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Articles of Cooperation

CDA articles of cooperation for financial service cooperatives

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of
________________ Financial Service Cooperative
KNOW ALL MEN BY THESE PRESENTS:
We, the undersigned Filipino citizens, of legal age and residents of the
Philippines, with a firm collective intent, have come together to organize
voluntarily an Financial Service Cooperative to advance what we believe is
our inherent right, under the laws of the Republic of the Philippines.
AND WE HEREBY CERTIFY:
Article I
Name of the Cooperative
That the name of this Cooperative shall be _____________________
______________________________________ Financial Service Cooperative.
Article II
Purposes
in:

That the purposes for which this Cooperative is organized are to engage

1. The functions of credit cooperatives and other Cooperatives, including
multipurpose Cooperatives that provide savings and credit to their
members;
2. Other financial services subject to regulation by the BSP.
3. Promoting and advancing the economic and social status of the
members;
4. Coordinating and facilitating the activities of cooperatives;
5. Advocating for the cause of the cooperative movements;
6. Ensuring the viability of cooperatives through the utilization of new
technologies; and
7. Encouraging and promoting self-help or self-employment as an engine for
economic growth and poverty alleviation.

Article III
Goals
That the goals of this Cooperative are to help improve the quality of life of its
members and thereby contribute to inclusive growth, enterprise development
and employment.
In furtherance thereto, it shall aim:
1. To attain increased income, savings, investments, productivity, and
purchasing power, and promote among themselves equitable distribution
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FINANCIAL SERVICE COOPERATIVE
ARTICLES OF COOPERATION

of net surplus through maximum utilization of economies of scale, costsharing and risk-sharing;
2. To provide optimum social and economic benefits to its members;
3. To teach members efficient ways of doing things in a Cooperative
manner;
4. To propagate Cooperative practices and innovative ideas in business
undertakings and management;
5. To empower through provision of access, ownership, control and
opportunities to the poor, vulnerable, lower income and less privileged
groups to increase their ownership in the wealth of the nation;
6. To actively support the government, other Cooperatives and people
oriented organizations, both local and foreign, in promoting Cooperatives
as a practical means towards sustainable socio-economic development
under a truly just and democratic society;
7. To develop a dynamic savings mobilization and capital build-up schemes
to sustain its developmental activities and long-term investments,
thereby ensuring optimum economic benefits to the members, their
families and the communities;
8. To adopt membership expansion mechanism/scheme, thereby ensuring
growth of the Cooperative movement;
9. To implement policy guidelines that will ensure transparency,
accountability and equitable access to its resources and services, and
promote the interests of the members;
10.
To adopt such other plans as may help foster the welfare of the
members, their families and the community;
11.
To advance the competitiveness and
industry;

innovativeness of the

12.
To coordinate with other Cooperatives on learning exchanges, coop
trade, and information exchanges in fostering sustainable development;
13.
To advocate legal framework and enabling policies appropriate for
the development of financial service Cooperatives; and
14.
To be the voice and the institution of the poor and the excluded in
resisting the growth-centered development aggression and instead
promote people-centered development.
Article IV
Powers and Capacities
That the powers, rights and capacities of this Cooperative are those
prescribed under Article 9 of Republic Act 9520.
1. To the exclusive use of its registered name;
2. To sue and be sued;
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FINANCIAL SERVICE COOPERATIVE
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3. Of succession;
4. To amend its Articles of Cooperation in accordance with the provisions
of RA 9520;
5. To adopt by-laws not contrary to law, morals or public policy, and to
amend and repeal the same in accordance with RA 9520;
6. To purchase, receive, take or grant, hold, convey, sell, lease, pledge,
mortgage, and otherwise deal with such real and personal property as
the transaction of the lawful affairs of the Cooperative may reasonably
and necessarily require, subject to the limitations prescribed by law
and the Constitution;
7. To enter into division, merger, or consolidation, as provided under RA
9520;
8. To form subsidiary Cooperatives and join federations or unions, as
provided in this Code;
9. To avail of loans, be entitled to credit and to accept and receive grants,
donations and assistance from foreign and domestic sources subject to
the conditions of said loans, credits, grants, donations or assistance
that will not undermine the autonomy of the cooperative. The
Authority, upon written request, shall provide necessary assistance in
the documentary requirements for the loans, credit, grants, donations
and other financial support;
10.
To avail preferential rights granted to Cooperatives under RA 7160,
otherwise known as the Local Government Code, and other laws,
particularly those in the grant of franchises to establish, construct,
operate and maintain ferries, wharves, markets or slaughters houses
and to lease public utilities, including access to extension and on-site
research services and facilities related to agriculture and fishery
activities;
11.
To exercise such other powers granted under RA 9520 or
necessary to carry out its purposes as stated in this Articles of
Cooperation; and
12.
To act as Guardian Cooperative and accept the responsibilities of
supervising and monitoring the activities of the Laboratory Cooperative
and act in its behalf in dealings with third parties when capacity to
contract is required. (applicable to Guardian Cooperative only)

Article V
Term of Existence
That the term for which this Cooperative shall exist is Fifty (50) years
from the date of its registration with the Cooperative Development Authority.

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Article VI
Common Bond and Field of Membership
That the common bond of membership of this Cooperative is
___________________and the field of membership shall be open to all
___________________ who are natural persons, Filipino citizens, of legal age, with
the capacity to contract and possess all the qualifications and none of the
disqualifications provided for in the By-laws and this Articles of Cooperation.

Article VII
Area of Operation
That the membership of this Cooperative shall come from ____________
________________________________________________________________________.Its
principal office shall be located at ______________________________________
________________________________________________________________________
Article VIII
Name and Address of Cooperators
That the name and complete postal address of the cooperators are as
follows:
Name
Postal Address

Article IX
Board of Directors
That the number of Directors of this Cooperative shall be ________(___) (it
should be odd number, not less than 5 nor more than 15 members) and shall
serve until their successors shall have been elected and qualified within ___
days from the date of registration as provided in the By-laws.

Name
1
2
3
4
5
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Article X
Capitalization
That
the
Authorized
Share
Capital
_____________________________________________
divided into:

of
this
Cooperative
is
PESOS
(Php______________),

a. __________________________________ (________) common shares with a par
value of ______________________________ (Php ______ ) per share; and
b. _______________________________ (_______) preferred shares with a par
value of _______________________________ (Php ______ ) per share.

Article XI
Subscribed and Paid-up Share Capital
That
of
the
authorized
share
capital,
the
amount
of
_______________________________________(Php________)
has been subscribed,
and ____________________________________________ (Php________) of the total
subscription has been paid by the following members-subscribers:
A. Common Share
Names

No. of
Subscribe
d Shares

Amount of
Subscribed
Shares

No. of Paidup Shares

Amount of Paidup Shares

Sub Total
B. Preferred Share
Names

No. of
Subscribed
Shares

Amount of
Subscribed
Shares

No. of Paidup Shares

Amount of
Paid-up
Shares

Sub Total
Grand Total
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Article XII
Arbitral Clause
Any dispute, controversy or claim arising out of or relating to this Articles
of Cooperation,
By-laws, the Cooperative laws and related rules,
administrative guidelines of the Cooperative Development Authority, including
inter-cooperative, inter-federation disputes and related concerns shall be
exclusively referred to and finally resolved by voluntary arbitration under the
institutional rules promulgated by the Cooperative Development Authority,
after compliance with the conciliation or mediation mechanisms embodied in
the Bylaws and in such other pertinent laws and issuances.

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BE IT KNOWN THAT:
__________________________ has been elected as Treasurer of this
Cooperative to act as such until her/his successor shall have been duly
appointed and qualified in accordance with the By-laws. As such Treasurer,
he/she is authorized to receive payments and issue receipts for membership
fees, share capital subscriptions and other revenues, and to pay obligations for
and in the name of this Cooperative.
IN WITNESS WHEREOF, we have hereunto affixed our signatures opposite our
names this ________ day of _______ in _______________, Philippines.

Name of Cooperators
1.
2.
3.
4.
5.
6.
7.
8.
9.
10
11.
12.
13.
14
15.

Signature

SIGNED IN THE PRESENCE OF:

__________________________
Signature Over Printed Name

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___________________________
Signature Over Printed Name

FINANCIAL SERVICE COOPERATIVE
ARTICLES OF COOPERATION

ACKNOWLEDGMENT
Republic of the Philippines
)
Prov./City/Mun. of __________________) S.S.
Before me, a Notary Public for and in the Province/City/Municipality
of_______________________ on this ________ day of _________________, 20__ the
following persons personally appeared with their competent evidence of
identification as indicated opposite their respective names
Name of Cooperators

Proof of
Identity (IN
ACCORDANC
E WITH
NOTARIAL
LAW)

Date issued

Place of Issuance

All known to me to be the same persons who executed the foregoing
Articles of Cooperation, and acknowledged to me that the same is their free will
and voluntary deed.
This instrument known as Articles of Cooperation consists of ______
pages including this page where the acknowledgment is written signed by the
parties and their instrumental witnesses on each and every page thereof.
WITNESS
my
hand
and
20____at_____________Philippines.

seal

this____

day

of

________,

Notary Public
Doc. No. : ____________
Page No.: _____________
Book No.: _____________
Series of _____________

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FINANCIAL SERVICE COOPERATIVE
ARTICLES OF COOPERATION
 
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