2013 R - 018 - REALIGNING TWENTY SEVEN THOUSAND PESOS FROM MISCELLANEOUS/INCENTIVE EXPENSE TO COMMITTEE MEETING EXPENSES

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 20 June 2013 at the OCGEMPC Training Room, 3^rd Floor City Hall, Olongapo City

Resolution No. 2013 – 018

REALIGNING TWENTY SEVEN THOUSAND PESOS FROM

MISCELLANEOUS/INCENTIVE EXPENSE TO COMMITTEE MEETING EXPENSES

WHEREAS, no budget was allocated for the Committee Meetings in the 2013 Budget;

WHEREAS, it was suggested by the Coop Manager to allocate Twenty-Seven Thousand Pesos (P27, 000.00) from the budget item Miscellaneous/Incentive Expense (Acct. Code 73520-2) to Committee Meetings Expenses;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE AS IT IS HEREBY RESOLVED TO, to re-align, as it hereby re-aligns Twenty Seven Thousand Pesos from Miscellaneous/Incentive Expense to Committee Meetings Expenses.

2013 - R - 017 - AMENDING RESOLUTION NO. 2013-13, AFFIRMING AND RECOGNIZING FOR THE RECORD, THE OFFICERS OF THE OLONGAPO CITY GOVERNMENT EMPLOYEES’ MULTI PURPOSE COOPERATIVE FOR THE YEAR 2013

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 20 June 2013 at the OCGEMPC Training Room, 3^rd Floor City Hall, Olongapo City

Resolution No. 2013 – 017

AMENDING RESOLUTION NO. 2013-13, AFFIRMING AND RECOGNIZING  

FOR THE RECORD, THE OFFICERS OF THE OLONGAPO CITY GOVERNMENT EMPLOYEES’ MULTI PURPOSE COOPERATIVE FOR THE YEAR 2013

WHEREAS, there is amend to amend BOD Resolution 2013-13 in order to fill up all vacant officers positions in the cooperative;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the OCGEMPC do hereby:

RESOLVE AS IT IS HEREBY RESOLVED TO, to amend, as it hereby amends Resolution No.2013-13 as follows, effective July 1, 2013

Board of Directors:

Edwin J. Piano, Chairperson

Jaime L. Mendoza, Vice Chairperson

Ira Chloemn B. Daylo, Member

Nova N. Codoy, Member

Gerard R. Madarang, Member

Marcelino D. Andawi, Member

Sol E. Solomon, Member

Other Officers:

Julie U. Reyes, Treasurer

Mildred Monje, Secretary

Audit and Inventory Committee:

Carlos Ragudos

Lilia Amor

Redentor Villanueva

Election Committee:

Benjamin Florencio

Esther Rabago

Corazon Fonseca

Education, Training & Membership Committee:

Eric Sanchez

Ellen Rose Tulao

Ramil Wong

Credit and Collection Committee:

Luz Casipong

Joy Cahilig

Jaime Elcano

Conciliation & Mediation Committee:

Jocelyn Niñonuevo

Genia Eclarino

Helson Cañero

Ethics Committee:

Gregorio Elane

Shidar Alop

Virginia Navarro

Business Development Committee:

Neal Perez

Amelia Lacanlale

Marivic Nierras

Computerization Committee:

Jerico Ballon

Emely Levita

Neil Marc Biron

Done this 20^th day of June 2013 at Olongapo City, Philippines.

2013 R - 020 - Allocating One Hundred Thousand Pesos to Pursue the Computer Upgrading

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 20 June 2013 at the OCGEMPC Training Room

Resolution No. 2013 – 020

Allocating One Hundred Thousand Pesos to Pursue

 the Computer Upgrading

WHEREAS, there is a need to upgrade Coop’s computer system to protect it from virus;

WHEREAS,  the Coop shall hire a Computer Specialist for the upgrading.

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED to allocate as hereby allocates One Hundred Thousand Pesos (P100,000.00) to pursue the computer upgrading.

Done this 20^th day of June 2013 at Olongapo City, Philippines.

2013 R - 015 - Providing Interest Rate of .5 Percent for Savings Deposit which is 100% higher than other Banks’ Rate

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) Held on 15 May 2013 at the OCGEMPC Training Room

Resolution No. 2013 -015

Providing Interest Rate of .5 Percent for Savings Deposit which is 100% higher than other Banks’ Rate

WHEREAS, Art. 7. of Republic Act No. 9520 otherwise known as the Cooperative Code of 2008 states that the primary objective of every cooperative is to help improve the quality of life of its members by providing goods and services to its members to enable them to attain increased income, savings, investments, productivity, purchasing power;

WHEREAS, Art. 6 of the same Code states that the purpose of cooperative is “to encourage thrift and savings mobilization among the members”;

WHEREAS, Section 11 a. of Article VIII on Savings Deposits of OCGEMPC Bylaws states that “Any member, in addition to his share capital investment, may open a savings deposit, the rate of interest of which shall be determined by the Board at the beginning of each fiscal year in no case to exceed the rate prescribed by Central Bank of the Philippines”;

WHEREAS, Director Jaime L. Mendoza moved for an interest rate of .5% for savings deposit which is 100 percent higher than other bank rates;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE, AS IT IS HEREBY RESOLVED providing interest rate of .5 percent for savings deposit which is 100% higher than other banks’ rate;

RESOLVED FURTHER to conform as it is hereby conformed to Section 11 a. of Article VIII of the Bylaws which states that “Savings deposits not falling below FIVE HUNDRED PESOS (500.00) during any calendar month shall be entitled to interest to be computed quarterly based on the lowest monthly balance outstanding during the period. The interest shall be credited to the depositor’s account, and the same shall earn interest from the date it is credited, at the same rate as savings deposits”.

RESOLVED FINALLY, that savings deposits shall only be entitled to interest if no withdrawal was made during the last month of each quarter.

Done this 15^th day of May 2013 at Olongapo City, Philippines.

2013 R - 019 - APPROVING THE APPLICATION FOR VOLUNTARY TERMINATION OF MEMBERSHIP OF CELSO BULANHAGUI, ET AL

Excerpts from the Minutes of the Regular Meeting of the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative (OCGEMPC) held on 15 May 2013 at the OCGEMPC Training Room

Resolution No. 2013 – 019

APPROVING THE APPLICATION FOR VOLUNTARY TERMINATION

OF MEMBERSHIP OF CELSO BULANHAGUI, ET AL

WHEREAS, Art. 28 of Republic Act 9520 otherwise known as the Cooperative Code of 2008 on Termination of Membership states that “A member of a cooperative may, for any valid reason, withdraw his membership from the cooperative by giving a sixty (60) day notice to the Board of Directors”;

WHEREAS, Section 7b Article II of OCGEMPC Bylaws on Voluntary Termination states that “A member may, for any reason, terminate his membership by submitting a letter of voluntary termination to the board of directors. However, no member shall be allowed to withdraw or terminate his membership during any period in which he has any pending obligation either as a borrower, co-maker or guarantor of a loan”.

WHEREAS, the following members submitted their notice of voluntary termination with corresponding date of application;

1. Elizabeth Libut                   March 6, 2013

2. Llwellyn Rocello Jr.           March 14, 2013

3. Cristina Sangilan                March 21, 2013

4. Evelyn A. Rico                   March 26, 2013

5. Oscar Saure Jr.                   April 1, 2013

6. Ferdinand Reduca               April 1, 2013

WHEREAS, It was confirmed by the management that the abovementioned members have no pending liability either as a borrower, co-maker or guarantor of a loan;

NOW THEREFORE, upon motion duly made and seconded, the Board of Directors of the Olongapo City Government Employees Multi-Purpose Cooperative in meeting assembled do hereby:

RESOLVE AS IT IS HEREBY RESOLVED, to approve as it hereby approved the Application for Voluntary Termination of Membership of Elizabeth Libut et al;

RESOLVED FURTHER, to conform as hereby conformed to Section 9 Article II of OCGEMPC Bylaws on Appraisal and payment of Members Interest Upon Termination of Membership which states that “Upon the termination of the membership of a member, the Board of Directors shall determine the book value of the member’s share capital which shall in no case exceed the par value, as established at the year-end audited financial statement nearest to the date of termination and shall fix the amount thereof in money to be paid subject to the availability of funds”.

Done this 15^th day of May 2013 at Olongapo City, Philippines.