CWD COOP CONDUCTS ANNUAL GENERAL ASSEMBLY
The CWD Employees Cooperative conducted 13th Annual General Assembly on January 20, 2023 at CWD Conference Room. It was attended by 36 members of the Coop to discuss important issues and to comply with the requirements of Cooperative Development Authority.
Financial operation and current financial position were discussed by Ralph Louie H. Rafer. Based on the figures presented, it appeared that the Coop has now recovered from the ill-effects of the pandemic. The net income for year 2022 even surpassed the pre-pandemic income of the Coop. Dividend rate stands at 17%.
The members of the Coop decided to elect same set of officers with Ruby R. Buban as Chairman of the Board and Antonio D. Hilis as General Manager. The fresh mandate for the officers is expected to bring the Coop in an even higher height.
With the healthy financial position of the Coop, the members approved to increase loanable amount for Salary Loan from P 60,000 to P 75,000 for permanent and casual employees. For Job Order Workers, the loanable amount is now P 45,000, higher by P 10,000 than the previous. Birthday loan of P 5 000 was also retained.
The Coop that operates for 13 years now, proves to be very helpful to its members especially in times of financial needs. It effectively safeguards its members from loan sharks.