Profile of FICOBank

The First Isabela Cooperative Bank (FICOBank) is one of the pioneer and prominent cooperative banks in the Philippines. Its origin is deeply rooted in the community, as it was organized 45 years ago by two cooperatives and 47 pre-cooperatives (samahang nayon), which represented the farmers who have limited resources and access to banking services. From a micro cooperative rural bank that it opted to be, it grew to a large cooperative bank, as it can now lay claim to a resource base of over Php4.67 billion (as of end-December 2021).

From the time it launched the first salvo of its banking services in 1980, FICOBank continually operates on the basis of firm and sound cooperative banking principles. And for the reason that its cooperative nature translates to “people helping people transform their lives,” FICOBank is more involved in the community than any other banking institution. To a great extent, it contributes to the socio-economic development of the people, thereby making it a valuable community asset.

FICOBank is primarily engaged in financial intermediation between and among: the farmers, fishers and their organizations; the micro, small and medium entrepreneurs; the rural, urban and overseas workers; and the other groups of financial consumers. It also provides money-transfer/remittance, cash-dispensing and other fee-based services to the public. Its extensive array of innovative financial products and services and its exclusive list of complementary development support and solutions are adaptive and responsive to the multi-dimensional needs of its 104 regular institutional members, 28,031 associate individual members and 41,178 depositing and borrowing clients. This proves that FICOBank is a real people's bank that has a big heart for the common good of the greatest number.

FICOBank’s products and services can be accessed by the banking public at its 39 banking units in 38 strategic locations in the provinces of Isabela, Quirino, Nueva Vizcaya, Cagayan, Tarlac, Nueva Ecija, Bataan, Pampanga, Pangasinan, Bulacan and Kalinga. These operating units effectively extend the Bank’s market reach and bolster its capability to service the growing number of clients.

True to its unique character, FICOBank is owned, managed and controlled by its regular member-cooperatives through their elected/appointed representatives. It is ably governed by its Board of Directors (BOD), which is composed of seven regular directors and two independent directors. The BOD, in its oversight function, is assisted by 11 Board-level committees. Its corporate affairs and business activities are administered and managed by the Treasury & Corporate Services Group (TCSG) and the Operation & Banking Services Group (OBSG), respectively, under the supervision of the Senior Management. FICOBank employs a total of 437 personnel. It is renowned for having top-notch, high-skilled and goal-driven personnel.

FICOBank is ranked No. 1 in the Philippine cooperative banking industry (in terms of financial performance), an “AA” EAGLE Achiever in microfinance performance, a producer of Microentrepreneur of the Year (MOTY) awardees, a recipient of Gawad PITAK/PILAK, a Hall of Famer Cooperative Bank and a Ginintuang Gawad PITAK Awardee. Its outstanding performance has been consistently noticed through the years by the Land Bank of the Philippines, Cooperative Banks Federation of the Philippines, Bangko Sentral ng Pilipinas, Microfinance Council of the Philippines, Citigroup and other award-giving organizations.

FICOBank pursues to be a first-choice bank by the people in its geographic area of operation (Regions I-II-III and CAR). In full awareness of this institutional pursuit, FICOBank puts first and foremost the common interest and aspiration of its members and clients, along with their families and communities. Providing excellent customer service, fostering longer-term relationships and offering the best possible financial solutions are FICOBank’s means to achieve that end.

FICOBank is firmly committed to its corporate-brand promise of staying in the business of community banking for good.







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