What lessons can we draw from it? Topic 1 Coop History

The Modern Cooperatives 1825-Robert Owen 1827-Dr. William King 1833-Rochdale Pioneers 1848-Friedrich Wilhelm Reiffeisen 1870-Alphonse Desjardins

Cooperatives in the Philippines The Americans introduce the modern coops in the Philippines st 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 – 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. 2 nd 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! BACK

Asset Growth is noteworthy! BACK

Deposit and Share is climbing!

ICFS What is ICFS? Why do we need ICFS? Is this really “A Timely Move”?

What is ICFS? ICFS One Coop Bank One Asset Management One Coop Insurance

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 Unity and cooperation are must 2. Self help leading to Mutual Help Self-reliance engenders reciprocity 3. 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. Open and Voluntary 2. Democratic Control 3. Non- Discrimination 4. Service to members 5. 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!