For His Glory Multipurpose Cooperative

Coop History

In a strategic planning session in 2006, the management team of the Kabalikat para sa Maunlad na Buhay Inc. (KMBI), a microfinance non-government organization based in Karuhatan, Valenzuela City, agreed to establish an employees’ cooperative for two reasons: (1) to cater to the financial needs of the employees, especially during emergency situations, and (2) to support KMBI in reaching its vision and goals by investing on its proposed bank. On the third quarter of 2007, a pre-membership and education seminar was conducted by an officer from the Cooperative Development Authority (CDA) head office, which was attended by more or less 25 KMBI employees. On November 29, 2007, the 4HG (For His Glory) Multi-purpose Cooperative was finally registered in CDA as a legal entity (Registration No. Q-622-6351). The name 4HG or “For His Glory” was conceptualized to serve as a constant reminder to all officers and members of the Coop that the institution should always endeavor to bring glory to its God. This acronym 4HG was eventually amended to “FHG” submitted during the Coop’s general assembly in 2013 and subsequently approved by the CDA in 2013. The ideals of the Coop was also crafted with giving glory to God in mind, to wit:

Mission

“To see people in communities live in abundance, with strengthened faith in God, with right relationship with their fellowmen, and rest of the creation”.

Vision

FHG MPC is a Christ-centered social enterprise providing opportunities for personal growth and economic development to its investing members through need and growth-oriented products and services”.

Core Values

The registration was made possible through the efforts of the 65 directors and managers of KMBI. The same officers collaborated to become the Cooperators of FHG MPC, with a starting paid-up capital Php 625,000.00 The Cooperators then appointed nine members of Board of Directors to govern the Coop in its stage of organization, namely:

1. Rizaldy R. Duque, Chairman
2. Sancho A. Montaos, Vice-Chairman
3. Carmela N. Porras, Member
4. Vencent A. Abraham, Member
5. Annalie D. Concepcion, Member
6. Madelyn P. Frijillano, Member
7. Joselito S. Penalosa, Member
8. Ferdinand N. Baptista, Member
9. Selven A. Raguro, Member

Since the beginning of the Coop’s operation in 2008, KMBI has been very supportive to its endeavors. From January 2008 To April 2009, it provided a small office room of about five (5) square meters to the Coop, free of charge. Their management also let their Junior Auditor Jasper Nazarro, who eventually became its full-time General Manager in 2010, to help in the registration and management of the Coop, which then only had two (2) employees, namely Alma Cabacungan as cashier and Gerlie Borreo as bookkeeper.

During the first quarter of 2008, 475 KMBI employees decided to become members of the Coop and agreed to convert their fidelity bond from KMBI into share capital. Thus immediately achieving a Php5.8M paid-up capital which was the first major accomplishment of the Coop. The share capital was mainly used for the credit operation that led to the year-end loan performance of Php12,500,000.00 total revenues of Php1.5M, and net surplus of Php 969,555.75.00 as of year-end.

From 2008 to present, the Coop’s financial performance substantially grew due to the support and patronage of its members (see Annex A). FHG MPC attained the above mentioned excellent financial condition with only four loan products and through constant development to cater the needs and growth of members (see Annex B).

The first recognition the Coop received was “Rookie Cooperative”. This was awarded on 29 October 2009 by the Valenzuela City Government, VCDC and VCDO during the Annual VAL-KOOP Awards. Indeed God had truly blessed FHG MPC for in 2011 Until 2013, it was awarded as Best in Financial and Best Performing Cooperative (3-5 years category) by the same award giving bodies.

In spite of attaining success and sustainability, FHG MPC continued to help its members not just in their financial difficulties but also in times of calamities. FHG MPC donated financial assistance to its members and the community during the devastation of typhoons Ondoy, Pedring and Sendong.

FHG MPC also did not stop helping the members, community and the environment by partnering and donating in the following initiatives:

a. Medical and Dental Mission Blood Donation Drive 2011 on 06-09 August 2011;
b. Tree Planting Project held at Brgy. Cayambay, Tanay Rizal on 20 August 2011; and
c. Valenzuela Cooperative Development Council (VCDC) and Valenzuela Cooperative Development Office (VCDO) VAL-KOOP ON THE MOVE FOR COMMUNITY DEVELOPMENT “WALK FOR A CAUSE” a scholarship program having awarded as the biggest delegation for two (2) consecutive years from 2011 to 2012.

FHG MPC believes in the importance of the coop principle of cooperation among cooperatives thus the Board of Directors decided to become a member of Valenzuela Federation of Multi-Purpose Cooperatives (VAFEMCO) in November 2009 and National Confederation of Cooperatives (NATCCO) IN October 2010. With this endeavor, it participated in and supported the various training and activities of the said federations. Meanwhile, FHG MPC also took part in joining and supporting the development of the Cooperative Leadership Movement in Valenzuela City represented by its Chairman and General Manager to the organizations such as:

A. Valenzuela Cooperative Development Council

Mission

“To be change by Christ and to change others through us by Christ for His Glory alone.”

Vision

“FHG MPC provides ethical customer-driven financial and basic consumer products and services to transform the socio-economic life of the investing members.”

As of 31 December 2013, FHG MPC had a total regular membership of 1,086 and started opening associate membership by 2013 in pursuant to its By-laws and to continue its commitment to deliver its mission.

The Coop provides compensation based on qualification and work experiences with monetary allowances and incentives such as sick & vacation leaves, overtime pay, rice subsidy, clothing subsidy, 13th month pay, performance bonus, life & accident insurance, and HMO benefit.

In FOR HIS GLORY MULTI-PURPOSE COOPERATIVE (FHG MPC), we continue to acknowledge that “Christ is the center of our lives” and in everything we do “to God be the Glory”!