Cooperating co-ops

As my regular readers surely know, I have a deep passion for the great outdoors. What truly amazes me during my sojourns is that the great expanse of nature is held together by the smallest of elements. A verdant rice paddy is made up of the slimmest of rice stalks. And the wide beaches of Boracay? They wouldn’t exist without the tiny, almost imperceptible grains of sand. 

Having said that, I’d like to point out the parallels between nature and our own economic structure. In today’s hectic times, financial solidarity is both a virtue and an asset, and an organization that understands this is sure to be the aggregate of positive change. One can draw analogies between nature and the modern-day cooperative: both systems are composed of humble contributions that build the greater good.   

With that, let me now spread the word that The National Cooperative Movement (NCM) will hold the First Cooperative Conference on Good Governance at The Manila Hotel, Sept. 18 to 20. The gathering is co-sponsored by the NCM and the Hanns Seidel Foundation.

The conference will feature workshops and lectures by business practitioners covering topics such as Financial Principles and Opportunities in the Context of Good Governance, Understanding Risk Management, The State of the Co-Op Sector, and Financial Literacy, as well as panel discussions and open fora. By bringing together great minds from business and finance, the conference seeks to imbibe increased fiscal awareness and stability in its attendees. I believe it is such a noble cause, since I’m of the mindset that our progress is greatly defined by economic upswings and the aforementioned financial solidarity.

 Aside from the speakers from the cooperative, attendees can look forward to talks from a group of experts that include former Finance Secretary Jesus Estanislao of the Institute of Corporate Directors; Rex Drilon, chief operating officer of The Ortigas and Company Limited Partnership; Joel Valdes, president of the Institute of Solidarity Asia and former Senator Butz Aquino who is chairman emeritus of NCM. I have admired the work and economic contributions of these individuals, and I won’t be surprised if those in attendance act a little star-struck during the conference.

The conference will be a great benefit to co-ops. For years now, the NCM has been at the forefront developing the scope and capabilities of our cooperatives. I’m sure many of you have felt that tinge of optimism every time we plunk our earnings into a co-op, much like how a farmer feels after he plants his crop in those rice paddies I mentioned. The security of having an organization protecting your yield is a strong motivation to set aside a chunk of our hard-earned money.

Sometimes, the temptation to splurge is strong. I know the lure is always there for me to act on a whim and take a trip to the Cordilleras or go white-water rafting in Cagayan De Oro. If you’re a member of a co-op, then you know you must resist.

The First Cooperative Conference on Good Governance has the support of the Hanns Seidel Foundation. One of the significant things about the event is the partnership between two institutions dedicated to spreading financial empowerment among co-op members.

“In the service of democracy, peace and development” is the Foundation’s motto, describing its core work and mission. The motto applies not only to activities within its native Germany, but also to the various overseas causes it buttresses. I imagine their commitment to development will lend extra credence to the conference. After all, that is what the gathering seeks to achieve — develop both social and financial relationships through the cooperative structure.

Since its establishment on April 11, 1967, the Hanns Seidel Foundation has been practicing educational missions with the aim of supporting “the democratic and civic education of the German people with a Christian basis” — as stated by the foundation’s mandate. The work of the Hanns Seidel Foundation is in complete synergy with the NCM, as it espouses personality development, autonomy as well as social responsibility and solidarity.

Now, with all this attention given to co-ops and solidarity, surely there must be some form of protection for investments. There used to be no insurance in the Philippines to protect deposits once they were placed in cooperatives. Naturally, this was a great concern to all the workers placing their trust and future in the hands of these groups.

But all organizations face risks, cooperatives included. Now who will protect depositors/investors when something goes wrong? Fortunately, NCM addresses this concern with one of its major projects, the Co-Op Deposit Insurance Federation of Cooperatives (CODIS), a group that provides insurance to small depositors in the event of close-downs and other problems within the cooperative.  

The need for deposit insurance has been articulated by cooperatives time and again. In mid-2007, the Century Cooperatives created the deposit guarantee system, which is a crucial element in ensuring that the cooperative financial system stays healthy. The long-term benefit of this system is immediately apparent, as it allows the speedy resolution of potential problems. The system is adequately governed, and the responsibilities and expectations of each member are properly understood.

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What’s the No. 1 hit song over the last 50 years? Love Me Tender? Rock Around the Clock? Nope, none of the above.

According to the Billboard Hot 100 chart, of all the No. 1 songs during the last 50 years, is Chubby Checker’s “The Twist.” What do you know!

Well, from the Internet, I learned that Elvis and the Beatles did not even make the top five.

Checker’s ranking may come as a surprise to some, me included, but not to the classic rocker.

”I’m glad they’ve finally recognized it,” said Checker of his early 1960s hit.

He compared “The Twist” — named by the Rock and Roll Hall of Fame and Museum as one of the 500 songs that shaped rock ‘n’ roll — to the creation of the telephone as a groundbreaking moment because he said it was the first time people were dancing apart to the beat.”

“Any place on the planet, when someone has a song that has a beat, they’re on the floor dancing apart to the beat, and before Chubby Checker, it wasn’t here, and I think that has a lot to do with me being on the charts,” Checker said.

So who are the four other song in the top five? Santana’s Smooth, featuring Rob Thomas, the No. 2 most popular, followed by Bobby Darin’s Mack the Knife, Leann Rimes’ How Do I Live and The Macarena by Los Del Rio.

The Beatles did make the top 10, coming in at No., 8 with “Hey Jude.” But Olivia -Newton-John’s Physical and Debby Boone’s You Light Up My Life are ahead of that hit. Rounding out the top 10: Mariah Carey’s We Belong Together at No. 9 and Toni Braxton’s Un-break My Heart at No. 10.

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