JOLLIBEE FOODS CORPORATION COOPERATIVE
JFC-Coop started its operations on April 19, 1988. This was registered and founded by 15 Incorporators (all employees of Jollibee Foods Corporation) as JFC Employees’ Consumers Cooperative, Inc., with its Head Office located at Culmat Bldg., E. Rodriguez Ave., Quezon City. The coop started with the primary purpose of helping members augment their income with the daily expenses that they incur, by lending small loans, and at the same time selling consumer items and groceries.
The idea of putting up a Cooperative within the company was conceptualized, thus, the JFC – ECCI (Jollibee Foods Corporation – Employees’ Consumers Cooperative, Inc.) was formed.
* April 18, 1988 – the Jollibee Foods Corporation – Employees’ Consumers Cooperative, Inc. was registered to the Cooperative Development Authority
1988 – 1991
* During its 3rd General Assembly, the BOD reported, for the first time since its Incorporation, that the COOP registered a positive net income
* Issued its first Stock Certificates to the members
* The COOP changed its name from Jollibee Foods Employees’ Consumer’s Cooperative to Jollibee Foods Employees’ Multi Purpose Cooperative
1998 – 2000
* The COOP launched new loan products, like the JED Motorcycle Acquisition Program, Tulong sa Hanap Buhay Program, Housing Loan, and the COOP Housing Equity
* A savings facility the COOP Premium Fund Program (to be later called Premium Savings Fund)
* First time that the COOP conducted a Business Planning Seminar to assist members in the preparation of a Business Plan as one of the requirements in applying for a livelihood loan
* This period registered the COOP’s highest growth of Total Assets in terms of percentage, which increased by 59% from P11M in 1998 to P27M in 1999.
* Greenwich and Chowking were made part of the JFC-Coop Family
* JFC – Coop held its first ever Coop Planning together with the BOD and Management Staff. During this meeting, they were able to formulate the COOP’s Vision/Mission, and the path that the BOD would like the COOP to pursue. They also tackled everything about membership, COOP financial statements, and the proposed amendments of Articles and By-Laws.
* Delifrance joined the growing network of JFC – Coop Family
* Operations were computerized, adopting a system that made the Coop transactions faster and more efficient.
* The Coop successfully made its first ever ‘Fund Transfer’ Transaction, wherein proceeds of the loan availed by the member were transferred to their payroll account via electronic transfer.
* Total Deposits in the form of Member’s Savings went up by 40%, from P12.3M in 2001, to P20.5M in 2002
* Total Member’s Capital Share almost doubled, with P23.2M in 2001, to P40.4M in 2002, or an increase of 43%.
* Total Assets increased by 32% from P57M in 2001 to P84M in 2002.
* The COOP marked its 15th Anniversary highlighted by different activities, such as trade fair, fun walk, livelihood seminars, and Star Search.
* Staged a Graduation Party for 23 children sponsored by the COOP in its supplemental Feeding Program, in line with COOP’s thrust to assist charitable causes, utilizing earnings from fund raising activities that members wholeheartedly support.
* The COOP welcomed Franchises to be members of its organization.
* The COOP has been given the honor of being named as one of the Ten Best Performing Cooperatives in Pasig City for 2003 out of about 80 cooperatives registered in the city. Our Coop is distinguished as one of the best in terms of membership generation, share capital build-up, savings mobilization, and community outreach programs. The award was given on the occasion of the Cooperative Recognition and Awards Night of the City of Pasig last November 12, 2003 in Pasig City Hall
* COOP’s total asset...
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