Forty-two must certainly be a lucky number for the existing employees’ cooperative of the provincial government of Camarines Sur. It was exactly this number of employees that Ms. Letty Aliorde convinced in March 2000- to shell out P1,000.00 each in order to pool P42,000 as seed fund and starting capitalization. Such amount of funds is deemed necessary for a fledgling organization rising from the wake of a former capitol-based cooperative (Capitol Employees Multi-Purpose Cooperative) that saw its slow demise mainly due to complexities within its organization.
Learning valuable lessons from the experience of the former cooperative, the newly set up cooperative immediately sought recognition from the Cooperative Development Authority (CDA) and upon completing the initial requirements, it was then subsequently awarded a certificate of registration on May 26, 2000.
Through continuous support of members by increasing share capital and transferring savings deposits from the bank to the Cooperative, credit service package was introduced like emergency loan to its members last September 2000. With the success of this initial effort, a petty cash loan was also added to its credit service package.
With the positive development, other forms of loans and services were eventually introduced and offered even to non-members such as bonus and trading loans, time and saving deposits. It was also during this time that the coop intensified its recruitment and conducted several trainings and workshops for all its new members. The purpose of which is to hone their organizational and cooperative skills, deepen their knowledge and understanding of the cooperative system, explore the possibilities for personal growth and strengthen their sense of leadership and responsibility to the organization.
From then on Capitol Multi-Purpose Cooperative gradually but steadily rose to distinction in Camarines Sur.Last November 15, 2003 during the Cooperative Month Celebration at NagaCity, Capitol Multi-Purpose Cooperative was awarded and received the Outstanding Cooperative in Camarines Sur conferred by Cooperative Development Authority. This we credit to the selfless dedication to duty and sterling integrity of the officers and employees and the unfaltering loyalty of the members.
For thirteen years of existence Capitol Multi-Purpose Cooperative has extended its services to the community through micro financing since May 2010 in 9 municipalities/cities; to wit, Libmanan, Pamplona, Pasacao, San Fernando, Milaor, Gainza, Minalabac, Pili, and Naga City. With that, the General Assembly has decided to change its name to CamSur Multi-Purpose Cooperative and it was duly approved by the Cooperative Development Authority last February 2012.