Case 3: Vifel Cooperative Bank Vifel Cooperative Bank is a financial entity wherein its members are also the owners and customers of the bank. Initially, a group of 35 incorporators bound themselves to meet their c goals, objectives, and aspirations. Inspired by the need to propagate the values of trust, self-help self-responsibility, respect, community spirit, equity, integrity, self-regulation, and harmony, Vif Cooperative Bank was founded. Vifel Cooperative Bank espouses the seven cooperative principles of voluntary and open membership, democratic member control, member economic participation, autonomy and independence, education, training and information, co-operation among co- operatives, and concern for community. Today, the bank provides a wide range of banking and financial services to its customers. This includes savings and credit facilities like deposits, salary, teacher, housing, and auto loans, banking accounts, and other related financial services. Membership is so far pegged at 898 and the number continues to increase. Vifel Cooperative Bank is competently managed by an aggressive and dynamic bank manager Supported by a pool of financial people who are qualified and knowledgeable in banking, trusted and responsible in handling monetary, and imbued with involvement and commitment, the Bank has been successful in serving its customers who happen to be its stakeholders. Through the Bank, more members are able to build their own homes. The opportunity to own one has been appreciably welcomed by the members. This has given them a sense of security and safety and more than that, a sense of self-prid and self-respect. Auto loans likewise allow the members to purchase cars. For parents sending th children to school, credit facilities have helped members pay their children's tuition fees. In ad Vifel Cooperative Bank has supported its members in their entrepreneurial ven borrowings, some members were able to put up their own businesses: baking and selling types of breads, cakes, cookies, and other pastries; selling vegetables, meat products, an eir From their different opening franchises in mineral water, milk teas, and ice creams; and sewing t-shirts, shorts, and dusters. n the successes of Vifel Cooperative Bank, debt collection has been difficult. A number of members have defaulted in the payment of their loans. Reasons like lack of income and the reality knowledge in handling one's finances have been common responses from these delinquent its payers. STRATEGIC MANAGEMENT MADE SIMPLE 216 strategies will you carry out to As Branch Manager of Vifel Cooperative Bank, what that loans are paid on time, thus decreasing significantly the percentage of defaulted loarmake s case method to come up with an action plan. Use