Sacred Heart Savings Cooperative, Candon City, Region 1 Philippines

SACRED

HEART

SAVINGS

COOPERATIVE

Reg. No. 9520-01004061,CIN 102010222

PROFILE OF COOPERATIVE:

Year Established: 1972

Year Registered : 1984

VISION STATEMENT

A strong cooperative that

propels community

development.

MISSION STATEMENT

To uplift the living condition of the

people by providing sound

financial services and promoting

values and solidarity among

members.

CORE VALUES

Integrity -To work in all honesty and uprightness for the common good.

Professionalism-To deliver services to members efficiently and

effectively

Innovation-To continually effect new and novel programs to

keep abreast with the changing times.

Discipline-To uphold the Code of Ethics in the performance of our tasks.

Teamwork-To work together as one big family.

Social Responsibility-To foster a culture of service while doing

business.

Contact Person:

Contact Numbers:

Phone : (077) 742-6528; (077) 644-0529

Fax No. : (077) 742-6404

E-mail Address: [email protected]

Jaime D. Gaboy Jr. CEO

mailto:[email protected]

HISTORY The Sacred Heart Savings

Cooperative was 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

as a credit union. Fr. Edmundo Abaya,

the Parish Priest, gave his full support to

the movement. The union started with a

capitalization of P916.00 and its principal

office was located at the Sacred Heart of

Jesus Parish rectory.

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, with the name

Galimuyod Credit Cooperative. Later, in June 1997, the coop was

converted into a multi-purpose cooperative providing legal basis for its

expansion programs.

Another

amendment was made

to its by-laws changing

its name from

Galimuyod Multi-

Purpose Cooperative to

Galimuyod Savings

and Development

Cooperative On

October 28, 2002 and

expanding its area of

operation to the whole

province of Ilocos Sur.

HISTORY

As an offshoot to the amendment, the Cooperative put up its

Branch Office in Candon located at the De Leon Building, Abaya St.

Brgy. San Isidro, in July 2003. And it was recognized as the first

cooperative to establish a branch in region I.

HISTORY

In February

2007, the Cooperative

opened its 2nd branch

office located at San

Jose, Narvacan, Ilocos

Sur.

HISTORY

A third

branch was put up in

San Emilio, Ilocos

Sur on March 15,

2009 to serve the

communities in the

uplands.

HISTORY

HISTORY

The name of

the Cooperative was

changed to Sacred

Heart Savings

Cooperative to

prepare the

cooperative on its

expansion outside

Ilocos Sur On July

13, 2010.

Thus, On April 12,

2011, the Cooperative

expanded its operation to

San Fernando City, La

Union. It was then its entry

point to open its operation

to other places.

HISTORY

Recently,

another branch

was then opened

to Rosario, La

Union on

November 5,

2012.

HISTORY

40th years in existence with an array of services as multi purpose

cooperative;

From 33 member in 1972 to 11, 562 in 2012;

1998 Regional Winner in the Gawad Pitak awarded by Land Bank of

the Philippines;

1999 2nd CDA Most Outstanding Cooperative National Level;

From the Municipality of Galimuyod, Ilocos Sur, the cooperative has

expanded its area of operation to the whole of Region I and Abra

allowing to reach out to more number of marginalized people;

Established six branches namely: Galimuyod Branch, Candon Branch,

Narvacan Branch, San Emilio Branch, San Fernando City, La Union

and Rosario, La Union Branch. All the branches were refurbished to

have a good ambiance and make the office attractive to members and

to the public.

SIGNIFICANT ACHIEVEMENTS/MILESTONES OF THE COOPERATIVE:

For its financial highlight, Sacred Heart Savings Cooperative has a total

assets of P 376,292,786.19; Total liabilities 324,151,114.32; Net Worth

P 52,141,671.87; Paid Up Share Capital of P 45,137,652.77 and Net

Surplus of P 6,111,570.21;

Founding member and strong alliance of Nueva Segovia Consortium

of Cooperatives (NSSC);

Active members to National Confederation of Cooperatives, (NATCCO),

Metro South Cooperative Bank, Ilocos Sur Cooperative Bank;

Cooperative Insurance System of the Philippines (CISP) , and

Cooperative Life Insurance Mutual Benefit System (CLIMBS) and

Northern Luzon Cooperative Development Center (NORLU);

Constructed a Cooperative Business Center along Morales St., San

Isidro, Candon City worth P 13.2 Million;

103 personnel complement;


Installation of Management Information System called KoopCAS. The

system can process transactions faster, making members more

satisfied with the services offered to them;

Installation of ATM in Narvacan Branch.

Adopted new approaches and techniques in managing loan portfolio

by having a new credit operations manual;

Development of employees is also embodied in the new HR

Management manual; and

Provided health care services to members in terms of unlimited

medical check ups, laboratory and diagnostics, hospitalization

allowance maximum of P 15,000,P 10,000.00 for surgical per year in

partnership with Integrated Management Services . (IMS)


BRANCHES:

- 1st Branch Office: July 2003 (CANDON)

Address: Morales St., San Isidro, Candon City, Ilocos Sur

- 2nd Branch Office: February 2007 (NARVACAN)

Address: Santa Lucia, Narvacan, Ilocos Sur

- 3rd Branch Office: March 2009 (SAN EMILIO)

Address: Cabaroan, San Emilio, Ilocos Sur

- 4th Branch Office: April 12, 2011 (SAN FERNANDO)

Address: Brgy II, San Fernando, La Union

- 5th Branch Office: November 5, 2012 (ROSARIO)

Address: Friendship Commercial Bldg., Rosario, La Union

BRANCHES

(As of 12-31-2012) (As of 12-31-2011) (Increase)

Total Assets 376,292,786.19 - 232,267,046.77 = 144,025,739.42

Loan Portfolio 281,199,370.14 - 176,106,688.63 = 105,092,681.51

Share Capital 45,137,652.77 - 27,649,436.87 = 17,488,215.90

Total Deposits 221,130,632.73 - 132,444,608.52 = 88,686,024.21

Total Investments 4,513,213.13 - 2,803,124.28 = 1,705,088.85

Net Worth 52,141,671.87 - 33,462,354.01 = 18,679,317.86

Gross Income 53,732,882.86 - 43,038,076.71 = 10,694,805.55

Net Surplus 6,111,570.21 - 4,378,722.67 = 1,732,847.54

Number of Members 11,562 - 7142 = 4420

Organizational Profile

119,127,253.92

145,707,783.80

190,351,831.21

232,159,763.66

376,292,786.19

0.00

50,000,000.00

100,000,000.00

150,000,000.00

200,000,000.00

250,000,000.00

300,000,000.00

350,000,000.00

400,000,000.00

Total Assets

2008 2009 2010 2011 2012

87,550,073.48

110,987,219.40

153,260,927.64

175,999,405.52

281,199,370.14

0.00

50,000,000.00

100,000,000.00

150,000,000.00

200,000,000.00

250,000,000.00

300,000,000.00

Loans Receivables

2008 2009 2010 2011 2012

14,468,570.69

16,987,140.53

21,862,859.05

27,649,436.87

45,137,652.77

0.00

5,000,000.00

10,000,000.00

15,000,000.00

20,000,000.00

25,000,000.00

30,000,000.00

35,000,000.00

40,000,000.00

45,000,000.00

50,000,000.00

Paid-Up Share Capital

2008 2009 2010 2011 2012

2,159,955.88

2,476,057.37

3,004,657.72

4,378,722.67

6,111,570.21

0.00

1,000,000.00

2,000,000.00

3,000,000.00

4,000,000.00

5,000,000.00

6,000,000.00

7,000,000.00

Net Surplus

2008 2009 2010 2011 2012

SARANAY SAVINGS

• Interest Rate: 2%

• Maintaining Balance: P500.00

• Exclusively for saranay contributions only

• Time Deposit

TIME

DEPOSIT 3 mos. 6 mos. 9 mos. 12 mos.

10,000 to

99,999.99 7%p.a. 8%p.a. 9%p.a. 10%p.a.

100,000.00

and above 11%p.a 12%p.a. 13%p.a. 14%p.a.

SAVINGS PRODUCTS

LOAN PRODUCTS I- MICRO-FINANCE LOANS

A. Micro-finance (Business)

For small entrepreneurs who want to start their own business or improve their existing ones.

B. Micro-finance (Agricultural)

For farmers who want to engage in livelihood projects or

to finance their crop production costs.

LOAN PRODUCTS II. REGULAR LOANS

A. Business Loans For small and medium enterprises.

B. Agricultural Loans For farmers who want to finance

crop production, acquire farm implements or equipment, farm inputs, agricultural facilities.

LOAN PRODUCTS

C. Multi-Purpose Loans

For non-productive purposes

like house repair,

medical expenses,

educational expenses,

acquisition of appliances,

placement fees for abroad.

LOAN PRODUCTS III. Emergency Loan -for emergency expenses.

Amount: 5,000.00

Interest: 2%

Service Fee: 3%

Term: One (1) month only

IV. Jewelry Loan -pawn your jewelry for instant cash.

Charges: Interest - 1.5%

Service Fee - 1.5% 3%

Term: One Month Only

No. of years as member Amount of benefit

0 - 3 years 40,000.00

3 yrs. & 1 day - 6 years 70,000.00

6 yrs. & 1 day - 9 years 100,000.00

9 yrs. & 1 day - 12 years 130,000.00

12 yrs. & 1 day - 15 years 160,000.00

15 years and above 200,000.00

IV-Cooperative Health Care Program

Benefits:

- unlimited medical check-up

- Unlimited laboratory services and unlimited Diagnostic Procedures (X-ray, Ultrasound, ECG)

- hospitalization allowance of 15,000.00 per year

- surgical allowance up to 10,000.00 per year.

Officers and

Staff

MEMBERS OF THE BOARD

Benedicto B. Aquino CHAIRMAN

Marieta M. Saulan DIRECTOR

Mariano B. Rafael VICE CHAIRMAN

Abner E. Guilambo DIRECTOR

Guillermo B. Salibad DIRECTOR

Jaime D. Gaboy Jr. CEO

Bibiana U. Dumawa DIRECTOR

Romulo U. Sabongey DIRECTOR

Rey F. Tanglib SECRETARY

Committees

Credit Committee:

Benedicto B. Aquino

Chairman

Mariano B. Rafael

Member

Jaime D. Gaboy Jr.

Member

Audit Committee:

Emelinda V. Gorospe

Chairperson

Miriam P. Udayan

Member

Elliseo R. Lagasca

Member

Education Committee:

Mariano B. Rafael

Chairman

Rey F. Tanglib

Member

Jaime D. Gaboy Jr.

Member

Election Committee:

Josie M. Gabaon

Chairman

Imelda Alfonso

Member

Ronald R. Udayan

Member

HEAD OFFICE PERSONNEL

Jaime D. Gaboy Jr. Chief Executive Officer

VICTORIA A. GUILAMBO

Actg. Dept. Head

ROBERTO M. UMALOS Operations Dept. Head

REY F. TANGLIB

HR Dept. Head

JIMSON G. DAGSI

IT Dept. Head

CLAUDETTE S. MENDOZA

Treasury Dept. Head

MARIA THERESA G. VALDEZ

Compliance Dept. Head

Randy T. Tabuyo

Candon

Jaime D. Galanta Jr.

Narvacan

BRANCH MANAGERS

Garry A. Tan Rosario

Dennis V. Gagarin Galimuyod

Veronica C. Peralta San Fernando

. Leonides G. Sapioc San Emilio

COOPERATIVE HEALTHCARE CLINIC AND LABORATORY





In partnership with the Integrated Management Services, Inc., the

Sacred Heart Savings Cooperative conducted a Medical-Dental Mission on

November 30, 2010 at the Galimuyod Gymnasium intended for members of

the Cooperative.

MEDICAL-DENTAL MISSION

MEDICAL-DENTAL MISSION

The event was made even more

successful by the selfless participation

of the Doctors, Dentists and Nurses

who volunteered their services to tend

to the patients who turned up for the

event. Medicines were also made

available to them.

FEEDING PROGRAM: The

cooperative has

taken upon itself to

give back to the

community the good

blessings it has been

garnering through

the participation of

members for the last

several years and in

line with its core

value of social

responsibility and

community building,

a feeding program

has been launched

for a number of day

care centers in the

municipality of

Galimuyod..

It was started with 3 initial

daycare centers. The program

was officially launched in

barangay Oaig-Daya daycare

center with 8 recipients.

Calimugtong daycare center has

23 recipients and barangay

Nagsingcaoan day care center

with 15 recipients for a total of

46 initial recipients. The feeding

program will be brought to other

day care centers not only in

Galimuyod but in other

municipalities as well.

FEEDING PROGRAM:

ENVIRONMENT PROTECTION

In adherence to the worldwide call on environmental concern, the

staff of the Sacred Heart Savings cooperative conducted a tree planting

activity to conclude the ground breaking ceremony for the new office

building in Candon City.

The tree plating activity was held at the coop lot in Poblacion,

Galimuyod, Ilocos Sur on July 10, 2010.

ENVIRONMENT PROTECTION

COOP-NATCCO CAMPAIGN

COOP-NATCCO CAMPAIGN

ANNUAL GENERAL ASSEMBLY



As part the program, different parlor games are being played by the members

facilitated by the staff to make the program lively. Freebies were given to

members through a raffle draw.

Different presentations of the members were being performed and considered as

a contest.

Yearly Christmas gift such as ham, cakes, basket of fruits and bags

were distributed to officers and staff.

Team work is being practiced through playing the different parlor games.

The staff could show their talents on their presentations.

The way they dress make their presentation more attractive .

Different trainings for staff were set and provided to make them more competitive.

As an activity for the community, the cooperative participated

during fiestas by initiating Mutya ti Kooperatiba..

GALIMUYOD TOWN FIESTA INTER-AGENCY BASKETBALL TOURNAMENT

The cooperative also joined various tournaments. This showed their team work,

flexibility and sportsmanship.



2010 5th CDA Most Distinguished Award for Cooperatives

(Regional Level)

AWARDS AND RECOGNITIONS

AWARDS AND RECOGNITION


2007 CDA 3rd Cooperative of the Year Awardee

(Provincial Level)


2003 PCFC Awardee on High

Collection Rate and Low Past Due Rate


2003 Awardee for Achieving the International Standard for DOSRI

Delinquency of 0% PAR

Economy & Finance

Sacred Heart Savings Cooperative, Candon City, Region 1 Philippines