|Knowing your Coopbank|
What is a Cooperative Bank?
A cooperative organization is a duly registered association of persons with a common bond of interest, who have voluntarily joined together to achieve their social, economic and cultural needs and aspirations by making equitable contributions to the capital required, patronizing their products and services and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.
What is Cooperative Bank of Benguet?
Our Coopbank is the first Cooperative Bank established in the Cordillera that was able to meet the rigid requirements of Cooperative Development Authority and by its supervising agency, the Bangko Sentral ng Pilipinas (formerly Central Bank of the Philippines).
CBB is owned by our General Assembly: the common/stockholders-cooperatives operating within the different parts of the Province and the individual/preferred shareholders within and outside the Cordillera.
We cater quality services to micro, small and medium enterprises, by that, we were the first cooperative bank in the Philippines that received the 2009 Presidential Citation for Best Practices in Improving Access to Finance for Implementing MSME Financing Programs. Furthermore, we provide practical advises and conduct training and seminars for business growth to business oriented and business enthusiast.
With our aim to serve you best, the Bank on its 18'th year has already four operating branches where you could easily access on at your most expedient preferences.
How can I invest to CBB?
There are two ways to invest in our Coopbank, as common/stockholders, (Cooperative-member) and as individual known as our Preferred Shareholders.
How Much is the minimum and maximum investment?
For a common shareholder, a minimum of 20 shares equivalent to Php20,000.00 is required and the maximum is not more than 40% of the total paid-up capital of the CBB.
As preferred shareholder, you just have to buy a minimum of one share amounting to Php 1,000.00.
Can an individual outside the country invest?
This was established to provide affordable loans available for eligible borrowers within the Coopbank’s area of operations.
The fund is capitalized with 5 Million Pesos with the tri-partnership of Cooperative Bank of Benguet, National Livelihood Development Corporation and Overseas Workers Welfare Administration (OWWA)) that aims to provide a credit facility for OFWs and their dependents under the LPDO (Livelihood Development Programs for OFWs).