FICCO's Prudential Planning

Reaching the summit of perfect existence in collaborative financial business, requires efficiency in showing care and forethought of the years to come.

Provident thrift

FICCO had gone through it and proven such for 54 long glorious years. Its secret--diligence and consistency in being thrift. In our own native language, we call it "kuripot" or "inot". It sounds nice to some, to some maybe jocular, but this is how the cooperative had survived and had helped many families and businesses. Prudent, or the act of showing care and thought for the future is the right term why FICCO had existed for fifty-four years.

3 billion mark

While the world suffers from extreme financial meltdown, FICCO's careful prudential planning architectures a state of liberation from this recession. FICCO had escaped this second great global recession which traced back in 1929 the hardest hit, when the world was in distress from the devastating effects of economic downturn. As of end of 2008's financial calendar to the beginning of 2009, the coop hit the P3 billion dot. Yes a mere three-billion peso mark in assets with a benefited-members of over a hundred thousand across the southern island of the Philippines. It had uplifted many businesses through its *0.75% interest per month scheme or less than 1%--the lowest interest in all of the open-type coops in the Philippines.

Saving and Tender Care

Through its education committee, members are taught on the value of saving. Its staff and officers working inside its corresponding branch and business centers play the lead role of a providential prudent member. They always suggest loan for a productive use. They are keen in qualifying a member who religiously saves money, because these kind of people will help protect the existence of the cooperative. A prudent example, produces prudent members and the cycle continues.

Sympathetic stewardship

Today, the board recently extended compassionate concern to its members by removing the withholding tax on **savings and time deposits. More interest from deposits can now be gained. It is the right time for to open one now.

You can be rich

Director Isagani B. Daba, vice-chair of FICCO for 2008-09 once said that the meaning of the word saving is money received minus deposit equals expenses. He means that save first before you spend. Example you are an employee receiving regular salary, the first step to do is to cut a portion of your salary for deposit and the remaining portion is for expenses. By religiously doing this, you won't notice your money had gone far beyond what you expect. Say you are a minimum wage earner, you save P1,000.00 for a 15-day salary, in the month, you have P2,000.00 and in a year you have P24,000.00. By joining FICCO, you learn its culture, the habit of saving money.

United in one goal

To help is the basic goal of FICCO. By increasing its assets, more Filipinos benefit from its prudential education curriculum--to save for productivity. To assist members financially for productivity.

*based on the 1 year loan category of 9% interest per annum

**based on 54th annual general assembly report