Profile

NXP is a top 10 semiconductor company founded by Philips more than 50 years ago. Headquartered in Europe, the company has 37,000 employees working in more than 20 countries and posted sales of EUR 5 billion in 2006. NXP creates semiconductors,system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices.

Cooperative

Within the NXP Semiconductors is the NXP Semiconductors Calamba Employees Multi-Purpose Cooperative (NSCEMC). Its mission is to be the premiere cooperative within the NXP organization committed to provide its members financial empowerment with responsibility through the spirit of interdependence.

The cooperative was organized on November 2001 by 16 incorporators representing the various departments of the company. The cooperative started its humble beginning with an initial paid-up capital of P24,000.00. Fortunately, because of massive membership expansion, the growth in terms of capitalization was unprecedented and enormous.

As of March 31, 2006, the coop membership reached 2,221out of 2,425 eligible employees with paid-up capital of over 66 million pesos and total assets exceeding 94 million pesos.

Primarily, the cooperative provides savings and loans program for the employees. Aside from regular capital build-up, the cooperative offers time deposit program also. Several loan windows are offered to the various financial needs of members such as Petty Cash Loan, Emergency Loan, Providential and Productive Loan. (See attached Loan Matrix of NSCEMC). The cooperative likewise implements various socially relevant projects such as training for officers and members, fund raising campaign for the needy members and bingo socials.