LTMPC

Historical Profile

Year Organized              - 1990

Registered in CDA          - April 23, 1991
Initial Capital                   - P7,562.50
Founding Members         - 26 incorporators
Place of Origin                - Brgy. Lorenzo Tan, Tangub City

Various Economic Activities:
Consumer Store, Savings & Credit Pawnshop, Milling
Trucking & Other Livelihood Projects.

The Birth of Lorenzo Tan Multipurpose Cooperative
   In 1990, Cooperative Development Authority (CDA) in cooperation with Tangub City government, conducted a campaign in the barangays to create a cooperative, of which Barangay Lorenzo Tan became its pilot center.
An informal association of about 15 to 18 members was established with a starting capital of 7,562.50 The group was formally registered with the Cooperative Development Authority (CDA) in Cagayan de Oro City on April 23, 1991 with 26 incorporators.
   The membership rapidly grew, members reached to about 350 in the succeeding months during its founding year. LTMPC is engaged in various economic activities such as: Lending, Pawnshop, Trucking, Milling and other Livelihood projects. Its growth was superb at that time from 1990 to 1994.

The Ups and Downs
    In 1995 to 1997, LTMPC experienced financial setbacks. It began to lose the trust of its members, delinquency soared high and shut down the Milling and Trucking services. The cooperative started to face huge problems in collection and running after the past due of the creditors. The said crisis forced the management to dispose its rice mill.

The Recovery time until the awarding of FOCCUS
    When the energetic three- time City Councilor, Hon. Sabiniano S. Canama, known as “Ben”, took the steer of the Coop with the remaining three staff, LTMPC slowly felt a sense of hope and relief from what it had previously seen. Canama sat as the Chairman, and at the same time, Manager from 1998-1999, “Ben” developed and executed new strategies for the revival of the Cooperative. Then a miracle happened, number of members and depositors increased and new employees were hired.