Brief History Sacred Heart Savings Cooperative
The Sacred Heart Savings Cooperative was first organized on April 2, 1972 as the Galimuyod Credit Union. A group of 33 parishioners of the Sacred Heart of Jesus Parish in Galimuyod, Ilocos Sur took the initiative to organize a credit union in order to respond to their economic needs. The union started with a capitalization of Php 916.00 and its principal office was located at the Sacred Heart of Jesus Parish rectory. The first set of officers was Mariano Rafael as president, Francis Makil as Vice President, Jose Sabado Jr., as Treasurer, and Lilia Balicdang as Secretary.
On December 18, 1984, the credit union was converted into a Kilusang Bayan pursuant to presidential decree No. 175 and LOI No.23 and was confirmed by the CDA on December 31, 1990.
In June 1997, the coop was converted into a multi-purpose cooperative providing legal basis for its expansion programs like the establishment of the consumers and marketing section.
In 2002, the cooperative took a bold move by yet another amendment to its by-laws changing its name from Galimuyod Multi-Purpose Cooperative to Galimuyod Savings and Development Cooperativve; and expanding its area of operation to the whole province of Ilocos Sur. As an offshoot to the amendment put up its Branch Office in Candon. In February 2007, the Cooperative opened its 2nd branch office located at San Jose, Narvacan, Ilocos Sur. The third branch was put up in San Emilio, Ilocos Sur on March 15, 2009 to serve the communities in the uplands. On July 13, 2010, the name of the Cooperative was changed to Sacred Heart Savings Cooperative as a preparation for its expansion on its area of operation within Region 1 and Abra. On April 1, 2011, a new branch was opened in San Fernando City, La Union. As time passed, its operation expanded and the coop opened more branches: Rosario, La Union (November 2012), Rosales, Pangasinan (June 2013), Tagudin, Ilocos Sur (September 2013), Dagupan City (October 2013), Tayug, Pangasinan (February 2014), Burgos, Ilocos Norte (February 2014), Magsingal, Ilocos Sur (July 2014) and Sta. Catalina, Ilocos Sur (October 2014).
In order to diversify its product and service offerings, the cooperative opened the SHSC Laboratory, Diagnostics, and Medical Clinic on November 26, 2013 to serve members and their families in terms of their health and wellness. Cooprints, a large scale digital printing shop, was opened on June 25, 2014 to cater the printing needs of its members and the cooperative. Coop Bazaar, Coop Events and the Coop Trucking Service were subsequently introduced to the members.
Under the able leadership of the present officers and through the efficiency and diligence of the staff, the coop has become one of the most dynamic cooperative in terms of growth having been awarded by the Cooperative Development Authority as on one of the most outstanding cooperatives in the country (1st place CDA Gawad Parangal Regional Level-Large Scale). Last December 23, 2014, the Cooperative Development Authority – Region 1 proclaimed that the Sacred Heart Savings Cooperative is the First Billionaire Primary Cooperative.
In 2015, the coop was able to open new branches in and outside its turf region. The coop opened branches in the booming municipalities of San Nicolas, Ilocos Norte and Mangatarem, Pangasinan respectively. Outside the Ilocos Region, SHSC has now branch offices in the municipality of Paniqui, Tarlac, Region III and Baguio City, CAR. The SHSC Hog Breeding Farm, a 300-sow level facility came into existence also in 2015.
In January 2016, a new branch was inaugurated in the Science City of Muñoz, Nueva Ecija, Region III.