ECONOMIC SURVEY

OF SAN ILDEFONSO SAVINGS AND CREDIT COOPERATIVE

I. GENERAL STATEMENT
a. Proposed Name: Unstoppable Savings and Credit Cooperative

b. Type of Cooperative: Savings and Credit Union

Field of Membership: Residential – Residents of, or working in, or, with

dependents studying San Ildefonso, Bulacan

c. Address of Cooperative: Brgy. Poblacion, San Ildefonso, Bulacan

d. Number of Original Members: 15 members

e. Projected Increase Membership for the:

First Year: 20% of community residents

Second Year: 20% of community residents
Third Year: 20% of community residents
Fourth Year: 20% of community residents

II. PURPOSE OF THE COOPERATIVE

1. General Purposes

a. To stimulate members' thrift and income mobilization for capital formation.

b. To establish a fund to make loans to its members for constructive and providential
objectives.

2. Secondary Purposes

a. To carry out any connected activity for the benefit of the members and self-government,
as well as to increase social and/or economic well-being.
 b. To establish the cooperative as a way of life to improve the community's social and
economic well-being.

c. Adopting any other plans that may aid in the well-being of the members, their families,
and the community.

d. To carry out various operations in to execute the terms of the cooperative code effectively
and efficiently.
Proposed Business Activities
The cooperative's first business activity will be to pool each member's funds for
capital formation and to offer loans for productive and fortunate objectives. This exercise
will involve the following elements:
a. Loans will only be granted for productive and providential reasons.
b. To lend funds to participants at 1% interest on the unpaid balance.
c. To urge members to save at least 5% of their monthly pay in the credit union at first.

III. ECONOMIC AND TECHNICAL ASPECTS OF BUSINESS OPERATIONS

1. Non-existence of Duplicate Cooperative

There is no current credit cooperative in the planned area of operation that caters
to the same team or organization.

2. Personnel for the Proposed Cooperative

The Unstoppable Savings and Credit Cooperative will hire/source credit union
employees from its members. Several inhabitants in the projected area of operation
have a graduate Master of Business Administration. These individuals are qualified to
conduct and manage the credit union's business processes.

3. Machinery/Equipment

The administration of the credit cooperative does not necessitate the purchase of
any costly machinery or equipment. All tracking may be done manually in the first
few years of business. As the company grows in its latter years, a computer or a
typewriter may be budgeted for and purchased. Any contribution of a used computer
will also be accepted by the cooperative.

Training Needs of the Cooperative

 The College of Baliuag Polytechnic is spearheading the formation of the
cooperative in the area. The faculty of the said institution will handle all training that
the staff will require.

IV. FINANCIAL ASPECT

1. Source of Capital:

a. Contribution of a member's share capital.

b. Borrowings and loans, including time and savings deposits.

c. Subsidies, loans, legacies, supports, gifts, and other forms of help from
any local or foreign governmental or private entity.

d. Other funding sources that may be approved by law.

2. Cooperative Earnings from Operations:

a. First year = P 300, 000,000

b. Second year = P 200, 000, 000
c. Third year = P 300,000, 000

3. Operating Expenses:

a. First year = P 200, 000, 000

b. Second year = P 400, 000, 000
c. Third year = P 200, 000, 000

4. Capital Investments: The cooperative has not yet made a proposal for capital
investments; nevertheless, it will try to request from City Hall or the
representative's district if a used computer is required. The cooperative may
purchase a brand-new computer to replace old, donated computer after the
fourth or fifth year.

V. MANAGEMENT STRUCTURE

1. Who will oversee the cooperative's day-to-day operations?

A management committee will be in place for the first two years of operation.
A general manager may be chosen in the third year, depending on the board of
directors.

2. Will members be compelled to deposit their funds and use the

cooperative's services? Yes.

3. How many people will be on the board of directors?

Three (3). They are:

a. Ruby Rose Garcia - Chairman
b. Ace Craige – Vice Chairman
c. Lisa Cruz – Director

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

The executive board, as a body, has general oversight and control over the
cooperative's business.

5. Will the cooperative have an audit committee?

Yes. The membership consists of the following:

a. Jenny Rose Bulatao
b. Kemberly Turner
c. Elizabeth Sparrow

6. Will the cooperative have a credit committee?

Yes. The membership consists of the following:

a. Sarah Iniwan
b. Kylie Ewan
c. Jake Crago

7. Will the cooperative have an education committee?

Yes. The members consists of the following:

a. Michael Farnacio
b. Nica Anaca
c. Rosie Mimosa

8. Will the cooperative have an election committee?

Yes. The membership consist of the following:
a. Princess Gila
b. Paul Tristan
c. Shawn Bello
d. Zamora, Rudy

9. Will the cooperative hire an accountant/bookkeeper?

Yes

What is the proposed compensation for the following?

a. Treasurer or Manager
Year 1 = voluntary basis only
Year 2 = prevailing minimum wage level

b. General Manager
Year 1 = voluntary basis
Year 2 to 3 = per diem as fixed by board
Year 5 = minimum wage level + 2000.00

c. Accountant
Year 1 = voluntary basis only
Year 2 to 4 = per diem as fixed by board
Year 5 = prevailing minimum wage level + 1000.00