CWD-MPC CONDUCTS ANNUAL MEETING
The Casiguran Water District Multi-Purpose Cooperative conducted its 11th Annual General Assembly on April 23, 2021 at Aquador’s Hub, CWD Corporate Center, Casiguran, Sorsogon. The assembly is a requirement of Cooperative Development Authority to discuss various issues and concerns of cooperative.
With the theme – Strength and Resilience as One: Coop Against Covid 19, the gathering was highlighted with the Financial Report of Ralph Louie H. Rafer and the election of new set of officers. Important issues surrounding the Coop’s operations in the midst of pandemic, were also discussed. The current pandemic drastically decreased Coop’s business operation resulting to decrease of income.
Elected to the Board of Directors were Ruby R. Buban as Chairperson; Roberto D. Lacza – Vice Chairperson; Members – Rex E. Jersey, Simeon H. Haboc and Lorenzo A. Haveria. Heads and members of different mandated Committees were also elected.
The Financial Report of Mr. Rafer included Statement of Financial Condition, Statement of Operations, Cash Flow Statement, Statement of Changes in Equity, all for the year ended December 31, 2020.
The Financial Report reflected that CWDMPC maintains a healthy financial position despite of the pandemic. The total assets stand at Php 1,224,148.64.
CWDMPC was created way back November 16, 2009. It caters cash loans to members, composed of CWD employees and BOD members. It aims to provide easy and low-interest bearing loans to its members. At present, members can avail of cash loan up to Php 60,000.00 with 12% percent interest per annum, effectively protecting its members from “Loan Sharks.” It also provides dividend derive from Coop’s operations. Loan windows being offered are Emergency Loan, Salary Loan and Birthday Loan.
CWDMPC, duly registered in Cooperative Development Authority with Registration Number RA952-05002625, is the only one of its kind among water districts in Sorsogon.