Sunday, March 30, 2008 Women power transforms lowly group into millionaire coop
A GROUP of women in Tublay, Benguet who established a cooperative from scratch was able to raise P1,000,000 worth of loan for certain projects.
Nena Jimenez, one of the founders of the cooperative said they started with a P1,000 loan from the Department of Social Welfare and Development (DSWD).
This was used for the livelihood of training of women in the community. From stuffed toy to peanut butter making, the group eventually were able to repay their loan and borrow again, as the group was expanding then.
The group was formed in 1993.
A break came to the group when in 1997 then Vice President Gloria Macapagal-Arroyo visited them and saw their efforts to expand their livelihood to augment their family's income.
A P1.25 million loan later on were accorded to the group. The amount was used for the housing projects of the cooperatives.
"Every member of our cooperative now has a house to call their own," Jimenez said, proudly declaring that they were also able to repay their loan.
Now, the group also renders loans to their members, concentrating on livelihood projects like cut flower production, sari-sari stores, and poultry production.
The cooperative is also into contracts for small infrastructure projects in Tublay.
Jimenez said determination and cooperation among their members made the difference why their cooperative succeeded. (RO)
