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Hedcor empowers Lamut Coop thru micro-finance assistance
October 30, 2015
Hedcor and Aboitiz Foundation awarded a total loan amount of P990,000 to the cooperative in Beckel barangay hall last June 23. This is to support the cooperative in its cut-flower production projects.
“Since 2006, Hedcor has been very supportive of our cooperative. With the previous financial assistance and trainings, we were able to support our cut-flower businesses and make them thrive, thank you for assisting us Hedcor!”, shared Lamut coop member Bernard Waknisen.
Lamut Norte Consumer Multipurpose Cooperative was founded in 1991 with an initial membership of 30 persons. Currently, the cooperative has attracted almost 200 members, mainly cut-flower and vegetable producers. The group is one of the providers of Malaysian mums, antoriums, and other varieties of Benguet cut-flowers.
Hedcor expressed its appreciation for the partnership with Lamut Coop and looks forward to continually participate in the progress of the cooperative.
Aside from Lamut Coop.
, several micro-finance cooperatives in Benguet have been the recipients of Hedcor’s loan program. These are Sal-angan-Banget Multi-purpose Cooperative in Itogon, Barangay Alapang Multi-purpose Cooperative (BALMUCO) in La Trinidad and Thanksgiving Cooperative in Tuba. The latter received a financial loan worth P600,000 from Hedcor for their members’ swine-raising project last year.
To sustain the progress of these microfinance groups, Hedcor also conducts basic cooperative courses like accounting for non-accountants, financial accounting lectures and leadership trainings.
By granting loans to these micro-finance organizations, Hedcor aims to back the growth of livelihood programs in its host communities. Enterprise development is one of the core areas of corporate social responsibility for the company.