HISTORY
The cooperative was conceived in Pinoy Money Talk website as an offshoot of the series of interaction started by rainmen, futureGizmo and other PMT forum members who wanted to venture into foreclosed properties or real estate ventures in general. There had been a series of PMT meetings every Saturday to form the cooperative with some cash flow games courtesy of condoinvestor. The PMT Coop was officially established last August 5, 2008 that is registered with Cooperative Development Authority (CDA) and has Registration No. C-623-6531.
For two years, the board directors of PMT coop are rainmen (chairman), futuregizmo (vice-chairman), gr8collector (board director), extrarich_catsup (board director) and tutoy (board director). The secretary is piameg and blessed247 as the treasurer voted by the board.
VISION
A cooperative that will be the choice partner in providing financial literacy and access to financial solutions that will improve the quality of life of Filipinos and open its doors to members for entrepreneurial opportunities.
Specifically, the following vision has to be attained by the coop:
- First, build capital;
- Acquire businesses like micro-financing and foreclosed property;
- Provide joint venture funds to members who are ready to go on their own businesses;
- Provide continuing education to members on wealth accumulation;
- Lastly, provide sources of continuing income to members even when they retire:
- Dividends from businesses owned;
- Employment for members or their children who are qualified in the businesses that PMT owns, and
- Income from businesses the members co-own with PMT Coop.
To bring the PMT Cooperative closer to Filipinos, thru:
- Harnessing Filipino values as potentials in building a strong organization;
- Educating and motivating its members to save and invest hard-earned money;
- Building the members’ self-esteem to climb up the ladder to the socio-economic level;
- Providing total quality services with dedicated, responsible officers and staff;
- Helping the country in its campaign towards fighting poverty and making Filipinos proud of themselves living with pride, courage and determination.
ACTION PLAN
- Build membership to at least one thousand (1,000) contributing members. (as of Feb. 7, 2008 there are 5,178 members to our forum) conservative capital of P3-M to provide us with sufficient resources;
- Build an organization and management team to seek and evaluate opportunities and set up mechanism for fund raising legally;
- Establish separate funds within PMT to acquire businesses and other profitable franchises. In this case, any member will be allowed to have direct ownership of any business sponsored by PMT.
WHY PMT COOP EASILY ATTRACTS MEMBERS?
- Earn high dividends that can increase your retirement benefits;
- Greater probability of no-capital-loss of each member’s contribution;
- Greater chances to earn higher and more consistent income;
- Better access to the best professional management;
- Financing for one’s own venture development;
- Greater assurance for sustained success.
WHAT ARE THE DUTIES AND RESPONSIBILITIES OF PMT MEMBERS?
- Pay the installment of his share capital contribution as if falls due to participate in the capital build-up and savings of the cooperative;
- Patronize the cooperative’s businesses and services;
- Participate in the education programs, trainings and seminars;
- Attend in deliberation of all matters taken during general assembly;
- Observe and obey all lawful orders, rules and regulations adopted by the board of directors and the general assembly;
- Promote the goals and objectives of the cooperative, the success of its businesses, the welfare of its members; and
- Help increase membership base of the cooperative.
TYPE OF MEMBERSHIP
- REGULAR MEMBER – Any natural person, Filipino citizen, of legal age, with capacity to contract is eligible to be a regular member. He is entitled to all the rights and privileges of membership as stated in the cooperative code and its constitution and by-laws.
- ASSOCIATE MEMBER – Any natural person, Filipino citizen, of legal age, with capacity to contract is eligible to be an associate member. He has no right to vote and be voted upon, and is entitled only to such rights and privileges as provided by its constitution and by-laws.
CRITERIA TO QUALIFY FOR MEMBERSHIP
- Has completed the prescribed pre-membership orientation;
- Willing to undertake and uphold the by-laws, guidelines, rules and regulations as promulgated by the board of directors and the general assembly; and
- Willing to use and avail of the services and products of the cooperative in the pursuit of financial independence.
One time membership fee – One Thousand Pesos (P1,000.00)
Share capital contribution – One Thousand Pesos (P1,000.00) / share
Regular Member Contribution 10 shares and above
PhP 10,000 and above
Associate Member 1 to 9 shares
PhP 1,000 to PhP 9,000
Notes from the by-laws of the PMT Coop: A member may, for any reason, withdraw his membership from the cooperative two (2) years after date of completion of share capital subscription and by giving a 60-day notice to the board of directors. However, no member shall be allowed to withdraw or terminate his membership during any period in which he has pending obligation with the cooperative.
MODES OF PAYMENT
- Full Payment
Membership Fee Php 1,000.00
Contribution Php 10,000.00
Total Php 11,000.00
- Monthly Installment
First Month: Php 1,200.00
Membership Fee Php 1,000.00
Contribution Php 10,000.00
Total Php 2,200.00
Succeeding Months: Php 800.00 for 11 months
- Quarterly Installment
First Quarter: Php 2,500.00
Membership Fee Php 1,000.00
Contribution Php 10,000.00
Total Php 3,500.00
Succeeding Quarters: Php 2,500.00
JOINING THE PMT COOPERATIVE MADE EASY
(Download through the internet. Fill-out the form)
- Please deposit payment of membership fee and capital contribution to any BDO bank.
- Immediately after every deposit, fund transfer or remittances made, advise PMT Cooperative via call, text or email with your name and details of the deposit;
- Upon full payment of the share capital, a stock certificate will be issued in your name.
MAJOR PROGRAMS FOR 2009
- Visibility of PMT office in
- Build the trust of members in order to strengthen the present membership and to help generate additional members;
- Enhance and protect the financial well-being of members and their families ;
- Reintegration of PMT activities on the internet once a week or twice a month and reading of letters coming from PMT members on net;
- Regular monthly cash flow 101 in order to strengthen exposure of PMT ;
- Endorsement;
- Continuing with the membership generation here and abroad to hit our targets of capital build up of at least Php 3,000,000.00. To fulfill this, we will:
a. continue with the member-get-member program;
b. Conduct Seminars and pre-membership orientations;
c. Have a local tour to promote the cooperative;
d. Intensive information dissemination from the Provincial level down to the Barangay level, nationwide through multi-media advertisements.
- Acquisition of restaurant franchise, refilling stations, and other businesses;
- There are so many financial institutions in the country where your funds can grow. The choice is yours. However if you believe that PMT Cooperative will give you all these returns, we strongly recommend it for you. Don’t miss the opportunity! Don’t procrastinate.
"Focus on the TEAM, Not on Yourself" - J. Maxwell
"True progress in any field is a RELAY RACE, and not a single event" - Author Cavette Roberts
