of

the board of directors, officer or committee member

of the Cooperative;

c) To review, modify, reject or approve developmental

plans and programs of the Cooperative;

d) To review and pass upon the reports of the Board of

Directors, Officers and committees;

e) To review, modify, reject or approve any substantial

change in the financial and operational policies of the

Cooperative;

f) To adopt a Cooperative seal; and exercise all other pow-

ers as may be authorized by law and the Constitution

2] Board of Directors

The conduct and management of the affairs of the Cooperative

shall be vested in the Board of Directors which shall be composed

of seven (7) members.

Powers and Duties of the Board

The Board of Directors shall direct, control and supervise the

business, manage the property of the Cooperative and may, by

resolution, exercise all such powers of the Cooperative as are not

reserved for the general assembly under the SOMPC By-laws and

the Cooperative Code of the Philippines

3] Committees

Audit Committee. The Committee shall provide

internal audit service, maintain a complete record

of its examination and inventory, and submit an

audited financial report quarterly or as may be

required by the Board and the general assembly.

Election Committee. The committee shall

promulgate rules and regulations which shall

govern the conduct of elections; pass upon the

qualifications of candidates; supervise the con-

duct of elections, canvass and certify in writing

the returns; proclaim the winning candidates;

and hear and decide all election protests.

Education and Training Committee. The com-

mittee shall be responsible for the planning and

implementation of the information, educational

and human resource development programs of

the Cooperative for its members, officers and

the communities within its area of operation.

Conciliation Committee. The Conciliation

Committee shall be responsible for reconcil-

ing, hearing and deciding all intra-cooperative

disputes between and/or among members,

officers, directors and the community.

Credit Committee. The Credit Committee

shall be responsible for the credit management

of the cooperative. It shall process, evaluate and

act upon loan application and withdrawal of

deposits, except when the applicant is a member

of the committee, in which case, the application

shall be acted upon by the Board of Directors.

Additionally, the committee shall exercise general supervision

including collection of all loans to members

4] Officers of the SOMPC

The cooperative shall have a Chairman, Vice-Chairman, Treasurer

and a Secretary who shall serve according to the functions of their

respective offices as follows:

The Chairman shall:

a) Preside over all meetings of the Cooperative

and of the Board of Directors;

b) Sign all share certificates, revolving fund

certificates, contracts and other instruments or

papers essential to the operations of the Co-

operative; and

c) Perform such other necessary functions, subject to the re-

strictions which may be imposed by the Board of Directors or

the General Assembly

The Vice-Chairman, in the absence or incapaci-

ty of the Chairman, shall discharge the duties

and responsibilities of the Chairman; provided,

however, that in case of death, resignation,

removal or permanent incapacity of the Chair-

man, the Board of Directors may elect a new

Chairman. The Vice-Chairman of the Board

shall serve as ex-officio chairman of the Educa-

tion and Training Committee.

The Treasurer shall:

a) Take custody of all monies, securities and

papers acquired by the Cooperative, and main-

tain a complete records of all its transactions;

b) Keep a complete record of its cash transac-

tions for the establishment of proof of his cash

position at any given time and date;

c) Pay all financial obligations incurred by the

Cooperative as approved by the Manager and/or Board of

Directors;

d) Render report and certify the correctness of the cash position

of the Cooperative in all financial statements and other reports

submitted to the Board of Directors, the general assembly and

the Cooperative Development Authority;

e) Turn over to his successor all monies, securities, papers,

books and other properties belonging to the Cooperative

in his possession upon the expiration/termination of his

term of office;

f) Act as Secretary in case of the latter’s absence or incapacity

to perform his duties; and

g) Perform such other duties as the Board of Directors may

prescribe.

The Secretary shall:

a) Keep and maintain a complete registry of

all members and records/minutes of all

meetings of the Board of Directors and the

General Assembly;

b) Give notice of all meetings called;

c) Keep and maintain the Share and Trans-

fer book and serve as the custodian of the corporate seal

of the Cooperative;

d) Turn over to his successor all books, records and other

properties belonging to the Cooperative in his possession

upon the expiration/termination of his term of office; and

e) Act as Treasurer in case of the latter’s absence or inability

to perform his duties; and perform such other duties as the

Board of Directors may prescribe.

Directors, officers and committee members, who willfully and

knowingly vote for or assent to patently unlawful acts, or who

are guilty of gross negligence or bad faith in directing the

affairs of the Cooperative or acquire any personal or pecuni-

ary interest in conflict with their duties as directors, officers

or committee members shall be liable jointly and severally for

all damages resulting there from to the Cooperative, mem-

bers and other persons.

e. Management Staff are appointed by the Board of Directors

who shall also fix their compensation and tenure

of office. No management staff with

relationship up to the third civil

degree of consanguity or

affinity to any member of

Board of Directors or Offic-

ers shall be appointed or hired.

What happens if a member wants to transfer/sell his

shares?

The Cooperative shall have the first option to buy any share of-

fered for sale. If the Cooperative is not in a position or refuses to

purchase such shares, the member shall have the right to sell them

to any person eligible for membership in the Cooperative. A mem-

ber may transfer his shares if:

1) He has held such shares or interest for at least one year;

2) The transfer is made to a member of the Cooperative or

to a person who falls within the field of membership of

the Cooperative, and that said person is acceptable to the

cooperative; and

3) The Board has approved such transfer.

How is net surplus allocated and distributed?

The BOD, as approved by the General Assembly, shall allocated

and distribute its net surplus as follows:

10% = Reserve Fund ( stability and losses of cooperative)

10% (max) = Trng & Educ Fund (50% for apex cooperative)

3% (min) = Community Fund (projects or activities)

7% (max) = Optional Fund (equip, land and building, etc.)

70% = Interest on Share Capital and Patronage Refund.

How is interest on share capital and patronage refund

distributed to members?

The remaining net surplus shall be made available to the members

in the form of interest on share capital not to exceed the normal

rate of return on investments prescribed by law, and patronage

refunds. The sum allocated for patronage refund shall be made

available at the same rate to all patrons of the Cooperative in

proportion to their individual patronage. The payment of interest

on share capital and patronage refund shall be further subject to

the following rules:

1) The interest on share capital and patronage refund of a

member with fully paid share capital shall be paid to him in

cash or at his option be credited to his account as addi-

tional share capital;

2) The interest on share capital and patronage refund of a

member with unpaid share capital subscription shall be

credited to his account as payment of his unpaid subscrip-

tions until the same shall have been fully paid.

What are the current

Members Activities and

Business Investment of

Sandigan?

Members-Get-Members: Mem-

bers who registered 10 new

members will be credited 1

free share value.

Credit/Loan Operations: Members will have patronage refund and

can avail up to 80% of his/her paid up capital with 1.5% diminish-

ing interest per month.

Asset Investment: Sandigan invested 1,125,000.00 Php in PNBig

short term investment and Stocks Investment portfolio.

Sandigan-Members Partnership: Open to any Members who want

to be partner with Sandigan – contact the Business Develop-

ment Committee.

Sandigan is currently studying the top 3 business proposals—

Hatid-Sundo, Bullilit Gas Station, Marketing and Services all in

partnership with the members – implementation to start in 1st

quarter of 2013 or earlier.

Is there any Cooperative, Business, Technical Seminars

Program by Sandigan?

Yes, the Training and Education Committee have a program to

conduct regular sessions of trainings and seminars – contact the

Training and Education Committee

When can the Members get their Share Interest and

Patronage Refund?

During the Fiscal Year General Assembly Meeting held every

December or within 3 month before April of the following year

– contact the BOD Secretary or any Sandigan Officers.

How can Members help Sandigan to succeed in its goals

and objectives?

Be an active Member and get involve to the Sandigan activities.

Uphold the Sandigan Vision, Mission, practice the Coop Spirit,

Principles and Practices and above all patronize the Sandigan

business Products and Services..

“Learn, Share and Earn the Cooperative way!”

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