SAMULCO: Gratefully moving towards lasting dev't (2008-2017)
PERSISTENCE is the word. The decade 20082017 was marked by persistence that allowed gains to be sustained from its assets, members and social involvement.
A total of 50 years after the coop’s birth, SAMULCO’s assets have grown to more than a billion, revolving through five Savings and Credit offices in Monteverde, Matina, Panacan, Puan and Buhangin, as well as its Buying Club and Polyclinic operations.
To further accelerate gains and develop the coop, SAMULCO crafted a fiveyear strategic plan (2008 – 2012) focused on financial viability, customer satisfaction, operational efficiency, institutional capacity and community and environment.
The plan also gave sheer emphasis on membership policies and expansion; savings and credit, buying club, health care and mortuary services; as well as SAMULCO Foundation.
On October 2008, SAMULCO was hailed by the Davao City Cooperative Council as Hall of Famer for garnering the Most Outstanding Cooperative Award for several successive years.
The Cooperative Development Authority (CDA) commended SAMULCO for being an “epitome of genuine cooperation that withstands all types of crisis and has always emerged victorious in all its endeavors.”
On the same year, SAMULCO earmarked P1 million as seed money to SAMULCO Foundation, Inc.
It was also on the same year that SAMULCO became the first coop in Southern Mindanao to use Automated Teller Machine (ATM).
The coop also actualizes the Gender and Development and Family Enrichment Program (GAD-FEP) by involving all officers and employees to participate in a seminar in 2009. Over 15,000 of the Cooperative’s members are women.
But this decade was challenged by the lingering problem of administrative and delinquency issues. Countering this problem with positivity, the delinquency rate declined from 43 percent in 2009 to 26.17 percent in 2016.
In 2011, the coop provided new loan products for education, pension, medical/dental and calamity.
For its social and environmental commitment, SAMULCO partnered with Davao City Water District (DCWD) on an Adopt-a-Site Project for the protection of Talomo-Lipadas Watershed for five years.
In 2015, in time of the 100th year celebration of Philippine Cooperative., a laboratory cooperative with an Aflatoun Program was launched. It is a program that targets youth, the next generation, the sector that seen to continue the cooperative tradition.
From what was then a small cooperative with only P242 capital investment exactly 50 years ago, the Sta. Ana Multipurpose Cooperative (SAMULCO) has grown in leaps and bounds as it breaches over P1 billion mark in total assets in November last year, a milestone worthy of celebration.
Celebrating its golden anniversary last February 26 at the SMX Convention Center, the 35,000-strong cooperative also launched its book entitled “From Strength to Strength: the story of SAMULCO” which traces the 50-year journey of the leading cooperative from 1967 to 2017.
Looking forward with positivity, SAMULCO has evolved as the coop to reckon with. Through the years, it strives to be a “leading world class savings and credit cooperative of empowered members.”
In its golden anniversary and beyond, SAMULCO is committed to be steadfast to its vision and mission: to provide excellent financial products and allied services to improve socio-economic well-being of members.
Officers and members are living up to the core values of God-centeredness, integrity, excellence, commitment, cooperation, accountability, prudence, and social responsibility.
From strength to strength, SAMULCO, for the next 50 years will continue to stand tall bringing the banner of cooperativism and financial literacy among all Filipinos. In gratitude to God, it shall continue the legacy left by its founders in uplifting the lives of members.
Note: Calling all members for the 50th SAMULCO Annual General Assembly which will be held on March 26, 2017 at the University of Southeastern Philippines Gym, Obrero, Davao City.