The Tam-an Banaue Multipurpose Cooperative (TBMPC) all the way from Solano, Nueva Vizcaya, conducted a benchmarking visit on January 31, 2025, to the Tagum Cooperative at the TC Main Function Hall hosted by the Tagum Cooperative Youth Laboratory (TCYL).
The benchmarking exercise provided the two cooperatives a wonderful opportunity to learn and discuss best practices, share experiences, and exchange innovative ideas with the aim of improving their respective programs.
Throughout the visit, members were given an overview of the operations, projects, and programs that made the TC Youth Laboratory successful. The insights, which are well-positioned to guide and enhance TBMPC’s future youth initiatives, especially those involving the development of financial literacy, are the focus of the overview.
At the center of the benchmarking exercise was a discussion of the Tagum Cooperative Youth Laboratory, its central mission, and its vision.
The group also conducted a comparison of the services offered, the main members involved, and the stakeholders in the TC Youth Laboratory Cooperative. They also examined the legal aspect, precisely the main permits, licenses, and certifications needed for the operation of the youth laboratory.
Financially, the Tam-an Banaue cited the price set at how TC Youthlab Cooperative funded the initial cost and operational expenses.
They also assessed the pricing mechanism for laboratory costs and how it balances expenses. The financial model used by TC YouthLab for sharing profits became the model for the TBMPC.
Also, in relation to the operations and technicalities, the TBMPC assessed the equipment and technology needed for the TC Youth Laboratory and the appropriate maintenance practices that exist for such a facility.
The safety protocols and software data management systems required for both employees and members were also used as benchmark standards during the benchmarking exercise.
The TBMPC formally asked for guidelines from the TC Youth Laboratory on its management, contributions, and membership qualification.
By engaging in open communication and dialogue exchange throughout this benchmarking process, participants learned new ways of collaboration and innovation to address shared issues.
Both cooperatives stressed the importance of training youth with the skills and experience required to develop financial literacy and be active in the cooperative movement. The idea is to groom an empowered new generation of members who, in addition to knowing the cooperative principles, can make smart financial decisions.
With intensified partnership and commitment, the Tam-an Banaue Multipurpose Cooperative and the Tagum Cooperative Youth Laboratory continue to establish stronger relationships to achieve even more significant progress in empowering the future generation of cooperative leaders. Bryle M. Iligan