Dear Members,

The Board of Directos and Officers of our Cooperative would like to greet everyone a very Merry Christmas and a Prosperous New Year!

Although the current health crisis is not yet over, for many organizations, 2022 has been a year of recovery and hope. And despite the difficulties, we've made quite a stride in 2022. For one, we've reached the P100M-mark in terms of Assets! Quite a significant milestone for a cooperative that's less than 10 years old. We've also made a number of investments this year.

Some of our other accomplishments this year include:

• Loans Granted - we've released 2,400+ loans amounting to more than P50M! This has helped a lot of members in their financial need.
• Damayan Claims - we've provided burial assistance to 22 members through our Damayan Benefit where we provide financial assistance to members who lost a dependent up to the 1st degree of consanguinity and affinity plus siblings.
• Membership - our membership increased 20+% from 1,204 in 2021 to 1,469 in 2022. As I always say, the growth of a cooperative is directly proportional to the number of members. Thus, help us grow faster by inviting your colleagues to join and enjoy the benefits of HPPCOOP!
• Zero Interest Hospitalization Loan - to help members cope with the pandemic and other difficulties, we've launched the 0% Hospitalization Loan. Application has also been made online for convenience.
• Ifugao Relief Effort - we've matched members' donations to the Ifugao Relief Effort during this year's flash flood and together, we were able to turnover P67,600.00 to the organizers.
• Second HPP Vacation Home - as our membership increases, so does the demand for the HPP Vacation Home. Thus, we've added a second unit at Serin East in Tagaytay for our members' exclusive use. 
• Serin Parking Slots - for members' safety and convenience when using our Serin Vacation Homes, we've invested in Serin basement parking slots that members can use free of charge.
• New HMO Plans - we've introduced new HMO plans to better serve members' needs. the new plans include semi-private and private rooms with higher coverage and optional income benefit.
• Baguio Property - we bought a vacation property in Baguio that members and their family can enjoy. Target go-live for the HPP Baguio House is Q1 2023. 
• Makati Property - as part of our investment strategy, we acquired a lot in Makati where we plan to build our first building consisting of mixed office, commercial and residential units. We target to start construction within first half of 2023. 
• System Upgrade - we've upgraded our backoffice system to be able to cope with our growth. The new system is cloud-based which should provide better flexibility and resiliency.
• Maternity Benefit - to help women members recover and adjust emotionally and financially after giving birth, we've introduced the HPP Maternity Benefit Policy. This benefit gives new mothers a 3-month relief from loan payments without additional interest and/or penalties.
• HPP Ticketing System - to cope with the demands of an increasing membership base while maintaining limited resources, we've launched the HPP Ticketing System so we can better track member issues, queries, loan applications, and other concerns.
• New Credit Policy - we released a new Credit Policy to address members' call for higher credit limit while keeping the safeguards we have in place. Among the changes include the P200k limit for Multipurpose Loan, Car Equity Loan, and Housing Equity Loan, as well as a new Business Loan of up to P500k.
• Organizational Changes - we're slowly trying to expand our organization to cater to our growing operations. We've hired Jodan Mendoza specifically to help with membership matters and improve our response times.

All of this could not have been possible without your support. So let's continue to be engaged, continue to patronize our cooperative, and together, let's continue to see our cooperative grow!

Once again, wishing you and your loved ones a very Merry Christmas and as we look forward to a better 2023!

Yours in the spirit of cooperation,

Val Hilario

Dahil sa Coop, kaya mo na!