In the pursuit of uplifting the economic status of the people of Baleno, the BALENO CHRISTIAN MASAGANA MULTI-PURPOSE COOPERATIVE (BCMMPC) was conceived in 2004. Initiated by Zaldy D. Rapsing, a very eager and innovative farmer and now the head teacher of Canjunday Elementary School, together with the twenty-six born again Christians as pioneer members, the cooperative was formed. Subscribing an Authorized Share Capital of P140,000.00 and a membership subscription capital of P4,000.00 with a minimum paid  up capital  of P1,000.00 for every member, its operation started  with a consumer store at Market Site, Poblacion, Baleno, Masbate selling NFA rice and other prime commodities with an initial capital of P27,000.00 taken from the paid-up capital of the 27 members.  On September 27, of the same year the cooperative was registered with the Cooperative Development Authority under CDA Registration No: NG 3797 and was amended on November 12, 2009 through Republic Act 9520, “THE PHILIPPINE COOPERATIVE CODE OF 2008,” under CDA Registration #: 9520-05002290. As the brain and initiator of the cooperative, Zaldy D. Rapsing served as the very first Chairman of the Board of Directors from September 27 2004 to May 20, 2006 while Norie M. Begornia as Vice Chairman. Ptr.  Juvic V. Desaliza, Ptr. Adolfo C.  Laurio and Ptr. Eugene D. Bonque as members; John Lachica (+) was appointed Secretary and Paz M. Laurio (+) as Treasurer.