VISION
We are a cooperative committed to provide fully-integrated financial services for members to achieve economic independence.
THE COOPERATIVE PRINCIPLES ARE GUIDELINES BY WHICH A COOPERATIVE PUTS ITS VALUES INTO PRACTICE.
1st Principle: Voluntary and Open Membership Cooperatives are voluntary organizations open to all persons able to use their services and willing to accept the responsibilities of membership without gender, social, racial, political, or religious discrimination.
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2nd Principle: Democratic Member Control Cooperatives are democratic organizations controlled by the members, who actively participate in setting their policies and making decisions. Members have equal voting rights
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3rd Principle: Member Economic Participation. Members contribute equitably to and control the capital of the cooperative. Part of that capital is usually the common property of the cooperative. Members receive limited compensation on capital subscribed as a condition of membership.
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4th Principle: Autonomy and Independence Cooperatives are autonomous, self-help organizations controlled by their members.
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5th Principle: Education, Training, and Information Cooperatives provide education and training for their members, elected representatives, managers, and employees so they can contribute more effectively to the development of the cooperative.
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6th Principle: Cooperation Among Cooperatives. Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional, and international structures.
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7th Principle: Concern for Community Cooperatives work for the sustainable development of their communities through policies approved by their members.
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HISTORY
The ADBEMC began its operations in September 1992 following its official registration with the Cooperative Development Authority (CDA) and the reorganization of the previous ADB Employees’ Kilusang Bayan for Credit (Credit Union) as a multipurpose cooperative.
The ADBEMC provides quality goods and services to its members at competitive prices. The dawning of the new millennium has added new dimensions to the goals and objectives of the ADBEMC. With the crafting of its VMC statements, the ADBEMC has initiated steps to support the development and promotion of new products and services, build up entrepreneurial skills of members, and encourage members to play an active role in their respective communities.
GENERAL ASSEMBLY
COMPOSITION OF THE GENERAL ASSEMBLY
The GA of the ADBEMC is composed of members entitled to vote, duly assembled, and constituting a quorum.
ANNUAL GENERAL ASSEMBLY
The Annual General Assembly is held every third Thursday of March at the principal office of the ADBEMC or any place within its area of operation and at such time as the Board of Directors (Board) may designate.
Special General Assembly (SGA) may be called at any time by a majority vote of the Board to consider urgent matters requiring immediate membership decision. The Board may call a SGA within 30 days from receipt of a written request from:
1. At least ten percent of the total number of members entitled to vote;
2. The Audit and Inventory Committee; or
3. The federation or union of which the ADBEMC is a member.