Ella Louella T.

Lavador
BSA - 2
MACC 212 - A23
Finance and Financial Markets

Baug CARP Beneficiaries Multi Purpose Cooperative (BCBMPC)

I. History

Baug CARP Beneficiaries Multi Purpose Cooperative (BCBMPC) started with more or less 30
individuals from different walks of life, became crab hunters in the damp town site of
Magallanes, at the delta of the Agusan River way back 1985. They were developing the
swamps into fishpond areas and were paying the land rental to the Municipal Local
Government of Magallanes. Their struggle to own the land went on for years.

In 1995, the Department of Agrarian Reform (DAR), identified 110 association

members as beneficiary to the Comprehensive Agrarian Reform Program (CARP). The 164.7
hectares of swamp we patiently developed in years was awarded through issuance of a
CLOA. In the same year we registered with the CDA using the P39,200.00 cash contribution
of members. The cooperative is popularly known today as “BAUG”. The term stands for Baug
CARP Beneficiaries Multi Purpose Cooperative. The Co-op provides loans to members for
fishpond development, and shrimp production which steadily grew in 1995 – 2002. The
profit derived from business was used in the construction of cooperative building. During
this period, production loan and annual shrimp harvest was good, and the income of the
cooperative, including that ARB members improved.

In 2003 the municipality of Magallanes was hit by the White Spot Syndrome Virus
(WSSV) all prawns’ farms were wiped out by the virus, multi million cooperatives and prawn
farm operators got bankrupt but God spared BCBMPC. The cooperative continue to operate
through Bayanihan. The Board of Directors’ honoraria was reduced by 80%. The cooperative
employees agreed to reduce salary by 50%. The affected members were offered liberalized
loan settlement and restructuring program. These strategies are effective in increasing
collection and improving coop cash balance. The members also helped by bringing in new
depositors.

Today, BBMPC has a total of eight (8) branches operating in the cities of Butuan,
Surigao, Cabadbaran and Bayugan as well as in the municipalities of Magallanes, Buenavista,
Kitcharao and Las Nieves in the Province of Agusan del Norte.

BCBMPC now ranks as one of the top cooperatives of Caraga Region and the only
organization with programs for Agrarian Reform Beneficiaries, the LGU and Community,
Environment Protection, and Climate Change Adaptation.
II. Products and Services

1. Savings

A. Regular
Competitive interest rate and No Taxes withheld on interest earned from deposit.

Features
Initial Savings Requirement Php500.00

Minimum Monthly ADB Balance Php500.00

Interest rate per annum 2.0%

Service Fee and Charges

Dormancy Charges Php20.00

Loss of Passbook Php40.00

B. Special
Save for special events in your life like birthdays, anniversaries, fiestas and other events you
want to celebrate.

Features
Initial Savings Requirement Php500.00

Purpose for savings is required

(Ex. Birthday, fiesta, anniversaries, etc.)

Withdrawals can only be approved 3 days

before the actual event to happen

Interest rate per annum 3.0%

Service Fee and Charges

Dormancy Charges Php20.00

Loss of Passbook Php40.00

C. Youth/Teen
Encourage the sons and daughters of our members to practice the habit of savings.

Features
Initial Savings Requirement Php100.00

Parents should be a member of the cooperative.

The account must be in the name of the parent and the teen.

Interest rate per annum 2.0%

2. Time Deposit

 Enjoy a very competitive interest rate.

 Term of Deposit varies from 3 months to 12 months.
 Conveniently withdrawn or renew for another term, upon maturity.
 If withdrawals are made before the maturity date, regular savings interest rates are
applied.
 No withholding taxes on interest.

AMOUNT TERM INTEREST RATE PER ANNUM

P10,000 – 199,999.99 6 or 12 months 2.75%

P200,000 – 599,999.99 6 or 12 months 3.50%

P600,000 – 1,099,999.99 6 or 12 months 4.25%

P1,100,000 & Above 6 or 12 months 5.50%

3. Loans

A. Salary Loan
Get a fast and easy loan with low interest rate.

Loan Products Details

Salary Loan For permanent employees of government and private

institutions.

Honorarium Loan For all elected Barangay Officials, appointed officials of the
Barangay and all Barangay workers covered with MOA.

DepEd Salary Loan (APDS) For the teaching and non-teaching personnel of DepEd. Payroll
deduction is made through Regional Offices – Automatic
Payroll Deduction System (APDS) or through Payroll Deduction
of any Independent/Empowered Schools.

LGU Salary Loan For all permanent employees, elected officials and appointed
officials of LGU under a MOA Payroll Deduction within the
operation coverage of the branch.

Pension Loan For all SSS and GSIS Pensioners or Surviving Spouse with an
ATM card as a security of payment

B. Agri Loan
Avail of customized credit facilities that cater farmer’s financing need.

Loan Products Details

Agri Loan  Applicable to All Members engage in Rice and Corn Production
 Competitive interest rates
 Lump Sum payment
 6 month term loan

C. Livelihood Loans
Avail of customized credit facilities that cater the unique needs of your business.

Loan Products Details

Livelihood Loan  Applicable to All Members with a Business.

  Customized payment schemes based on cash flow cycle of
the business.
 Low interest rates.
 Wide variety of collateral accepted.
 Trained Account Officers assigned, willing and ready to assist
you.

Commercial Loan  Applicable to All Members with a Business.

 Customized payment schemes based on cash flow cycle of
the business.
 Competitive interest rates.
 Can cater up to P 1,000,000.00.
 Wide variety of collateral accepted.
 Trained Account Officers assigned, willing and ready to assist
you.

Express Loan  Suitable for member’s whose business is just starting.

 Customized payment schemes based on cash flow cycle of
the business.
 Low interest rates.
 5 C’s of Credit Applied.
 Maximum of P 15,000.00 loanable amount.
 Maximum of 3 months term.
 Trained Account Officers assigned, willing and ready to assist
you.

D. Providential Loans
Avail of customized credit facilities that cater your emergency, educational and housing needs.

Loan Products Details

Emergency Loan  Applicable to all MIGS Members experiencing

emergencies in life.
 Low interest rates.
 Customized payment scheme based on cash
flow.
 3 month term loan.

Educational Loan  Applicable to all MIGS Members who want to

pay the school tuitions of their children.
 Low interest rates.
 Customized payment scheme based on cash
flow.
 6 month term loan.

Housing Loan  Applicable to all Members.

 Must have at least 50% equity of the total
project cost.
 Maximum of 5 years term of loan.
 Collateral accepted: Land Title.
Vehicle Loan  Applicable to all Members.
 Must have at least 50% equity of the total cost
of the vehicle.
 Maximum of 3 years term of loan.
 Collateral accepted: OR/CR of the purchased
vehicle.
4. ATM Deposit

Save funds in this affordable ATM cards

Features
Initial Savings Requirement Php200.00

Minimum Monthly ADB requirement Php200.00

Interest rate per annum 2.0%

Service Fee and Charges

Balance Inquiry at any PinoyCoop ATM’s Php2.00

Withdrawal at any PinoyCoop ATM’s Php5.00

Balance Inquiry to other ATM’s Php2.00

Balance Inquiry to other ATM’s Php15.00

Loss of ATM cards Php50.00

5. Fishpond