Background GLEDCO History 
GOVERNMENT OF LAOAG EMPLOYEES DEVELOPMENT
COOPERATIVE (GLEDCO)
I. Corporate Brief
GLEDCO was organized on January 23, 2002 with Registration Certificate No. DAG-4458.
It was registered with the CDA pursuant to Republic Act No. 9520-01001354 on October 28, 2009 to operate a primary Multi-Purpose Non-Agricultural cooperative.
The firm holds its office at Laoag City Hall, Brgy. #10 San Jose, Laoag City.
Its primary purpose is creating funds in order to grant loans for productive and providential purposes to all regular members who are employees of the City Government of Laoag and to its associate members.
GLEDCO now caters to the needs of its members, mostly employees of the City Government of Laoag, with financial products in the form of loans of different types – salary, housing, car, buy-out, petty cash loan, etc. and services such as E-loading, Bayad Center, Community Outreach and many publicly beneficent partnerships with the City Government.
To broaden its sources of revenue, the cooperative also embarked into cafeteria/convenience store, gasoline station, water station/ice cubes, dietary services, laundry services and pharmacy businesses.
The cooperative is also registered with the Bureau of Internal Revenue. It also applied for the tax exemption in accordance with R.A. 8424 (Tax Reform Act of 1997) and its implementing rules and regulations. The certificate of exemption was issued on June 6, 2011 with Certificate No. COOP-081-11RR-01-RDO-001.
II. Ownership
The cooperative was registered with the CDA with an authorized common share capital of P2,000,000 divided into 4,000 shares with a par value of P 500 per share. Due to the increasing membership and capital requirement of the Cooperative, the General Assembly filed and approved increases in authorized common share capital.
As of December 31, 2011, the subscribed and paid up capital of GLEDCO is as follows:
Authorized
Subscribed
Paid-up
Shares
Amount
Shares
COOPERATIVE (GLEDCO)
I. Corporate Brief
GLEDCO was organized on January 23, 2002 with Registration Certificate No. DAG-4458.
It was registered with the CDA pursuant to Republic Act No. 9520-01001354 on October 28, 2009 to operate a primary Multi-Purpose Non-Agricultural cooperative.
The firm holds its office at Laoag City Hall, Brgy. #10 San Jose, Laoag City.
Its primary purpose is creating funds in order to grant loans for productive and providential purposes to all regular members who are employees of the City Government of Laoag and to its associate members.
GLEDCO now caters to the needs of its members, mostly employees of the City Government of Laoag, with financial products in the form of loans of different types – salary, housing, car, buy-out, petty cash loan, etc. and services such as E-loading, Bayad Center, Community Outreach and many publicly beneficent partnerships with the City Government.
To broaden its sources of revenue, the cooperative also embarked into cafeteria/convenience store, gasoline station, water station/ice cubes, dietary services, laundry services and pharmacy businesses.
The cooperative is also registered with the Bureau of Internal Revenue. It also applied for the tax exemption in accordance with R.A. 8424 (Tax Reform Act of 1997) and its implementing rules and regulations. The certificate of exemption was issued on June 6, 2011 with Certificate No. COOP-081-11RR-01-RDO-001.
II. Ownership
The cooperative was registered with the CDA with an authorized common share capital of P2,000,000 divided into 4,000 shares with a par value of P 500 per share. Due to the increasing membership and capital requirement of the Cooperative, the General Assembly filed and approved increases in authorized common share capital.
As of December 31, 2011, the subscribed and paid up capital of GLEDCO is as follows:
Authorized
Subscribed
Paid-up
Shares
Amount
Shares