All about Team RAMA - BOPK Topic

[KOLPO SAMOT]

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Sa ako lang bro ha, ang invest man jud ko sa coop ( employee's coop) ako maka gurantee jud ko sa amoang annual dividend na 29% this year.. before kay 30%+. Ang amo interest kay dili ni pareha sa banko, kundi didto ni gikuha sa mga empleyado mangutang sa coop with interest to be paid in two months.

Example sa 10K na utang naay 7% interest in two months. That will become 10,700 in two months.. So if pirme naay mo utang ug 10K every two months naa kita ang coop na 4,200 per annum sa 10K that will be equivalent to 42%. Pero imagine ang kwarta gipa roll na cya.. meaning ang 10K in two months mahimong 10,700 and if ipautang na cya kay masdako pa ang interest ug ang lumpsum. So basically kung dako ug pundo daghan mangutang mo dako jud ug net interest to be divided among sa members,

Since nag compare man ka ug bangko, ang naka lahi sa amo coop kay wala miy tawo gi sweldohan para mo maintain sa money, wala sad establishments gi abangan. Meaning wala miy expenses, so limpyo jud ang amo madawat. And kini cya kay coop, ug dili banko, dili mi mag need ug tawo na bright kaayo para ma allocate ug tarong ang kwarta, need rami ug honest na tawo na kabalo mo dala sa kwarta ug mo pasabot sa mimbro..

Kini cya kay dili sa CFI, kundi sa employee's coop ni namo. So I think CFI is also using similar logic, or basin mas improvise pa. Ako dili ko membro sa CFI pero maka-ingon ko na dili sad ni cya scam kung dugay na jud kaayo.. Kay kung dugay naka na membro mabawi naman to ang imo gi initial savings after 4-5 years, like sa akoa karn na after 3 years, nabalik na sa ako ang akoang gi invest ug nag cge pa jud dawat sa dividends.

Sorry pero murag impossibly kaau makahatag ang mga coop ug mas dako pa sa banko. I think monroy is correct. kung makahatag man ang coop ug ingon ana ka dako, dili mag dugay ma bankrupt

[Rakizta]

cfi copp has been there since the 1970's pa man siguro . everyyear naa man ni siya tapok sa members og update sa status sa coop . if there is something wrong , magbagulbol na ang mga members ani .

[Rakizta]

i think mike rama has a chance but still tom o is leading right now . lets see , the elections are just days away

[KOLPO SAMOT]

cfi copp has been there since the 1970's pa man siguro . everyyear naa man ni siya tapok sa members og update sa status sa coop . if there is something wrong , magbagulbol na ang mga members ani .

thanks for the info bro, i wonder why tomas issued such statement?

[crossramz]

Sorry pero murag impossibly kaau makahatag ang mga coop ug mas dako pa sa banko. I think monroy is correct. kung makahatag man ang coop ug ingon ana ka dako, dili mag dugay ma bankrupt

im posting based on my experience sa amo coop. I don't see why you people always refer it to banks. Mao gani gitawag na ug coop kay dili banko. Anyway my experience tells it all, and walay mawala sa amoa kay naka ginancya naman jud mi. And besides, true naa jud mga scam organizations as per mabasa sad nato sa news article. So it would be proper for people to be vigilant. But my post above does not say anything na scam na cya.

Pinaka safe ninyo is try to invest at fcct or natcoo kana kay wala paman na cya na stain jud..

just my 2 cents.

[crossramz]

thanks for the info bro, i wonder why tomas issued such statement?

Dili man jud na kahibungan as per political purpose. Diba it was discussed here na one of the boards kay garcia and nangutang daw ug dako si gwen? So if it is true basin mao ni hinungdan sa downfall sa CFI, but that does not say na scam na cya. And speaking of tomas statement wala cya ni ingon na scam jud ang CFI, ang iyang giingon lang na people should be worry for its risk. BIg difference right?

[crossramz]

Panindotay ug jingle, hehe

Team Rama = buhi kaayo ug jingle murag si mike rama nag sige ug sayaw2x ug kanta2x.

Typ O = Mura man ug kanta sa patay ang ila jingle murag gipang cancer..

[monroy]

@kolpo: I didn't say nga di ka hatag ug mas dako nga interest sa bangko and coops. I said co-ops can offer higher interest, but that I would be suspicious of 20% or more annual returns. Returns at that level always come with a lot of risk. I guess co-ops can manage the risk because loans are automatically deducted from member income. But what happens when loans exceed separation pay and then lots of debtor-employees either lose their jobs or change employers? I've personally seen this in a co-op managed in my company and it lead to huge losses on the part of the coop-members. There are also cases where the coop board directors intentionally hiked the interest, borrowed the money themselves, and then left the company.

What I'm trying to say is that at 20% annual returns, be aware of the high risk. crossramz, I wouldn't go so far as to say it is 100% a scam, however you need to realize the nature of risk is that not everyone will loss their money. However, somewhere down the line, an organization offering 20% returns on a consistent basis, will eventually lose someone's money. It's simply the way it is and I've been in this game long enough to know that this is reality. Maybe this coop has been around since 1970.. but have they offered 20-25% returns since 1970

And I don't know why you don't think coops should be compared to banks. They essentially are a bank, but with a limited purpose. When discussing interest rates, returns and risk they are essentially the same, what's different is the relationship between interest rates, returns and risk... Banks lend to stable businesses that have great potential to earn huge income. Coops lend to employees who are high risk, uncollateralized borrowers unable to secure loans from banks.

[crossramz]

^
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Im thinking it twice bout coop vs bank and I think you're right.

But since, I think we would both agree on the part of the risk it would take. Thanks for your inputs also.

[godwhacker]

CFI official explains coop mechanics


By Jujemay G. Awit and Oscar C. Pineda

Sunday, May 5, 2013

THE Cebu CFI (Court of First Instance) Community Cooperative gives back up to 30-percent dividends to its members.

According to Lito Astillero, a member of its board of directors, the cooperative’s total earnings for the year is shared by all its members in the form of dividends and patronage refund, or “annual payment to depositors,” as provided in the Cooperative Code of the Philippines.

A bigger deposit in CFI’s three types of deposits—fixed, savings or time deposit--means a bigger dividend, he said.

“Tomas (Osmeña) clearly doesn’t know the concept of a cooperative as we’ve been doing this for 20 years,” Astillero said.

‘Risky’

Cebu City South District Congressman Osmeña, in his regular Friday press conference, questioned CFI’s 25-percent patronage refund and interest from fixed deposits.

“It’s a sign that it should be investigated because the safety of depositors is at risk,” Osmeña said.

He explained that the interest is too high and there’s a possibility that it (CFI) might end up like the Legacy Group and Rural Bank of Subangdaku that went into receivership by the Philippine Deposit Insurance Corp.

Osmeña also encouraged depositors to take their money out of CFI.

He said it would be used to help the gubernatorial bid of Rep. Pablo John Garcia (Cebu, 3rd district) of One Cebu Party.

Osmeña is the ally of Liberal Party’s gubernatorial candidate Hilario Davide III.

Doing well

But Astillero said higher dividends and interest only mean that CFI, which started in 1970, is earning well.

However, he said a member cannot deposit more than P500,000.

He said the CFI started with only 29 members with P200 as total fund. Now, it has 80,000 members with P7 billion in assets.

Astillero said the CFI has a P3.5-billion credit line with the Land Bank of the Philippines, but it is only using P1.5 billion.

“So the bank is scrutinizing all our finances,” he said.

“My appeal to Tomas is don’t use the cooperative in his politicking because we have never involved ourselves in politics in our 43 years of existence,” Astillero said.

CFI is also regulated by the Cooperative Development Authority (CDA) and the Bangko Sentral ng Pilipinas.

CDA field officer Ruben Delfino explained that the cooperative’s earnings are divided annually among its members.

RA 9520

He cited the implementing rules and regulations of Republic Act 9520, or the Philippine Cooperative Code of 2008, which provides that after deducting expenses from the cooperative’s annual earnings, 10 percent of the remaining net surplus will go to the reserve fund, 10 percent to cooperative education and training, three percent to the community and development fund and seven percent to the land and building fund.

What remains will be divided into two: the bigger portion is divided among members as dividend or interest of capital, while the smaller portion is divided among members as their patronage refund.

CFI is chaired by retired judge Esperanza Garcia, wife of Rep. Pablo Garcia (Cebu, 2nd district) and mother of suspended Gov. Gwendolyn Garcia and Congressman Pablo John.

It was Barili Mayor Teresito Mariñas, who brought up the issue when he hand-carried a letter allegedly signed by some Barili residents who belong to CFI. They were afraid their deposits would be used for partisan politics.