“ALONE I am weak, but with others I am strong”.
So goes the famous tagline upon which the spirit of cooperativism is strongly anchored.
It is truly manifested that when one is alone in a certain undertaking, possibilities are, he will never accomplish the desired target. In most cases, he will be a failure.
Therefore, he needs someone or more to plan, execute, and consequently observe the result of the dreamed program.
“Two heads are better than one.” Also, these words are embedded into a simple sentence if only to give importance that one cannot succeed alone.
He needs two, three, or more persons to rely on. He needs them in calculating and evaluating the pros and cons of a project. Under the said scenario a lesser degree of failure can be expected on a planned project.
Such is the case in a cooperative – whether in a credit cooperative or in a multi-purpose cooperative. They are grouped together with the single purpose of alleviating their respective financial capabilities.
But before they are grouped together to become a cooperative, they are mandated to undergo series of seminars in order to be briefed on the ABCs of cooperativism. They are told that in a group discussion and deliberation, majority rules.
Even how big your voice is in a discussion, even if you are the tallest in a group, or even if you are the most influential person in the group still you have only one vote – one voice – compared to the many in the group.
And once a cooperative is organized and registered with the Cooperative Development Authority, the same cooperative must undergo an Annual General Assembly. This is done if only to determine the growth and strength of the cooperative.
Such is the case of the Cooperative Bank of Bohol. It held its 44th General Assembly yesterday, March 23, at the BIT International College – Tagbilaran Campus Audio Visual Hall. Founded on November 3, 1980, and having enjoyed for years the invaluable support from the shareholders, the COOP BANK has now P34,363,000.00 in common stock capital.
It also boasts of a 140 total shareholders membership as of December 31, 2023. And, as of the same cut off date, the bank also enjoyed a total membership of 58 individual shareholders with a total capitalization of P1,623,000.00.
The bank is now managed by Ms. Marsha Bagnol, an old employee of the bank, and with the same set of Board of Directors but with a new Chairman elected.
