Newscoop shows good performance

CEBU, Philippines - The Cebu News Workers Multi-purpose Cooperative (Newscoop) has improved its rating based on the latest evaluation conducted by the National Confederation of Cooperatives and the Cooperative Development Authority.

NATCCO consultant Sharon Marie Dy has informed NEWSCOOP chairman Elias Baquero that the cooperative is now ranked 13th from 18th among all the cooperatives nationwide.

Baquero said the Newscoop, which is the biggest media workers cooperative in the country, builds its capital resources through monthly contribution from all its members.

According to Baquero, they have set a target to increase the members’ dividends from P437,000 last year to P600,000 this year.

As the Newscoop continues to grow, Baquero said they are providing P17,000 to the family of any member who dies and P10,000 to associate member. The cooperative is also giving P3,000 financial assistance to each member in times of calamity.

Baquero said the Newscoop Board will create a five-year strategic planning which will serve as the coop’s bible from 2012-2016.

“This strategic plan will also be the guide of the Newscoop Board to formulate annual business plan,” Baquero said. The Newscoop now has a total asset of P13.8 million as of October 31, 2011. (FREEMAN)