FILIPINOS are establishing cooperatives in order to secure their future upon their return to their home country. Several cooperatives are now being set up in Jeddah, Riyadh, and the Eastern Province. “We have to secure our future through the establishment of cooperatives; this is by far the most feasible kind of enterprise because it is composed of a group of people who share the same values and objectives in their entrepreneurial goals,” said Rodolfo M. Buenavista, chairman of the newly organized United Resources Multi-Purpose Cooperative (UREMCO), which has recently been registered with the Cooperative Development Authority. He said the sharing of values and objectives is essential in the success of any business and enterprise. UREMCO has recently elected officers and a board of directors. The officers are mostly professionals and include Rodolf M. Buenavista, chairman; Edison A. Plandez, vice chairman; Ernesto R. Villanueva, treasurer; and Nicasio P. Eugenio, secretary. UREMCO also designated 15 members of the board of directors, namely, Rodante P. Agregado, Isagani G. Antonio, Jessie F. Asilo, Rodolfo M. Buenavista, Zoilo P. Caringal, Joseph Angelo P. De Guzman, Lorenzo G. Gallego, Abdullah O. Macala, Venturito P. Macatuggal, Romeo A. Masa, Alexander A. Nilo, Edison Plandez, Rogelio D. Tubeji, Nestor Raphael A. Valenciano, and Ernesto R. Villanueva. Among the members of the cooperative are Alfredo C. Abrenica, Wilson Brua, Domingo C. Dela Cruz, Agerico B. Lumitao, Efren C. Monzon, Eduardo A. Pascual, Eleno L. Sunas Jr., and Raymund E. Tamaray. The new cooperative is now raising more funds, in addition to its approved capitalization, in order to achieve a desired level of funding that will support the kind of business being planned, according to Buenavista. One of the businesses being considered is the establishment of a gas station. “We will start as a small player, and gradually develop,” Buenavista said. Another plan, which will require a large amount of capital, is the establishment of an Overseas Filipino Workers (OFWs) bank. “These are plans we feel OFWs must pursue as part of their reintegration program,” said Nestor Raphael A. Valenciano, one of the prime supporters of the cooperative movement among Filipino migrant workers. In Dammam, another group has been formed to venture into the cooperative business. The United Filipino Multi-Purpose Cooperative, Inc., whose officers were recently inducted into office by Philippine labor attaché David Des T. Dicang, plans to engage in agro-industrial ventures. This Filipino group is composed mostly of engineers, technicians, and marketing men. This group is also raising money to meet the target that will support their planned enterprise. “Our plan is to go slow,” said Solomon Atuel, Jr., chairman. The group has already formed a team that will push through the cooperative ventures. The group is composed of Alejandro Mones Jr. (vice chairman), Jowel Joyno, Rommel Fernandez, Alvin Macusi, Dennis Dizon, William Cortejos, Jil Lampayan, Rene Badlonado, Harry Rafael Acha, Herman Quino, Fernan Cabundoc, Johnny Deximo, Edwin Dante, Max Cabeltis, and Rodrigo Legaspi. The first cooperative to be established in the Eastern Province was the EP-OFW Multi-Purpose Cooperative which was founded by the Overseas Filipino Workers Congress in the Eastern Province. Many cooperatives which have been organized in Jeddah and Riyadh have diversified cooperative purposes. The establishment of cooperatives is being encouraged by the Philippine Department of Labor and Employment as a vehicle for the reintegration of Filipino migrant workers.
