Thursday, August 14, 2008

Duterte welcomes entry of Tagum Coop in the City

Davao City Mayor Rodrigo R. Duterte welcomed the entry in Davao City of one of the biggest cooperative in Mindanao, the Tagum Cooperative, with over 31,081 members spread out in the provinces of Tagum, Panabo and Davao, with a total asset of Php583.3-million.

The Tagum Cooperative, in one of its expansion program have established a satellite (branch) office located at McArthur highway (fronting NCCC mall), with Robert de Castro as its Davao Satellite Office branch manager.

In its formal inauguration Sunday, Davao City Development Cooperative head Engr. Jaime Adalin represented Mayor Duterte to grace the special occasion and read the inspirational speech of the Mayor.

“You (Tagum coop) have shown that Davao City is truly an investment haven and we are honored to have you to be part of the growing business community,” the speech of Mayor Duterte stated.

“The expansion of Tagum Cooperative (TC) services in Davao City is one potential area of partnership and complementation with our existing cooperative livelihood assistance program aimed at uplifting the socio-economic conditions of the cooperative members and their organization,” it stated.

For their part, TC Chairperson Antonio Arañas and TC Vice Chair Norma Pereyras both said that TC is committed to be partners with Davao City’s efforts for the city’s total development.

In an exclusive interview with Baby Gomez and Edith Isidro – both of the Philippine Information Agency (PIA), Manager de Castro said TC has also branch offices in Carmen, Davao Norte;Nabunturan, Comval province; and Buhangin, Davao City.

Manager de Castro said Buhangin branch is slated to transfer along Bajada by July this year to make the cooperative more accessible to the public.

As of end of March 2008, TC loan portfolio reached Php384.1-million; total deposits – Php289.5-million; Share Capital – Php156-million; and total net income – Php4.6-million.

We are proud to say that “TC has no external credit” and we have no loans nor borrowed anywhere else. This is the reason why TC can offer the lowest interest rates in members’ borrowings/loans, he said.

Official lists of Board members are: Antonio C. Arañas – Chairperson; Norma R. Pereyras – Vice Chairperson; and Directors: Nenita E. Lumaad, Atty. Celerina E. Esuerte, Nenita R. Malbas, Prudencio N. Mabanglo, and Evelia R. Sator.
Key Manager Officers are: Juris D. Perez – manager; Monica L. Salido – Treasurer; Atty. Rolando C. Casaway – legal counsel; and Hermarie Torreon-Esmael – BOD Recording Secretary. PIA/rbpalacio

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