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Friday, November 16, 2018

Home Stories Ekolife OFW Marketing Cooperative: Now open for members and investors!

Ekolife OFW Marketing Cooperative: Now open for members and investors!

Rationale

About 80% OFW businesses fail due to insufficient capital, management issues, lack of product development and lack of market. They have funds for production but usually they do not have any more capital or skills for promoting and marketing their products.

The hard earned money of OFWs, products of their years of hard work -blood, sweat and tears goes down the drain whenever their businesses fail. Likewise, communities of OFWs remain poor and with limited economic opportunities due to high cost of capital. The poor rural communities are at the mercy of traders and lenders who be-come richer while farmers remain supplier of cheap raw materials and become poorer.

Opportunities for Social Enterprises

Working closely with rural communities, Atikha, a non-government organization working with OFWs and families has identified opportunities for social enterprises such as 1) Tourism Support Services; 2) Marketing of products and services required by the OFWs, their families and communities; and 3) Agri-business opportunities in the origin provinces. We have beautiful places but there are limited facilities for accommodation, activities, restaurants and also oftentimes no “pasalubong” centers. Partner provinces are requesting for investment in processing and marketing of these products and in tourism support services. Maximizing these opportunities, Pinoy WISE leaders signified their interest to be involved in processing, marketing and tourism support services. Pinoy WISE is an organization of OFWS and their families involved in saving, investing and entrepreneurship. This resulted in the establishment of the Ekolife OFW Marketing Cooperative.

Ekolife OFW Marketing Cooperative
Providing Hope: Changing Lives

Ekolife OFW Marketing Cooperative is the first marketing cooperative owned and operated by the OFWs and families for the OFWs and families. It was an initiative lead by Pinoy WISE leaders of the differ-ent provinces and destination countries in partnership with Atikha. The cooperative is engaged in establishing Ekolife Coffee shop and Pasalubong Centers in provinces with high tourist arrivals such as Surigao del Sur, Ifugao and Iloilo. In addition, this will also be involved in establishing Ekolife Coop Mart in 4th-5th class municipalities where there are limited shops that cater to the needs of the OFWs and families.

How to be a Member?

  1. Submit duly accomplished Application Form with 2×2 ID Picture
  2. Pay membership fee of Php 2,000
  3. Subscribe and pay a minimum of ten (10) shares at P500.00 per share (P5,000.00)
  4. Deposit the membership fee and capital share to:
    Bank of the Philippine Island (BPI)
    Branch : BPI San Pablo Paulino
    Acct Name: Ekolife OFW Marketing Coop
    Account No.: 0801014216
  5. Scan and send the copy of bank deposit slip to: ekolifecoop@gmail.com with subject title: Membership Form + surname]
  6. Official receipt shall be issued upon confirmation with the bank.

Benefits of the Members

  1. Investment will earn passive income
  2. Family members in the Philippines are given priority to take on jobs created by the social enterprises
  3. Coop Members who are engaged in production can be supplier of Ekolife. They can avail of technical assistance for product development to be able to improve the quality of their products.
  4. Members can also apply as direct seller of the products of House of Ekolife

How to Invest

  1. Once membership is confirmed, invest in any of the five social enterprises. Deposit investment thru:
    Bank of the Philippine Island (BPI)
    Branch : BPI San Pablo Paulino
    Acct Name : Ekolife OFW Marketing Coop Account No : 0801014216
    Minimum investment : Php 5,000
    Maximum investment : Php 1Million
  2. Scan and send the copy of bank deposit slip to: ekolifecoop@gmail.com with subject title: Investment Deposit Slip + surname. Indicate in your email in which investment would you like your fund will go to
  3. Issuance of Investment Certificate to investors once confirmed.