Minutes of Annual General Assembly 2015 Page 1 of 22 FOR HIS GLORY MULTI-PURPOSE COOPERATIVE Minutes of Annual General Assembly Meetings 2015 The General Assembly of For His Glory Multi-Purpose Cooperative (FHG MPC) held the Annual General Assembly Meetings (AGAM) on the following dates and places: Date Area of Members Venue March 14, 2015 North Luzon East, San Carlos, Pampanga, Bulacan, Bicol, HO, NCR Tramway Garden Buffet, Timog Ave., Quezon City March 21, 2015 Bacolod, Victorias, Kabankalan, Roxas Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City March 22, 2015 Cebu North, Mandaue McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City March 28, 2015 Koronadal, Tacurong, Gensan1, Gensan2 Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City March 28, 2015 Davao1, Davao1, Digos, Kidapawan, Tagum, San Francisco, Butuan, Surigao Sequioa Inn, 72-74 T. Monteverde St., Davao City The following Directors and Officers were present to spearhead the meetings: 1. Mr. Reginold D. Delos Reyes (RDR) – Vice-Chairman, Board of Directors 2. Mr. Joselito S. Peñalosa (JSP) – Member, Board of Directors 3. Mr. Marvin E. Barrieta (MEB) – Audit Committee Head 4. Mr. Jefferson T. Ng (JTNg) – Member, Board of Directors 5. Mr. Joel P. Cruz (JPC) – Member, Board of Directors 6. Mr. Ronel L. Castor (RLC) – Member, Board of Directors 7. Mr. Joel D. Clavecilla (JDC) -Member, Board of Directors 8. Mr. Jose Archie R. Cruz (JRC) - Member, Board of Directors 9. Ms. Sharon O. Dionco (SOD) – Secretary 10. Ms. Eunice Gale C. Tacastacas - Treasurer 11. Mr. Jasper T. Nazarro (JTN) – General Manager 12. Mr. Eric F. Domingo (EFD) – Elecom Head I. CALL TO ORDER, ROLL CALL, PROOF OF DUE NOTICE AND DETERMINATION OF QUORUM SOD, Coop Secretary conducted roll call and read the Proof of Due Notice of the 8th Annual General Assembly Meeting which was disseminated to members one (1) week before the scheduled meetings. Moreso, the Coop Secretary reported to the Chairman as well to the General Assembly that 535 regular members or 84% were present out of the 634 registered members in good standing & qualified to vote, therefore it constituted quorum to proceed to the Annual General Assembly Meetings. Below is the breakdown of AGA Meetings attendance. Date Venue No. of Attendees March 14, 2015 Tramway Garden Buffet, Timog Ave., Quezon City 284 March 21, 2015 Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City 32 March 22, 2015 McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City 49 March 28, 2015 Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City 56 March 28, 2015 Sequioa Inn, 72-74 T. Monteverde St., Davao City 114 Total 535
Transcript
Minutes of Annual General Assembly 2015 Page 1 of 22
FOR HIS GLORY MULTI-PURPOSE COOPERATIVE Minutes of Annual General Assembly Meetings 2015
The General Assembly of For His Glory Multi-Purpose Cooperative (FHG MPC) held the Annual General Assembly Meetings (AGAM) on the following dates and places:
Date Area of Members Venue
March 14, 2015 North Luzon East, San Carlos, Pampanga, Bulacan, Bicol, HO, NCR
Tramway Garden Buffet, Timog Ave., Quezon City
March 21, 2015 Bacolod, Victorias, Kabankalan, Roxas Middletown Inn, JR Bldg., Rizal-Lacson
St., Bacolod City
March 22, 2015 Cebu North, Mandaue McDonalds, ESMU Bldg., Jones Ave.,
Sta. Cruz, Cebu City
March 28, 2015 Koronadal, Tacurong, Gensan1, Gensan2 Mang Gorio Bahay Kainan, Abad Santos
cor. Confessor St., Brgy. Zone3, Koronadal City
March 28, 2015 Davao1, Davao1, Digos, Kidapawan, Tagum, San Francisco, Butuan, Surigao
Sequioa Inn, 72-74 T. Monteverde St., Davao City
The following Directors and Officers were present to spearhead the meetings:
1. Mr. Reginold D. Delos Reyes (RDR) – Vice-Chairman, Board of Directors 2. Mr. Joselito S. Peñalosa (JSP) – Member, Board of Directors 3. Mr. Marvin E. Barrieta (MEB) – Audit Committee Head 4. Mr. Jefferson T. Ng (JTNg) – Member, Board of Directors 5. Mr. Joel P. Cruz (JPC) – Member, Board of Directors 6. Mr. Ronel L. Castor (RLC) – Member, Board of Directors 7. Mr. Joel D. Clavecilla (JDC) -Member, Board of Directors 8. Mr. Jose Archie R. Cruz (JRC) - Member, Board of Directors 9. Ms. Sharon O. Dionco (SOD) – Secretary 10. Ms. Eunice Gale C. Tacastacas - Treasurer 11. Mr. Jasper T. Nazarro (JTN) – General Manager 12. Mr. Eric F. Domingo (EFD) – Elecom Head
I. CALL TO ORDER, ROLL CALL, PROOF OF DUE NOTICE AND DETERMINATION OF QUORUM
SOD, Coop Secretary conducted roll call and read the Proof of Due Notice of the 8th Annual General Assembly Meeting which was disseminated to members one (1) week before the scheduled meetings. Moreso, the Coop Secretary reported to the Chairman as well to the General Assembly that 535 regular members or 84% were present out of the 634 registered members in good standing & qualified to vote, therefore it constituted quorum to proceed to the Annual General Assembly Meetings. Below is the breakdown of AGA Meetings attendance.
Date Venue No. of Attendees
March 14, 2015 Tramway Garden Buffet, Timog Ave., Quezon City 284
March 21, 2015 Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City
32
March 22, 2015 McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City
49
March 28, 2015 Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City
56
March 28, 2015 Sequioa Inn, 72-74 T. Monteverde St., Davao City 114
Total 535
Minutes of Annual General Assembly 2015 Page 2 of 22
II. APPROVAL OF THE AGENDA
RRD, Chairman informed the General Assembly of the following agenda of the AGAM:
1. Approval of Minutes of the Previous General Assembly Meeting 2. Ratification of Approved Board Resolutions for 2014 3. Chairman and Committee Reports 4. Management & Financial Reports 5. Business Plan 2015-2020 6. Budget 2015 7. New Business and Other Matters
a. Maxicare Presentation
Motion to approve and seconded were given by the following members:
Venue of Meeting Motion Seconded
Tramway Garden Buffet, Timog Ave., Quezon City Margaret Rose
Rodriguez Marietta Japson
Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City Rhodora Baranal Evelyn Baguhin
McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City
Marieta Amaya Faith Ruego
Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City
Charmie Ariela Beberlin Ranes
Sequioa Inn, 72-74 T. Monteverde St., Davao City Crismar Escalon Maribeth Pabayos
There were no objections to the motion with the majority approval of the general assembly.
III. APPROVAL OF MINUTES OF PREVIOUS GENERAL ASSEMBLY MEETING There was a motion by Jeyferson Dominicil seconded by Lea Domingo to dispense the reading of the minutes of the previous general assembly meeting for the Quezon City General Assembly Meeting. Silent reading for five (5) minutes of the minutes of the previous General Assembly meeting because e-copy was already provided to all members by Coop Management. Motion to approve the minutes of the previous General Assembly meeting were given by the following members:
Venue of Meeting Motion Seconded
Tramway Garden Buffet, Timog Ave., Quezon City Ma. Cristina Ramos Margaret Rose
Rodriguez
Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City
McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City
Cris Joy Ropecio Mary Joy Morallon
Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City
Jeanmar Labanero Mary Joy Francisco
Sequioa Inn, 72-74 T. Monteverde St., Davao City Reynaldo Cayao Mae Ann Eltagonde
There were no objections to the motion with the majority approval of the general assembly.
IV. MATTER’S ARISING FROM THE MINUTES OF THE PREVIOUS MEETING There were no matters arising from the minutes of the previous General Assembly meeting.
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V. RATIFICATION OF APPROVED BOARD RESOLUTIONS FOR 2014 Chairman presented to the General Assembly the approved Board Resolutions for year 2014 which shall be ratified for approval as follows:
Board Resolution
No.
Title Date
2014-01 Approve on the motion of Joselito S. Penalosa, seconded by Jefferson T. Ng, the set agenda for the Board of Directors special meeting dated March 25, 2014
March 25, 2014
2014-02 Approve on the motion of Hector H. Celajes Jr., seconded by Jefferson T. Ng, accepting the five (5) regular and one (1) associate applications for membership to the Coop.
March 25, 2014
2014-03
Approves on the motion of Joselito S. Penalosa, seconded by Jefferson T. Ng, accepting the Ninety Two (92) co-terminus resignation of membership to the Coop from December 2013 to March 25, 2014.
March 25, 2014
2014-04
Approve on the motion of Joselito S. Penalosa, seconded by Hector H. Celajes Jr., ensuring security and safety of members who will attend the Annual General Assembly meeting, to wit: 1. Hiring of three (3) security guards 2. Avail Legal Services of Attorney
March 25, 2014
2014-05
Approve on the motion of Jefferson T. Ng, seconded by Hector H. Celajes Jr., the re-scheduling of the Annual General Assembly Meeting, to wit: FROM TO AREA April 5, 2014 May 3, 2014 Mindanao April 12, 2014 May 10, 2014 Visayas April 26, 2014 May 17, 2014 Luzon
March 25, 2014
2014-06 Approve on the motion of Joselito S. Penalosa, seconded by Jefferson T. Ng, the set agenda for the Board of Directors emergency meeting dated April 10, 2014.
April 10, 2014
2014-07 Approves on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, approving the termination of membership of the Forty Four (44) members to the Coop.
April 10, 2014
2014-08
Approve on the motion of Reginold D. Delos Reyes, seconded by Hector H. Celajes Jr., the appointment of the following members to spearhead the Conciliation and Mediation Committee effective April 10, 2014: 1. Anselmo Edwin B. Aruelo 2. Rachelle M. Basiya 3. Maylanie Apawan 4. Occena, Maria Fiorella A. 5. Japson, Marietta 6. Bayaca, Hazel Christine R.
April 10, 2014
2014-09 Approve on the motion of Jefferson Ng, seconded by Reginold D. Delos Reyes, the set agenda for the Board of Directors special meeting dated May 3, 2014.
May 3, 2014
2014-10 Approve on the motion of Hector H. Celajes Jr., seconded by Joselito Penalosa, the early release of the Coop staff 13th month pay covering January to June 2014 on May 13, 2014.
May 3, 2014
2014-11 Approve on the motion of Hector H. Celajes Jr., seconded by Jefferson T. Ng, the budget of Php10,000 for the Team Building activity of the Coop staff on May 23, 2014.
May 3, 2014
2014-12
Approve on the motion of Jefferson T. Ng., seconded by Reginold D. Delos Reyes, the re-implementation of the Summer loan product on May 12, 2014 until May 30, 2014 following the approved policies and guidelines.
May 3, 2014
2014-13
Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the participation of the Coop in the Annual General Assembly Meeting of NATCCO on May 23-25, 2014 at Plaza Del Norte, Laoag City represented by the Board of Directors namely Reginold D. Delos Reyes and Ronel L. Castor instead of Joselito S. Penalosa and Hector H. Celajes Jr.
May 3, 2014
2014-14 Approve on the motion of Jefferson T. Ng, seconded by Joselito S. May 10, 2014
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Penalosa, the following agenda on the special meeting dated May 10, 2014.
2014-15
Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the provision of per diem to Board of Directors and officers who shall be on employment leave during attendance to any Coop functions and activities retroactive on May 2, 2014, to wit: Weekdays – 100% of per diem (Php500) Weekends - 50% of per diem (Php250)
May 10, 2014
2014-16
Approve on the motion of Jefferson T. Ng, seconded by Joselito S. Penalosa, the establishing a Wellness Business for the Coop considering an extensive study had been done by the General Manager.
May 10, 2014
2014-17 Approve on the motion of Jefferson T. Ng, seconded by Joselito S. Penalosa, the following agenda on the special meeting dated May 16, 2014
May 16, 2014
2014-18
Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the acceptance of member’s resignation from the Coop and implementing the following considerations: 1. Members who submitted resignation to Coop but not terminated by KMBI – Release Capital contributions net of loan balances and fidelity bond. 2. Appeal to KMBI Board of Trustees represented by the Coop Chairman that accountability of terminated members shall be within the Php20k and Php10k limit only.
May 16, 2014
2014-19 Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the set agenda for the Board of Directors special meeting dated May 21, 2014.
May 21, 2014
2014-20 Approve on the motion of Joselito S. Penalosa, seconded by Reginold D. Delos Reyes, the termination of Investment amounting to Php3,815,000 from NATCCO effective May 22, 2014.
May 21, 2014
2014-21
Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the provision of institutional loan to KMBI amounting to Php5M under market prevailing interest rate of 10% per annum payable to one (1) year.
May 21, 2014
2014-22 Approve on the motion of Jefferson T. Ng, seconded by Marvin E. Barrieta, to dispense the secret balloting in the election of Chairman and Vice-chairman.
May 28, 2014
2014-23
Approve on the motion of Jefferson T. Ng, seconded by Joselito S. Penalosa, and with majority votes of the Board of Directors that the new set of BOD officers shall be: Rizaldy R. Duque Chairperson Reginold D. Delos Reyes Vice-Chairperson and Ex-officio Education and Membership Committee Chairman
May 28, 2014
2014-24
Approve on the motion of Joselito S. Penalosa, seconded by Jefferson T. Ng that the following directors and officers shall be assigned as new official signatories for bank checks debit memos, investments and other bank documents: Primary Signatories: Jefferson T. Ng Reginold D. Delos Reyes Joel P. Cruz Co-Signatories: Marvin E. Barrieta Ronel L. Castor Jasper T. Nazarro
May 28, 2014
2014-25
Approve on the motion of Jefferson T. Ng, seconded by Reginold D. Delos Reyes, to declare appreciation for the valuable contribution of Hector H. Celajes Jr. as Board of Director of FHG MPC.
May 28, 2014
2014-26
Approve on the motion of Jefferson T. Ng, seconded by Reginold D. Delos Reyes, that the following Banks shall be the new authorized servicing bank of the Coop: 1. Bank of Commerce 2. Philippine National Bank
May 28, 2014
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2014-27 Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the set agenda for the Board of Directors special meeting dated May 28, 2014.
May 28, 2014
2014-28 Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the set agenda for the Board of Directors regular meeting dated June 14, 2014.
June 14, 2014
2014-29
Approve on the motion of Reginold R. Delos Reyes, approved by Joselito S. Penalosa and seconded by Joel D. Clavecilla, that the terminated/hostile members are barred from entering the Coop office.
June 14, 2014
2014-30 Approve on the motion of Jefferson T. Ng, seconded by Ronel L. Castor, accepting the fifty-five (55) regular and four (4) associate applications for membership to the Coop.
June 14, 2014
2014-31 Approve on the motion of Marvin E. Barrieta, seconded by Joel P. Cruz, accepting the fifteen (15) co-terminus resigned and fifty-one (51) terminated members to the Coop.
June 14, 2014
2014-32 Approve on the motion of Joselito S. Penalosa, seconded by Jefferson T. Ng, terminating the two hundred seventy five (275) memberships to the Coop effective June 12, 2014.
June 14, 2014
2014-33 Approve on the motion of Jefferson T. Ng and seconded by Joselito S. Penalosa, the approval of the General Manager’s report but subject to adjustments and corrections.
June 14, 2014
2014-34
Approve on the motion of Joel D. Clavecilla and seconded by Marvin E. Barrieta, that Coop shall give ultimatum until June 17, 2014 to KMBI through Hazel R. Bayaca, regarding the provision of 5M loan. Otherwise, Coop shall cancel the provision and bill the opportunity cost of not releasing the said loan starting from the cheque payment was made.
June 14, 2014
2014-35 Approve on the motion of Jefferson T. Ng, seconded by Joel P. Cruz, the set agenda for the Board of Directors regular meeting dated July 12, 2014
July 12, 2014
2014-36 Approve on the motion of Joselito S. Penalosa, seconded by Marvin E. Barrieta, accepting the six (6) co-terminus resigned members to the Coop.
July 12, 2014
2014-37 Approve on the motion of Marvin E. Barrieta and seconded by Jefferson T. Ng, the approval of the General Manager’s report but subject to adjustments and corrections.
July 12, 2014
2014-38 Approve on the motion of Joselito S. Penalosa and seconded by Joel D. Clavecilla, to adapt the Cooperative Values as FHG MPC Core Values.
July 12, 2014
2014-39
Approve on the motion of Ronel L. Castor and seconded by Joel P. Cruz, that issuance of Board Resolution to all Coop authorized Banks to protect the coop bank accounts from any attempt from terminated/hostile members to hold/closed the said bank accounts.
July 12, 2014
2014-40
Approve on the motion of Ronel L. Castor and seconded by Jefferson T. Ng, the implementation of Patronage Loan for 50K members club effective July 14, 2014 following policies and guidelines.
July 12, 2014
2014-41
Approve on the motion of Joselito S. Penalosa and seconded by Marvin E. Barrieta, the establishment of the Coop Fitness/Wellness Center which is in principle but subject to further study of the Business Development Committee.
July 12, 2014
2014-42 Approve on the motion of Joel D. Clavecilla, seconded by Jefferson T. Ng, the set agenda for the Board of Directors special meeting dated July 25, 2014,
July 25, 2014
2014-43
Approve on the motion of Ronel L. Castor, seconded by Joel D. Clavecilla, the appointment of Jose Archie R. Cruz as the new Board of Director of the Coop having a term effective July 25, 2014 until the next Annual General Assembly meeting.
July 25, 2014
2014-44 Approve on the motion of Jefferson T. Ng, seconded by Joel P. Cruz, the set agenda for the Board of Directors regular meeting dated August 9, 2014
August 9, 2014
2014-45 Approve on the motion Joselito S. Penalosa, seconded by Joel P. Cruz, the Minutes of the Previous Board Regular Meeting last July 12, 2014.
August 9, 2014
2014-46 Approve on the motion of Joel D. Clavecilla, seconded by Ronel L. August 9, 2014
Minutes of Annual General Assembly 2015 Page 6 of 22
Castor, accepting the one (1) regular application for membership to the Coop
2014-47 Approve on the motion of Joel D. Clavecilla, seconded by Jose Archie R. Cruz, accepting the six (6) co-terminus resigned members to the Coop
August 9, 2014
2014-48
approve on the motion of Marvin E. Barrieta and seconded by Joel D. Clavecilla, to propose to KMBI Board of Trustees through the initiative of RRD to provide accountability clearance for Program Assistant positions for them to claim the Coop contributions and to propose as well that Fidelity Bond for Rank in File be Php20,000 and Officers be Php40,000 payable to 4 years.
August 9, 2014
2014-49 Approve on the motion of Joselito S. Penalosa and seconded by Jose Archie R. Cruz, the approval of the General Manager’s report.
August 9, 2014
2014-50
Approve on the motion of Reginold D. Delos Reyes and seconded by Ronel L. Castor, the issuance of Board Certificate to NATCCO to seize from acting as mediator between the Coop and the terminated members.
August 9, 2014
2014-51 Approve on the motion of Joselito S. Penalosa, seconded by Joel D. Clavecilla, the set agenda for the Board of Directors regular meeting dated September 13, 2014,
September 13, 2014
2014-52 Approve on the motion of Joel D. Clavecilla, seconded by Ronel L. Castor, accepting the one (1) regular application for membership to the Coop
September 13, 2014
2014-53 Approve on the motion of Marvin E. Barrieta, seconded by Jose Archie R. Cruz, accepting the four (4) co-terminus resigned members to the Coop
September 13, 2014
2014-54 Approve on the motion of Ronel L. Castor and seconded by Joel D. Clavecilla, the approval of the General Manager’s report provided all corrections have been incorporated.
September 13, 2014
2014-55
Approve on the motion of Joel D. Clavecilla and seconded by Joel P. Cruz, the General Manager’s participation at the 1st Metro Manila Coop Summit at Mall of Asia, Pasay City on September 26, 2014.
September 13, 2014
2014-56
Approve on the motion of Joel P. Cruz and seconded by Joel D. Clavecilla, the reinstatement of terminated members following the establish guidelines: 1. Recommended by the management and BOD will approve. 2. Pay the equivalent delinquent months. 3. Tenure of membership shall be back to zero. 4. Availment of new loan shall be noted by the ethics committee.
September 13, 2014
2014-57
Approve on the motion of Ronel L. Castor and seconded by Joel D. Clavecilla, the approval of new features for the following loan products: Petty Cash Loan 1. No maker is required, if the amount to be loaned is equal or higher the SC. Educational Loan 1. Can avail up to four (4) loan availment per year within the credit limit. 2. Loan term two (2) years.
September 13, 2014
2014-58 Approve on the motion of Jefferson T. Ng, seconded by Joel P. Cruz, the set agenda for the Board of Directors regular meeting dated October 11, 2014,
October 11, 2014
2014-59 approve on the motion of Marvin E. Barrieta, seconded by Joselito S. Penalosa, acceptance and approval of the minutes of the previous meeting held last September 13, 2014.
October 11, 2014
2014-60 Approve on the motion of Joselito S. Penalosa, seconded by Joel D. Clavecilla, accepting the twelve (12) regular application for membership to the Coop:
October 11, 2014
2014-61 Approve on the motion of Ronel L. Castor, seconded by Jefferson T. Ng, accepting the five (5) co-terminus resigned members and eleven (11) terminated members of the Coop
October 11, 2014
2014-62 Approve on the motion of Marvin E. Barrieta, seconded by Joselito S. Penalosa, requiring all existing members and new members to accomplish and sign the affidavit of undertaking to protect the
October 11, 2014
Minutes of Annual General Assembly 2015 Page 7 of 22
welfare of the members and the Coop.
2014-63 Approve on the motion of Reginold R. Delos Reyes, seconded by Ronel L. Castor, acceptance of the General Managers’ Report.
October 11, 2014
2014-64
Approve on the motion of Joselito S. Penalosa, seconded by Jose Archie R. Cruz, the implementation of the Community Development Project dubbed “Adopt a Daycare Center” from November 1 to December 5, 2014.
October 11, 2014
2014-65
Approve on the motion of Jefferson T. Ng, seconded by Joel P. Cruz, the implementation Wellness Loan Program – Water Purifier together with partnership with Unilever Pureit Philippines and Waters Philippines Inc.
October 11, 2014
2014-66 Approve on the motion of Joel D. Clavecilla, seconded by Jose Archie R. Cruz, accepting the FHG Circuit Hub as the business name for the wellness center of the Coop.
October 11, 2014
2014-67 Approve on the motion of Ronel L. Castor, seconded by Jose Archie R. Cruz, the set agenda for the Board of Directors special meeting dated October 17, 2014,
October 27, 2014
2014-68 Approve on the motion of Reginold D. Delos Reyes, seconded by Ronel L. Castor, the additional budget for the FHG Circuit Hub amounting to Php350,000.
October 27, 2014
2014-69
Approve on the motion of Reginold D. Delos Reyes, seconded by Jefferson T. Ng, the conduct of Strategic Planning on November 14-16, 2014 at CSFCI Inn, Baguio City with a total budget of Php175,000.
October 27, 2014
2014-70 Approve on the motion of Joselito S. Penalosa, seconded by Jefferson T. Ng, the set agenda for the Board of Directors regular meeting dated November 8, 2014
November 8, 2014
2014-71 Approve on the motion of Jose Archie R. Cruz, seconded by Joel D. Clavecilla, accepting the twelve (12) regular applications for membership to the Coop
November 8, 2014
2014-72 Approve on the motion of Ronel L. Castor, seconded by Jefferson T. Ng, accepting the eleven (11) co-terminus resigned members of the Coop
November 8, 2014
2014-73
Approve on the motion of Marvin E. Barrieta, seconded by Jefferson T. Ng, to pre-terminated and replace the existing security agency with SNS security agency effective November 12, 2014.
November 8, 2014
2014-74 Approve on the motion of Marvin E. Barrieta, seconded by Jefferson T. Ng, to revise the Affidavit of Undertaking based on legal implications and concerns.
November 8, 2014
2014-75 Approve on the motion of Joselito S. Penalosa, seconded by Joel D. Clavecilla, the set agenda for the Board of Directors regular meeting dated December 13, 2014,
December 13, 2014
2014-76 Approve on the motion of Jose Archie R. Cruz, seconded by Ronel L. Castor, accepting the fourteen (14) regular applications for membership to the Coop
December 13, 2014
2014-77 Approve on the motion of Marvin E. Barrieta, seconded by Ronel L. Castor, accepting the nine (9) co-terminus resigned members of the Coop:
December 13, 2014
2014-78 Approve on the motion of Jose Archie R. Cruz, seconded by Joselito S. Penalosa, the acceptance and approval of the minutes of the previous meeting last November 8, 2014.
December 13, 2014
2014-79 Approve on the motion of Joselito S. Penalosa, seconded by Joel P. Cruz, the acceptance and approval of the General Manager’s Report for November 2014.
December 13, 2014
2014-80 Approve on the motion of Joel P. Cruz, seconded by Marvin E. Barrieta, the implementation of the new Wellness Loan Program – Fitness Enrollment effective December 15, 2014.
December 13, 2014
2014-81
Approve on the motion of Ronel L. Castor, seconded by Jose Archie R. Cruz, the approval in principle the of the new Wellness Loan Program – Innoss Cookware after service level agreement have been finalized with Innoss Philippines Inc..
December 13, 2014
2014-82 Approve on the motion of Jose Archie D. Cruz, seconded by Joel D. Clavecilla, the set agenda for the Board of Directors special meeting dated December 16, 2014
December 16, 2014
2014-83 Approve on the motion of Joselito S. Penalosa, seconded by Jose December 16, 2014
Minutes of Annual General Assembly 2015 Page 8 of 22
Archie D. Cruz, the provision of Christmas gift to thirteen (13) FHG Circuit Hub coaches amounting to Php20,000 to be divided equally which is coming from the Team Building fund.
2014-84
Approve on the motion of Ronel L. Castor, seconded by Jefferson T. Ng, the provision of Christmas gift to all Coop staff which is 50% of their Salary except for the General Manager that is fixed amount of Php10,000 that will be released on December 19, 2014.
December 16, 2014
Motion to approve the eighty four (84) board resolutions for 2014 were given by the following members:
Venue of Meeting Motion Seconded
Tramway Garden Buffet, Timog Ave., Quezon City Jenalyn Penalosa Edwin Relativo
Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City Mary Jean Jacinto Vanessa Gimena
McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City
Sheila Dianne Ostrea Elizabeth Bernaldez
Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City
Mary Joy Francisco Michelle Pascual
Sequioa Inn, 72-74 T. Monteverde St., Davao City Cresmar Escalon Amelita Andilab
There were no objections to the motion with the majority approval of the general assembly.
VI. CHAIRMAN’S AND COMMITTEE REPORTS Chairman reported to the General Assembly the following accomplishment, concerns and plans of the Board of Directors:
1. Two (2) attempts to close all bank accounts of the Coop. 2. Filed complaints to CDA. 3. Sought help to NATCCO to facilitate the complaints.
Actions made by the Board of Directors
1. Board of Directors issued a board certification to all banks for them to be guided. 2. CDA forwarded their complaints back to FHG MPC to be facilitated by the Mediation and
Conciliation Committee. 3. Issued a Board Resolution to NATCCO.
Minutes of Annual General Assembly 2015 Page 9 of 22
Accomplishments 1. Approved on the opening of new business – FHG CIRCUIT HUB. 2. New loan products
a. Patronage Loan b. Wellness Loan Program
i. Water purifier ii. Fitness Enrollment iii. Innoss Cookware
3. 84 Board Resolutions Approved 4. Conduct of Strategic Planning focused on being mission true (Plans and Programs geared towards
Spiritual and Wellness) Future Plans
1. Wholistic Transformation of Members. 2. Creation of program and activities to realize the wholistic transformation. 3. Deepen the member’s/owner’s understanding of what we stand for. 4. How can the Coop make a difference in the lives of others. 5. In summary, together it is our vision “TO BE CHANGED BY CHRIST AND TO CHANGE OTHERS
THROUGH CHRIST FOR HIS GLORY ALONE”. No committee reports were presented due to all concerns and details are already incorporated in the Chairman’s Report and Management Report. Motion to approve the Chairman’s and Committee Reports were given by the following members:
Venue of Meeting Motion Seconded
Tramway Garden Buffet, Timog Ave., Quezon City Princes Dacca Lea Domingo
Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City Kenneth Ascura Mary Jean Jacinto
McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City
Shiela Diane Ostrea Elizabeth Bernaldez
Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City
Liza Nepomuceno Sheillah Tanawan
Sequioa Inn, 72-74 T. Monteverde St., Davao City Mae Ann Eltagonde Reynaldo Cayao
There were no more objections or clarifications to the motion with the majority approval of the
general assembly.
VII. MANAGEMENT REPORT 2015
Financial Condition
Account 2014 2013 % of Increase
Assets 35,711,161.01 46,471,134.87 (23%)
Liabilities 15,354,293.38 9,288,513.68 65%
Members’ Equity 17,139,830.49 34,283,800.00 (50%)
Statutory Funds 3,217,037.14 2,898,821.19 (11%)
Year 2014
Share Cap.
17,318,892.64
Savings 648,972.01
L/R 14,608,251.62
A/R 2,303,211.69
Implications on decrease of Financial Condition 1. Adjustment on accounts of terminated members
(offsetting/write-off). 2. Decrease in patronage of credit services. 3. Increase in liabilities.
Minutes of Annual General Assembly 2015 Page 10 of 22
Cash and Investments
Particular 2014 2013
Cash & Cash Equivalents 4,247,127.19 5,229,730.75
Investments 3,501,763.29 8,426,455.32
Total 7,748,890.48 13,656,186.07
Dividends (1,701,887.37) (4,510,595.43)
Cash Available for Operation 6,047,003.11 9,145,590.64
Results of Operation
Account 2014 2013 % Increase
Revenues 7,231,814.28 9,991,656.13 (27%)
Expenses 5,021,570.94 4,133,739.99 21%
Net Surplus 2,210,243.84 5,857,916.14 (63%)
No. of members 633 1,027 (38%)
Average Dividend 3,491.70 5,703.91 (38%)
Year 2014 2013
Net Surplus for Distribution 100% 2,210,243.34 5,857,916.14
Reserve Fund 10% 221,024.33 585,791.62
Coop. Education & Training Fund 5% 110,512.16 292,895.80
Optional Fund – Land & Building 5% 66,307.30 175,737.48
Optional Fund –Community Development 3% 110,512.17 292,895.81
Net Surplus for Distribution before ISC&PR 82% 1,701,887.37 4,510,595.43
Year 2014 2013
Net Surplus for Distribution before ISC & PR 100% 1,701,887.37 4,510,595.43
Interest on Share Capital 70% 1,191,321.16 3,157,416.80
Patronage Refund 30% 510,566.21 1,353,178.63
A/P (5,494,807.04)
Savings (637,245.82)
Income 564,756.58
Minutes of Annual General Assembly 2015 Page 11 of 22
Net Surplus 2,179,562.89 145,807.20 (115,126.75) 2,210,243.34
% 99% 6% -5% 100%
Loan Receivables
Particular 2014 2013
Current 21,077,588.65 28,646,533.25
Past Due 883,458.17 2,344,359.79
Restructured 12,986.04 -
Total 21,974,032.86 30,990,893.04
Allowance for Probable Losses (585,405.90) (820,525.95)
Loan Receivable,Net 21,388,626.96 30,170,367.09
Total Assets 35,711,161.01 46,471,134.87
L/R to Asset Ratio 60% 65%
Loan Disbursements
Year 2014 2013 %
Total Loan Amounts 35,193,568.69 57,095,495.97
(38%)
Difference (21,901,927.28)
No. of Members 623
1027
Ave. Loan Disburse per Member 56,490.48 55,594.44 2%
Minutes of Annual General Assembly 2015 Page 12 of 22
Operational Indicators
Particular Target/Standard Actual
Operational Self-sufficiency 120% 144%
Average Loan Disbursement per member 30,000.00 56,400.00
Average Share Capital per member 20,000.00 27,077.14
Average Savings Deposit per member 2,500.00 2,843.22
Savings Deposit to Asset Ratio 55%-65% 12.60%
Volume of Business to Total Assets 100% 102.33%
Solvency 110% 127.3%
Liquidity 10%-30% 40.11%
Turn-over Ratio 4x and more 1.33
Administrative Efficiency 10% and below 11%
Financial Indicators
Business Developments
Business, Loan Products and Services Effectivity
Re-implementation of Summer Loan May 3, 2014
Patronage Loan for 50K Club members July 14, 2014
Renewal of Group Life Insurance for Regular and Family Members August 9, 2014
Petty Cash Loan – no comaker required September 13, 2014
Educational Loan – 4 availments in a year September 13, 2014
Wellness Loan Program – Water Purifier October 11, 2014
FHG Circuit Hub Business (Wellness Center) November 10, 2014
Wellness Loan Program – Fitness Enrollment December 12, 2014
Comments/Concerns:
a. Associate members clarification – PMES and enrollment. Action point: Info Dissemination b. Members who have joined the other group. Action point: Termination/Resignation
Motion to approve the Management and Financial Reports for 2014 was given by the following members:
Venue of Meeting Motion Seconded
Tramway Garden Buffet, Timog Ave., Quezon City Margaret Rose
Rodriguez Princes Dacca
Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City Daisy Ledoma Mary Jean Jacinto
McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City
Ryan Bacunawa Rosalie Bantilan
Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City
Ednalyn Hospital Artchie Deguito
Sequioa Inn, 72-74 T. Monteverde St., Davao City Michael Durango Amelita Andilab
There were no more objections or clarifications to the motion with the majority approval of the
general assembly.
Particular Target/Standard Actual
Total Revenues 9,000,000.00 7,231,814.28
Net Surplus 2,000,000.00 2,210,243.34
Statutory Funds 560,000.00 618,868.13
Interest on Share Capital 1,008,000.00 1,191,321.16
Patronage Refund 432,000.00 510,566.21
Members’ Equity to Total Asset 40%-50% 53%
Percentage of Non-Earning Asset to Total Assets 10% and below 18%
Minutes of Annual General Assembly 2015 Page 13 of 22
VIII. BUSINESS PLAN 2015-2020
OUR VISION To be changed by Christ and change others through us by Christ For His Glory alone.
OUR MISSION FHG provides ethical customer-driven financial and basic consumer products and services to transform the
socio-economic life of the investing members. CORE VALUES
Self-Help Self-Responsibility
Solidarity Social Responsibility
Equality Equity
Honesty Openness
Democracy Caring for Others
FHG MPC STRATEGY MAP 2015-2020
PERSPECTIVE RESULTS KEY RESULT AREA
SPIRITUAL SPIRITUAL RESULTS
SEE CHANGE IN SPIRITUAL LIFE OF MEMBERS
SOCIAL SOCIAL RESULTS
TRANSFORMED ECONOMIC CONDITION OF MEMBERS
ATTAIN HEALTHY FAMILY
REACHING OTHERS
FINANCIAL FINANCIAL RESULTS
ENSURE OPERATIONAL EFFICIENCY
IMPROVE PORTFOLIO QUALITY
INCREASE MEMBERSHIP
ENSURE BUSINESS CONTINUITY
CUSTOMER
CUSTOMERS VALUE PROPOSITION
MISSION TRUE COOP
READILY ACCESSIBLE MEMBERS INFORMATION
ACHIEVE MEMBER'S DELIGHT
STRATEGIC PARTNERSHIP VALUE PROPOSITION BEST RETURN ON PARTNER'S INVESTMENT
INTERNAL BUSINESS
OPERATIONS MANAGEMENT
IMPROVE NEW BUSINESS AND PRODUCT DEVELOPMENT PROCESS
ENSURE MUTUALLY BENEFICIAL PARTNERSHIPS
ENSURE DELIVERY OF SERVICES TO MEMBERS
CUSTOMER'S MANAGEMENT ENSURE RESPONSIVE DELIVERY OF SERVICES AND CARE TO
MEMBERS
INNOVATION DEVELOP NEW CREDIT AND NON-CREDIT PRODUCTS AND
BUSINESSES TO IMPROVE WELLNESS AND SPIRITUAL DEVELOPMENT
LEARNING AND GROWTH
HUMAN CAPITAL INSTITUTIONALIZE EFFECTIVE PERFORMANCE
MANAGEMENT SYSTEM
CLOSE SKILLS GAP
INFORMATION AND TECHNOLOGY CAPITAL
MAXIMIZE USAGE OF APPROPRIATE TECHNOLOGY
FHG MPC COOPERATIVE IDEALS
Minutes of Annual General Assembly 2015 Page 14 of 22
ORGANIZATIONAL CAPACITY
INCREASE BRAND (FHG MPC) AWARENESS
STEP UP BOARD EXPERTISE
PROMOTE CHRIST-CENTERED CULTURE
ACCELERATE BOARD LEVEL GOVERNANCE
EFFECTIVE COOP COMMUNICATION
FHG MPC ORGANIZATIONAL ASSUMPTIONS 2015-2020
I. OPERATIONS
A. Members/Clients
Business 2015 2016 2017
Credit - Member 800 1,050 1,300
Tours & Travel-
Availments
2,000 3,000 4,500
Circuit Hub-Availments 2,400 3,600 5,400
B. Products/Services & Business
Business 2015 2016 2017
Credit Regular Loans
Promotional Loans
Wellness Loan Program-
Regular Loans
Promotional Loans
Wellness Loan Program
Ministries/Biblical Studies Loan
Regular Loans
Promotional Loans
Wellness Loan Program
Ministries/Biblical Studies Loan
Tours & Travel Ticketing
Land Tours
Domestic Tours
Educational Tours
International Packages
Transportation Rental
VISA Assistance
NSO Documentation
Ticketing
Land Tours
Domestic Tours
Educational Tours
International Packages
Transportation Rental
VISA Assistance
NSO Documentation
Ticketing
Land Tours
Domestic Tours
Educational Tours
International Packages
Transportation Rental
VISA Assistance
NSO Documentation
Circuit Hub Personal Trainings
Daily/Monthly/Yearly
Company GX
CH Health Corner
Personal Trainings
Daily/Monthly/Yearly
Company GX
CH Health Corner
Personal Trainings
Daily/Monthly/Yearly
Company GX
CH Health Corner
C. Offices 1. Main Office – Valenzuela City 2. Satellite Office – Mindanao (2017) 3. Satellite Office – South Luzon (2018) 4. Satellite Office – North Luzon (2019)
D. Target Non-Credit Clients (Family Members) 1. HMO – 100 to 600 persons 2. Dental Benefits – 100 to 600 persons 3. Insurance – 600 persons
Minutes of Annual General Assembly 2015 Page 15 of 22
II. MANPOWER PROJECTIONS
Department/Business 2014 2015 2016 2017
Ending Hiring Ending Hiring Ending Hiring Ending
Management 1 2 3 0 3 0 3
Finance & Acctg. 3 0 3 0 3 0 3
Admin/HR 4 0 4 1 5 0 5
Credit & Collection 2 0 2 1 3 0 3
Tours & Travel 1 1 2 0 2 0 2
Circuit Hub 0 3 3 0 3 0 3
Satellite Office 0 0 0 0 0 5 5
Total 11 6 17 2 19 5 24
III. ACTIVITIES FOR 2015 – PHP658,000 A. Spiritual and Social transformation
Activities Budget
Annual Worship Night 55,000
Financial Literacy Bookset + CD 50,000
Total 105,000
B. Community Development
Activities Budget
Adopt A Daycare Center 220,000
Total 220,000
C. Health & Wellness
Activities Budget
Biggest Loser Campaign 50,000
Total 50,000
D. Staff and Board Training & Developments
Activities Target Audience Amount
Compliance Trainings Board of Directors/Officers 100,000
Executive Leadership GM/Supervisors 20,000
Staff Development Staff 50,000
Teambuilding All Staff 30,000
Total 200,000
E. Finance & Accounting
Activities Budget
Annual External Audit 20,000
Internal Audit Engagement 6,000
Total 26,000
Minutes of Annual General Assembly 2015 Page 16 of 22
F. Information Technology
Activities Budget
Web-based consultation 6,000
Total 6,000
G. Research and Development
Activities Budget
Operational Manual Development 3,000
Exposure / Mentoring 5,000
Total 8,000
H. Cooperative Events and Communication
Activities Budget
Cooperative Annual Report 3,000
Christmas Party 10,000
Total 13,000
I. Cooperative Planning & Systems Review – Php30,000
Minutes of Annual General Assembly 2015 Page 21 of 22
OPERATIONAL INDICATORS 2015 Operational Self-sufficiency 120% Average Loan Disbursement per member 50,000.00 Average Share Capital per member 25,000.00 Average Savings Deposit per member 2,500.00 Savings Deposit to Asset Ratio 55%-65% Volume of Business to Total Assets 100% Solvency 110% Liquidity 10%-30% Turn-over Ratio 4x and more Administrative Efficiency 10% and below FINANCIAL INDICATORS 2015 Total Revenues 10,400,000.00 Net Surplus 1,700,000.00 Statutory Funds 405,000.00 Interest on Share Capital 949,000.00 Patronage Refund 407,000.00 Members’ Equity to Total Asset 40%-50% Percentage of Non-Earning Asset to Total Assets 10% and below Receivable to Total Assets 60%-70%
Motion to approve the Financial Budget for the year 2015 was given by the following members:
Venue of Meeting Motion Seconded
Tramway Garden Buffet, Timog Ave., Quezon City Ronwaldo Viray Marietta Japson
Middletown Inn, JR Bldg., Rizal-Lacson St., Bacolod City Johanna Octava Teodoro Amores
McDonalds, ESMU Bldg., Jones Ave., Sta. Cruz, Cebu City
Gerlie Garcia Marieta Amaya
Mang Gorio Bahay Kainan, Abad Santos cor. Confessor St., Brgy. Zone3, Koronadal City
Mary Joy Francisco Jannie Sales
Sequioa Inn, 72-74 T. Monteverde St., Davao City Ricardo Mantalaba Janet Subaldo
There were no objections to the motion with the majority approval of the general assembly.
X. OTHER MATTERS
1. Maxicare product presentation was done to inform the members on their HMO benefit and privileges.
Other Comments/Clarifications:
1. Mr. Ron Viray clarified on the matter concerning fund allotment for the Land & Building of the Coop. It was answered by the GM that it is already funded by the Coop through the Optional Fund – Land & Building by 5% of the Net Surplus every year.
2. Question raised by Marietta Japson on why the Board of Directors and Officers will travel to Korea? GM answered by giving the objective and benefits of the coop exposure to South Korea.
3. Abelardo Tejada requested that copy of updated guidelines, policies and services shall be provided to each member for their reference.
4. Evelyn Francisco requested that there would be time allotted for the detailed explanation for new products and services of the Coop.
5. Maritess Lamintao requested that the Authority to Deduct form shall be included in the Website or send thru email to members.
6. Rhodora Baranal requested that there should be provision of housing loan that is beyond the credit limit policy.
Minutes of Annual General Assembly 2015 Page 22 of 22
XI. ELECTION PROPER There was 100% voter’s turnover based on 535 registered voters present. Results of the said election are as shown below:
Rank Name Votes
Board of Directors
1. NG, JEFFERSON 449
2. CLAVECILLA, JOEL 389
3. TACASTACAS, EUNICE 362
4. CUREG, WILLIAM 351
The Board of Directors shall serve for two (2) years. The said Officers shall assume office starting at eight
o’clock in the morning of April 11, 2015 as prescribed under article 2,section 12 of the Cooperative Election
Code.
XII. ADJOURNMENT There being no further business to come before the General Assembly, the Annual General Assembly meeting was adjourned.
Minutes taken by: Attested by: SHARON O. DIONCO RIZALDY R. DUQUE Cooperative Secretary Chairman, Board of Directors
