Loida is 51 years old and lives in Ozamiz City, Misamis Occidental, Philippines. She is married with three children. In order to help the family, she sells firewood. Aside from selling firewood, she operates a sari-sari store (general store). She started with capitalization of 3,000 Philippine pesos (PHP) and was able to expand with the help of Paglaum Multi-Purpose Cooperative. Aside from financial assistance, she was also able to generate savings and get insurance.
Now Loida is applying for a 45,000 PHP loan to buy an additional motorcycle for a transport service. This is a new business venture for Loida. Someday she wants to own a mini-mart and will be fully satisfied if she sees her children finish their studies so that they can help her in the future.
Being a MIGS member (Member in Good Standing) of the cooperative, she has been able to manage her income. She is able to provide for the daily needs of her family. Loida is very thankful because, if it were not for Paglaum, she might not have any savings at all nor be guided properly in her finances.
About Paglaum Multi-Purpose Cooperative
Paglaum Multi-Purpose Cooperative (PMPC) was founded in 1992 by the beneficiaries, parents and staff of the Paglaum Community Development Foundation to address economic and livelihood activities for sustainability. The organization operates in the northwestern provinces of Mindanao and Visayas.
In the local vernacular, “paglaum” means “hope.” The initial foundation is dedicated to child development through a holistic approach. The goal is to build self-reliance and expand opportunity so the poorest of the poor can help themselves.