It all started with “Bayanihan” (cooperation) and the belief to enrich the lives of people through the works and deeds of a Cooperative Movement.
To encourage spirit of cooperation and to support financial needs of its members, 25 employees from the weaving department of the Universal Textile Manufacturing Company (known as UTEX) established an informal savings organization called C & K Savings Association (1972-1985):
On 16 December 1985, the association transformed to C & K Barangka Community Credit Cooperative, Inc. with an objective to strengthen its savings mobilization program for its members.
Eventually, the founders made a big stride to improve its performance and amended its name to UTEX Employees Credit Cooperative, Inc. (UECCI) on August 11, 1986. The 37 founders led by Roberto Mascariña pooled their own resources which totaled to ₱5,300.00 to become their start-up capital.
However, in March of 1994, the most excruciating blow happened to UECCI. The UTEX company, where all the founders and members were employed, folded up and ceased its operations. The Cooperative failed to maintain its collection targets due to members’ inability to pay their debts. In addition, some members immediately left and moved from one place to another. But UECCI did not succumb to these problems. The Cooperative made ways to convince and encourage its members to settle their debts by encashing their separation checks directly to the Cooperative. The Cooperative provided additional incentives to those who availed themselves of its financial services. To further ensure UECCI’s viability, the officers and the management team developed and implemented their “do or die” tactics focused on regaining payments and the trust of the members.
From this point on, the members and officers agreed to convert UECCI into a community-based cooperative that can operate within the municipality of Marikina and accommodate people from the community.
Simultaneous with the conversion, the remaining founding officers and members proposed to amend the name of the cooperative to BARANGKA CREDIT COOPERATIVE (BCC).
Today, BCC is one of the billionaire cooperatives in the Philippines. It continue to strive to be at the forefront, beating the odds of poverty in the community and making a valuable impact to the lives of its members.
For the leaders of BCC, profit alone is not the most definitive indicator of success but being able to impart and share the triumphs of the cooperative to a greater number of people.
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