COMPANY PROFILE

History of Baguio Colleges Foundation Credit Cooperative

The (University of the Cordilleras) Baguio Colleges Foundation Credit

Cooperative (BCFCC) was conceptualized as an alternative means of

transmitting funds at BCF (UC) to assist employees who needed money

during contingencies or emergencies.

In organizing the Credit Cooperative, fifteen (15) core members were

required for registration with Cooperative Development Authority or CDA.

The core members became the 15 original incorporators and five of them

emerged as the Board by viva voce to serve as intern officers together

with unanimous appointments made by the Board of Directors of the

following different committees (credit, audit and inventory, election, and

management staff).

The BCFCC was finally registered with CDA-CAR upon submission and

approval of its Economic Survey, Articles of Cooperation and By-Laws. A

certificate or Registration was issued, CEO, No. 608 on August 15, 1996

attesting to the legal existence of BCFCC.

The cooperative was created on June 28, 2012 with 216 members up to

this date, March 24, 2019 (BCDCC, 2020).

Nature of the Business

Cooperatives are independent, self-help organizations controlled

by their members. If they enter into agreements with other organizations,

including governments, or raise capital from external sources, they do so

on terms that ensure self-governing control by their members and

maintaining their cooperative a self-governing state (www.co-oplaw.org,

2020). For business purposes, a cooperative refers to the creation of a

nonprofit enterprise for the benefit of those individuals using its services.

(inc.com/encyclopedia/cooperatives.html) Service cooperatives are a

type of "consumer cooperative" which help to fill a need in the

community. They allow consumers the opportunity to supply their own

needs, gain bargaining power, and share earnings. They are organized to

give members more control over the services that are offered.

(ncdc.unl.edu/typescooperatives.shtml)

VISION

The Vision of BCFCC focuses on being SELF DRIVEN. BCFCC envisions itself

to be excellent in providing

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

The Mission of BCFCC focuses on being PROMPT to create opportunities in

Providing credit facilities by, Raising capital from members Observing

financial prudence and, Managing cash in Promoting thrift by

Training members toward SELF-RELIANCE in a COOPERATIVE WAY.

Members:

Aquino, Alinah

Ayaman, Sue

Ayoong, Norhainie

Cadap, Rona

Esteban, Faith

Libang, Renebhel