05 February

100 CU Delegates visit San Jose Koop in the Philippines

  • Date : Friday February 05, 2021
  • Venue :

In collaboration with the Philippine Federation of Credit Cooperatives (PFCCO), ACCU has successfully held the first virtual study visit to San Jose Del Monte Savings and Credit Cooperative or San Jose Koop on February 5, 2021. More than 100 delegates from Asia attended the program. 


San Jose Koop is a community-based financial cooperative owned, led, and used by its members. ACCU has worked with San Jose Koop since 2000 as a pilot credit union on the capacity-building project. ACCU has implemented three projects in the Philippines for 15 years. Since then, San Jose Koop has unprecedented milestones in increasing members, assets, and institutional capital. It now brags an institutional capital of 10% of the total assets. The CEO Carol Dave admitted that San Jose Koop was able to manage the pandemic's impact due to the financial stability measures they have been adopting. According to Carol Dave, the 10% reserve funds serve as a cushion for the economic shocks brought by the pandemic. 


 "As a cooperative, we cannot provide the full answer to global poverty and economic injustices, but we believe that we are certainly part of the answer, as we are part of a movement showing a set of global values and principles. We never forget our commitment to provide excellent services to our members and assure them to strengthen our relations and focus on their needs," assured San Jose Koop's CEO. 


ACCU accredited San Jose Koop with ACCESS Bronze from 2014 to 2019 and Silver in 2019-2020. SJDM cooperative continues to reach out to its members, providing financial assistance such as community development funds as a relief program to financially affected members. 


Besides their regular operation, San Jose Koop also launched SKYLabCoop (San Jose Koop Kiddie and Youth Laboratory Cooperative) in 2019 to promote savings habits for youth ages 6 to 17.  


Amidst the pandemic, San Jose Koop reached 2.65 billion Pesos in total assets (USD 54 million), increasing 6.4% from 2019, and has a net surplus of 85.07 Million Pesos (USD 1.8 million), according to the presentation.


San Jose Koop's loan portfolio at risk is currently 4.4% and expected to decrease in 2021. San Jose Koop's CEO added that the cooperative closely communicates with its members to assist in loan repayment, including offering them moratorium or loan structuring if needed.


 "The call to develop and maintain a management system that can channel the energy, abilities, and knowledge of the cooperative human resources to achieve long-term strategic goals is a continuing one. It is our survival tool in this highly competitive environment." 

- PFCCO Chairperson Atty. Gloria Futalan, in her greeting speech at Virtual Study, Visit San Jose Koop

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