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8/6/2019 Corporation Comparative
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Comparison between Pepsi-Cola
Products Philippines, Inc. andPhilippine Coconut Authority
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Articles of Cooperation
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Differences
PEPSI-COLA
1. Credit
2. 9 years3. Eleven (11) Board of
Directors
4.Closed type
5. P 100 par
PCA
1. Multi-purpose: credit,marketing, consumer
2. 25 years
3. Seven (7) Board ofDirectors
4. Open typed
5. P 2000 par
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Similarities
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By-Laws
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1. Membership is open only to all employees of Pepsi.
2. There is a P10.00 charge for membership fee.
3. No member shall hold more than 20% of the share capital.4. A member who leaves the sphere of the operation of the
cooperative shall continue his membership unless ordered by
the Board.
5. Each member shall have but one vote regardless of the
amount of his deposits in the Cooperative Credit Union. Nomember shall vote by proxy.
Pepsi-Cola By-laws
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1. Members are liable for any indebtedness.They can bind with other persons to fuse withthe debt to make them both liable to it.
2. Annual general assembly is held every third
Sunday of February.3. Fiscal year is from January 1 to December 31.
4. They are only allowed to withdraw once a
month on their savings deposit account.5. (P2000 fixed deposits)-tentative pa ni Joy.
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1. Any member can avail a loan but getting a loan for the
second time is prohibited unless previous loan has beenpaid.
2. The amount of a loan which a member can borrow shallbe in accordance with his earning capacity, his creditstanding in the community, plus his savings with the
Cooperative Credit Union and the solvency of his co-makers or guarantors.
3. A loan shall bear interest computed at fourteen percent(14%) per annum on the unpaid balance of the loan.
4. A member who fails to pay a loan when due, shall pay afine rate of two percent (2%) a month provided that in nocase shall each monthly fine be less than twenty centavosand such fine to be in addition to the interest due.
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1. Appeals regarding the decision of the Credit
Committee shall be taken into the joint meeting ofthe Board and Supervisory Committee.
2. Net savings is allocated in the following manner:
Reserve fund- 20%
Education fund- 10%
Other funds- (optional)
Balance- 60%/70%
*the balance is distributed as interest on capital (fixed deposit) and
patronage refunds, provided that the amount available for
interest on capital shall not be less than 50% or more than80%of the indicated balance.
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17. There shall be three committees to be made:
a.) Credit Committee- processes the application for loans and withdrawals ofdeposits by the members.
b.) Supervisory Committee- shall examine the affairs of the Cooperative CreditUnion and submit quarterly, semi-annual and annual examination reports to
the Board and the annual general assembly.
c.) Education Committee-1
Spreads the knowledge of Cooperative principles andmethods among the members and the public to enhance their understandingof the aims and purposes of the Cooperative.2To familiarize the members
with the duties and requirement of the Cooperative Credit Union and as wellas the policies of the administrative offices of the Cooperative.3To develop
and maintain a strong loyalty among the members. 4To make arrangements
for the training of directors, officers, committee members and employees of
the Cooperative. 5To help the Cooperative acquire and hold members. 6Todevise a program of education, training and promotion.
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Philippine Coconut Authority
By-laws1. Membership is open to all persons of legal age.
2. Application for membership is to be held in writing upon theapproval of the Board. Anyone who wishes to be a member of
the cooperation shall subscribe at least 4 shares (P8, 000) and1 share should be paid upon submission.
3. The liability of a member shall be limited. No member shall
be liable for any indebtedness of the cooperative beyond hissubscribed shares.
4. There is a P25.00 membership fee.
5. Termination of the membership is by withdrawal or expulsion
in such cases.
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1. Annual general assembly is held every third week of
December.
2. Fiscal year is from December 1 to November 30.
3. There is a provision for continuous capital build-up
in which every member shall participate in the share
capital of the cooperative.
a) At least one percent (1%) of his basic monthly
income
b) At least five percent (5%) of his annual intereston capital and patronage refund: and
c) At least one percent (1%) of each loan granted
him.
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1. At least one percent (1%) of the gross income of the
cooperative shall be set aside to constitute the CooperativeGuarantee Fund which shall be a social fund for the purposeof guaranteeing the realization of the goals of the
Cooperative, payment of common services and facilities for
the benefit of the members and for investment in othercooperatives. When the Cooperative dissolves, the guarantee
fund shall not be distributed to the individual members butshall be donated to the Cooperative Education Training Fund.
2. Any member may open a savings deposit, at the rate of
interest which shall be determined by the Board at thebeginning of each fiscal year which in no case shall exceed
the rate prescribed by the Central Bank of the Philippines.
3. Fixed deposits are prescribed by the Board of directors.
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1. Loans are granted to members who are entitled to vote. The
Board of directors prescribes the terms and conditions forgranting loans.
2. Appeals from the decision of the Credit Committee shall be
made at the joint meeting of the Board of directors and theAudit and Inventory Committee.
3. The funds collected shall be allocated in the followingmanner:
a) Ten percent (10%) shall be set aside for the reserve funds.
b) Five percent (5%) is allocated for the Education/ Training
fund.c) One percent (1%) shall be allocated to land and building
fund, community development, etc.
d) The remaining net of seventy percent (70%) surplus shall bemade available to members in the form of interest on share
capital.
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1. In transferring shares, the amount to be paid is the parvalue/ book value of the share. If the cooperative refusesto purchase such shares, the member shall have the right
to sell them to any member of the cooperative. Amember can transfer a share if:
a) He/she has held such shares or interest for at leastone year.
b) The transfer is made to a member of thecooperative or to a person who falls within the
fields of membership of the cooperative, providedthat the said person is acceptable to thecooperative; and
c) The board has approved such transfer.
*there shall be a P10.00 transfer fee.
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16. The investment of its capital is in any of the
following:
a) in shares or debentures or securities of anyother cooperative;
b) in any reputable bank on the locality, or in anycooperative;
c) in securities issued or guaranteed bygovernment;
d) in real estate primarily for the use of thecooperative or its members; or
e) in any other manner approved by the generalassembly.
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Similarities ofBy-laws
1. An applicant rejected may appeal his case to the next
general assembly by giving notice to the secretary ofthe Cooperative Credit Union 30 days before the
next general assembly whose decision shall be final.
2. Follows the same flow in the order of business.
3. Application for loan shall state specifically the
purpose for which the money is to be used.
4. The cooperative may borrow money at any source, atthe best terms & conditions available & in such
amount that may be needed.
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1. The books of accounts, documents & othercorporate records shall be kept in accordancewith accepted accounting & existingcircumstances.
2. Any member who wishes to withdraw from theCooperative shall submit a written application tothe Board. No member shall be allowed towithdraw or terminate his membership if he/shestill has pending obligations with the
cooperative.
3. A member be terminated by a vote of majorityof the Board of Directors.
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Duties and Responsibities of the
Board ofDirectors
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Pepsi-Cola
1. President- presides the general assemblies and
meetings of the board, countersign all checks, draftsand notes drawn by the cooperative credit union,
signs all documents requiring his signature, cause theup-to-date keeping of books, record and accounts
and responsible for the production of the same at thetime of audit, inspection and inquiry; perform all
other duties connected with his office.2. Vice-president- shall perform the duties and
responsibilities of the president in his absence.
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1. Treasurer- 1Shall manage and shall be the custodian of the
corporate funds, securities, and all other valuable propertyand documents of the cooperative credit union. 2He shallmake disbursements only upon proper authorization. 3He shall
sign all checks, drafts, and notes, and other negotiable papers
drawn by the cooperative Credit Union. 4He shall maintain
records of accounts in such a manner that the true and correctcondition of the cooperative may be ascertained therefrom at
any time. 5He shall render a written monthly report to theboard and supervisory committee within seven days after the
close of each month consisting of the tril balance of the
accounts. 6He shall also render quarterly, semi-annualfinancial statements and shall also carefully preserve all
books.
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1. Secretary- 1Shall keep a complete list of all
meetings of the Board and general assembly.2He shall give notice of all meetings called.3He shall furnish the CDA director withcopies of minutes of all kinds of meeting. 4He
shall perform the duties and responsibilities ofthe treasurer in case of his absence.
2. Officers at arms- shall see to it that all
meetings and conferences shall be held in apeaceful and orderly manner.
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FinancialStatement
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Statement of Operation
Total Revenues Total Ex penses Net Surplus
-40
-30
-20
-10
0
10
20
-40
-30
-20
-10
0
10
20
Pepsi-Cola
PC A
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Statement ofFinancial Condition
Ass
ts L
b
t
s
q
ty
5
5
5
s
-
A