The City of Parañaque Multi-Purpose Employees Cooperative (CPMEC) registered an increase in its financial assets as well as in its credit services from 2008 to 2009.

CPMEC Chairperson Engr. Armando Arsenio said that they had posted an increase in their financial assets from P6,004,504.90 in 2008 to P7,629,001.17 in 2009. Likewise, their credit services also registered an increase from P7,828,644,35 to P9,469,427.03.

On this account, the cooperative announced dividends worth P227,435.43. They also extended loans to 807 of its members.

Arsenio said the posted gains are due to the dedication of its officers and patronage by its members as well as the diligence of staff and support given by the city government.

Mayor Florencio Bernabe Jr. said that he will continue to support CPMEC and the entire cooperative movement.

“Cooperatives have done much to improve the lives of our constituents.

I commend the officers and members of CPMEC for a job well done,” Bernabe said.