Living Up to the Principle of Cooperation Among Cooperatives

“In order to best serve the interests of their members and their communities, cooperative organizations should actively cooperate in every practical way with other cooperatives…” This is the essence of the sixth principle of cooperativism, entitled “Cooperation Among Cooperatives.”

Recognizing the importance of this cooperative principle, the Tagum Cooperative, a billionaire multi-service primary cooperative in Tagum City, Davao del Norte, after its recently-concluded Five-Year Strategic and Operations Planning, felt the need to establish inter-cooperation with FICOBank through a Study Visit. This was brought about by its operational intent to make big-ticket commercial/business loans. And the officers of Tagum Coop knew that FICOBank is the best cooperative organization to learn from. Although FICOBank is a bank-type cooperative and Tagum Coop is a credit-union-type cooperative, both are financial cooperative organizations with deposit-taking and loan-making functions.

In living up to this universally-accepted cooperative principle, FICOBank—without any dilly-dallying—gladly granted the request of Tagum Coop for a three-day Study Visit. This was held on February 21-23, 2011. A six-person study group, headed by Ms. Admarie D. Marcelo, General Manager of Tagum Coop, and accompanied by Mr. Jowell L. Tan, Vice President of the VRV Management and Property Consultancy, Inc. and Consultant of the Coop, took the exhausting Davao-to-Manila-to-Cauayan air travel for this purpose. The visitors were, however, extremely refreshed upon arrival, as they were amiably welcomed by Ms. Carlyn M. Viloria, HRAD Head of FICOBank, at the arrival area of the Cauayan Airport. Upon reaching the Corporate Office of FICOBank, a streamer welcoming them was very visible at the entrance of the building. They also felt the warmth of the meet-and-greet session with the senior officers of the host bank.

Before the formal lectures on the best banking practices and lending system of FICOBank by its senior officers, the study group visited the operating units of the Bank in Alicia, Echague and Santiago. The group also took the privilege to catch sight of the famous Magat Dam in Ramon, Isabela.

Mr. Herminio G. Ocampo, the President/CEO of the Bank, made a powerpoint presentation of FICOBank’s Profile, Organizational Structure and Banking Operations. This was followed by lengthy presentations on the Lending System and Delinquency Management of the Bank by Mr. Emilio U. Rico, Jr. and Atty. Hubert E. Molina, Credit and Treasury Departments Head and AMLD Head, respectively. As this particular Study Visit was a learn-and-share activity, the General Manager of visiting coop also presented the Tagum Cooperative’s Profile and Best Practices to the MANCOM members of FICOBank. 

The inter-cooperation between Tagum Coop and FICOBank was indeed mutually beneficial in many operational aspects. With this, both are assured of their long-term sustainability and growth—all for the best interests of their respective members and communities. So goes the oft-expressed saying: “Honey could never be made by one bee in a hive.”