Article I Preamble

Section 1. TITLE. This Code shall be known as the Code of Ethics.

Section 2. DECLARATION OF POLICY. All officers, staff and members of the cooperative shall abide and adhere to this Code of Conduct. Towards this end, they shall serve with utmost professionalism, integrity, morality and nationalism.

Article II VISION

In keeping with the spirit of Cooperativism, we envision a GLEDCO that will actively promote and advance the upliftment of the quality of life of all members through savings, thrift and self-reliant entrepreneurship.

Article III SERVICE PHILOSOPHY

In the accomplishment of this vision, GLEDCO shall serve its members in a caring, accountable, responsive and ethical manner and thus worthy of the respect and emulation by others.

Article IV PROFESSIONAL ETHICAL STANDARDS

The officers and employees of GLEDCO shall be guided by the following:

Officers and employees, in the performance of their duties and responsibilities, shall be guided by the principles of honesty, dedication and sincerity.

They shall act with utmost professionalism, fairness and courtesy in all their dealings with co-officers, staff, members, and the general public.

They shall act as role models in uprightness, delicadeza and punctuality in the performance of their duties and responsibilities.

They shall, at all times protect, promote and advance the interest and welfare of the cooperative to sustain the growth and well-being of its members and the community in general.

Officers and employees shall not enrich themselves nor engage in any activity that is adverse or in conflict with the objectives of the cooperative and the interest of its members.

Officers and employees shall, at all times, lead an upright and proper lifestyle and shall not get involved in any immoral, indecent and disgraceful conduct.

As trustees of the cooperative, they shall protect the funds of members in accordance with prudent business practices.

They shall provide members timely and accurate information regarding the financial condition, operations and services of the cooperative.

Article V ETHICAL STANDARDS FOR MEMBERS

The members of the cooperative must comply with their sworn obligations and responsibilities. In so doing, they shall:

Promote the aims and purposes of the cooperative, the success of its business and the spirit of Cooperativism in all their dealings.

Participate actively in all affairs of the cooperative and endeavor always to contribute to the interest and welfare of the general membership.

Have the moral rectitude to sacrifice self-interest for the greater number in keeping with the time-honored principle of delicadeza.

Not engage in corrupt, dishonest and other unauthorized and illegal activities.

Obey the bylaws, policies, decision and resolutions of the Board of Directors, General Assembly and the Authority.

Work harmoniously with everyone and give due courtesy and respect to officers, members and the general public in all their dealings.

Article VI GENERAL PROVISIONS

  1. In order to ensure commitment to this Code, the following shall be observed by the officers, staff and members:
    1. All officers, staff and members shall bind themselves that the intent and spirit of this Code are honored and upheld at all times.
    2. Directors and other officers shall set the example and be responsible for the observance of this Code.
    3. All Directors, officers, staff and members shall take an oath that they shall commit themselves to this Code. The oath of commitment shall be done upon acceptance of membership, and upon election, appointment, promotion or assumption to duty of officers and employees.
  2. Promotion and enhancement of this Code is a management policy and strict adherence thereto shall be the responsibility of all officers, employees and members.
  3. Commission of acts/practices in violation of this Code shall be subjected to penalties and administrative sanctions as may be determined by the Board.
  4. Any amendment of this Code may be proposed to the General or Special Assembly for approval and shall take effect upon its adoption.
  5. This Code shall take effect upon approval by the General Assembly.