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Cooperative Info

COOPERATIVE HISTORY

Cebu Air Employees Multi-purpose Cooperative (CAEMC) is a cooperative owned by regular employees of Cebu Pacific Air. It was founded by 22 regular employees with an initial capitalization of Php 44,000.00. CAEMC recieved its Certificate of Registration from the Cooperative Development Authority of the Philippines last March 31, 2000 as an institutional based cooperative. Operations were professionalized and its programs and services were implemented to cater the needs of the members. To date, CAEMC members were figured at 2,209 while its net worth recorded at Php 300M.

VISION

To be a strong partner of Cebu Pacific Air in promoting cooperative ideals through financing and to ensure quality service to its members.

MISSION

To organize and institutionalize a cooperative partnership that is focused on member’s economic development and to assist in promoting sound values through cooperativism.

SEVEN COOPERATIVE PRINCIPLES
  1. Voluntary and Open Membership
  2. Democratic Member Control
  3. Member Economic Participation
  4. Autnomy and Independence
  5. Education, Training and Information
  6. Cooperation among Cooperatives
  7. Concern for Community
WHAT IS A COOPERATIVE?

A duly registered association of persons, with a common bond of interest, who  have voluntarily joined together to achieve a lawful common social or economic end, making equitable contributions to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles. – R.A. 6938