Cebu People's Muti-purpose Cooperative (CPMPC) or People's Coop as it is widely known was organized in December 21, 1972 through the efforts of VICTO. Its organization was an offshoot of the success in the cooperative organized by the Scarborough fathers in Hinundayan, Southern Leyte, in Eastern Visayas. It was then called the People's Credit Cooperative Inc (PPCI). It first held office at Room 209 J. Borromeo Building, F. Ramos Street, Cebu City. People's Coop started with 27 members with a total intial share capital of two thousand one hundred seventy five Pesos and fifty five cents (2,175.55 php). It was first registered with the Bureau of Agricultural Cooperative Development (BACOD) as a credit cooperative in December 5, 1975 under Registration No. FF-028. With the approval of RA 6938 in 1990 otherwise known as The Cooperative Code of the Philippines, Certificate of Confirmation No. CEB-A-038 was issued by the Cooperative Development Authority (CDA) on October 28, 1993. And in compliance to RA 9520 or the New Philippine Cooperative Code of 2008, the same Authority issued to the Cooperative a new Certificate of Registration CIN-0102070773 in December 18, 2009.
The primary objectives of this cooperative is to help improve the quality of life of its members. Towards this end, the cooperative shall aim.
1. To institutionalize a dynamic savings mobilizations and capital build-up schemes to sustain its developmental activities and long-term investment, thereby ensuring optimum economic benefits to the members, thier families and the general public.
2. To provide goods and services to its members to enable them to attain increased income, savings, investments, productivity, purchasing power and promote among themselves equitable distribution of net surplus through maximum utilization of economies of scale and risk sharing.
3. To provide optimum social and economic benefits to its members.
4. To teach them efficient ways of doing things in a cooperative manner.
5. To propagate cooperative practices and new ideas in business and management.
6. To allow the lower income and less privileged groups to increase their ownership in the wealth of the nation.
7. To cooperate with the government, other cooperatives and people-oriented organizations to further the attainment of any of the foregoing objectives;
8. To promote and advance the economic, social and educational status of the members;
9. To encourage and promote self-help or self-employment as an engine for economic growth and poverty alleviation;
10. To actively support the government and other organizations, both local and foreign, in promoting cooperatives as a practical means towards
10. To actively support the government and other organizations, both local and foreign, in promoting cooperatives as a practical means towards sustainable soci-economic development under a truly just and democratic society;
11. To implement policy guidelines that will ensure transparency, equitable access to its resources and services and promote the interest of the members;
12. To adopt other plans as may help foster the welfare of the members, their families and the community; and
13. To promote cooperative partnership through Access to Competitive Technologies and Innovations for a Viable and Efficient Cooperative.
That the type of this cooperative is Multi-purpose and the purposes for which this Cooperative is organized are to engage in:
1. Savings and Credit Services;
2. General Merchandise;
3. Housing Services;
4. Agricultural related project;
5. Act as remittance agent (RA) or to engage in the business of remitting, transferring or transmitting money on behalf of any person to another person and/or entity as defined under Bangko Sentral ng Pilipinas Circular no. 471 dated 24 January 2005;
6. Development of information technologies (such as Computerized Accounting Systems) and Management Systems and share this with other cooperatives and institutions;
7. Developing software systems that will interconnect ATMs (Automated Teller Machines) of Cooperatives in order to facilitate inter-coop transactions of members;
8. Act as Agent of Micro Insurance (such as CODIS, CLIMBS);
9. Pawnshop operations;
10. Pharmacy services;
11. Air, water and land transportation booking services;
12. Cellphone loading and retailing services;
13. Guardianship of a Laboratory Cooperative;
14. Establishment of branches and satellite offices in the area of operation; and
15. To engage in the importation, distribution, wholesale and retail of rice and other agricultural commodities among its members.