CDA NCR EO


827 Aurora Blvd., Service Road, Brgy. Immaculate Conception
Cubao, 1111 Quezon City, Philippines

NMPI CREDIT COOPERATIVE SERVES THE COMMUNITY AND MEMBERS THROUGH FINANCIAL ASSISTANCE AGAINST TRYING TIMES (COVID-19)

ICTSI- MICP South Access Road, Port of Manila. The NMPI Credit Cooperative started providing financial assistance to its members and the community. The said cooperative distributed 2 million worth of cash assistance to more than 3, 500 families located at Brgy. 20, Parola and Islang Puting Bato that were gravely affected by the Enhanced Community Quarantine (ECQ).
The iniative was strictly coordinated with the Brgy. Officials led by Brgy. Chairman Bryan Mondejar and his council. Besides the community, the cooperative extended an arm and distributed 1.9 million worth of cash assistance to their members and employees. Below is an excerpt taken from the Cooperative’s Board Resolution stating the guidelines:
WHEREAS, Financial Assistance to Brgy. 20 Community and NMPI Credit Cooperative Members and Employees aim to help and support its Community near its area of operation and Cooperative members and employees financially during this difficult and trying time brought by this Pandemic Crisis Covid19 by extending help in the form of Cash Assistance. Below is the Policy and guidelines of the Financial assistance;
1. 2 Million Pesos Financial Assistance granted to Brgy. 20 Community in Coordination with Brgy. 20 Chairman Bryan Mondejar
2. Coordination with the Brgy. Captain regarding the names and beneficiaries of the chosen Brgy./Community.
3. NMPI Credit Cooperative representative must be present during the distribution of the Cash assistance to the Families resident of Brgy. 20, Parola Tondo, Manila.
4. Financial assistance from NMPI Credit Cooperative must be received and signed personally by the beneficiaries, head or designated representative of the listed family of the said Brgy./Community.
5. Distribution of financial assistance must be based on the names of legitimate beneficiaries/families of the chosen Community as submitted by the Brgy. Purok leader.
6. Certification of Barangay Chairman of the chosen community wherein the Community Development Fund (CDF) of NMPI Credit Cooperative was utilized. Received copy signed by the beneficiaries of the Financial assistance from NMPI Credit Cooperative’s Community Development Fund (CDF) must be attached to the Certification issued by the Barangay Chairman.
7. 1.9 Million Pesos Financial Assistance will be allocated and distributed to all NMPI Credit Cooperative Members and its Employees.
8. All members (Regular & Associates) and Employees of the Cooperative will receive Three Thousand pesos (P3,000) each as Financial Assistance from NMPI Credit Cooperative.
9. Newly accepted members of the Cooperative will be included in the Financial assistance so long as they have been deducted their Capital Share on or before the Cut-off period of March 31, 2020.
10. Withdrawn members of the Cooperative are not included in the financial assistance.
11. Financial Assistance Fund to Barangay 20 Community and NMPI Credit Cooperative Members and Employees will be taken from the Cooperative’s Community Development Fund (CDF) and Optional Fund (OF) respectively.
12. Attached all necessary documents/receipts/pictures/narratives for proper liquidation as requested by Cooperative Development Authority (CDA).
13. The Optional Fund, as stated in the Article 86 of R.A. No. 9520, may also be utilized by the Cooperative, if warranted by the circumstances, for the benefit of its Members and Employees. This, however, must later on be confirmed by the General Assembly.
14. Board Resolution signed by the Board of Directors of NMPI Credit Cooperative stating the purpose of withdrawal and distribution of Community Development fund and Optional Fund of NMPI Credit Cooperative.
15. During the distribution of the Financial Assistance, everyone is advised to follow strict compliance of Wearing proper PPE’s and observing Social Distancing protocol.
NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, that the “Board Resolution No. 04 series of 2020 also known as Financial Assistance to Brgy. 20 Community and NMPI Credit Cooperative Members and Employees” be implemented and the Cash Assistance be distributed to the Community and Cooperative Members and Employees immediately.
Through the immediate action of the NMPI Credit Cooperative’s BOD and employees, truly they have served their members and the community as well.
By: SKS