Wednesday, September 28, 2016
"MASS WITHDRAWALS" AT BULACAN CO-OP?
A Bulacan cooperative claimed it experienced "mass withdrawals", "mass resignation" and non-payment of members' loan obligations following the holding of its General Assembly (GA) last April 2016.
This was contained in letters signed by all members of the cooperative's Board of Directors (BoD), sent to a number of members, who were asked to explain why they should not be expelled from the cooperative for alleged actions during the GA which were reported to have contributed to the above claims of the BoD.
"The following days after the General Assembly, there were mass resignations, mass withdrawals and non-payment of members' loan obligations that left the finances of the ______
(name of cooperative) negatively affected," the Bod in the letters said.
Some of the members who were sent letters were charged by the BoD, among other things, with "indecent and provocative display of conduct that was carried out during the General Assembly.." (sic).
Seeking an audience with the cooperative officers to verify if there were indeed records of "mass withdrawals", "mass resignations", or non-payment of loan obligations beyond the normal levels as alleged, a group of members sent such show-cause letters, said that they failed to be granted such audience requested.
Some co-op members also questioned before the Cooperative Development Authority the propriety of the election of officers during the 2016 GA of the cooperative, which used new election rules formulated prior to the said GA. Others claimed these should be implemented only during the GA in 2017 after the 2016 GA has been consulted and had passed upon said rules.
The cooperative had been electing eleven members of its BoD at least for the last decade, until the new set of officers reduced the number to seven by virtue of a board resolution. Many members argue that this should have been done instead through the amendment of the cooperative's Articles of Cooperation and By-laws.
The seven members of the current BoD, are composed of four who were elected, and three which were appointed, according to reports. (END).