TAKING MANY SMALL STEPS: THE STORY OF BAGONG SILANG 2 MULTI-PURPOSE COOPERATIVE (BS2MC)

The Bagong Silang 2 Multipurpose Cooperative (BS2MC) operates in the Province of Cavite. It holds office in B6 Strikeville 1 Subdivision, Bagong Silang 2 Queen’s Row East Bacoor City Cavite. BS2MC was first cited by the Cavite Provincial Government as the Most Outstanding Non-Agricultural Multipurpose Cooperative in 1997, and the "Most Outstanding Community-Based Cooperative” in 2003. BS2MC was also cited as the Most Outstanding Medium-Scale Cooperative three times by the Provincial Cooperative Development Council, Best in Membership Expansion, and many more. Lately, BS2MC was nominated as one of the Most Outstanding Large Scale Cooperative in Cavite.

HISTORY

The story of Bagong Silang 2 Multipurpose Cooperative (BS2MC) began in 1987, when Sr. Leontina Castillo (or “Sister Leonie”), an Augustinian Sister of Our Lady of Consolation, was invited by the Bank of Philippine Islands (BPI) to organize the families who had been resettled in a 2-hectare property. This was part of the 13 hectares that the bank had foreclosed a decade before. The squatters consisted mainly of families of construction workers who built the houses in nearby residential subdivisions. Called Bagong Silang 2, the new community also soon grew to include resettled families from other properties foreclosed by the bank.

The cooperative served as a people’s organization that would centrally govern the entire resettlement project. Land and security of tenure was the overriding concern of its members in the early years, and the cooperative negotiated with the bank on the terms of resettlement.

Under the leadership of Sister Leonie, who was then Chairperson of the Board of Trustees of Coady Philippines Foundation, the BS2MC was formally organized in May 1998 and registered with the Bureau of Cooperatives Development (BACOD) a month later. It was re-registered with the Cooperatives Development Authority (CDA) on March 2, 1991. And again re- registered under RA 9520 on October 1, 2009.

It is affiliated with the National Confederation of Cooperatives (NATCCO) Network and UNECO formerly Cooperative Union of Cavite.

Power in the Bagong Silang 2 Multipurpose Cooperative rests in the general assembly; Policymaking functions lay with the Board of Directors (BOD).

In 32 years, the cooperative has registered impressive growth, with its membership increasing from 86 to 8,400; its total assets growing from nothing to P224 million; and its share capital from a little over P5, 450 to P86 million.

MEMBERSHIP

A person who is at least 18 years of age and who comes from the area of coverage (Province of Cavite) can join BS2MC as long as he or she has successfully completed the Pre-Membership Education Seminar (PMES), deposited P750 as initial fee. Access to the cooperative’s lending products, however, requires that members have paid share capital of at least P6, 000.

PRODUCTS AND SERVICES

BS2MC provides its members a range of financial and non-financial products and services. It has six (6) savings products including fixed deposits and ten (10) loan products. BS2MC has also developed new savings products intended for the overseas Filipino. The Kinabukasan Savings Plan (KSP) that offers an array of savings products that offers special interest rates intended only for the OF and their families.

BS2MC has a cooperative store; it is run by a fulltime employee of the cooperative. It sells rice and offers an array of “dry goods” and is also a distributor of Marca Leon oil.

TRAINING PROGRAMS

BS2MC puts part of its earnings in an education and training fund. This fund shoulders the cost of sending its staff and officers to training and seminars, and finances development activities for them, as well as for volunteers. The cooperative has also sent staff members and its directors to various meetings and workshops during which various issues facing cooperatives were discussed.

BS2MC TODAY

In 2019, BS2MC faces so many challenges in business both internal and external, but we manage to overcome all of it. As we close our book for 2019, BS2MC is proud to say that we hit most of our targets. Assets of 224 million and having a net surplus of 15.6 million and drastically declining delinquency rate from above 50% to 34% to 28% down to 21.48% at the end of 2019. BS2MC has had no external borrowings ever since the cooperative was established.