Mary Vic, 23, is a married resident of P-Vanda, Brgy.Maloro, Tangub City, Misamis Occidental, Philippines. Her husband is an Overseas Filipino Worker (OFW). They have 1 child. Starting with a capitalization of 15,000 PHP, she opened a sari-sari (general store) and was able to expand it with the help of Paglaum Cooperative. Aside from financial assistance, she was able to generate savings and enjoys the benefit given by the co-op. She became a member in February 2013 and this is her 2nd loan.
Now she is applying for a loan of 50,000 PHP to buy additional stocks for her sari-sari store, particularly basic commodities. In the future, she wants to own a mini-mart someday, and she will be fully satisfied if she sees her children finish their studies.
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.