Get To Know The Billionaire Cooperatives In The Philippines

Get To Know The Billionaire Cooperatives In The Philippines

By William Bordeos

Posted on October 18, 2016

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operatives in the Philippines

A century and a year after the first law supporting cooperatives – the Act of 2508 – was signed in February 5, 1915, cooperatives in the Philippines have produced about 35 billionaire cooperatives, five of which are cooperative banks. These cooperative banks are what we call secondary cooperatives since its members are not natural persons but cooperatives as well. Primary cooperatives have natural persons as members.

This October, we are celebrating the Cooperative month by virtue of Presidential Proclamation NO. 493, Series of 2004. This year’s theme is “Cooperatives: the Catalyst of Change through Poverty Eradication and Social Transformation.”

The Top Billionaire Cooperatives In The Philippines

Interestingly enough, the top two slots in the list of billionaire cooperatives in the Philippines are those catering to the military. The Philippine Army Finance Center Producers Integrated Cooperative (PAFCPIC) has about 8.3 billion total assets. ACDI Multipurpose (ACDI MPC)Cooperative, on the other hand, has about 12.29 total asset base, according to the Cooperative Development Authority’s website.

Members are those in active service, retirees, those in the reserved force and the regular civilian employees. Besides loan services, PAFCPIC has their own grocery, canteen, water refilling station and even commercial space rental. ACDI MPC has its own aviation school in Poro Point, San Fernando La Union. They also have an agri business, leasing of resort condominiums and even a lab coop, which caters to youngsters aged 7-17 years old. As of August 2015, ACDU AMP has more than 80 branches and extension offices and about 17 mobile operations.

Billionaire Cooperatives Across The Philippines

Based on the  list provided by CDA-CAR, there are 12 billionaire cooperative from NCR and 4 from Batangas, Palawan and Laguna.  Region 7’s Cebu and Negros Oriental has four as well while Davao has 3: Tagum Cooperative [1.21 billion], Sta. Ana MPC [1.15 billion] and King Cooperative [1.03 billion]. Leyte and MIsamis Oriental has two each. Cagayan de Oro’s First Community Cooperative (FICCO) was able to make it to the third slot with about 4.79 billion total assets.

Baguio City’s BBCCC, or Baguio-Benguet Community Credit Cooperative made it to top 20, with 1.48 billion total assets while Cagayan de Oro’s Oro Integrated Cooperative [OIC] has the lowest total assets of 1.02 billion.

Here are the top ten billionaire cooperatives in the Philippines as of March 2016:

1  Philippine Army Finance Center Producers Integrated Cooperative (PAFCPIC)

2  ACDI Savings and Credit Cooperative

3  First Community Cooperative

4  Cooperative Rural Bank of Bulacan

5  Cebu CFI Community Cooperative

6  PLDT Employee’s Credit Cooperative Inc.

7  Novaliches Development Cooperative (NOVADECI)

8  Pangasinan III Electric Cooperative (PANELCO III)

9  DSE (BSP) Credit Cooperative

10 Metro South Cooperative Bank

For a complete list of all the registered cooperatives in the Philippines, click here. Find one and be part of the cooperative movement now.

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