Aldrin Maru J. Gannaban

BC 1-2D

Introduction (Brief History):

In the latter part of the ’70s, a slaughterhouse in Novaliches was ordered closed due to sanitation and health considerations. This prompted the vendors in Susano Market to hold a meeting. Their agenda was mainly to provide solution to the meat vendors’ problem of lack of meat supply. The other vendors were also concerned about the lack of capital to continue their business. Thus, in a subsequent gathering the idea of forming a cooperative was brought up.

There were 15 founders who infused a total initial capitalization of P7,000.00 to the organization. Soon more people were convinced with the idea of pooling each other resources to address one another’s needs. There were 70 original members when Novaliches Vendors Credit Union, Inc. (NVCUI) was first registered on Sept.3, 1976. On February 13, 1986 the co-op was re-registered as the Novaliches Development Cooperative (NOVADECI).

Membership and Subscription Agreement:

In connection with such membership, I hereby agree to the ff. terms and conditions:

1 . To comply with the provision of the Articles of Cooperation, the By-laws and policies set by the Board, the General Assembly as well as acts of duly constituted authorities and failure on my part to do so, NOVADECI, at its option, may:

a) Fine b) Suspend c) Expel me from membership, whereupon all my shareholding in, shall be answerable for my liabilities’ to NOVADECI.

2. To attend all meetings, conference and seminars as required by the Board of Directors and failure on my part to do so, unless previously excused by the Board, to pay the fine P____ and make up for the activity I have missed.

3. To participate in the planned thrift and savings program by:

a) Subscribing for at least 150 shares valued at P15, 000 and paying for them either in lump sum or in regular installments. If on installments, to pay at least the value of 5 shares on or before the Cooperative Membership Orientation (COMO) and the balance upon approval by the Board of my application for membership in regular annual, monthly/bi-monthly/weekly/daily installments of P1500;

b) Contributing to its share capital an amount equivalent to 2% of my monthly income;

c) Contributing at least 5% of every loan granted me and at least 50% of the annual interest and patronage refund due to me; Failure on my part to comply with my financial obligation, unless excused by the Boar, shall make me liable for a fine of 2% a month on the amount in default.

4. To pay the membership fee of P830.00

5. To comply with the directives of duly constituted authorities as well as the decision of the Board regarding the operating policies of NOVADECI.

Membership Requirements:

If you are from ages 18-55 yrs.old, regarding or working within Quezon City or Caloocan City you are welcome to join NOVADECI:

1. 4 PCS. OF 1×1 colored I.D picture

2. Membership:

Initial Share – P500.00

Membership Fee – P100.00

Registration Fee – P200.00

NOVADECI I.D. – P20.00

Passbook – P10.00


Total: P 830.00

Membership Educational Seminar (Educational Services):

– Cooperative Membership Orientation (COMO)

– Policy Review

– Financial Counseling & Advisory Services

– Staff and Officers Development Program

– Scholarship Grants

– Tuition Fee Discounts – Ti up with STI Novaliches

– Livelihood Training Program

– FREE Legal Assistance / Consultancy

– On-the-job Training Accomodation

NOVADECI Training Center:

– Aims primarily to provide a venue for learning and other group activities, where man’s development is a joy and opportunity, where service above profit is a policy…


On the Membership and Subscription Agreement of Novaliches Development Cooperative (NOVADECI), I may say that these agreements on membership is approved on my part because it serves as an evidence on being an individual who really respect and have a knowledge to follow these policies.

In doing in failure in complying with the provision of the Articles of Cooperation, the By-laws and policies set, for me, its a good condition because NOVADECI have its option for us if we are going to pay, suspend, or expel, and this matter serve as a lesson for the members.

The contributions on share capital, every loan granted, and annual interest and patronage refund is a way on facing the failure on financial obligation, and this matter for me is a good idea because these sharing will use on the different activities and seminars to be conduct.

The Membership Educational Seminar helps people to gain more knowledge and skill as part of coop servicing because through these, people enhance their ability to serve people and community.

I conclude that, these policies make people who want to be a member of NOVADECI aware on the sanctions that may impose against a person or perform any acts necessary to make the sanction/s effective without going to court. The member relation in the area of Voluntary and Open Membership in NOVADECI brings individual to be a service-oriented and people-oriented who wnt to be a coop member and willing to accept the activities, sanctions, and rewards.