Economic Survey Cooperative

ECONOMIC SURVEY
I. GENERAL STATEMENT
a. Proposed Name: Abono ng Bayan Cooperative
b. Type of Cooperative: Credit Cooperative
c. Field of Membership: Farmers of Valencia City, Bukidnon
d. Address of Cooperative: Poblacion Valencia City, Bukidnon
e. Number of Original Members: Fifteen(15) members
f. Projected Increase Membership for the:
First Year: 20% of community farmers
Second Year: 20% of community farmers
Third Year: 20% of community farmers
Fourth Year: 20% of community farmers
II. RATIONALE
Agriculture is important in every country. It is one of the main pillars of

any economy and the ability to sustain a nation's population from your own
sources keeps people busy with work and puts food on their tables without having
to beg borrow or buy from external sources. With this, many people engaged
themselves to farming businesses. However, their productivity is low due to some
factors and one of these factors is the high cost of fertilizers for their crop and any
agricultural store would prefer cash only. With this concept, Abono ng Bayan
Cooperative is develop.
Ab0no ng Bayan Cooperative is a means of improving agricultural

production and aimed at helping the farmers in their professional capacity as a
producer. It concerns all activities geared towards making agriculture worth-
while venture such as minimizing costs associated with farm input (fertilizer).
Abono ng Bayan will provide the farmers enough time to pay for the debt input
with lesser interest and the farmers can guarantee that the committee or
members that will serve them is highly qualified and competent to their work.
III. GOALS AND OBJECTIVES
1. General Purposes
a. To build a self-reliant economy by partnering with members, stakeholders

and society at large and excelling in all sphere of cooperative activity;
b. To serve our members and people of Abono ng Bayan Cooperative by doing
business in accordance with co-operative principles and values.
2. Secondary Purposes
a. To promote the cooperative as a way of life for improving the economic well-
being of the community;
b. To develop the knowledge of the members on the principles and practices of
cooperatives to enable them to actively and competently participate in
managing the affairs of the cooperatives;
c. To implement policy guidelines that will ensure transparency, equitable
access to its resources and services, and promote the interests of its members;
d. To adopt such other plans as may help foster the welfare of the members,
their families and the community;
e. To promote better farming, procurement of better price for agricultural
produce and achieving better living conditions;
f. To provide transport to its members whenever necessary;

g. To purchase fertilizers intended for agriculture and for the purpose of
supplying them to its members;
h. To increase member’s production and incomes by helping better link them
with fertilizers.
Proposed Business Activities
The initial business activity that the cooperative will undertake is to provide a
supply for fertilizers to any member of the cooperative and to provide services if
needed.
IV. ECONOMIC ASPECT
1. Non-existence of Duplicate Cooperative
There is no credit cooperative existing in the proposed area of operating

catering to the same group or association.
2. Chances of Survival
The Abono ng Bayan Cooperative will have high percentage of survival
since there is no other cooperative that offers the same and farmers
population in the area is high.
V. TECHNICAL ASPECT
1. Personnel for the Proposed Cooperative

The Cooperative will secure/source the staff of the credit union from its
membership. The prospective area of operation has several qualified residents
who has the capacity in handling and administer the business operations of
the credit union.
2. Machinery/Equipment
The operation of the credit cooperative does not require any expensive
machinery or equipment. In its first years of operation, all recording may be
done manually. As business picks up in the later years of its existence, a
computer or a typewriter may be budgeted and purchased. The cooperative
will also accept any donation of a second-hand computer.
3. Feasibility of Business Operations
a. There is a large pool of competent managers.
The members of this single-purpose cooperative represent a large

pool of competent well-educated and well-trained members who can be
tapped to manage the cooperative.
b. Checks-and-balance-mechanism are present.
The board lays down the general policies and the operations
personnel implements them. The supervisory committee will regularly
check on the corporate transactions, the working of the credit committee
and on the treasurer, bonded, is the custodian of all funds and accepts all
the money paid to the credit union as well as make out all authorized
disbursement.
VI. FINANCIAL ASPECT

1. Source of Capital:
a. Member’s share capital contribution;
b. Revolving capital build-up, which consist of the deferred payment

of patronage refund or interest on the share capital;
c. Continuous capital build-up from the 50% investment from interest

and capital and patronage refund;
d. Subsidies, grants, legacies, aids, donations, and such other

assistance from any local or foreign institution, public or private.
2. Capital Investments: The cooperative has no proposal yet on capital

investments, it will try to solicit, though, from City Hall or from the
congressman area if a second-hand computer. On the fourth or fifth
year, the cooperative may buy a brand-new computer to replace the old
donated computer.
VII. MANAGEMENT ASPECT
1. Who will be designated to manage the day-to-day operations of the

cooperative?
In the first two years of operation, there will be a management

committee. On the third year, depending on the board of directors, a
general manager may be appointed.
2. How many members will comprise the board of directors?
Three (3). They are:

a. – Chairman
b. – Vice Chairman
c. – Secretary
d. – Treasurer
e. – Auditor
3. What will be the role of the board of directors?
The board of directors, as a body, has general supervision and

control of the affairs of the cooperative. It shall provide policies
consistent with laws, the by-laws, and the resolution of the general
assembly for the management of its business and the guidance of its
members, officers, and employees.
4. Will the cooperative have an audit committee?
Yes. The membership consists of the following:

a. Arlyn Simora
b. Coney Misiona
c. Jelyn Genise
5. Will the cooperative have a credit committee?
Yes. The membership consists of the following:

d. Arlyn Simora
e. Coney Misiona
f. Jelyn Genise
6. Will the cooperative have an education committee?
Yes. The members consists of the following:

g. Arlyn Simora
h. Coney Misiona
i. Jelyn Genise
7. Will the cooperative have an election committee?
Yes. The membership consist of the following:

j. Arlyn Simora
k. Coney Misiona
l. Jelyn Genise
8. Will the cooperative hire an accountant/bookkeeper?
Yes. However, on the first years of its operations, the accountant or

bookkeeper will be on a volunteer basis. On the fifth year, the books
will not be in disarray because the treasurer is an accounting major
graduate.

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ECONOMIC SURVEY

a. Proposed Name: Abono ng Bayan Cooperative

b. Type of Cooperative: Credit Cooperative

c. Field of Membership: Farmers of Valencia City, Bukidnon

d. Address of Cooperative: Poblacion Valencia City, Bukidnon

e. Number of Original Members: Fifteen(15) members

f. Projected Increase Membership for the:

First Year: 20% of community farmers

Second Year: 20% of community farmers

Third Year: 20% of community farmers

Fourth Year: 20% of community farmers

Agriculture is important in every country. It is one of the main pillars of

Ab0no ng Bayan Cooperative is a means of improving agricultural

III. GOALS AND OBJECTIVES

a. To build a self-reliant economy by partnering with members, stakeholders

f. To provide transport to its members whenever necessary;

Proposed Business Activities

IV. ECONOMIC ASPECT

1. Non-existence of Duplicate Cooperative

There is no credit cooperative existing in the proposed area of operating

1. Personnel for the Proposed Cooperative

3. Feasibility of Business Operations

a. There is a large pool of competent managers.

The members of this single-purpose cooperative represent a large

b. Checks-and-balance-mechanism are present.

VI. FINANCIAL ASPECT

a. Member’s share capital contribution;

b. Revolving capital build-up, which consist of the deferred payment

c. Continuous capital build-up from the 50% investment from interest

d. Subsidies, grants, legacies, aids, donations, and such other

2. Capital Investments: The cooperative has no proposal yet on capital

VII. MANAGEMENT ASPECT

1. Who will be designated to manage the day-to-day operations of the

In the first two years of operation, there will be a management

2. How many members will comprise the board of directors?

Three (3). They are:

3. What will be the role of the board of directors?

The board of directors, as a body, has general supervision and

4. Will the cooperative have an audit committee?

Yes. The membership consists of the following:

5. Will the cooperative have a credit committee?

Yes. The membership consists of the following:

6. Will the cooperative have an education committee?

Yes. The members consists of the following:

7. Will the cooperative have an election committee?

Yes. The membership consist of the following:

8. Will the cooperative hire an accountant/bookkeeper?

Yes. However, on the first years of its operations, the accountant or

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