LINGAYEN CATHOLIC CREDIT COOPERATIVE Epiphany of Our Lord Parish Compound Lingayen, Pangasinan LINGAYEN CATHOLIC CREDIT COOPERATIVE ITS HISTORY/GROWTH The Lingayen Catholic Organizations Cooperative Credit Union, Inc. later renamed as the Lingayen Catholic Credit Cooperative (LCCrC) was organized on July 12, 1964 by 29 members of religious organizations led by the late Grand Knight, Atty. Luis Sison with Miss Salud Puzon as the treasurer under the spiritual guidance of the late Rev. Dermot Feenny. On September 28 of the same year, it was registered with an initial capital of P 619. The cooperative was formally registered under R.A 2023 on May 15, 1986 and re-registered as a full-fledged cooperative under P.D. 175, LOI No. 23 on July 12, 1986. Its registration was confirmed by CDA with Confirmation No. 798. LCCrC was originally organized to help primarily the members of the Catholic religious organizations of the Three Kings Co-Cathedral Parish now, the Epiphany of Our Lord Parish of Lingayen, Pangasinan, but because of its commitment to development, it has expanded its membership to include other religious sects from all walks of life not only in the municipality of Lingayen but also other towns of Pangasinan. Upon experiencing however, the difficulty of contacting delinquent borrowers from far-flung towns, ourCoop limited its service to the surrounding towns of Lingayen namely, Binmaley,Bugallon, Aguilar, Sual and Labrador. During the early days of our cooperative, when funds were not enough forborrowers, the treasurer used to go around the members of the Board of Directors andappealed for additional deposits, thus encouraging the savings attitude of the BOD’s andyet increasing capital-build up. One remarkable thing to mentions about our coop is thefact that for 18 years of operation, our officers and staff did not receive any remunerationat all, but everything charged to commitment.
The success and growth of our cooperative is due to the joint efforts of itsofficers, staff and members and never due to financial support or assistance from otherlending institutions. This is one unique feature of our coop that it has not availed of anyloan assistance from the government or private sector since its start in 1964 and evenduring its low moments. Rather, it has been depending on its own funds and resources foroperation. It was in 1986 when LCCrC registered its first million mark in assets in theamount of P1,828,776.00. Now, in line with the cooperative policy of helping sistercooperatives financially, our coop has been making investments with some cooperatives. Since its operation LCCrC engages in numerous programs, projects andundertakings some of which are as follows: 1. Offers many benefits to members such as: a. Different kinds of loans – regular, petty cash, appliance, tricycle, pedicab, calamity, housing etc. b. Low loan interest c. Gives medical aid of P2,000.00 as maximum amount once a year to hospitalize members. d. Through the Damayan Aid System, mortuary aid of more or less P70,000.00 is given to beneficiaries of deceased members regardless of the amount of fixed deposit and length of membership members have. 2. Has constructed 45 public elementary school buildings in Pangasinan through the Presidential Management Staff during the administration of President Corazon Aquino. 2
3. Has put up 3 shallow wells, 8 deep wells and 1 spring rehabilitation in remote and depressed barangays of Pangasinan through the Presidential Management Staff under President Fidel V. Ramos. 4. Co-partner with our Local Government in its commitment to the upliftment of the socio-economic welfare of the people in the community. 5. “ Scholarship for Indigent Elementary Pupils” SIEP, program with 400 scholars coming from the different public elementary schools of Lingayen whose parents are members or non-members of our coop. Each scholar is given 2 sets of school uniform, school bags, notebooks, pad paper, ball pens, umbrella, etc. all amounting to P500.00. 6. “Share a Christmas Meal Program” – offered to family heads who are members or non-members of our cooperative every Dec. 24 of the year, consisting of a kilo of pork, with all its ingredients for “pochero”. 7. Two subdivisions, 1 at Ramos St., Lingayen and the other at Libsong East in Lingayen too, all lots sold on installment basis to members who have no lot of their own to build their houses. 8. Cooperative Education Always striving to actualize the coop principle of continuous coop education, LCCrC maintains its conduct of Pre-membership Seminar every Saturday morning to interested persons who wish to be members. Throughout the year too, our coop continuous to upgrade and provide better quality service of officers and staff by sending them to cooperative seminars, workshops and conferences. 9. Has given financial support to the renovation of the Student Chapel and of the Parish Training Center. Year in and year out, other cooperatives come to visit our coop to see how wemanage and operate our cooperative. Sometimes our officers are invited as resourcespeakers at local cooperative seminars and at other times, they are invited to helporganize new cooperatives. Different awards – local as well as national are being received by our cooperativeyearly. As a matter of fact, LCCrC garnered the place as First Runner-Up in the 1998National Search for the Most Outstanding Credit Cooperative sponsored by the CDA,and, as the Most Outstanding Credit Cooperative-Community Type in the 2000 NationalSearch. The closing of the year 1999 gave us, Filipinos a little panic over the so-called“Y2K” or the “Millennium Bug.” Depositors who were not well informed on the effect ofthe Bug withdrew their money in the banks on their fear that their money might get lost.The Lingayen Catholic Credit Cooperative was not spared. However, after learning thatY2K bug does not affect the banking industry the few depositors who withdrew theirmoney in our cooperative, started to return their money. 3
With all the achievements our coop has, we do not deny the fact that we are alsoencountering problems and difficulties. For solution to such problems/difficulties, we trypossible means to solve each problem and if in case they don’t work we try another. The status of LCCrC, as one of the multi-millionaire cooperative or one of thefew Century Cooperatives in the country and one of the awarded cooperatives in ourcountry too, could have not been possible, without the blessings of our Almighty God,coupled with effective policies and programs of the Board of Directors, the unselfishdedication of the Committee Officers, the untiring efforts of the staff in the properimplementation of all coop policies and programs as well as the undying support of allthe members. Many things had been accomplished by our cooperative for the previous years andmany more are expected for the coming years with the cooperation of all concerned. Prepared by: LCCrC Officers and Staff 4