Philippine Cooperative Code of 2008

The Philippine Cooperative Code of 2008 is the law that governs cooperatives in the Philippines.

The primary goal of the Philippine Cooperative Code is to support the growth and development of cooperatives to achieve economic development and social justice.

The Philippine government actively encourages the formation and growth of cooperatives by providing technical guidance, financial assistance, and other vital services.

This principle recognizes that cooperatives should have the freedom to manage their own affairs and make decisions independently.

The principle of subsidiarity in cooperatives means that the cooperative sector will take the lead in promoting, organizing, and supporting other cooperatives, with government support where necessary.

A cooperative is a group of people who voluntarily join together to meet their shared social, economic, and cultural needs.

Cooperatives are characterized by their democratic governance, where all members have an equal say in decision-making.

Cooperatives operate based on universally accepted cooperative principles such as open membership, democratic control, and sharing of profits.

Cooperatives are open to anyone who can use their services and is willing to take on the responsibilities of being a member. There's no discrimination based on things like gender, race, or religion.

Members have a say in how the cooperative is run. They vote on policies and decisions. Each member has an equal vote, no matter how much they contribute financially.

Members contribute to the cooperative's capital, and they share in the benefits. They receive limited compensation, and any surplus is used to develop the cooperative or benefit members.

Cooperatives can make agreements with other organisations (including the government) as long as they retain control and maintain their cooperative identity.

Cooperatives provide training to members, representatives, managers, and employees so they can contribute effectively to the success of the co-op.

Cooperatives work together at different levels (local, national, regional, international) to achieve goals and support each other.

A cooperative's measurement of its social impact, including how its actions benefit the community and how it holds itself accountable to its members.

An audit that analyzes how effective and efficient a cooperative is in its operations, including management and individual teams.

A cooperative that focuses on a single line of business or purpose, keeping its activities aligned with its core area.

Cooperatives that provide services to their members, encompassing various sectors like transportation, communication, insurance, and utilities.

An organization formed by three or more primary cooperatives with the same line of business, operating at the municipal, provincial, or city level.

A person, either individual or organization, who follows the cooperative principles and is officially accepted as a member by the cooperative.

The official gathering of all members of a cooperative to make decisions and carry out obligations, according to the cooperative's rules and regulations.

A group responsible for managing the day-to-day operations of a cooperative, as outlined in its rules and regulations.

A group appointed for specific tasks and responsibilities within a cooperative, as established by the bylaws or decisions made by the board or general assembly.

The official document outlining the rules and regulations of a specific cooperative, registered under the Cooperative Code.

The bylaws of a cooperative, registered under the Cooperative Code, that detail the rules of the cooperative, including any changes.

The official act that legally recognizes a cooperative. It is evidenced by the issuance of a certificate of registration.

A process where a cooperative evaluates its social impact and ethical performance compared to its stated values and social responsibility goals.