DACCO

The adage which says that “need is the mother of invention” has once again proved its essence true with the establishment of DACCO MPC.

The idea of organizing a cooperative started with Dielmar “Tata” Egay in November 1998 when he thought that it would be novel to put up a transport group, which would service the Anabu II-B based commuters to and from their workplaces in Manila. Having a service van he drove himself, he brought the idea to Kapitan Gaudioso “Guding” Diato. What was in his mind a transport cooperative evolved into a credit cooperative when Tata’s idea went through the Solomonic mind of Kapitan Guding. That was the start of DACCO MPC’s history.

Kapitan Guding, while seeing wisdom in Tata’s transport cooperative, suggested instead to form first an accredited credit cooperative, which is the easiest and most viable type of cooperative for a starter. He had seen there were not much van and FX owners then within the barangay necessary to form a transport group as opposed to a credit cooperative whose members can be plain individuals. And that started it all.

The first 15 cooperators together with the other 24 initial members subscribed and posted an initial share of Php13, 250.00 and registered the cooperative at the CDA on August 26, 1999 thru Confirmation No. LGA-4129. As of December 2018, DACCO MPC’s Total Asset is Php 51, 072,452.79.

Under Article 144 of R.A. 144 of R.A. 9520 otherwise known as the “Philippine Cooperative Code of 2008”, a new certificate of Registration was issued to DACCO MPC on December 28, 2009 thru CIN-0108040061 upon compliance with the requirements prescribed by Cooperative Development Authority.

In the General Assembly held on March 16, 2013, the Articles of Cooperation and By-laws were amended and approved to cover Anabu I and Anabu II, Imus, Cavite as area of operation.

On March 22, 2015, the following amendments in the Articles of Cooperation and By-laws were approved: (a) Conversion of DACCO MPC from Credit to Multipurpose Cooperative; (b) area of operation covers the City of Imus; (c) Amend the schedule of the General Assembly from 3rd Saturday to 3rd Sunday of March or within 90 days after the close of each fiscal year; (d) increase authorized capital from Php10,000,000 to Php30,000,000; (e) Put up three (3) Satellite offices within the area of operations. On March 24, 2017, the Board of Directors approved the following amendments of DACCO MPC’s Articles of Cooperation and By-laws such as: (a) coverage area extending to the province of Cavite; (b) the name of the Cooperative shall be changed to “ DAMAYAN SA CAVITE COMMUNITY MULTIPURPOSE COOPERATIVE (DACCO MPC); and (c). increase authorized capital from Php30,000,000 to Php40,000,000 of which Php35,000,000.00 is Common Shares and Php5,000,000.00 is Preferred Shares; (d) new businesses to include basic commodities, Travel and Tours, bills payment, and property rentals.

From fifteen (15) cooperators in 1999, there are now 1,843 members as of December 31, 2018. The cooperative is the major source of employment for its thirteen (13) regular employees.