Senator Ferdinand “Bongbong” R. Marcos, Vice-chairman of the Senate Committee on Cooperatives, has lauded the continued success of the Department of Foreign Affairs Multi-Purpose Cooperative, saying their achievements exemplify what other cooperatives in the country should aspire to accomplish.
Speaking before the DFAMC as guest of honor in its 23rd annual general assembly last March 25, 2014, Sen. Bongbong identified the keys to the DFA Multi-Purpose Cooperative’s success as the following: good management and staying true to the objectives of the cooperative.
He said it is the role of a cooperative’s management to find opportunities or specific business niches suited to their capabilities, and to provide the necessary products or services to exploit these. Sen. Bongbong noted that the DFAMC started with a simple canteen to serve its members, and eventually branched into passport services, courier, notarial and photocopying services.
“That is exactly the kind of idea, the business model that is peculiar to you,” the Senator said, emphasizsing that while expansion is ideal, cooperative should continue to excel in providing their basic services first and foremost.
“And I think that so long as you will continue to do this, we would always be using you, and with your permission I will be using your cooperative as an example when I give my talks to cooperatives around the country and to try to explain what a successful cooperative has done to become successful,” the Senator remarked.
Meanwhile, Sen. Bongbong vowed to continue working to improve the cooperative movement in the Philippines, among others, in ensuring the Bureau of Internal Revenue would respect the tax-free status of cooperatives duly-accredited by the Cooperative Development Authority (CDA).
He also reported his efforts in the Senate to amend the charter of the CDA to empower it in discharging its mission to help the country’s cooperatives.