What are the basic laws that govern the organization and administration of Cooperatives in the Philippines?

Republic Act 9520 known as the New Cooperative Code of the Philippines

Republic Act 6939 creating the Cooperative Development Authority

What are the basic principles under which the Cooperatives are organized and administered?

1. Closed Members - exclusively only to all SBMA employees regardless of employment status who can use its services and are willing to accept the responsibilities of membership.

2. Democratic Control - collectively owned and controlled by its members; general assembly has supreme power over the affairs of the cooperative.

3. Limited Interest in Capital - share capital (fixed deposits) shall receive strictly limited rate of interest.

4. Division of Net Surplus - net surplus arising out of the operations of a cooperative belong to its members and shall be equitably distributed for cooperative development, common services, indivisible reserve fund, and for limited interest on capital and/or patronage refund in the manner provided in this Code in the articles of cooperation and by-laws.

5. Cooperative Education - all cooperatives shall make provision for the education of their members, officers and employees and of the general public based on the principals of cooperation.

6. Cooperation among Cooperatives - all cooperatives in order to best serve the interest of their members and communities, shall actively cooperative with other cooperatives at local, national and international levels.