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SAMULCO holds 55th Annual Regular General Assembly (ARGAM)

Atty. Annabelle Opamin holds post as the new chairperson

Sta. Ana Multipurpose Cooperative (SAMULCO) successfully held its 55th Annual Regular General Assembly Meeting (ARGAM) in a sequential and blended manner on March 9 and March 24, 2024. The first part of the 55th ARGAM was conducted online via Facebook live streaming and Zoom Meeting. During this part, the Chairperson of the Board Dir. Victor Bonifacio O. Hofilena, MD delivered updates on SAMULCO’s implemented programs and financial standing. Concurrently, the Chairperson of the Election Committee Ms. Erlinda Tuble declared the commencement of the election period. On March 24, 2024, the second part of the 55th ARGAM took place at USeP Obrero Gym and was also broadcast via Zoom and Facebook Live. The board of directors, management, and committees presented their reports to the general assembly. Additionally, the newly elected Board of Directors, Election Committee, and Audit Committee were proclaimed on the same day.

Despite the inevitable challenges, SAMULCO demonstrated resilience by reporting a P110.9 net surplus in fiscal year 2023. Furthermore, SAMULCO posted an Interest on Share Capital (ISC) of 8.99% and a Patronage Refund (PR) of 10.18%.

On the other hand, newly elected officers officially took the oath of office administered by the Inducting Officer, Regional Director of the Cooperative Development Authority Region XI Extension Office, Dir. Glenn S. Garcia, at Grand Men Seng Hotel on April 2, 2024.

During the reorganization, lawyer and Certified Public Accountant Dir. Annabelle I. Opamin was elected as the new Chairperson of the Board. Another woman took a position as Director Cynthia, CPA was elected as the new Vice Chairperson of the Board. Meanwhile, Ms.Judy R. Vasquez, CPA, and Ms. Erlinda M. Tuble took the post as Chairpersons of the Audit Committee and Election Committee, respectively.

“It is everybody’s work to do. Rest assured, I have an open eye to see our direction… Ear to listen to everybody and a heart to commit that I will be serving SAMULCO with all honesty” Dir. Opamin stressed in her acceptance speech as the new Chairperson of the Board.

Concluding the event, Chief Executive Officer Ruel S. Ricabo, RCE, extended his heartfelt congratulations to the newly elected officers and reminded everyone of the shared mission to help members and communities.“Let us start anew by uniting together for a common goal for our members of improving lives, giving hope, and enjoying a better quality of life”

This year's ARGAM marks a historic milestone as the first to be conducted in a sequential and blended format. Moreover, the reorganization resulted in all newly elected officers being women, signaling a significant step towards gender equality and leadership diversity. With a woman at the helm, SAMULCO is poised to continue its mission of enhancing the quality of life for its members and communities, embodying a commitment to progress and empowerment.