COMPANY PROFILE

BAGUIO COLLEGES FOUNDATION CREDIT COOPERATIVE

History of BCFCC

Baguio Colleges, as the University of the Cordilleras (UC) was earlier known,

was established on June 19, 1946 and pioneered tertiary education in the

mountain highlands of the Cordillera region amidst devastation in and around

Baguio City after the Second World War. It initially offered courses in teacher

training and liberal arts, with the first batch of enrollees consisting of 156 students.

In 1966, Baguio Colleges was converted into an educational foundation. Since

then, it has blazed new trails and has become more responsive to the needs of

the time which leads to the organization of a cooperative.

The Baguio Colleges Foundation Credit Cooperative (BCFCC) was created

to cater to the credit and savings needs of the employees of the university, which

would assist them during contingencies or emergencies. BCFCC was incorporated

by fifteen (15) incorporators, five (5) of them emerged as the Board of Directors

through oral appointments. They also unanimously appointed treasurers and

chairpersons for the different committees which are the Credit Committee, Audit

and Inventory Committee, Election Committee and Management Staff

Committee. It was registered with and certified by Cooperative Development

Authority-Cordillera Administrative Region (CDA-CAR) by issuing CEO, No. 608 on

August 15, 1996. [To be collected] 1. Who is the founder of the cooperative, what

opted them to organize the cooperative? 2. Was the original plan followed, if
there are changes, what are they? 3. How many are the recent roster of

members?

Nature of BCFCC

BCF Credit cooperative wanted to promote the values of thrift,

cooperativism, and volunteerism to its members and enjoy unlimited opportunities

for improving their social and economic well-being. Its members were saving

regularly by contributing a fixed deposit or share capital ranging from Php 5,000

to Php 10,000 and can borrow two times their paid-in deposit after three months

of membership. Their members can also avail petty cash loan of Php 2,000 for

emergency purposes.

In order to encourage its members to act and repay promptly, they

increase their member’s share capital in multiples of Php 100 by borrowing loans

from BCFCC. Moreover, one-half of the interest of their loans will be automatically

added to their fixed deposit at the end of the payment period, which will increase

their patronage refunds.

BCFCC distributed portion of their income to its members during their

annual membership meeting. The general assembly meeting of BCFCC is held

every last Sunday of March in which the Board of directors and the different

committee reports the performance of the cooperative. [To be collected] 1. What

other products/services that the cooperative offers to its members? 2. How did the

cooperative raise income/circulate the money? 3. How did they incorporate, why

did they choose credit cooperative?

Vision

BCF CC envisions itself to be excellent in providing (SELF-DRIVEN):

“Service quality with

Efficiency in extending

Loans to members and

Finances for mutual aid and assistance in a

Dynamic

Responsive and

Innovative

Venue where

Equitable returns are based on

Needs of members thru COOPERATIVISM”

Mission

It is the mission of BCF CC to create opportunities in (PROMPT)

“Providing credit facilities by

Raising capital from members

Observing financial prudence and

Managing cash in;

Prompting thrift by

Training members toward SELF-RELIANCE in a COOPERATIVE WAY.”

Core Values [To be collected] 1. Core values