Zamboanga City soon to have cooperative bank
WEDNESDAY, 10 AUGUST 2011 20:05 BONG GARCIA JR. / CORRESPONDENT
ZAMBOANGA CITY—This city will soon have a cooperative bank, the first banking institution that will cater to the needs of the different cooperatives in the region.
This developed as the construction of a building to house the Banco Cooperativa de Zamboanga has started following the groundbreaking ceremony on Monday afternoon.
The cooperative bank is being constructed at a city government-owned 200-square meter lot inside the Sta. Cruz Commercial Complex along Veterans Avenue.
The cooperative bank will be a one-floor building with an area of 116 sq m. It is projected to cost P2.2 million. Its construction is expected to be complete within 75 working days.
The groundbreaking and construction came after the city government, through Mayor Celso Lobregat, forged a usufruct agreement allowing the cooperative bank to use the city-owned lot for a period of 25 years and renewable for another 25 years.
The Bangko Sentral ng Pilipinas (BSP) has formally approved on November 25, 2010, the proposal of the 15 multi-purpose cooperatives in this city to establish a bank devoted to serve the banking needs of the cooperative sector in Zamboanga.
“This is a realization of our dream. It was in 1999 when we started pushing for the establishment of this bank,” Lobregat said.
The cooperative bank’s prospective manager is Ric Cabato Jr., who will be assisted by a staff of seven.
Amelita Lachica of the Zamboanga Social Welfare and Development Multipurpose Cooperative is interim board chair, while Edmund Que of the PPA Employees Multipurpose Cooperative is the interim vice chair of the bank's cooperators.
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CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
Landline: +63495010127 Cellphone: +639152919580
DEVJOBS - http://www.devjobsmail.com
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CONSULTING - http://www.carlosani.com
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