Minutes of the 20th SEEMCO Annual General Assembly held on February 09, 2013 @ 2/F ONB Building, San

Nicolas Street, Surigao City

MINUTES OF THE 21st SEEMCO ANNUAL GENERAL ASSEMBLY HELD ON

FEBRUARY 15, 2014 @ RSY PENSION HOUSE, P. REYES STREET, SURIGAO
CITY

Registration and Arrival of Participants:

 The registration of participants started at around 6:00 in the morning.
There were about One hundred sixty four (164) coop officers,
members, and guests registered on the assembly. SEEMCO staff served
as secretariat during the registration of participants.

Program Proper

Part 1
Prayer and Pambansang Awit
o The first part of the program started at 9:04 in the morning with
an opening prayer and national anthem played in multi-media
presentation.

Acknowledgement of Participants
o The host of the activity acknowledged all the attendees by
requesting all the
Opening Intermission
o Member employees from SEDF Siargao Branch awakened
everyone with a jolly song presentation.
Welcome Message
 Ms. Gina M. Farma, coop chairperson welcomed all the attendees to the
21st Annual General Assembly and thanked everyone for their
unwavering support to SEEMCO.
Intermission Number
 An acapilla song number rendered again by one of the staff from SEDF
Siargao branch
Inspirational Message
 Mr. Joel Butaya, a pioneering of SEEMCO inspired everyone by bringing
back the story of SEEMCO 21 years ago, from its conceptualization to
SEEMCO present standing.. The latter thanked all the pioneering of
SEEMCO and said that dedication and too much concern for others are
the best ingredients for the success of the cooperative.
Intermission Number
 Mr. Nojara member employee from Siargao Branch rendered another
song number to entertain the crowd.
Message
 Mr. Rodel Ipanes, representative from LBP-Surigao branch, on his
speech said that SEEMCO is not measured by how well the Officers
fulfil the expectations of others but by how honestly they live up with
SEEMCO mission and vision . He stresssed out that the cooperative
deserves to be credited for defying the opinions and expectations of
many who said that it couldn’t be done. Lastly, he encouraged all the
co-operators to step up with pride and wishes more years of
accomplishment to achieve and look upon the achievements with
pride.
Remarkable Words
 Mr. Nacario, BOD Vice Chairperson, on his message, challenged every
member co-operator, being not just a member of the cooperative but
the owner of the institution, not only to aim what is good for the
cooperative but for the best.

Part II

Meeting Proper

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Minutes of the 20th SEEMCO Annual General Assembly held on February 09, 2013 @ 2/F ONB Building, San Nicolas Street, Surigao City

Business Proceedings:

1.0 Call to Order

The meeting was called to order at 10:20 in the morning with Ms Gina M. Farma,
Coop Chairperson presiding.

2.0 Roll Call and Declaration of Quorum

There were 163 members and officers attending, thus the meeting was declared
quorum and opened to transact new business.

3.0 Cooperative Pledge

The body recited the cooperative pledge.

4.0 Presentation and Approval of Agenda

The presiding chair presented the agenda of the meeting for comments and
inclusion, hearing none; she welcomed motion for the approval of the agenda.

MOTION 01-0214
Mr. Salomon presented a motion duly seconded by Mr. Legaspi and Ms. Besario to
approve the agenda as being presented. It was carried.

5.0 Reading and Consideration of Previous Minutes

The presiding chair requested the Secretary to read the minutes of the previous
meeting, after which she encouraged the body to raise comments and corrections if
there are any.
Corrections:
 Ms. Besario inquired why there was a difference in the number of
attendance during the registration of participants compared to the
number during the meeting prepare and said that might be clerical
error. BOD Secretary defended the minutes by explaining that the
reason of the difference was one guest leave prior to the start of the
meeting proper.
Hearing no other comments and corrections raised, the presiding chair welcomed
motion for the approval and adoption of the previous minutes

MOTION 02-0214
Ms. Besario presented a motion duly seconded by Mr. Sendiong to approve and
adopt the minutes of the previous meeting. It was carried.

Matters Arising from the Minutes of the Previous Meeting

 Mr. Dagani inquired if there are already member entrepreneurs who are
member of the Coop Board of Directors and farther asked if the BOD
had formulated a guidelines in relation to representation of
entrepreneurs to BODs for adoption of the current assembly. BOD
Chairperson explained that as of present, none of them is a member of
the BOD and no guidelines have been formulated yet.
 Mr. Dagani inquired again on the status of the proposed
application/accreditation of SEEMCO to CDA as Training Provider. BOD
Chairperson said that she already requested all the BODs to submit a
list of trainings they have attended, as one of CDAs requirements for
such accreditation, but until now nobody complied. She added that
BOD members have potentials to handle the said kind of services,
because they have expertise in many fields particularly in cooperative
management. She said that in the current year SEEMCO will push
through with the application. She also said that SEEMCO is very
interested to be a member of MASS SPECC, and application will took
place after hearing updates from CDA on the requirements needed

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Minutes of the 20th SEEMCO Annual General Assembly held on February 09, 2013 @ 2/F ONB Building, San Nicolas Street, Surigao City

 Mr. Penados asked if SEEMCO BODs have already decided on the type
of coop wanted to achieve. BOD Chair said that in its one of its regular
meeting, BODs decided to remain the status as occupational
cooperative. The latter made a follow up question, if there were
already guidelines formulated to be implemented in the current year,
BOD Chair that there is, and need to ratify the existing guidelines on
the assembly.

6.0 Business for the Day:

6.1 Presentation and Confirmation of Reports

6.1.1 Chairperson’s Report
 BOD Chairperson informed the body that SEEMCO officers,
Committee members and staff had conducted an Strategic
Planning on May 2013 and came up with a Coop Vision, Mission,
Goals and Core Values. She said that the cooperative hired
external consultant to facilitate the activity. She also presented
the membership status, loan releases and Net income of the
cooperative for the fiscal year 2013.
 She also informed the body that SEEMCO facilitated the
distribution of bundle of joy to 15 senior citizens

6.1.2 Accountant’s Report – presented by Ms. Gina T. Espejon

 Ms. Espejon, coop accountant presented the ff:
 SEEMCO 2013 targets versus accomplishments &
 Comparative performance 2013-2012
 She also explained how the patronage refund is being computed
with an example.
 Ms. Espejon stressed out that the contributing factor to the
decrease of 2013 net income is the significant increase of Officers’
honorarium and meetings expenses.
 Mr. Baustista asked the reason of part time accountant’s
resignation. Ms Espejon replied that she cannot focus anymore to
SEEMCO because SEDF requires much of her time.
6.1.3 Manager’s Report – presented by Ms. Galgo
Ms. Galgo presented the 1 year operation of SEEMCO to wit:
 Staffing
 Manualized PSPs
 Trainings attended by staff and BODs
 PMES conducted &
 Status of Livelihood Project (Panginabuhian)
Lunch break: 12:05PM
Resumption: 1:11PM

6.1.4 Credit Committee Report– presented by Mr. Sendiong

 Mr. Sendiong presented the loan releases of the cooperative for the 2013,
with corresponding amount and number of coop members who availed.

Prior to the presentation of Audit Committee Report , Raffle Draw started and
distributed gift packs to 1st 8 lucky winners: ( BOD Maceda, Galos, Tura, P. Ramos, E.
Ignalig, L. Besario, R. Bautista and J. Carillo)

6.1.5 Audit Committee – presented by Mr. Rivas

 Mr. Rivas presented the updates on their assessment conducted to
SEEMCO financial & operations aspects:
o Overall Summary
 CASA in placed
 Registered in CDA with annual budget
 Compliance of internal control
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Minutes of the 20th SEEMCO Annual General Assembly held on February 09, 2013 @ 2/F ONB Building, San Nicolas Street, Surigao City

 Dynamic and sharp BODs and full time staff

o Areas for enhancement/Recommendations
 Must assign one staff for posting of Panginabuhian and provide
individual ledger.
 Update status report daily and conduct training and orientation
of staff

6.2 Review on Articles of Cooperation and By laws – Presented by BOD

Chairperson
BOD Chair refresh SEEMCO members on the ff:
 Rights of members and members entitled to vote
 Termination of membership
 Rights and powers of Board of Directors & disqualification of BODs

Another set of gift packs were distributed to the 2 nd 7 raffle winners ( Hortizuela,
Gocela, Conales, Cananez, Salomon, Piso and Cabana)

Comments and Clarifications on the presentation and reports presented

 Mr. Dagani asked why is it that ‘0.00” fund is reflected against CETF fund in
the 2013 FS. He explained that 50% of CEFT fund should be intended for the
APEX. Ms. Espejon explained that expenses incurred in the trainings,
strategic planning and AGA is charged against CETF Fund and 2013
distributed is not included yet.
 Mr. Dagani inquired farther if reserve fund has been separated with the
general fund. BOD Chairperson said that a Reserve Fund in the amount of
P128,000.00 has been deposited already to Cantilan Bank with 6% interest
per annum.
 Mr. Ilano inquired regarding the qualifications of who may set as BODs and
farther asked if it is ok, if members of the BODs came from competing
company, which is conflict of interest.
 Mr. Penados suggests to include conflict of interest in the “disqualification of
BODs’” with members with similar business with the cooperative.
 Mr. Ilano suggests to include Entreprenuers in the BODs, in the Coop Bylaws
 Mr. Dagani informed that amendment of bylaws needs approval from CDA. He
suggested to refine the existing Coop Operations Manual and include in the
election of Officers/BODs section the guidelines that” entrepreneurs may
elect among themselves, and ratio on how many sets in the BODs they may
aquire.
 Mr. Penados inquired why there are members of the cooperative which were
terminated. BOD Chairperson explained that it was BODs decision for the
reason that the couple were not able to comply their monthly obligation to
coop despite of many follow-ups and of non attendance to AGA for
consecutive 8 years. BOD Chairperson farther explained that on the letter
sent to the Naldoza’s they were given a chance (30 days) to appeal on the
assembly if they wish to remain their membership but the couple opt to
withdraw their membership with the cooperative.
 Ms. Penados said that prior to the termination, BODs have sent notices or
warnings to the respondent, or even invited them to explain their side. Ms.
Penados stressed out that due process has not been served. BOD
Chairperson insisted that BODs have made the right decision and prior to the
termination, they consulted CDA on the matter.
 Ms Penados suggested that termination of membership should passed in the
General assembly and in the future communications, notices and diplomacy
should be put in place. It was noted.
 Mr. Ilano shed light on the issue and said that in the Cooperative Law, the
BOD has the right to terminate, the mistake is the process of terminating. He
explained that the respondent should be notified first prior to termination.
 Mr. Dagani farther explained that the law says that a 10 day grace period
must be observed and 1st to 3rd notices must be served before the expolsion.

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Minutes of the 20th SEEMCO Annual General Assembly held on February 09, 2013 @ 2/F ONB Building, San Nicolas Street, Surigao City

Ms. Penados suggests that in the future general assembly, attendance of the
member/s should be obliged and not to impose penalty, because some of the
members might think that it is ok for them not to attend because the penalty
was imposed for their non attendance.
 Mr. Bautista suggests to send notices to all members of the coop prior to the
annual general assembly. It was noted.
MOTION 03-0214
Ms. Penados presented a motion duly seconded by Mr. Sendiong to take out penalty
and with 3 consecutive absences in the AGA must be the ground for termination of
membership with due process. It was carried.

This time, BOD Chairperson welcomed motion for the adoption and confirmation of
reports.

MOTION 04-0214
Mr. Dagani presented a motion duly seconded by Mr. Penados to adopt and confirm
the reports being presented. It was carried.

6.3 Election of Officers

 Mr. Rejuso, Chairperson of the Election Committee reminded and informed
the body on the qualification of a member who is qualified to vote. He also
read the qualification of Board of Directors to be elected.
 Secret balloting was observed
 New elected BOD Members:
o Roel O. Dagani
o Vilma Butaya &
o Jolito Padilla

 The following were the elected committee members:

o Election Committee
 Mr. Joenel Rejuso
 Mr. Roberto Estadilla
 Ms. Virginia Salibay
o Audit and Inventory Committee
 Ms. Gina T. Espejon
 Mr. Jeremias Rivas
 Ms. Conteros Orosco

The above elected officers thanked the members for their trust and for believing
them and one of them promised to work hard for the progress of SEEMCO.

Another set of gift packs were distributed to the 3rd 5 raffle winners ( Hegna,
Penados, Tecson and Dangati)

6.4 2014 Workable Plan

 BOD Chair presented the 2014 workable plan of the cooperative
Comments/Suggestions:
 Ms. Penados suggests not to put collateral to higher loans
 Ms. Espejon shared her experience in availing higher amounts. She said that
the coop require her to put a collateral even if her CBU is quite big or 75% of
the amount she applied.
 BOD Chair said that the board of directors will review on the policies of
regular loan. It was noted

Another set of gift packs were distributed to the 4 th 10 raffle winners ( Teatro, E.
Ongayo, Orosco, Babad, Conde, Revecho, Deguilla, Estobo, Viray & Espejon)

6.5 2014 Annual Budget

 Ms Espejon presented the proposed annual budget of the cooperative for the
year 2014 for adoption.
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Minutes of the 20th SEEMCO Annual General Assembly held on February 09, 2013 @ 2/F ONB Building, San Nicolas Street, Surigao City

7.0 Open Forum

 Mr. Roel Dagani appealed to the BODs that SEEMCO should apply and
accredit as Training Provider and to include such item in the 2013 Workable
Plan. It was noted.
 Mr. Dagani also mentioned the RA9520 guidelines specifically in the
composition of BODs. He said that it is high time to reflect and review the
guidelines regarding the representation of entrepreneurs in the BODs. It was
noted
 BOD Chair hopes that in the coming years there should be members of the
Board from the entrepreneurs
 BOD Mojello suggests that the assembly should appoint the members of the
other committees. Mr. Dagani said that appointment of committee members
will happen 45 days after the first meeting of the BODs. It was noted.

Awarding of Incentives to 5 Highest in CBU and Savings was awarded by BOD Chair
and Vice Chair
The following were the Awardees:
Highest in Capital Build Up (CBU) ( from bottom to top)
 5th – Ms. Ritchel Paymalan
 4th – Mr. Jules Lacsamana
 3rd – Ms. Gina T. Espejon
 2nd – Ms. Imelda C. Wines
 1st – Ms. Vilma Butaya
Highest in Savings
 5th – Mr. Ongayo
 4th – Ms. Gina M. Farma
 3rd – Mr. Joseph B. Nacario
 2nd – Ms. Imelda C. Wines
 1st – Ms. Vilma Butaya

Continuation of Raffle draw and recognition of remaining 50 early birds followed.

8.0 Distribution of Patronage Refund and Dividends

The distribution of patronage refund and dividends was facilitated by SEEMCO Staff.

9.0 Adjournment
Hearing no other matters to discuss, the presiding chair welcomed motion for the
adjournment of the assembly

MOTION O5-0213
Mr. Hortelano presented a motion duly seconded by Ms. Besario to adjourn the
meeting.

The Assembly meeting was adjourn at 3:00 o’ clock in the afternoon the same date
of the proceedings with a closing prayer led by Ms. Tase.

We hereby certify to the correctness of the foregoing minutes

CELYNITA A. DIGAO GINA M. FARMA

BOD Secretary BOD Chairperson
Secretary to the meeting Presiding