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. Mariedaisy 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 set its market vendor members’ needs as its top priority. Since 1994, CAMAVEMCO supported the needs of Micro, Small and Medium Entrepreneurs through their comprehensive finance loans. At the same time, the cooperative accepted 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 amounting to ten pesos (P10.00) minimum up to one hundred pesos (P100.00).
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 and after two (2) years of operation, to a Multi-Purpose Cooperative.
Over the years, CAMAVEMCO stayed true to 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 also 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 through their Community Development Fund.
During the onslaught of the pandemic, CAMAVEMCO successfully aided not just its members and employees but also those whose livelihood income were affected. The acceleration of the COVID-19 pandemic brought about serious and immediate economic effects on sectors, enterprises, workers, and vulnerable communities in the country. The health crisis left more people vulnerable to poverty with lower income households lacking disposable cash necessary to survive. Daily wage earners were exposed to the threat of losing their source of income. As response to the needs of the community, CAMAVEMCO assisted non-members and its members and employees through the temporary suspension of loan payments collection, distribution of essential items and hygiene kits.
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 also became catalysts of inclusive growth in the community. CAMAVEMCO has truly advanced the welfare of market vendors and their programs highlight 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.