what lessons can we draw from it? topic 1 coop history
Post on 23-Dec-2015
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The Modern Cooperatives1825 - Robert Owen1827 - Dr. William King1833 - Rochdale Pioneers1848 - Friedrich Wilhelm Reiffeisen1870 - Alphonse Desjardins
Cooperatives in the Philippines1907 - The Americans introduce
the modern coops in the Philippines.
1938 - 1st successful Credit Union introduced by a
protestant missionary in Tuguegarao, Cagayan.
Lessons LearnedFrom 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 HistoryIt started very, very small, yet it is now a
significantly huge enterpriseIt is still owned by small people, with
average capital of less than P 10,000It has no secret formula of successOver the years, it developed a synergetic culture that propels its growth and underpins its success
FICCO is now a “brand”
Membership Growth is extraordinary!
1980 1990 2000 2010 2011 -
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
987 9,186 24,026
140,128 152,599
Membership
BACK
Asset Growth is noteworthy!
1980 1990 2000 2010 20110
1000
2000
3000
4000
5000
6000
2.849.2
482.2
45885123
Total Assets (In Million)
BACK
Deposit and Share is climbing!
1980 1990 2000 2010 2011
Savings 1.5 20.6 217.1 2095.9 2683.8
Share 1.5 22.7 184.4 1601.2 1886
250
750
1250
1750
2250
2750
20.6217.1
2095.9
2683.8
1601.21886
Savings Share
Why do we need ICFS?Cooperatives become consolidators of funds
and stop at that.Coops in the country is dividedCoops do not enjoy high yield placements and
aggressive investmentsBreaking the Federation barrier mentalityIncrease income of the primary coopsLeverage in our numbers
One Coop BankFBMO + 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 InsuranceThere are two Coop insurance in the country
CISP and CLIMBSFICCO invest in CLIMBS
Climbs have 1,800+ coop membersClimbs became the reinsurance arm of
FICCO/MBAFICCO MBA approves merger with CLIMBSFICCO 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 Philosophies1. 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 Philosophies4. 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 Principles1. Open and Voluntary2. Democratic Control3. Non- Discrimination4. Service to members5. Return to members
Coop Principles6. Financial Stability7. Continuing Education8. Cooperation among Cooperatives9. Social Responsibility
To be a Member in Good Standing
Regular depositorWise borrowerPrompt payorParticipate in the activities of the coop,
especially the general assembly
More Coop ValuesCommon good – policies are adopted with
the good of the majority in mindSavings – 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
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