SAN FERNANDO CITY, January 10 (PIA) - Jean (not her real name), a member of the Saint Louis Credit Cooperative, recently filed for an emergency loan of P20,000 for her husband who was rushed to the hospital. Aside from her financial needs is his husband’s need for blood.
“We processed her loan and at the same time, processed her request with the Philippine Red Cross for two bags of blood, another two bags with Ilocos Training and Regional Medical Center (ITRMC) and we shared with the rest of the members her request for possible donors, luckily, two members responded,” General Manager Junel Faye Paned of SLCC said.
She added, “Our objective of customer satisfaction is providing timely services for our members, during the time they needed it most and this includes the concern and emotional boost they need.”
SLCC, a duly registered coop based in Lingsat, San Fernando City, is not only an institution that provides credit and grants loans to members for providential and productive purposes but also it does more by treating its members as a family as well.
In 2015, SLCC had a total membership of 1,022 and the management is happy that they are growing. They believe that they are a vehicle of transformation in the achievement of total human development.
“We hope to continue helping those with meager source of income, so we can contribute to economic development and they too can help themselves. Some of our members are also micro, small and medium enterprises availing ourselves to finance and improve their business,” Paned said.
Cooperatives are institutions that are owned, managed, controlled and patronized by the members. Whatever the benefits of the cooperative, it must be divided among the members in accordance to their patronage, in contrast to corporations wherein their profits go to the owners.
SLCC attained its millionaire status in 1987 with total assets amounting to P1,158, 059.67. Twenty-seven members composed of faculty and students of Saint Louis College established the cooperative in 1981.
At present, their assets include a three-storey building in Lingsat, San Fernando City. The first floor houses their consumer cooperative and a water refilling station while the third floor is being leased to a private organization. The SLCC office is located at the second level.
Among their extension activities include tree-planting, scholarship assistance to select students, and donation to Super Typhoon Yolanda victims.
The SLCC was recognized as one of the top 15 best performing cooperatives in Ilocos region last year, providing savings and credit services to its members.
According to Cooperative Development Authority, there are 25,611 registered cooperatives nationwide with 14 million active members. (Joanna Diaz Sabado/JNPD/JDS/PIA-1, La Union)