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Your Easy Guide to OMSMPC
Types of Members
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Participating in a cooperative is both interesting and fun. As a member, you meet individuals from all walks of life without regard for gender, religion, color, socioeconomic status, political beliefs, or connections. It is a type of social enterprise that brings people together to pool their resources with the goal of creating a common bond of interest.
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There are several types of membership in a cooperative, which can vary depending on the specific organization and its bylaws. In OMSMPC, we follow the mandate of the Cooperative Development Authority on types of membership. According to the Cooperative Development Authority, a cooperative has three types of members: (1) Associate members, (2) Regular members, and (3) Regular Members Entitled to Vote.
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An associate member has no right to vote or be voted upon and is entitled only to the rights and privileges provided by the cooperative's bylaws.
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A regular member is one who has complied with all the requirements and is entitled to all the rights and privileges of membership as stated in the Cooperative Code and the cooperative laws.
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A Regular Member Entitled to Vote or RMEV is one who meets all additional requirements and is entitled to additional rights and privileges.
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How to be a Regular Member Entitled to Vote?
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Any regular member who meets the additional conditions set by the Election Committee and ratified by the OMSMPC General Assembly shall be a Regular Member Entitled to Vote or RMEV.
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Here are the qualifications:
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- Completed the OMSMPC membership requirements on or before December 31
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Fully paid share capital subscription
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Community-based programs and events
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Exclusive skills and business-related training
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- Participated in at least one (1) program prescribed by the Board of Directors;
- For Individual Sellers, the required GMV is at least PHP 200,000
- For Corporate Sellers, the required GMV is at least PHP 3,000,000
- Reached a minimum-required payout GMV
- No records of irregularities or suspicions of policy violations on Lazada
- Has attended previous General Assembly
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Increasing your contribution as an RMEV also allows you to enjoy more benefits and services! To know the full details, please check the Capital Build-Up Campaign now!
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