Focus on a cooperative giant

MANILA, Philippines — Exactly 50 years ago, this Cooperative was organized by some Rover Scouts of San Dionisio, Parañaque. With the help of the Institute of Social Order, the initial members learned the Principles and Concepts of Cooperatives. That time, members can borrow P50.00 as productive loan. This was the beginning of San Dionisio Credit Cooperative.

 

From its initial 28 members, the Coop has now about 13,174 and boast of a net worth of over P600 million. As of end of 2010, the Coop released loans of about P400 million. All of these were the result of good governance and sound financial management by its Board and various committees through the years.

 

What is interesting to note are the kinds of services they have offered their members and the community as well. They have organized Botica de San Dionisio, where members have access to cheaper medicines. They are also proud of Escuela de San Dionisio, that provides basic education to the children of their members.

 

They are also into money transfer under their tie up with Western Union as well as Documents and Parcel Express, a project with RAF International.

 

Considered as the “biggest community based Credit Cooperative” in Asia, San Dionisio Credit Cooperative owes much of its success to the volunteers who served not only in the Board but also in the various committees, whose function to help manage its operations. Its Pre-Membership Training for instance, was conducted practically every week in the different Barangays (called “Pook Tulungan”) teaching more than 3,000 new members in 2010.

 

Aside from the hundreds of volunteers, San Dionisio Credit Cooperative (SDCC) has helped organized other cooperatives in other towns not only in Metro Manila but in other parts of the country and has supported the movement both in the region and at the national level.

 

As a community-based Cooperative, they have relied solely on the cooperation of their members. Unlike institutional based, where capital contribution and loan repayment are all done through payroll deduction, SDCC takes all the risk in their loan granting services. But thanks to the help of their area leaders, delinquency rate have been properly managed.

 

Visit SDCC and see how people without formal banking experience can manage a big operations like San Dionisio Credit Cooperative. At least we can showcase to the world, a truly self-help, self-managed, and self-patronized organization. Congratulations to San Dionisio on their 50th anniversary.

Business Option
By TEODORO P. ESTACIO
June 16, 2011, 2:28am
The article is from Manila Bulletin