Financial Performance of Pilgrim Christian Community Consumers Cooperative in Cagayan de Oro City, Philippines

Abstract

Financial performance is an important component in considering the start-up and decision-making processes for beginning cooperative members. This study focused on the financial performance of Pilgrim Christian Community Consumers Cooperative in Cagayan de Oro City, Philippines. A descriptive research design was used in this research. Interview of the selected members and officers was the source of the primary data and annual report of the cooperative was the source of the secondary data. Findings revealed that there was a continuous increase in the number of members of the cooperative with 50% increase in 2014 and 176% increase in 2015 based on the 2013 data. In addition, there was also an increase in the total assets of P1.6 M or 31% based on 2014 record. Furthermore, the increase in share-capital or members’ equity was also favourable from PHP3 M in 2014 to P3.7 M in 2015 or 23% increased based on 2014 data. Results further revealed that the total revenue of the cooperative amounted to PHP722 thousand in 2014 and became PHP1.4 M in 2015. The net income or net surplus of the cooperative was PHP669 thousand in 2014 and increased to PHP1.2 M in 2015. In conclusion, the cooperative was doing well in the operations with strong perseverance, good management, honesty, and transparency. The cooperative grew in number of members and increased in the amount of: assets, equity of members, revenues, and net surplus. Recommendations are: the management should continue its endeavour in pre-orientation seminar to have a massive increase in the number of members, the cooperative-store operations manager should adopt new marketing strategies in distributing and selling of consumer products, and the Board of Directors should have a strong plan for business expansion, specifically the Multi-purpose cooperative.