11th General Assembly : Broadcast sector  given two seats in newscoop board

For the first time since its founding in 1996, the Cebu News Workers Multi-Purpose Cooperative (NewsCoop) granted the media's broadcast sector two seats in the board of directors, during its 11th general assembly held at the Marcelo B. Fernan Cebu Press Center at Sudlon, Lahug yesterday.

The first two coop members from broadcast, named to the board during the assembly, were Leo Lastimosa of ABS-CBN Network and Filomena Bayno of Radyo Bombo.
Their entry has brought to 11 the number of coop directors from its original nine.

The expansion of NewsCoop membership to include workers from radio and television networks started in 2005 and now, the broadcast sector has a total of 228 members, exceeding even that of the founding members, SunStar newspaper's 151, The Freeman’s 140, and Cebu News Workers Foundation's (CENEWOF) 20.
The board's report to the assembly stated that the coop's total members, following the 598 in 2006, have reached 670 last year that included 51 from Cebu Daily News, 58 from NewsCoop employees and associates, and 21 from news dealers.

The assembly elected two new directors, The Freeman general manager Melandro "Boy" Mendoza, and Banat Hugyaw editor Ryan Mark Borinaga. Reelected were outgoing board chairperson Ma. Eloisa "Marissa" Fernan and SunStar executive editor Michelle So.

They, together with Lastimosa and Bayno, will join the incumbents in the board: Vice-chairperson Elvira Luym, The Freeman's Marlinda Angbetic-Tan and Divine Ngujo, and Super Balita's Rolando Morallo and Joseph Elvir Tubilan. 

The assembly was also given reports from the coop board and management, which announced that the coop's total assets have reached P10 million, and its fixed deposit collection in 2007 amounted to over P7.6 million, while declaring a dividend rate of five percent of the members' fixed deposit.

NewsCoop general manager Mely Verano reported that the coop's thrust for 2008 includes the establishment of credit life insurance coverage for quick and livelihood loans, and the opening of the motor vehicle loan for members.

She also reported the computerization of the coop accounting system, the increase in the amount of credit available to a member, and the increase of coop revenues by 23.06 percent. Loan releases last year hit close to P8 million, with quick loan comprising 72 percent of the total amount released to members, she said.

Morallo, who heads the committee for coop housing program, reported that the housing project at San Pio Village in Dumlog, Talisay City—a brainchild of chairperson Fernan—will finally be done with the completion of at least 10 houses for coop members this year.

He said that the project, a joint venture with the Bethlehem Community of Australia, and Bethlehem Day Care Foundation in Inayawan, among others, is now nearing its target to provide 40 house-and-lot units to coop members, since the project's conception three years ago.

One highlight of the assembly was the holding of the raffle draw that gave out various prizes such as a 29-inch TV and a DVD from Governor Gwen Garcia, cellphone units, cash, and gift certificates from various donors and sponsors.

There was also the giving of awards, such as the top fixed depositors, the highest loan availers, multi-loan availer or patronizer, highest petty cash loan releases, top member recruiter, and the media outfit with the most number of members attending the event.

After lunch, NewsCoop then distributed the dividends and shares to each of the members who attended. - Rolex A. Elmido