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What is involved here is a cooperative. Are you all members? Okay. What? Has this cooperative been around for a long time? 50 years is over, sir. Yes, sir. This has been going on for a long time. And we know that when something is done cooperatively, there is a contribution. Yes, sir. Okay? What is that? Monthly. Usually the contribution is monthly. Ah, then in the event later on, maybe you'll receive something too. Is that your arrangement there? Yes, sir. There is interest. Okay. It depends on what you want, whether quarterly or monthly.
Yes. Is there documentation for all of that? Yes, sir. You are probably all documented. What is this transaction you have with this cooperative? So why has it reached the point where it seems like you're having a hard time talking to these representatives of this cooperative? Is there a problem with the cooperative? What I know, sir, is that they say they have many assets. That's what the managers say to the people who go there. But when we go there and take out money, we don't get anything. We are always given a schedule but when we go to collect the money, the schedule given is not given to us because they say it is a collection basis and no transaction. In short, their commitment that you will receive something is not being followed.
And all of you here are probably not aware of the condition, at least the financial position, of your cooperative. Do you just want to be clear? What is really going on here? Will we still receive anything? But is your contribution to that still ongoing? Not anymore. No more, sir. When we couldn't withdraw any more money, I stopped making deposits because I couldn't withdraw anymore, sir. Okay. So, all of you, how much have you donated so far? There are many, sir. There is 1 million, there is Olon million. Millions of millions, sir. Million sir, before 3 there was still 6 million, that's only one person who has it. Okay, I'd be really worried
if my 6 million, I do n't think I'll ever get it back. Oh really. Yes, sir, we worked hard for it. Sir, yes, probably not. Okay, you're not the only members. How many members are there in that cooperative? Sir, there are many others. Sir, because I know that sometimes it reaches thousands. Okay, ma'amennyaptista. Good afternoon, ma'am lenny. Because these are Ma'am Julie and her colleagues. How is our cooperative doing? Some of them we already have consistent transactions with. The management part is that I can't or the cooperative can't give the amount they're demanding because there are so many of them. But the others I saw were really unfamiliar with the names. Maybe they're in a different department or someone else is talking to someone else.
Ma'am Lenny, when you said that the cooperative couldn't do it because there were so many of them, are you saying that because the cooperative had no assets, it was not really beyond its capacity, or maybe the cooperative was just not liquid, so exactly. Our cooperative is not really liquid. What happened to your cooperative? Has anyone ever demanded or claimed their contributions at the same time? Is that so? Because what I understood earlier from Miss Lenny Baptista is that it's not liquid. Your cooperative has assets. Either they invested the amount or they have unacquired real estate. I don't know. I don't know, really. But not liquid. This means the cooperative doesn't have cash. And of course, what you want is cash, isn't it?
Their cash isn't enough. So I want to know, ma'am Lenny, that's all. Because I heard they're going back and forth there. Okay. They're already annoyed. It seems like every time nothing happens. Oh, ma'am, Lenny. Is there any guarantee that they will receive their claims? As per what is being said sir, I see that in the cooperative, there are resources for the cooperative that are different, they cannot give the time and amount that they want to give, so in short, the cooperative can do it, but right Now, what is this? What's going on? Why can't the cooperative still provide what it can?
Yes. You are right, attorney, that when it comes to our financial statement basis, as per the financial statement, that is why it should be returned. That's all we can't do for now because it's not like we can post something like that, uh, please note that's what management did just to address the concerns of the cooperative members. Again, there are other members who went there. Maybe yes, ma'am, Lenny. We understand that if the cooperative has a challenge, it may not be possible to immediately give the money to Ms. Julie Heisel and her colleagues. But why can't
we give a timeline? No, what about in 2 weeks, 3 weeks or maximum one month? I understand if it can't be delivered within this week. It takes some process. But I understand that you've been coming from there, you've been asking for this for a long time, you've been demanding it. How many months has it been or how many years, sir? Yes, sir. Well, if it's been a year, then it's not fair. Yes, sir, we are no longer saving so that we can have something in case of an emergency. Is the cooperative really capable, ma'am Lenny? Why would it take years? It's been a worrying year. At the very least, there should be a guarantee that the amount
you will receive is actually there. But the delay speaks for itself. Okay? A year without any amount. And when else? Is there a timeline given? Yes, sir. When? Never mind, our contract has ended, sir. But we don't want to renew because they can't give us even a peso, sir. Okay. There is no amount that they want to give, even though I asked for 70%. Where does the cooperative take your money? Where did they invest? Where were they used? Has your cooperative incurred any major expenses? We don't know, sir, because we're not inside the cooperative, so I don't understand what a cooperative is, at the very least, there's an annual meeting. Yes, sir. Report.
They are reporting, sir. They still have billions of money. But so in the report, did you attend those meetings, those annual reports? What does the report say? Does the cooperative have money? They still have money and assets, sir. Worth of 1 billion still like that sir. Okay, if it's 1 billion, why are they having such a hard time returning that amount? The only reason I could think of for that is that either they are not liquid or if the money is really gone. But let's give them the benefit of the doubt that they just aren't liquid. That means maybe that 1 billion is in a time deposit. They can't terminate it immediately. It's not like it takes time or the delay. But
one year. Attorney, thank you so much for the time you have given. Exactly, Attorney. The real problem with cooperatives is liquidity. again uh again to our members who are there, some of them don't really know what's going on just because they don't attend to the obligations of a member general, it doesn't really matter to the assets and ma'am Lenny, we just want to get our money on time because we banked it in full, we want it when we get it, we will get it on time too. Yes, ma'am Hazelen. Yes, ma'am. You know my concern, ma'am. It's not just you who are saying how much you're going to give, ma'am. We should get all our money because we worked hard for it, ma'am. You know the hardship you made me suffer,
ma'am, I spent the whole day at the bank. Waiting. My day was almost wasted because of what you did to me. Ma'am, I hope you know the pain you caused me because I've already given you many checks, none of which have been fulfilled. I am in so much pain. I hope there are checks. Yes, sir. The check bounced. Yes, sir. I waited for half a day at the bank, sir, waiting for the funds for their check. Are you all here? Are there any bounced checks? Just me, sir. That's why my mind is so painful, sir. I don't have the ability to express what I feel, sir, because they are all following you, what can I give? I don't have the ability to tell you everything I want to take, sir, but they will only give you what they want, sir. If nothing was
given to Ma'am Chriselda, as far as I know, most transactions were with Ma'amda. Ma'am, because ma'am, when I said that, I begged you to tell me where the check was given, but you said you didn't have it, ma'am, you just give me whatever you want, that's all, ma'am, I'm no longer capable, it's like I've been forgotten, ma'am, you're the one who's following me with my money, how much do you give me, that's all, ma'am, what can I follow, I'm no longer capable of my money, ma'am, you're the one who's deciding, even though I need it, I need it, I need my money, ma'am, but you just give it little by little. Ma'am Lenny, on my part, not all of them there have no transactions and so I will just answer in general. Oh, that's it. Ah, I request
that you come here to my office so I can separate them from the people you are talking to. Yes, we don't want that. We don't want it anymore, sir. Oh, ma'am, ma'am, Lenny. Ma'am Lenny, there is no problem in your office. We will be going with Senator Raffy Tulfo's reporter to Santo Domingo, Ilocos Sur. Okay. And of course, we will be together too. Attorney Frederick Robles, the regional Director of the Cooperative Development Authority, CDA Region 1, is just at the conference. And we will also request someone from their office to join us or if it's better, ma'am Lenny, right there
at Attorney Robles' office. Okay, and maybe it's better that way than me saying Yes one by one. and please schedule an attorney to be able to do it but ma'am Lenny, what is idol Raffy listening to now, we are asking you not to ignore these members of yours in your cooperative, no they contributed, they gave no uh trust millions of money here in your cooperative, that money was worked hard for and now is the time to return it to them, please okay, let 's give them a timeline if you already have it there but you can't accept anything from the cooperative, okay what if they don't fill it or they don't pay, ma'am, okay, this is how it is, the first thing that must be done is there must be an investigation into where
their money went, no I understand this is a registered cooperative Okay. You know these types of institutions are regulated. Okay? Then the persons who are in charge are not the ones who decide where that money will be taken, they do so under fiduciary capacity. That means, they are trusted with your money. Okay? And if there is betrayal of the trust, okay? Then those involved there will be held responsible for that. Yes. In short, if those funds were used in other ways that were not appropriate or if they were negligent in handling that money, then definitely there will be accountability. In fact, as Ma'am Cristel just said earlier, there was a bouncing check, we know we have a bouncing check. Okay. That's criminal.
I'm still begging them, sir. I'm almost the only one who has money with them. I'm the one who's begging, sir, because I really need money for my son. It's not possible, ma'am, we understand and we are here with you, it's okay to claim your money. As long as you get your documents ready, we have already coordinated with the Cooperative Development Authority. Then we will make sure that we take action on the matter you brought to our attention. Okay. Okay, ladies. We will join you in Santo Domingo, Ilocos Sur. That's our schedule, we'll answer what you read when you get home.
Okay, moms, thank you and good afternoon. For the meantime, ma'am, this is our refund, ma'am, for your fare, this is the Php25,000 for your return trip. 22 23 24 25 Idol Raffy, thank you very much. We appreciate your help in Ilocos. Thank you very much for giving me 25,000. Thank you. Thank you, sir. Thank you very much. Thank you, idol Ry Tulpo.
