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Minutes of the MSE Savings Club 22nd General Assembly on January 7, 2012 at MASS-SPECC Bldg., 2nd Floor, Cagayan de Oro City Proposed Agenda Declaration of Quorum Call to Order Proof of Due Notice Approval of the Proposed Agenda Reading and Approval of 2011 General Assembly Minutes Acceptance of New Members Consideration of Reports  BOD and Management Report  Audit and Supervisory Committee Report  Credit Committee  Election Committee  Investment Committee  Education Committee Presentation and Approval of the 2012 Budget Election of Officers Other Matters Adjournment and Distribution of Dividends and Patronage Refund

1. PRELIMINARIES It started with a Thanksgiving Mass at 9:00 o’clock in the morning. The Opening Program was hosted by Jenalyn Cortes and Fritz Earvin Melody Comonsad. Ms. Almira T, Matalines led the National Anthem and Cooperative Pledge. Mr. Dennis Z. Santander shared his Opening Remarks. The Manager of MSE Savings Club, Grace A. Fuertes introduced the new members of MSE for 2012. INSPIRATIONAL MESSAGE Inspirational message shared by the CEO of MASS-SPECC, Bernadette O. Toledo. She talks about the value of cooperativism, volunteerism and teamwork that an MSE member should possess in order to stand longer, stronger and larger. The speaker was inspired from the book of Cooperative Journey where she highlighted Felipe Mabalos, a gardener in Ateneo de Cagayan University, who could hardly read nor write except his 1

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name. He deposits regularly but hardly loans. He saves money to the cooperative for the members to use. There was a dance number from the Angelito’s angels. Successful testimonies from MSE members: James Phillip Jamila, Dahlia Cabarles and Ricky Edrolin on how MSE Savings Club helped their lives improved. The program was close by the Chairperson of MSE, Emmanuel Cabarles.

2. Declaration of Quorum and Call to Order The secretary Josielie Catherine Amora Doyog attested the existence of quorum (46 of 85) and signified the proof of notice. The 22 nd Annual General Assembly started at 12:00 in the afternoon after the Chairperson Emmanuel T. Cabarles called the meeting to order.

3. Approval of the Agenda On motion of Mr. James Phillip A. Jamila and jointly seconded by Mr. Randyl Balzon and Ms. Almira Matalines. It was moved to adopt; GA Resolution No. 001, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to approve the proposed agenda of the 22nd General Assembly as presented. NO OBJECTION. MOTION APPROVED.

4. Reading and Approval of the 2011 General Assembly Minutes On motion of Mr. James Phillip A. Jamila and seconded by Ms. Almira T. Matalines, it was moved to adopt; GA Resolution No. 002, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to dispense the reading of 21st General Assembly minutes. NO OBJECTION. MOTION APPROVED.

The Chairman of MSE, Dir. Emmanuel T. Cabarles led the perusal of the 2011 General Assembly minutes.

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On motion of Ms. Dahlia B. Cabarles and seconded by Mr. Randyl Balzon, it moved to adopt; GA Resolution No. 003, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to approved the of 21 st General Assembly minutes. NO OBJECTION. MOTION APPROVED.

5. Presentation of New Members The new members as presented and where given the chance to introduce themselves, give their views and expectations on MSE Savings Club        

Caballeda, Edgar – absent Ozarga, Alpha Omega Michelle S. Amora, Valmarito Ganas, Jemborn Maglanoc, Donna Grace Maglente, Maritess Padenio, Mark Vencint S. Nuñez, Fritzie

On motion of Mr. James Phillip A. Jamila and seconded by Mr. Jonnel Dytingco it wa moved to adopt; GA Resolution No. 004, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the new members of MSE Savings Club. NO OBJECTION. MOTION APPROVED.

6. Consideration of Reports 6.1. BOD and Management Report Chairperson Emmanuel T. Cabarles read the BOD and Management Report presented inside the kit. On motion of Mr. James Phillip A. Jamila and seconded by Mr. Randyl Balzon, it was moved to adopt;

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GA Resolution No. 005, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the BOD and Management Report. NO OBJECTION. MOTION APPROVED. 6.2 Supervisory and Audit Committee Report Mr. Randyl Balzon presented the Supervisory and Audit Committee Report. As presented the delinquency rate is 5.77% and according to the manager of MSE Ms. Grace A. Fuertes the delinquency rate as stated has nothing to worry. On motion of Ms. Dahlia B. Cabarles and jointly seconded by Ms. Jovelyn Lara and Mr. Jonnel Dytingco, it was moved to adopt; GA Resolution No. 006, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the Audit Committee Report as presented. NO OBJECTION. MOTION APPROVED. 6.3 Credit Committee Report Mr. James Phillip A. Jamila presented the Credit Committee Report. He introduced the new product and the enhancement of the existing product with the highlight of longer term. The modification of loan products is designed to meet the needs of the members as well as to ensure the capacity to pay of the borrower. He also pointed out that a MSE borrower must be prudent and a responsible borrower to check if their loans has been deducted from their salary. The exact presentations of new products are found inside the kit. On motion by Mr. Randyl Balzon and severally seconded by Mr. Fritz Earvin Melody Comonsad, Ms. Almira Matalines, Mr. Paul Acido and Mr. Jonnel Dytingco, it was moved to adopt; GA Resolution No. 007, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the Credit Committee Report. NO OBJECTION. MOTION APPROVED. 4

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6.4 Election Committee Report Ms. Almira Matalines presented the new guidelines of election and the vacant positions for the new set of officers. Interested members for the position will apply and fill-out an application form. The notice was posted through Facebook and MASS-SPECC web page. She added that, it was first time in MSE Election where members have to file their candidacy. It simply implies that these people are aware of the responsibilities behind each position. On motion of Mr. Randyl Balzon and jointly seconded by Mr. Paul Acido and Jonnel Dytingco, it was moved to adopt; GA Resolution No. 008, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the Election Committee Report. NO OBJECTION. MOTION APPROVED. 6.5 Investment Committee Report As presented by Mr. Ermie L. Hilario PAMI investment as of January 6, 2012, 9 months and 12 days old presently has 9% interest rate as of. There are 14 members of MSE invested in PAMI. He also presented other investment product from PRU Life U.K. the Prulink Assurance Account Plus, requires a total annual investment per member according to age bracket up to 60 years old. The 75% of the total will be shouldered personally and the 25% will be counterpart of MASS-SPECC. Ms. Almira Matalines questioned that if a member cannot reach the age of 60, is there a chance that the money will be returned? It was answered by Mr. Ermie Hilario that the investment is self liquify after 6 years. Ms. Rosevim Lomongo suggested to put it into a resolution. Ms. Bernadette O. Toledo suggested that the personal counterpart of 75% can be borrowed from MSE as another loan window and MSE will fund the payment annually. The manager of MSE Grace A. Fuertes ask the CEO of MASS-SPECC Ms. Bernadette O. Toledo if MASS-SPECC will shoulder the sum assured raised to P1,000,000.00. Mr. James Phillip A. Jamila ask if there will be contract for security that for over 60 years MASS-SPECC will continually provide the 25% counterpart. 5

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Ms. Aileen Rina A. Balingan had a concern about members who are not interested on investing, will MSE provide to reach the total amount required? Ms. Bernadette O. Toledo, Investment Committee answered that it will be the choice of the members if she/he wants to join or not. The Credit Committee Ms. Dahlia B. Cabarles, suggested to have a resolution requesting the Credit Committee to create a loan window for investment related products of MSE. Ms. Glenn A. Tubilag also suggested that Cash Gift and Productivity can be served as collateral for a loan from MSE to be used as personal investment. On motion of Ms. Rosevim M. Lomongo and seconded by Mr.James Phillip A. Jamila, it was moved to adopt; GA Resolution No. 009, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the Investment Committee Report and approved that the Credit Committee will create a loan window for investment related products. NO OBJECTION. MOTION APPROVED. 6.6 Education Committee Report Engr. Dennis Z. Santander presented the Education Committee Report and proudly informed that MSE had successfully done the 3 Years Strategic Planning last August 26, 2011. Other highlights from the EDCOM Report was read by Engr.Dennis Z. Santander as part of the kit. On motion of Mr. Eugene Pacana and jointly seconded by Mr. Randyl Balzon and Mr. Jonnel Dytingco, it was moved to adopt; GA Resolution No. 010, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the Education Committee Report. NO OBJECTION. MOTION APPROVED.

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7.0 Presentation and Approval of the 2012 Budget The 2012 Budget was presented by Ms. Grace A. Fuertes, the manager of MSE Savings Club. The presentation was read found in the kit. On motion of Mr. Eugene Pacana and jointly seconded by Mr. Randyl Balzon and Mr. Jonnel Dytingco, it was moved to adopt; GA Resolution No. 011, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to accept the proposed 2012 Budget. NO OBJECTION. MOTION APPROVED.

8.0 Election of Officers BOARD OF DIRECTORS 2012 ELECTION There were three (3) vacant positions for Board of Directors. The outgoing directors were: Hermes G. Vergara, Doris Perez and Jerry Mocorro.

On motion of Mr. Randyl Balzon and seconded by Dahlia Cabarles, it was moved to adopt; GA Resolution No. 012, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, accept and approved members who applies for vacant position by filing candidacy form . NO OBJECTION. MOTION APPROVED. On motion of Ms. Dahlia Cabarles and seconded by Dir. Carlito D. Baclayon Jr. and Ms. Glenn A. Tubilag, it was moved to adopt; GA Resolution No. 013, Series of 2012 B RESOLVED, AS IT HEREBY RESOLVED, to approve the nomination of O vacant position or fill in new officers and absent members cannot be A nominated. R D NO OBJECTION. MOTION APPROVED. The Election of Board of Directors and the nominees were: Randyl Balzon, Jonnel Dytingco, Rosevim Lomongo and Dennis Z. Santander. Ms. Alpha Omega Michelle moved to close the nomination and severally seconded. 7

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The new three Board of Directors to complete the set were: Mr. Randyl Balzon, Jonnel Dytingco and Rosevim Lomongo BOARD OF DIRECTORS 2012 Emmanuel T. Cabarles Leonido M. Moran Joel L. Egasan Carlito D. Baclayon Jr. Rosevim M. Lomongo Randyl D. Balzon Jonnel E. Dytingco SUPERVISORY AND AUDIT COMMITTEE ELECTION The nominees for SUPCOM were: Jessa Careon, Mary Cris Estillore, Jovelyn Lara and Analyn Mejares. Moved to close by Ms. Analyn Mejares and seconded by Dir. Carlito D. Baclayon Jr. SUPERVISORY AND AUDIT COMMITTEE 2012 Jessa R. Carreon Mary Cris Estillore Jovelyn Lara CREDIT COMMITTEE ELECTION CRECOM 2012 Dahlia B. Cabarles James Phillip A. Jamila Fritz Earvin Melody Comonsad Moved to close by Ms. Dahlia Cabarles and severally seconded. ELECTION COMMITTEE ELECTION There were three (3) who applied for the ELECOM: Doris L. Perez Almira T. Matalines Martin Virgil Janubas There considered the new set of ELECOM 2012, since only 3 of them applied for the position.

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9.0 Other Matters MSE would like to donate for the victims of Typhoon Sendong. The donation will be taken from the CDF or Cooperative Development Fund, as presented by the Manager of MSE, Ms. Grace A. Fuertes. A lot of questions asked from the General Assembly like,who would be the exact beneficiary? As questioned by Mr, James Phillip A. Jamila. Ms. Bernadette O. Toledo added that affected MSE membes must be prioritize. Engr. Dennis Z. Santander asked to define affected victims, it was answered by Ms. Bernadette O. Toledo it will per ratio and per effect. Mr. James Phillip A.Jamila suggested also to give DSWD children who are also greatly affected by the flood. Dir Carlito D.Baclayon Jr.,Rosevim Lomongo and Glenn A. Tubilag agreed to let MASS-SPECC handle and decide on the distribution yet rest assured that affected members of MSE will be provided first. Ms. Grace A. Fuertes again asked the approval of the General Assembly if P100,000 would be enough or as to how much? Ms. Dahlia B. Cabarles, informed the General Assembly that it took MSE 20 years to gather the amount allocated in the CDF. Engr. Dennis Z. Santander suggested that the donation will be taken from the Social Fund instead. On motion by Ms. Rosevim M. Lomongo and seconded by Mr. Paul Acido, it was moved to adopt; GA Resolution No. 014, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to approve to donate P100,000.00 to the victims of Typhoon Sendong. NO OBJECTION. MOTION APPROVED. On motion by Engr. Dennis Z. Santander and seconded by Ms. Dahlia B. Cabarles, it was moved to adopt; GA Resolution No. 015, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, to approve that the donation of P100,000.00 will be taken from the Social Fund. NO OBJECTION. MOTION APPROVED.

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10.0 Adjournment On motin by Ms. Rosevim Lomomgo and severally seconded it was moved to adopt; GA Resolution No. 016, Series of 2012 RESOLVED, AS IT HEREBY RESOLVED, that there are no matters to be discussed and let the General Assembly be adjourned at 2:52 in the afternoon. NO OBJECTION. MOTION APPROVED. C E R T I F I C A T I ON I hereby certify that the foregoing are true and correct minutes of the MSE

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Savings Club 22nd General Assembly held on January 7, 2012 at MASS-

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SPECC Bldg., Second floor, Tiano-Yacapin Sts. Cagayan de Oro City.

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Prepared By :

Noted By:

Josielie Catherine Amora Doyog Recording Secretary

Dir.Emmanuel T. Cabarles Chairman MSE Savings Club

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