KNOW ALL MEN BY THESE PRESENTS:

We, the undersigned Filipino citizens, all of legal age and residents of the Philippines, have voluntarily agreed to organize a Primary Credit cooperative, under the laws of the Republic of the Philippines.

AND WE HEREBY CERTIFY:

Article I: Name of the Cooperative

That the name of this Cooperative shall be ASA Philippines Employees Credit Cooperative​

Article II: Type and Purpose(s)

That the type of this cooperative is Credit Cooperative and the purpose(s) for which this Cooperative is organized is/ are to engage in:

1. To inculcate a culture of thrift and assist members to attain financial stability through periodic savings and disciple among members;

2. To create funds and grant loans to members for productive and providential purposes;

3. To uplift the quality of life of its members through mutual and cooperative assistance;

4. To ensure financial and organizational stability through good governance and prudent management of financial, human, and other resources guided by ASA Philippines Foundation core values.

5. To continually expand and improve services to members through the use of modern technology and availability of external resources;

6. To collect, invest and reinvest all monies and income coming to it, while they are not loaned out to members, and hold the same for the benefit of the cooperative;

7. To work with the cooperative movement, non-government and government organization/ entities in the promotion and development of cooperative and carrying out government policies; 8. To undertake other activities for the effective and efficient implementation of the provisions of the Cooperative code.

Article III: Goals

That the goals of this cooperative is to help improve the quality of life of its members and in furtherance thereto shall aim:

1. To attain increased income, savings, investments, productivity, and purchasing power, and promote among themselves equitable distribution of net surplus through maximum utilization of economies of scale, cost- sharing and risk- sharing;

2. To provide optimum social and economic benefits to its members;

3. To teach members efficient ways of doing things in a cooperative manner;

4. To propagate cooperative practices and new ideas in business and management;

5. To allow the lower income and less privileged groups to increase their ownership in the wealth of the nation;

6. To actively support the government, other cooperatives and people-oriented organizations, both local and foreign, in promoting cooperatives as a practical means towards sustainable socio- economic development under a truly just and democratic society;

7. To institutionalize a dynamic savings mobilization and capital build- up schemes to sustain its developmental activities and long- term investments, thereby ensuring optimum economic benefits to the members, their families and the general public;

8. To implement policy guidelines that will ensure transparency, equitable access to its resources and services, and promote the interest of the members; and

9. To adopt such other plans as may help foster the welfare of the members, their families and the community.

Article IV: Powers and Capacities

That the powers, rights and capacities of this cooperative are those prescribed under Article 9 of Republic Act 9520.

1. To the exclusive use of its registered name;

2. To sue and be sued;

3. Of succession;

4. To amend its articles of cooperation in accordance with the provisions of RA 9520;

5. To adopt by- laws not contrary to law, morals or public policy, and to amend and repeal the same in accordance with RA 9520;

6. To purchase, receive, take or grant, hold, convey, sell, lease, pledge, mortgage, and otherwise deal with such real and personal property as the transaction of the lawful affairs of the cooperative may reasonably and necessarily require, subject to the limitations prescribed by law and the Constitution;

7. To enter into division, merger, or consolidation, as provided under RA 9520;

8. To form subsidiary cooperatives and join federations or unions, as provided in this Code;

9. To avail of loans, be entitled to credit and to accept and receive grants, donations and assistance from foreign and domestic sources subject to the conditions of said loans, credits, grants, donations or assistance that will not undermine the autonomy of the cooperative. The authority, upon written request, shall provide necessary assistance in the documentary requirements for the loans, credit, grants, donations and other financial support;

10. To avail preferential rights granted to cooperatives under RA 7160, otherwise known as the Local Government Code, and other laws, particularly those in the grant of franchises to establish, construct, operate and maintain ferries, wharves, markets or slaughters houses and to lease public utilities, including access to extension and on- site research services and facilities related to agriculture and fishery activities; and

11. To exercise such other powers granted under RA 9520 or necessary to carry out its purposes as stated in this article of cooperation.

Article V: Term of Existence

That the term for which this Cooperative shall exist is fifty (50) years from the date of its registration with the Cooperative Development Authority.

Article IV: Common Bond and Field of Membership

That the common bond of membership of this Cooperative is Institutional and the field of membership shall be open to all bonafide employees of ASA Philippines Foundation, Inc. and ASA Philippines Employees Credit Cooperative management and staff with the capacity to contract and possess all the qualifications and none of the disqualifications provided for in the By- laws and this Articles of Cooperation.

Article VII: Area of Operation

That the membership of this Cooperative shall come from Metro Manila and all Provinces of the country where ASA Philippines Foundation and its branches are located. Its principal office established at Unit 1406, 14 th Floor Prestige Tower F. Ortigas Jr. Rd. Ortigas Center, Pasig City, Philippines, 1800. Its present address after amended is located at 18-E San Martin St. Corner San Francisco Kapitolyo, Pasig City.

Article VIII: Name and Address of Cooperators

That the name and complete postal address of the cooperators are as follows:

Article IX: Board of Directors

That the number of Directors of this Cooperative shall be Seven (7) and the name of the directors who are to serve until their successors shall have been elected and qualified as provided in the by- laws are:

Articles X: Capitalization

That the Authorized Share Capital of this Cooperative is One Hundred Million Pesos (PHP 100,000,000.00), and said capital is divided into One Million (1,000,000) shares, with a par value of One hundred Pesos (P100) each share.

Article XI: Subscribed and Paid- up Share Capital

That the authorized share capital, the amount of Twenty-Five Million Pesos (Php25,000,000) has been subscribed, and Six Million Two Hundred Fifty Thousand (Php6,250,000) of the total subscription has been paid by the following members- subscribers:

Article XII: Arbitral Clause

Any dispute, controversy or claim arising out of or relating to this Articles of Cooperation, the cooperative law and related rules, administrative guidelines of the Cooperative Development Authority, including inter-cooperative, inter- federation disputes and related concerns, and any question regarding the existence, interpretation, validity, breach or termination or the business relationship shall be exclusively referred to and finally resolved by voluntary arbitration under the institutional rules promulgated by the Cooperative Development Authority, after compliance with the conciliation or mediation mechanism embodied in the applicable bylaws and in such other pertinent laws.