OCTOBER, A MONTH FOR COOPERATIVES
(First in a Series of Four)
By Anselmo B. Mercado, October 2016
Dr. Anselmo Mercado
The October Cooperative Month is an annual event, a unifying celebration of cooperatives all over the world – the cooperative movement, a great global movement with a unique socio-economic philosophy and spirit that inspires. This series of articles are intended to tell that story, with some historical sketches and concrete experiences of cooperatives right in our midst.
This Article 1 tells of how the cooperative movement in Cagayan de Oro City started — a small beginning, like a “mustard seed” that was sown, germinated, grew, branched into a tree and produced good fruits. This will be followed by three more : Article 2: Revisiting the Millennium Development Goals and the Concept of Poverty; Article 3: Revisiting the Concepts of and Approaches to Development; and Article 4: Cooperatives in the New Millennium: Their Contributions to Poverty Alleviation and Development.
The “roots” of FICCO dig deep. Its “taproot” penetrates down to the very beginnings of the cooperative movement sown by the “Fathers” and pioneers.
FICCO Banner
To name a few: Robert Owen (organized the “communal villages,” 1825), The Rochdale Cooperative Society (formulated “The Rochdale Cooperative Principles,” 1848), Wilhelm Raiffeissen (organized the credit cooperatives in Germany, 1848-1860), and Alphones Desjardines (organized the first credit union in N. America in Canada and the USA).
These pioneers gave us the unique philosophy, principles and core values of COOPERATIVE-ISM: democratic ownership and control of business enterprises by members (principle of equality), distributing “surpluses” from the business operations back to the members through dividends and patronage refunds (principle of service above profits and equity), volunteerism, continuous learning and education, self-help-mutual-help for people and community development (principle of people empowerment), or in a capsule cooperative-ism is “brotherhood economics”.
Cooperatives and their members have adopted the motto – “All for One, One for All.”
Fr William Masterson SJ
From this taproot, the Ateneo Credit Union (ACU) sprouted on July 8, 1954. Encouraged and inspired by Fr. William F. Masterson, S.J., fifteen pioneers, all personnel of then Ateneo de Cagayan (now Xavier University), organized the school-based ACU with initial deposits of P26.30, probably the first credit union in Mindanao.
Atty Mordino Cua
Its first president was Mr. Olivero Suazo and the first treasurer/manager was Atty. Mordino Cua (who became one of the most prominent cooperative leaders in the Philippines).
Sometime in 1982, Fr. Masterson wrote:
“It is thirty years since I began “preaching” cooperatives in Cagayan de Oro and Northern Mindanao. To have witnessed the acceptance and proving out of the considerable potential of this instrument for human, social growth has been a most rewarding experience.
This has been particularly the case with the First Community Credit Cooperative, Inc, a most successful pioneer model and leader in Mindanao.” (Manual on Policies, by Anselmo B. Mercado, FICCCO, SPECC Printing Press, 1982)
The ACU grew within the school community. However, its growth could not be contained within the school. The cooperative idea and values spread to the wider community of Cagayan de Oro and far beyond.
The following are historical Milestones:
1970 – The members approved to open ACU to the residents of the city. That year also marked the beginning of the fulltime service (8-hour office work) of ACU.
1972 – A significant year when professionals from the commercial banking sector joined the ACU. A few of them became officers of FICCO bringing with them their banking expertise and improving ACU’s management system. This was also the year that the Presidential Decree 175 was issued by President Marcos, a provision of which required to attach the “cooperative” to names of all cooperatives. Hence ACU became the Ateneo Cooperative Credit Union (ACCU).
1976 – ACCU moved out of the Xavier University campus to rent an office space in the Abejuela building located at Tiano-Yacapin Streets in Cagayan de Oro.
FICCO Cagayan de Oro
1978 – The ACCU members amended the Bylaws changing the name of ACCU to “First Community Credit Cooperative, Inc.” (FICCCO, Inc.), and, officially restructuring its field of membership to include teachers, school personnel, market vendors, small entrepreneurs, jeepney and motorela drivers, bank employees, office workers, small farmers, etc.
1980 – FICCCO transferred to its first ever-owned lot and three-storey building (called the “Main” which in the Year 2000 was later renamed “Montano F. Sabanal, Jr. Hall” (in honor of an outstanding leader and member of FICCCO).
1992 – FICCCO became a multi-purpose cooperative and changed its name to First Community Cooperative Inc. (FICCO). It opened its first branch in Carmen, Cagayan de Oro.
2003 – On December 31, 2003, FICCO became a “billionaire coop” with Total Assets of P1.014 and the total membership surpassed the 50,000 mark (52,023) spread over 15 fully operating branches.
2004 – FICCO celebrated its Golden Anniversary.
2010 – FICCO had established 26 branches in Mindanao and Visayas (9 provinces, 11 cities, 10 municipalities); Total Assets reached P4.55 Billion; Total Deposits of P2,097 Billion (Savings, Time, Optional Retirement Savings, Young People Savings); Total Membership numbered 140,128; the great majority (92%) of members were in ages ranging from 18-50; Their occupation were varied: homemakers (5%), private employees (23%), government employees (19%), teachers (12%), professionals (1%), pensioners/retirees (1%), entrepreneurs/business people (31%), farmers (1%), fishermen (4%), drivers/operators of vehicles/mechanics (3%), laborers (0.2%); Total Fulltime Staff numbered 275.
2015 – Total Membership was 263,814 spread in 37 branches operating in Luzon, Visayas and Mindanao, employing a total of 436 employees. FICCO had established three subsidiaries, namely: 1) Consolidated Coop Banks, 23) Cooperative Insurance System of the Philippines, 3) Memorial Services Cooperative Federation.
Its Total Assets amounted to P 8.326 Billion. The Total Common and Preferred Shares totaled P3.279 Billion, Gross Revenue was P862.5 M, and Total Net Surplus was P300.54 Million.
Conclusion
The success and impact of FICCO has been remarkable and in many ways incalculable. “Small is Beautiful” FICCO was. But from a small school credit union, it has become a “giant”. It is one of the biggest if not the biggest savings and credit cooperative in the Philippines today. Its vision and ideals, handed down from the fathers of the cooperative movement, have found great meaning in the little regular ways that members share their resources to help one another, and magnanimous leaders who are willing to serve generously “without counting the cost” to serve others.
Our Good Lord, who has commanded us: “As I love you, you also must love one another,” and who has described the “Kingdom of God” like a “mustard seed that a man plants in his field, The plant grows and becomes a tree, and the birds make their nests in its branches.” (Luke 13:18), He must be pleased with the impact that FICCO has made on His people (many of whom are plain ordinary folks) and on society. It is an inspiring story to share with others with pride and joy.
On this annual event, October Coop Month, it is fitting for a thanksgiving, most of all to the Good Lord of the Harvest, for His guidance and for the abundant fruits He blessed FICCO and the cooperative movement with all over the world. I pray that the cooperative members, leaders and those who promote the cooperative movement will continue to “establish the Kingdom of Heaven” on earth more firmly to withstand adversities and face the challenges ahead.
– INDNJC –