Chamber of Pawnbrokers of the Philippines, Inc.

Chamber of Pawnbrokers of the Philippines, Inc.

The Chamber of Pawnbrokers of the Philippines, Inc. (CPPI) is an organization that aims to serve and represent the interests of the firms and individuals involved on the aspects of the pawnbroking industry.

The CPPI keeps its members aware of current and pending legislation pertaining to the industry and works to represent the interests of member pawnbrokers to the approriate agencies like the Bangko Sentral ng Pilipinas and the [http://www.bir.gov.ph Bureau of Interval Revenue] .

Mission

The mission of the Chamber of Pawnbrokers of the Philippines Incorporated is to contribute to the professional and personal development of the member pawnbrokers through the enhancement of the image and perception of the industry by advocating pawnbrokers’ rights, responsibilities and issues and by representing and speaking for the whole pawnbroking industry.

Vision

The vision of the Chamber of Pawnbrokers of the Philippines Incorporated is a complete and a vibrant membership that enjoys a positive public and political image and is the focal point of all pawnshops.

History

The history of the Chamber of Pawnbrokers of the Philippines, was conceived, born and baptized out of necessity. Politicians would prey on pawnshops individually either to please their pawning constituents or for ulterior motives. Many times, they threatened to pass ordinances, which would increase the burden in the business.

As a group of pawnbrokers headed by Mr. Zerda gathered together in October 1949 and registered with a notary public the name Philippine Pawnshops Association. The Association held its first recorded meeting at the Old Selecta on Azcarraga Street (now Recto Avenue) cor. Lepanto, Manila in November 26, 1949. The Philippine Pawnshop Association met three other times after its organization meeting, its Bulletin of September 20, 1951 shows. About five years after this last meeting, a group composed mostly of second-generation members, younger and with ideas attuned to the “atomic age”, felt the need for a more dynamic association responsive to the current problems of pawnbrokers throughout the country. These young Turks started holding their own meetings in 1956 and elected by acclamation their own set of officers. The first set of officers was hold office up June 4, 1958. The present name of the group was adopted and officially announced in a Circular Letter dated June 6, 1958, signed by Jose P. Tambunting, secretary. The letter read: “Notice is hereby given to all our members that our Association’s name has been changed from the official name of “Philippine Pawnbrokers Association, Inc.” to “Chamber of pawnbrokers of the Philippines, Inc.”

CPP members eventually participated more actively in the country’s business projects, taking leading roles in the Chamber of Commerce of the Philippines Trade Mission to Hong Kong from January 3-8, 1961. Past president Arcega headed the CPP Trade Mission with also had the following CPP members: incumbent president Clemente C. Abella, Felicula Galang, Picache, and past president Zalamea.

The Chamber was able to retrieve all pledges taken on the basis search warrants at a nominal cost per member, securing pawnshops from the manipulation of swindlers. This was a victory for all, since the wider contribution of funds made it cheaper for individual members to go to court and the decision of the court would be binding on all its members. Savings and loan institutions, credit unions and the large consumer credit corporations abound worldwide. With the advent of such monolithic financial empires, the pawnshop was reduced to the lesser lending role. But the pawnshop still remained a vital element in the area of consumer credit. People continued to need to borrow small amounts, which the larger institutions were not willing to provide. The result was a rising popularity of the once almost extinct pawnbroker.

External links

[http://www.cppi.ph Official Site: Chamber of Pawnbrokers of the Philippines, Inc.]


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