Milestones

For over a period of years, FICOBank did not only witness the passing of time but brought in—directly or indirectly—numerous happenings that have helped it evolved as a prominent and premier cooperative bank in the Philippines. These developments of varied dimensions gave more significance and extra impact to its institutional mandate. Hereunder is a rundown of FICOBank’s milestones in its birth years, early years, growth years and expansion years spanning for about four decades now.

Birth Years
1976
Organization of FICOBank (then First Isabela Cooperative Rural Bank) through the initiatives of the leaders of two cooperatives and forty-seven samahang nayons.

1979
Registration of FICOBank’s Articles of Incorporation and By-Laws by the Securities and Exchange Commission; and granting of the Bank’s Certificate of Authority No. B-1000 by the Central Bank of the Philippines to operate as a rural bank.

Early Years
1980
Formal opening of FICOBank’s banking services to the public on January 2, 1980, with Central Bank Governor Gregorio S. Licaros and Dr. Orlando J. Sacay, father of the Philippine cooperative banking, as guests of honor.

1986
Appointment of Ms. Soledad S. Cabantac as Manager, who made a significant increase in membership and remains to be one of the longstanding pillars of inspiration and integrity of FICOBank.

Growth  Years
1991
Confirmation of FICOBank’s registration by the Cooperative Development Authority (CDA) per Certificate of Registration/Confirmation No. C-661.

1992
Election of Mr. Herminio G. Ocampo as Chairman of the Board of Directors, who became the most prominent leader of FICOBank and its prime mover in making it as a premier cooperative bank in the country today.

1994-97
Recognition of FICOBank as the Most Improved Countryside Financial Institution by the LANDBANK Countryside Development Foundation, Inc.

1995
Opening of FICOBank’s branches in Isabela and other provinces of Cagayan Valley (Region 2).

1996
Awardee of the Land Bank of the Philippines’ Gawad PITAK as Outstanding Cooperative Bank in the Philippines.

1999
FICOBank pioneered microfinance in Region 02, which enabled thousands of microentrepreneurs to improve their lives and livelihoods.

2000
Creation of different departments in the Corporate Office of FICOBank to provide its branches with the needed support services.

2002-03
Recognition of FICOBank as Producer of Microentrepreneur of the Year (MOTY) by the Microfinance Council of the Philippines, Bangko Sentral ng Pilipinas and Citigroup for the selection of its microfinance clients as MOTY Awardees in different categories (national and island-group levels).

2003-08
Recipient of the RBAP-MABS EAGLE Achievement Award for its excellent performance in microfinance operations.

2004
Inauguration of the Corporate Office of FICOBank; amendment of its Articles of Incorporation and By-Laws; and registration of its present name, First Isabela Cooperative Bank, Inc., with the CDA.

2004-06
Ranking of FICOBank as the No. 1 Cooperative Bank in the Philippines in terms of financial performance by BANGKOOP.

Expansion  Years
2006
Recipient of a Certificate of Transparency from the Microfinance Information Exchange (MIX), a US-based NGO, for its dedication to promote transparency, quality and reliable information in microfinance.

2006-08
Hosting of numerous Lakbay Aral of cooperative banks and rural banks from all over the country; thus, earning its title as the Learning “Mecca” of countryside banks.

2007
Recognition of FICOBank as Hall of Famer of the Gawad PITAK under the cooperative rural bank category.

2007-08
Establishment of FICOBank’s branches in Central Luzon (Region 3); and opening of field offices in Region 2 to address the “near-you” aspect of the financial market.

2008
Establishment of FICOBank’s area office in Cabanatuan City to oversee its operating units outside Region 2.

2009
Opening of FICOBank’s branches in Pangasinan (Region 1); and selection of FICOBank as the first winner of the Ginintuang Gawad PITAK (Cooperative Rural Bank Category), besting two other cooperative banks from the ranks of Gawad PITAK Hall of Famers.

2010
Approval of FICOBank's conversion/upgrading from a cooperative bank to thrift bank by the Monetary Board of BSP.

2011
Adoption of the Blueprint for Transformation; and establishment of the area office in Northeast Luzon.

2012
Recording of a phenomenal operational performance, which will go into the archives of FICOBank as the most profitable year in its history.
 
2013
Conversion of Extension Offices into full-fledged branches.
 
2014
Conduct of FICOBank's strategic and operational planning to define its business, determine whom its business is intended for, identify the needs that it wants to satisfy, and pinpoint its key capabilities to satisfy such needs.
 
2015
Opening of FICOBank's additional three branches in Nueva Ecija and a new branch in Bulacan.

2016
FICOBank reached its 40 years of corporate existence; and installed its new President—Atty. Hubert E. Molina.
   
 
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