The cooperative started in 1982 as a community organization named as “Samahang Nayon,” organized by prominent residents of Barangay Toclong, in support to the program of Department of Agriculture. The organization started with only P5.00 per month for their initial capital. After three years (1985), the group decided to convert the organization into a formal cooperative under the name Toclong 1st Credit Cooperative. In 1994, the cooperative was registered with the Cooperative Development Authority as a Multi-Purpose Cooperative. Being multi-purpose, the cooperative was able to expand to other business ventures besides offering savings and lending services to its members.