Cabuyao Market Vendors Multi-Purpose Cooperative (CAMAVEMCO) was organized on April 4, 1993 by twenty (20) market vendors headed by their founding Chairperson Mrs. Anastacia C. Javier thru the initiative of then Mayor Jun Alimagno and DA Head Ms. Maridaisy Valenzuela to help aid vendors through the provision of low-interest loans. Located at the 2F (H07-H08) of Cabuyao Retail Plaza, the cooperative has catered not only its market vendor members’ needs but all other members in the nearby Barangays under its area of operation as top priority. Since 1993, CAMAVEMCO supports the needs of Micro, Small, and Medium Entrepreneurs through their comprehensive finance loans. At the same time, the cooperative accepts savings deposits from its members.
The twenty (20) founders started to pay their initial capital of one thousand pesos (P1,000.00) to reach the required start-up capital of twenty thousand pesos (P20,000.00). Their share capital contributions were paid daily out of their income with minimum of ten pesos (P10.00) to one hundred pesos (P100.00) as maximum daily contribution.
A year after CAMAVEMCO was organized, the founders submitted the required documents to the Cooperative Development Authority (CDA) and on April 4, 1994 CAMAVEMCO was registered by the Authority as a Credit Cooperative. After two (2) years of operation, the cooperative became a Multi-Purpose Cooperative.
Over the years, CAMAVEMCO stayed true in its mission to extend its hand to the less fortunate members of their community. The cooperative has conducted feeding programs, free medical and dental services including eye checkup and the distribution of free eyeglasses to people in need. CAMAVEMCO was accredited by the Local Special Body and has worked together with the government through its active participation to numerous government-initiated programs. Furthermore, the cooperative has been generous in sharing its profit with the marginalized sector through their Community Development Fund and donations from generous members of the cooperative.
During the thirty (30) years of operation, the cooperative continuously conduct annual community services. The success of CAMAVEMCO goes beyond its major objectives of helping the marginalized sectors and the underprivileged in the community. As a matter of fact, the cooperative has been consistently awarded and recognized for their exemplary performance and commendable programs. Through its micro-finance programs, aspiring entrepreneurs were able to kickstart their businesses and grow into viable and sustainable enterprises. Eventually, these small enterprises were able to generate employment and are catalysts of inclusive growth in the community. CAMAVEMCO has truly advanced the welfare of market vendors and their programs highlighting the important roles of cooperatives in people empowerment. Indeed, CAMAVEMCO provides much needed push to our government poverty alleviation programs, particularly in promoting entrepreneurship among people. Continuing education and training of officers, members and employees resulted to good leadership and governance.
The employees of CAMAVEMCO were also given the opportunity to attend trainings to promote growth and know-how on their respective duties and responsibilities.
The officers and members are covered by life and loan insurances where, in case of death of the member, the beneficiaries of the deceased members receive the death benefits. Management Staff were given FREE LIFE INSURANCE BENEFITS.
With the recent Memorandum of Agreement with SSS, CAMAVEMCO were able to be of help in remitting continuously MEMBERS SSS loan and premium contributions.
Looking back twenty-nine years (29) ago, CAMAVEMCO’s starting capital of twenty thousand pesos (P20,000) now increased to P23.9 in millions or a P45.7 million total assets. The continuous savings mobilization program for both associate and regular members reached to P16.1 million.
In the future, we continuously envision a well-known and ideal cooperative helping out a happy and progressive community.