Topic 1
Coop History
What lessons can we draw from it?
The Modern Cooperatives
 1825
 1827
 1833
 1848
 1870
-
Robert Owen
Dr. William King
Rochdale Pioneers
Friedrich Wilhelm Reiffeisen
Alphonse Desjardins
Cooperatives in the Philippines
 1907
-
 1938
-
The Americans introduce the
modern coops in the
Philippines.
1st successful Credit Union
introduced by a protestant
missionary in Tuguegarao,
Cagayan.
Lessons Learned
 From Owen’s and King’s efforts: good intentions
are not enough; start small (from simple to
complex); internal capital; ownership; need for
unity, cooperation
 From the Rochdale Pioneers: Learning from
mistakes; perseverance; the importance of written
policies
History of FICCO
•Founded in 1954 as Ateneo Credit Union (ACU)
•Became Ateneo Credit Cooperative Union
(ACCU) in 1970
•First Community Credit Cooperative (FICCCO) in
1980
History of FICCO
•First Community Cooperative (FICCO) in 1990
•2007 – Resurrected the Misamis Occidental
Cooperative Bank (MOCB) now First
Community Cooperative Bank of Misamis
Occidental (FBMO)
•2008 – Majority stockholder of Cooperative
Bank of Davao Del Sur (CBDS) & Cooperative
Bank of Surigao Del Sur (CBSS
History of FICCO
•2009 – Biggest investor of National
Cooperative Mutual Fund (NCMF) of the
Philippines.
•2nd biggest investor of CLIMBS.
•Largest Community-type Cooperative in the
country.
•Total Assets of P5+ Billion & membership of
152,000+ as of Dec. 31, 2011.
What’s Significant About FICCO’s History
 It started very, very small, yet it is now a significantly




huge enterprise
It is still owned by small people, with average capital
of less than P 10,000
It has no secret formula of success
Over the years, it developed a synergetic culture that
propels its growth and underpins its success
FICCO is now a “brand”
Where is FICCO now?
Membership
Assets
Deposits
Membership Growth is extraordinary!
Membership
140,128
160,000
152,599
140,000
120,000
100,000
80,000
60,000
40,000
20,000
24,026
987
9,186
1980
1990
2000
2010
2011
BACK
Asset Growth is noteworthy!
Total Assets (In Million)
6000
4,588
5,123
5000
4000
3000
2000
1000
2.8
49.2
482.2
0
1980
1990
2000
2010
2011
BACK
Deposit and Share is climbing!
Savings
Share
3000
2,683.80
2500
2,095.90
2000
1,886
1500
1,601.20
1000
500
20.6
0
Savings
Share
1980
1.5
1.5
1990
20.6
22.7
217.1
2000
217.1
184.4
2010
2,095.90
1,601.20
2011
2,683.80
1,886
ICFS
 What is ICFS?
 Why do we need ICFS?
 Is this really “A Timely Move”?
What is ICFS?
One Coop
Bank
One Coop
Insurance
ICFS
One Asset
Management
Why do we need ICFS?
 Cooperatives become consolidators of funds and stop





at that.
Coops in the country is divided
Coops do not enjoy high yield placements and
aggressive investments
Breaking the Federation barrier mentality
Increase income of the primary coops
Leverage in our numbers
One Coop Bank
FBMO + CBDS + CBSS =
“CONSOLIDATED COOPERATIVE BANK”
is now Approved by the
Bangko Sentral ng Pilipinas (BSP)
 Metrosouth Coop Bank (MSCB) & Capiz Settlers
Cooperative Rural Bank approved to join the CCB by
consolidation or merger
Our Proof of Concept!
One Coop Insurance
 There are two Coop insurance in the country CISP and
CLIMBS
 FICCO invest in CLIMBS
 Climbs have 1,800+ coop members
 Climbs became the reinsurance arm of FICCO/MBA
 FICCO MBA approves merger with CLIMBS
 FICCO approves the purchase of P11Mil+ worth of
stocks of CDA in CISP, though not approve by CISP
One Coop Insurance
Coop Life Insurance & Mutual Benefit Services
(CLIMBS)
can be the be one cooperative insurance
in the country
One Coop Asset Management
FICCO with other national century coops created the
National Cooperative Mutual Fund (NCMF) Inc.
NCMF will handle investment of the cooperatives excess
funds to obtain high yield interest on their
investments
Coop Philosophies
1.
Union of Persons
•
2.
Self help leading to Mutual Help
•
3.
Unity and cooperation are must
Self-reliance engenders reciprocity
Equality and Equity
•
Members enjoy equal rights but share benefits/risks equitably
Coop Philosophies
4. Tool for Reform
•
Joining a coop requires changing one’s outlook,
attitude, way of life
•
This leads to improving quality of life
5. A Coop is –
 Not for Profit
 Not for Charity
 But for SERVICE!
Coop Principles
 Most of these were part of the ‘Business Policies’ of the
Rochdale Cooperatives.
Coop Principles
1.
2.
3.
4.
5.
Open and Voluntary
Democratic Control
Non- Discrimination
Service to members
Return to members
Coop Principles
6. Financial Stability
7. Continuing Education
8. Cooperation among Cooperatives
9. Social Responsibility
To be a Member in Good Standing
 Regular depositor
 Wise borrower
 Prompt payor
 Participate in the activities of the coop, especially the
general assembly
More Coop Values
 Common good – policies are adopted with the
good of the majority in mind
 Savings – No person, institution, or country
will progress if the said person, institution, or
country does not know how to save.
 Wrong formula: Income - expenses = savings
 Correct formula: Income – savings = expenses
THANK YOU!