Water service cooperative

Raul Ilogon

I WAS at Limketkai Mall on Sunday neither to shop nor to take refuge from the summer heat. Instead of spending, I became a few thousands of pesos richer when I left the mall four hours later.

I’m one of the owners of a billionaire coop and like the thousands of owner-members who flocked to Limketkai Atrium, I was there for the annual general membership meeting of Ficco — and, of course, for our much awaited dividend.

Ficco is recognized as one of the most successful and the biggest community cooperatives with 80 branches spread all over the Philippines. That’s a long way for a school-based credit union, Ateneo Credit Union, organized in 1954 by the late Fr. William Masterson of Xavier University. In 1970 it opened itself to Cagayan de Oro and eventuality changed its name to First Community Cooperative or Ficco. From an initial member contribution of P27.30, Ficco is now a billionaire coop with P1.575 billion in assets.

Credit and commendation for its success goes to the board of directors, committee officers, volunteers, management and staff (past and present) for the exceptional dedication and commitment to the principles of the cooperative.

Kudos to energetic and approachable CEO Ed Micayabas. The management people and their staff are likewise approachable with ready smiles and ready-to-assist you attitude.Truly, Ficco is member service-oriented.

Like in the many general membership meetings in the past, I was there for my dividend and updates. Little did I know that I was in for a surprise. Ficco, together with other coops, is taking the lead in developing a water service cooperative.

The feasibility study and blueprints are done, and groundworks would follow soon. Initially, it would start serving the area of Bulua and Opol.

The water system is nothing new to me. In my prime, I worked as a sales engineer for the oldest trading American company in the Philippines. We were not only selling deep well and turbine pumps to big water districts but we also provided technical services as well. Engineers at COWD would joke that they will no longer buy pumps from us because of losses due to leaking faucets. Sadly, when the father of COWD, Engr. Ernie San Juan, died, the abundant and strong water pressure died with him, too. So when a motion was raised for approval to allocate P250 million for the development of our water system, I was one of the thousands who voted unanimously for its approval.