Paglaum   Mutual   Benefit   Association,   Incorporated   (Paglaum   MBA)   was   organized   last   2009.   Born   out   of   the   initiative   of   the officers   and   management   of   Paglaum   Mutli-Purpose   Cooperative   under   the   leadership   of   Mrs.   Virginia   S.   Rosal,   Chairperson and   Mr.   Gadwin   E.   Handumon,   General   Manager,   its   main   objective   is   to   have   a   legal   and   legitimate   identity   that   can   cater   the mutual services of Paglaum MPC. A   careful   and   deliberate   process   went   through   in   the   set-up   of   Paglaum   MBA.   There   was   a         consultation   meeting   with   the identified   and   reliable   partner   in   mutual   insurance   services.   With   proper   evaluation   of   PMPC's   microfinance   program,   the challenge   was   the   manner   of   collection   on   the   Mutual   Benefit   Association   whether   or   not   to   integrate   the   collection   practices with   the   existing   microfinance   program.   It   came   to   final   point   when   the   PMPC's   Board   of   Directors   resolved   and   approved   to eliminate   the   Php   5.00   weekly   contributions   of   Members   Mortuary   Fund   (MMF)   and   implement   the   MBA   weekly   contribution amounting to Php 20.00 wherein breakdown into Php 5.00 for Retirement Savings Fund and Php 15.00 for Life insurance. 

Brief History of Paglaum MBA