UPEHCO-New

A New Identity for UPEHCO-Iloilo

Relative to the on-going thrust of UPEHCO to divide the cooperative into distinct and autonomous housing coop chapters representing the various subdivisions that have been built, the UPEHCO-Iloilo will be the first chapter which will acquire its own identity. In two meetings of members held on May 3-4, Melisa R. Serrano, UPEHCO Secretary-General, discussed the need for and advantages of transforming UPEHCO-Iloilo into a separate and autonomous cooperative with officers drawn from beneficiaries in Iloilo. By acquiring its own identity and legal personality, it is expected that UPEHCO-Iloilo will be more member-oriented. Members will also be assured of direct participation in running the affairs of their own cooperative. With a separate coop, ownership and control of the coop property will be exclusive to the Iloilo beneficiaries.

For purposes of registration, a seven members who would compose the Interim Board of Directors for UPEHCO-Iloilo Housing Cooperative (UPEHCO-Iloilo), the new name of the coop, were duly elected. The Interim Board members are the following:

(1) Edna Abunal (UP)

(2) Anna Razel Ramirez (UP)

(3) Lydia Callano (UP)

(4) Zenaida Tristeza (MARO-Tigbauan)

(5) Eugenia Sayson (LGU-Tigbauan)

(6) Gloria Tisuela (DECS-Cordova)

The seventh member of the Board who will act as Chairperson in the interim is Dr. Virginia A. Teodosio, UPEHCO-Chairperson. UPEHCO targets that by end of May, UPEHCO-Iloilo will be registered as a separate coop.

Financing the Project

The Land Bank of the Philippines and the Pag-IBIG Fund will be tapped to finance the UPEHCO-Iloilo housing project. UPEHCO is seeking financing from Land Bank for land acquisition up to house construction. Upon project completion which UPEHCO targets to take within 18 months from date of release of loan, the Pag-IBIG Fund will be tapped to take out the loan from Land Bank. This financing scheme will do away with the interim interest issue being raised by UPEHCO-Iloilo beneficiaries, a disadvantageous feature of Pag-IBIG’s GLAD *program.

UPEHCO-Iloilo is ready anytime to start land development. In fact, if the loan were released today, development could start tomorrow. This is possible because UPEHCO has already acquired its development permit and other pertinent licenses. As discussed by Monty dela Rama, UPEHCO General Manager, in the May 3-4 meetings, development will only take 10 months. UPEHCO targets to secure the loan within the next three months so that development may be started by October this year.

The present management team of UPEHCO shall continue to function as such for UPEHCO-Iloilo.

FOR THE UPEHCO MEMBERS WHO HAVE CONTINUOUSLY BEEN WITH THE COOPERATIVE DESPITE THE LONG DELAY IN THE PROJECT, THE UPEHCO IS VERY THANKFUL. IPAGPATULOY PO NATIN ANG PAGSASAMA-SAMA SA PAGBUO NG PAMAYANANG UPEHCO-ILOILO.