THREE more Foccus-branded cooperatives in Mindanao breached a “billion” status in terms of total assets as of August this year.
The cooperatives are Agdao Multipurpose Cooperative (AMPC), United Sugarcane Planters of Davao (USPD)-Saving and Credit Cooperative (SCC) and Nabunturan Integrated Cooperative (Nico).
The three have joined two other Foccus cooperatives -- the First Community Cooperative with total assets of P9 billion and Tagum Cooperative with P4 billion.
AMPC, USPD-SCC and Nico operates in the cities of Davao, Digos and Composterla Valley province, respectively.
Model Cooperative Network (MCN), meanwhile, an alliance of Foccus Cooperatives is set to stage the 10th Foccuss Awards Night slated on September 17 at the Davao Convention Center.
MCN has a total 13 member cooperatives including the five “billion-strong” cooperatives mentioned above.
Other members include BCS Credit Cooperative of Bansalan, Davao del Sur, CEV Credit Cooperative of Tagbilaran City, Bohol, Kapalong Cooperative of Davao del Norte, Maragusan Growers Multipurpose Cooperative of Compostela Valley, Panabo Multipurpose Cooperative(PMPC), Pantukan Chess Club Cooperative of Compostela Valley, Samal Island Multipurpose Cooperative, and Silangan Multipurpose Coop.
The awarding and renewal of brands for the members of MCN event will recognize the coops that have achieved and maintained the International Prudential Standards for safe, sound and sustainable cooperative business organizations.
“Achieving Foccus brand will give the coops an image of reliable, trust-worthy and maintained international prudential standards,” said Imelda Magabilen, Chief Executive Officer (CEO) of USPD-SCC and MCN director Monday, September 12, during the Kapehan Sa Dabaw at SM City-Ecoland.
The awards and renewal night happens only every three years.
The International Prudential Standards can help primary cooperatives ensure their members’ money is safe and will grow, offer competitive and quality financial services and ensure sustainability of the coop.
For this year Ficco, SMPC and Tagum Cooperative are set to receive the Platinum Achievement Award “for having attained the highest level of stringent standards required of Foccus Cooperatives.
“The platinum level is the ultimate goal for every Foccus Coop indicating superior member services, business competitiveness and long-term stability,” said Emmanuel Joseph Sumatra, MCN training and marketing specialist.
Sumatra added other awards at stake are Gold and Silver Achievement Awards, which will be given to other 10 members.
Lalaine Gepaya, Chief Executive Officer (CEO) of PMPC, said the gold and silver awards mean that the recipients have complied with the International Prudential Standards “to guarantee safety and soundness of operations and sustainability of their cooperative business.”
Rhoda Ruth Pillerin, CEO of the Foccus Group Cooperatives said in a statement that “for those who are not members of any cooperatives yet, make sure that you pick those that are certified Foccus.”