Stories Unfold: Managing A Cooperative Enterprise

presentation on the 1st Luzon-wide Cooperative TEAMshop

April 30, 2011

Presentation of RICO B. GERONGeneral Manager, Sorosoro Ibaba Development Cooperative

Sorosoro Ibaba Farmers AssociationLooking Back… Moving Ahead

Started as Sari-sari store on March 19, 1969 with P11,800 capital at Brgy. Sorosoro Ibaba, Batangas City

Incorporators - 59 founding members

Ave. production: 9,000 bags dailyhogs, poultry, fish feedsmash and pellet feedssemi-computerizedwith mechanized corn storage

Feedmills

known as paiwi systemfattenersStocks, Feeds, Veterinary Services & MarketingEqual Sharing in ProfitPatronage RefundLoan for Pig Pen

Contract Growing

Savings and LoansDeposits Accepting deposits from

members P150M deposits from membersLoans Cash Loan (STL, MTL, LTL) Hog Fattening Program Hog Breeding Program Housing Loan Car Loan Program Rice Production Loan Secured by collaterals

Artificial InseminationEnsures high quality pigletsCost EfficientMaintaining high grade boarsSupervised by qualified technicians

850 sow level piglet multiplier farmTaysan, BatangasHi-grade sows and boars first-class facilities

Pig Farm

Communal Farm

With capacity of 1,130 heads hog fattenersProvides members of hog pen, stocks, feeds and veterinary products & services

Hog Selling PenSpeeds-up sales of hogselectronic weighing scalePrevents spread of diseasesSelling pen fees

CoopMartwide variety of merchandise at affordable pricesMembers with assigned Code NumbersPatronage Refund30 day credit

SIDC Mindoro Branch

Consumer store wherein basic household needs are available including agricultural inputs

milling capacity –220 sacks of palay a day

Slaughterhouse Batangas City

government awarded the management of Batangas City Slaughterhouse

An average of 150 heads were slaughtered everyday

CABLE TVSatellite Master

Antenna TelevisionDeferred

Payment of monthly subscription fee

Gasoline Station Offers coop products, rice, groceries, auto supply and gasoline products to regular and associate members

Other services that can be availed by members are washing, greasing, vulcanizing, change oil and battery charging

Offer vehicle insurance & other non-life insurance

Accepting deposits and extending loans to members

SHELL Gasoline Station

Located at Pinamalayan, Oriental Mindoro

Offers gasoline products, auto supply and coop products

With savings & loans

Meat Processing

Develop processed meat products from the hogs produced by coop members (tocino, smoked and skinless longganisa , siomai, ham, sisig, & barbeque)

Farmer Vic Meatshop Located at Muntinlupa

City Caters to Wet Market,

Institutions, and End consumers

Offers SIDC’s Fresh and Processed Meats, SIDC Rice, and groceries

Patronage Refund

Water Refilling Station

Safe Purified Drinking Water using Reverse Osmosis

Free use of hot and cold dispenser for 5 containers per week

Patronage refund Free delivery to covered

areas

BIO-N Fertilizer Ang BIO-N ay

organikong pataba para sa mais, palay at gulay

Ito ay pulbos na may timbang na 200 gramo at naglalaman ng dalawang uri ng bakteryang buhat sa ugat ng Talahib.

SIDC Nueva Ecija Branch

With Minimart, Savings & Loans, Restaurant, Meatshop & Contract Growing

Layer Farm

Located at Balanga Ibaan, Batangas

with 75,000 heads of layers

6 to 9 Store

Store operated by members

Store and stocks to be provided by SIDC

Covered In-Ground Anaerobic Reactor (CIGAR) Biogas Digester

Biogas supply electricity to SIDC Main Office Building

Annual Sales P3.597Bn

Return on Equity 13.78%

Fixed Asset Turnover 6.6 times

Net Profit Ratio 4.30%

Show me the figures

More Figures

Operating Income ROI 14.19%

Past Due Rate (loans) 2.18%

Cash Conversion Cycle 28 days

Personality Development

Shared ownershipAssumed RolePledged Commitment

Establishing a Character

Internal control MechanismTransparencyCredibilityRecognition

Growing Pains Integration◦Backward◦ForwardNeed to find our strengths

Dare to be Different

Diversification Responding to the Clients’ Demands

Life Cycle Continuous Process Interdependence Empowerment

COOPCoop

BusinessMembers

S u r p l u sPatronage RefundInterest on Capital

Health BenefitsMortuary Benefit

ScholarshipCommunity Fund

Plot The Curves Economic Viability Social Relevance

Economic Viability and Social Relevance Curves

Social Relevance

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Economic Viability and Social Relevance Curves

Social Relevance

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Economic Viability and Social Relevance Curve

Social Relevance

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Paint the Future

Let’s not Rest on Our LaurelsFollow our Dreams

Quotes to Live by The future belongs to those who believe

in the beauty of their dreams – Eleanor Roosevelt

There are no great men, only great challenges that ordinary men are forced by circumstances to meet – William F. Holsey

A man never stands as tall as when he kneels to help a child – The Knights of Pythagoras

“Most people think of future as the endsand the present as the means,

whereas, in fact,the present is the ends

and the future the means.”(Fritz Roethlisberger, 1954)

Sail on … do not anchor there

Thanks for listening!