The CAPGEM Community Multipurpose Cooperative will give P7 million in dividends to its members during their general assembly on April 23 at the L'Fisher hotel in Bacolod City, Lemuel Salido, its chairman of the board said yesterday.

Salido said the amount an active member will receive depends on the individual's capital build-up.

But he also said the members will only receive half of their dividends because the other half will be added back to their capital.

He said the incentive that will be in cash, is based on the income of the cooperative from credits, loans and trading operations.

The cooperative has 2,500 members, but only 1,835 are active, and the rest inactive. These are those who had no recorded movements in their accounts, failed to settle their loans, and have not remitted additional capital build-up, Salido said.

CAPGEM general manager Leans Villafranca had said earlier that most of those tagged as inactive are associate members of the cooperative, or not employed by the Provincial Capitol.

Villafranca said CAPGEM's continues to campaign for employees of district hospitals and local government units in Negros Occidental to become members of the cooperative so they can avail of these incentives.*APN

back to top