HPP Employees Multipurpose Cooperative
HPPCOOP is a cooperative of IT-BPS employees in the Philippines. It was first founded on August 27, 2014 as HPP Employees Credit Cooperative by 20 Hewlett-Packard employees with an initial capitalization of Php64,000.00.
Vision
The innovative cooperative of choice in the IT-BPS industry.
Mission
A dynamic cooperative of IT-BPS employees that provides relevant financial and other products and services to improve the quality of life of it's members.
What is a Cooperative?
A cooperative is a business. But unlike ordinary businesses, cooperatives differ in their business purpose, ownership, and distribution of benefits. The three unique characteristics of cooperatives are:
- Member-owned – this means the people who are members of the cooperative own and finance the business. Cooperatives are financed by members by purchasing stocks, paying membership fees, and patronizing the cooperatives’ products.
- Member-controlled – members select their own board of directors to set the policies and run the cooperative’s business.
- Member-benefit – a cooperative’s primary purpose is to distribute benefits back to the members themselves. One of the principles of a cooperative is to distribute the benefits based on a member’s patronage of cooperative products versus merely the amount of capital a member has invested.
Membership
Membership is voluntary and open to all employees of IT/BPO companies who are Member Companies of HPPCOOP (e.g. DXC Technology, Hewlett Packard Enterprise, HP Inc., Computer Sciences Corporation, Micro Focus, ITSM Corporation, Soga Asia Technologies, Planate, etc.). To become an HPPCOOP member, one has to meet the following basic requirements:
- Commit to complete the Pre-Membership Education Seminar (PMES).
- Initial share capital of a minimum of ten (10) shares of capital stock at P100.00 per share.
- Commit to a monthly share capital build-up of at least five (5) shares/month (P500.00/month).*
- Commit to a P50.00/month raffle ticket to be used for the General Assembly raffle/event.
- Payment of a one-time membership fee of P200.00.
*Becomes optional once the P20,000.00 minimum share capital subscription is reached.
Rights and Duties of Members
- Commit to contribute to sustained equity build-up through monthly contribution.
- Patronize the Cooperative’s products and services.
- Participate in parliamentary affairs.
- Attend membership meetings.
- Obey rules, regulations, and policies set by the Board, the HPPCOOP Bylaws, the General Assembly, and the Cooperative Development Authority.
- Promote the aims and purposes of the Cooperative and the success of its business.
- Inspect and examine financial records, minutes of meetings, and other records of the Cooperative.
Benefits
HPPCOOP is a multipurpose cooperative. Its equity contribution provides coop members with a micro-savings facility that is secure, high-earning, and very liquid. HPPCOOP also provides its members with a wide selection of loan products, among other products and services.
HPPCOOP members are entitled to earn dividends on their paid-up share capital and to receive patronage refunds on their interest payments.
Cooperative Values
- H armony
- P assion
- P erseverance
- C redibility
- A ccountability
- R esiliency
- E quality
- S elflesness
Cooperative Principles
- Voluntary and Open Membership
- Democratic Member Control
- Member Economic Participation
- Autonomy and Independence
- Education, Training, and Information
- Cooperation Among Cooperatives
- Concern for the Community
