15 Sep FICCO of CDO to Receive Honors in 10th FOCCUS Awards on September 17
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This coming September 17, 2016 will be the 10th Finance Organization achieving Certified Credit Union Standard (FOCCUS) Awards to be held in Davao City. The said awarding event will give recognition to top performing cooperatives in Visayas and Mindanao which also achieved and maintained the International Prudential Standards for sustainable, safe and sound cooperative business organizations.
Cagayan de Oro’s First Community Cooperative (FICCO) is one of this year’s FICCOS awardees, along with the following cooperatives:
- BCS Credit Cooperative (BCS-CC) of Bansalan, Davao del Sur
- Agdao Multipurpose Cooperative (AMPC) of Davao City
- Kapalong Cooperative (KC) of Kapalong, Davao del Norte
- Maragusan Growers Multipurpose Cooperative (MAGROW) of Maragusan, Compostela Valley
- CEV Credit Cooperative (CEV-CC) of Tagbilaran City, Bohol
To be given the FOCCUS Platinum Achievement Award for meeting the highest standards which were required for FOCCUS cooperatives are:
- First Community Cooperative (FICCO) of Cagayan de Oro City
- Silangan Multipurpose Cooperative (SMPC) of Davao City
- Tagum Cooperative (TC) of Tagum City
Meanwhile, 5 cooperatives were considered billionaire cooperatives which had served substantial number of member-cooperators namely:
- FICCO of Cagayan de Oro City with a total asset of more than P9 billion
- Tagum Cooperative with P4 billion
- AMPC of Davao City (P1 billion)
- NICO of Nabunturan (P1 billion)
- USPD-SCC on Davao del Sur (P1 billion)
As said by the CEO of FOCCUS Group of Cooperatives Rhoda Ruth Pillerin, “Strict adherence to the FOCCUS Prudential Standards helped these cooperatives stay true to their promise of safe, sound and sustainable cooperative operations to their members.” She added that, “The fact that these cooperatives are able to mobilize funds from their members and managed them productively that lead them to breaching the 1-billion peso mark in total assets is a very significant development for the cooperative sector.”
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