A paid-up capital of Php3.323B had been put up by 48 newly registered cooperatives with 1,915 members in Northern Mindanao in the 1st quarter of 2010.

Such amount was actually higher by 182.40 percent compared to Php1.176B, the paid-up capital put up by18 cooperatives with 477 members in the first quarter in the same period, last year.

This year’s figures posted a 166.67 percent increase in the number of cooperatives and 85.56 percent in membership compared to the same period, last year, Regional Director Orlando R. Ravanera of the Cooperative Development Authority (CDA), region10, said.

Meanwhile, data at CDA show that the highest number of 41 cooperatives with a general membership of 1,219 were registered in the province of Misamis Oriental, during the period.

The other provinces of the region also registered the following number of cooperatives: three (3) in Bukidnon with 99 members, two (2) in Misamis Occidental with 548 members, one (1) each in Camiguin and Lanao del Norte with 29 members and 20 members, respectively.

As to the paid-up capital, Misamis Oriental posted the highest with Php2.737B or an increase of 405 percent over that of last year’s Php542,000.

This was followed by Misamis Occidental, Php392,290, Bukidnon, Php114.000, Lanao del Norte, Php62,500 and Camiguin, Php17,400. (PIA 10)

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