Brief History Of The Sacred Heart Savings Cooperative
Brief History Of the 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 or so parishioners of the Sacred Heart of Jesus Parish in Galimuyod, Ilocos Sur took the initiative to organize as a credit union in order to respond to their needs in their economic life. The church leaders believed that the church does not only promote the spiritual upliftment of the parishioners but must also improve their economic Status. Hence, Fr.Edmundo Abaya, the Parish Priest, gave his full support to the movement. The union started with a capitalization of P916 and its principal office was located at the Sacred Heart of Jesus Parish rectory. The first set of officers were Mariano Rafael as president, Francis Makil as Vice President, Jose Sabado Jr., as Treasurer, and Lilia Balicdang as Secretary.
At the onset, the operation went smoothly and membership gradually increased. For one reason or another, the operation lagged and stagnated for several years. Members refused to cooperate with their officers and stopped paying their loans. But somehow, despite all the setbacks, there were a handful members who persevered in keeping the cooperative alive. Although gasping for breath, it is alive nevertheless. Through the insistent prodding of Land Bank personnel, the officers were convinced to hire a bookkeeper who single handedly set the records straight providing a sense of order to the chaotic mess of records left by the previous officers. This improvement paved the way fir the hiring of a manager to run the resuscitation of the cooperative.
Since then, the cooperative never looked back. A sense of direction was brought about by the youthful manager and eventually, people started coming in. Old members renewed their commitment and new ones sought membership. Assistance from external sources poured in kicking off a meteoric rise in all aspect of coop development. Total Assets soared sky high; membership ballooned, and income more than doubled.
On December 18, 1984, the credit union was converted into a Kilusang Bayan with the name Galimuyod Credit Cooperative, pursuant to presidential decree no. 175 and LOI No. 23 and was confirmed by the CDA on December 31, 1990.
After more than 30 years of providing service to the members, the cooperative felt the need to widen its range of services in order to answer the needs of its members. Hence in June 1997, the coop was converted into a multi-purpose cooperative, assuming its new name, Galimuyod Multi-Purpose Cooperative, providing legal basis for its expansion programs like the establishment of the consumers and marketing section.
In the year 1998, in testimony of the exemplary progress attained by the Cooperative, it was declared regional winner in the GAWAD PITAK awarded by Land Bank of the Philippines. As an affirmation of the commendation received, the Cooperative Development Authority awarded the Cooperative as the second Most Outstanding Cooperative - national level – in the search for most outstanding cooperatives in 1999.
Still wanting to widen its horizon and intensify its service to the public, 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 Cooperative; and expanding its area of operation which now covers the whole province of Ilocos Sur. Such amendment was approved and registered with the Cooperative Development Authority on October 28, 2002. As an offshoot to the amendment, the Cooperative put up its Branch Office in Candon located at the De Leon Bldg,, Abaya St. Brgy San Isidro. It was the first primary cooperative to establish a branch office in the whole of Region I as certified by the Cooperative Development Authority. Gradually, the branch office is poised to become one of the biggest and most significant establishment in the commercial center of the 2nd District of Ilocos Sur.
In February of this year- 2007, the Cooperative opened its 2nd branch office located at San Jose, Narvacan, Ilocos Sur, to bring the services of the Cooperative closer to the community where it operates and now gaining impetus in terms of growth. Another branch was put up in Cabaroan, San Emilio, Ilocos Sur to serve the people in the hinterlands.
In July 2010, the name was again changed to Sacred Heart Savings Cooperative in preparation to the expansion in La Union. The officers strongly believed that the new name is more universal in nature and thus would be easier to introduce to the prospective members. Moreover, the change of name was in recognition of the contribution of the Sacred Heart of Jesus Parish in Galimuyod, Ilocos Sur whose pioneering effort gave birth to the cooperative as it is today. Thus, on April 2011, the first branch in La Union was opened in San Fernando City. On November 2012, the latest branch office was opened in Rosario, La Union.
Having penetrated the province of La Union, Pangasinan was eyed next as area of expansion. Thus on June 10, 2013, the first branch in province was opened in Carmen, Rosales, Pangasinan.
Meanwhile, on September 30, 2013, SHSC opened its 5th branch in the province of Ilocos Sur in the town of Tagudin. A string of days after, SHSC-DAGUPAN was inaugurated as a follow-up expansion strategy within the vast province of Pangasinan.
2014 was started with full optimism with the opening of Tayug branch, on February 3, 2014. And lastly, February 10, SHSC began moving further North via expansion in the municipality of Burgos, Ilocos Norte.
At present, the Sacred Heart Savings Cooperative has grown into a 700 million peso entity and with a total membership of around 23,000 with a capitalization of over Eighty Million Pesos.
Recently, the Cooperative was declared as the Regional Winner in the Gawad Parangal of the Cooperative Development Authority.
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 CDA and Land Bank as one of the most outstanding cooperatives in the country.
Considered as one of SHSC’s flagship projects, through the coop’s Business Enterprise Department and in partnership with Mydee Trading, the cooperative has entered the print and publishing services industry. Cooprints, a SHSC-owned and managed large-scale printing shop, was inaugurated on June 25, 2014. Situated on a prime location along the National Highway, Cleofel Complex, San Jose, Candon City, Ilocos Sur, Cooprints offers affordable tarpaulin and large format printing; personalized printing for souvenir items and party needs, business and office forms; and other advertising and publicity materials. Actress/Zumba goddess Ms. Regine Tolentino and Bishop William David Antonio were in attendance as main guests during the said opening.
Fortifying its status in Ilocos Sur, SHSC opened its first branch in the 1st District of the province on July 28, 2014. The branch aims to service the towns of Magsingal, Sto. Domingo, San Ildefonso, San Juan, Cabugao and Sinait. . SHSC-Magsingal, located in Brgy. San Ramon, is the 13thbranch including the Healthcare Clinic and Cooprints.
On October 22, 2014, SHSC opened a branch in Sta. Catalina, Ilocos Sur. The said fortifies the presence of SHSC in the 1st district of Ilocos Sur.
Added the expanding arrays of services are: e-Fly, an online ticket reservation service, was first offered in 2014 in partnership with NATCCO, and as SSS Partner Agent which began late 2014.
To be able to transact with minors, SHSC founded a Laboratory Cooperative in December 4, 2013 for its youth depositors. The Aflatoun Youth Savers Program launched on October 2014, again in partnership with NATCCO, is the pioneer program under this venture. Aflatoun is an international affliation of kids worldwide.
The Coop Bazaar and the Coop Events, under the Business Enterprise Department, came into existence in February 2015.
On the same month, SHSC opened its 2nd branch in Ilocos Norte. February 9—a branch was opened in the bustling town of San Nicolas. On March 9, another branch was opened in Pangasinan—in Mangatarem, the province’s largest municipality.
The Coop Trucking Service finally came into being when the Coop purchased a JAC delivery truck. To date, aside from the truck delivery, an L300 delivery van is also for hire.
With the aim of expanding outside Ilocos Region, SHSC finally decided to open a branch in the booming municipality of Paniqui, Tarlac. And just over a month, the first SHSC branch in the Cordillera was born. SHSC-Baguio opened on June 15, 2015 and is situated along Bokawkan Road. Members, mostly vegetable and cut flower growers and vendors, are form as far as the municipalities of Atok (Philippine Highway Highest Point) and Bokod, Benguet (near the famd Ambuklao Dam).
SHSC Breeding Farm is a 300-sow level facility located in Brgy. Daldagan, Galimuyod, Ilocos Sur. Its land development and building construction began in April and August 2015. It is expected to produce piglets for dispersion to coop members’ first half of 2016.