History

The Agay-ayat Kadakayo Amin Multi-Purpose Cooperative (AKAMPC) of the City Government of San Fernando was established on September 28, 1999. Like any other cooperative, its general purpose is to provide goods and services to its member and enable them to attain increased income and savings, investments, productivity, and purchasing power and promote among them equitable distribution of net surplus through maximum utilization of economies of scale, cost-sharing and risk-sharing without, however, conducting the affairs of the cooperative for charitable purposes. Specifically, the AKAMPC has the following purposes and objectives:

1. To encourage thrift and savings mobilization among members for capital formation;

2. To create funds in order to grant loans for productive and providential purposes to its members;

3. To provide goods and services and other requirements of the members;

4. To engage in any or all of the following: medical, dental care, hospitalization, transportation, communication, housing, labor, electric light and power, irrigation, market management, janitorial services, etc.;

5. To promote the cooperative as a way of life for improving the social and economic well-being of the people;

6. To do any related activity for the members’self government, improve social and/or economic well-being, care, hospitalization, transportation, communication, housing, labor, electric light and manpower, irrigation, market management, janitorial services, etc.

7. To do any related activity for the members’ self government, improve social and/or economic well-being under a truly just democratic society;

8. To work with the cooperative movement, non-government and government organization/entities in the promotion and development of cooperatives and in carrying out government policies;

9. To undertake other activities for the effective and efficient implementation of the provisions of the Cooperative Code.

Initially, the AKAMPC had only thirty-one members with actual subscribed shares of Fourteen Thousand Nine Hundred Pesos (PhP 14,900.00) since its conception. It could be said that the full-blast operation of the Cooperative started only in 2005, when the Cooperative was revived. Through the dedicated and coordinated efforts of the Board of Directors, the AKAMPC prospered. The AKAMPC has increased its membership to one hundred sixty-five (165) and now has an asset equivalent to more than One Million Pesos (PhP1M).

At present, AKAMPC offers the following services:
• all-purpose loan;
• emergency/fast cash loans for medicine/hospitalization/school fees;
• appliance/furniture loan;
• rice loan; and
• grocery loan.

The present Board plans to strengthen further the Cooperative and to offer more services that will benefit the members.