The Sacred Heart Savings Cooperative was established in 1972 in Galimuyod, Ilocos Sur and has since expanded to over 150 cities/municipalities across 8 provinces. It has over 34,000 members and 25 branches offering savings products, loans for agriculture, business, and other needs, and additional services like printing, events, remittance, and insurance. Under strong leadership, the cooperative has grown to over 1.4 billion in assets and become one of the largest and most awarded cooperatives in the Philippines.

1. COOPERATIVE PROFILE
Name of Cooperative : SACRED HEART SAVINGS COOPERATIVE
Address : Poblacion, Galimuyod, Ilocos Sur Tel. No. : (077) 742-6404
(077) 644-0529
Contact Person : Jaime Dongalen Gaboy, Jr. Contact No. : +639175683228
Address : Rubio, Galimuyod, Ilocos Sur
Date Established : April 2, 1972
CDA Re-Registration Date : December 7, 2009
& Number : 9520-01004061
Tax Identification Number : 263-534-145
SSS No. : 01-1276553-4
Company type : Cooperative
Nature of Business : Multipurpose
Years Existed : 43 years
BRIEF HISTORY:
The Sacred Heart Savings Cooperative was first organized on April 2, 1972 as the
Galimuyod Credit Union. A group of 33 or so parishioners of the Sacred Heart of Jesus Parish in
Galimuyod, Ilocos Sur took the initiative to organize as a credit union in order to respond to their
needs in their economic life. The union started with a capitalization of P916 and its principal
office was located at the Sacred Heart of Jesus Parish rectory. The first set of officers was
Mariano Rafael as president, Francis Makil as Vice President, Jose Sabado Jr., as Treasurer, and
Lilia Balicdang as Secretary.
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.
In June 1997, the coop was converted into a multi-purpose cooperative providing legal
basis for its expansion programs like the establishment of the consumers and marketing section.
In 2002, the Cooperative took a bold move by yet another amendment to its by-laws
changing its name from Galimuyod Multi-Purpose Cooperative to Galimuyod Savings and
Development Cooperative; and expanding its area of operation to the whole province of Ilocos
Sur. As an offshoot to the amendment, the Cooperative put up its Branch Office in Candon. In
February 2007, the Cooperative opened its 2nd branch office located at San Jose, Narvacan,
Ilocos Sur. A third branch was put up in San Emilio, Ilocos Sur on March 15, 2009 to serve the
communities in the uplands. On July 13, 2010, the name of the Cooperative was changed to
Sacred Heart Savings Cooperative as a preparation for its expansion on its area of operation
within Region and Abra. On the 12th day of April 2011, a new branch was opened at San
Fernando City in La Union. As time passed, its operation expanded and opened twelve (12) more
branches.
Under its Business Enterprise Department, the cooperative opened the SHSC Laboratory,
Diagnostics, and Medical Clinic last November 26, 2013 to serve members and non-members in
terms of their health. Cooprints, a large scale digital printing shop, was opened last June 25, 2014

2. to give printing services for members. Coop Bazaar and Coop Events were also introduced to the
members
Under the able leadership of the present officers and through the efficiency and diligence of
the staff, the coop has become one of the most dynamic cooperative in terms of growth having
been awarded by the Cooperative Development Authority as one of the most outstanding
cooperatives in the country (1st place CDA Gawad Parangal Regional Level-Large Scale). Last
December 23, 2014, the Cooperative Development Authority – Region I proclaimed that the
Sacred Heart Savings Cooperative is the First Billionaire Primary Cooperative.
VISION
A leading cooperative in the country that propels community development in its area of
operation
MISSION
To provide a complete package of integrated services in building members’ lives
CORE VALUES
 Teamwork – to work together as one big family
 Integrity – to work in all honesty and uprightness for the common goal
 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
 Social Responsibility – to foster a culture of service while doing business
BRANCHES:
Galimuyod : Poblacion, Galimuyod, Ilocos Sur
Tel. No. (077) 742-6827
Candon City : Morales St., San Isidro, Candon City, Ilocos Sur
Tel. No. (077) 742-6404
Narvacan : Sta. Lucia, Narvacan, Ilocos Sur
(0922) 879 4395
San Emilio Cabaroan, San Emilio, Ilocos Sur
(0917) 508 8128
San Fernando
City
: Diocesan Bldg., P. Gomez St., Brgy. II, San Fernando City, La Union
(072) 607-1871
Rosario : Friendship Bldg., Tay-ac, Rosario, La Union
(072) 687-0153
Rosales : Carmen, Rosales, Pangasinan
(0922) 563 7570

3. Tagudin : #28 Pedro Sarmiento Bldg., Del Pilar, Tagudin, Ilocos Sur
(0917) 856 4572
Dagupan City : WH Building, Maharlika Highway, Caranglaan District, Dagupan City
(0917) 826 8922
Tayug : Zaragoza St., Brgy B, Tayug Pangasinan
(0905) 225 6929
Burgos : Poblacion, Burgos, Ilocos Norte
(0935) 948 2785
Magsingal : San Ramon, Magsingal, Ilocos Sur
(0905) 855 3293
Sta. Catalina : Poblacion, Sta. Catalina, Ilocos Sur
(0905) 830 0200
San Nicolas San Guillermo, San Nicolas, Ilocos Norte
(0917) 560 1653
Mangatarem Royal Palm Plaza, Caoile-Olegario, Mangatarem, Pangasinan
(0926) 844 9964
Paniqui M. H. del Pilar, Estacion, Paniqui, Tarlac
(0915) 578 4852
Baguio City 3rd
fl., MCR Robles Bldg., #69 Bokawkan Rd., Baguio City
(0926) 288 1230
Science City
of Muñoz
Luisa Bldg., Bayuga St., Poblacion East, Science City of Muñoz, Nueva
Ecija
(0936) 556 5334
AREA OF OPERATION/ COVERAGE
Number of Barangays : 2,107
Number of Municipalities/ Cities : 150
Number of Provinces : 8
CAPITALIZATION (as of rating period)
Authorized : PhP 500,000,000.00
Subscribed : PhP 500,000,000.00
Paid-up : PhP 212,748,454.84

4. MEMBERSHIP (As of December 31, 2015):
BRANCH MALE FEMALE TOTAL
Galimuyod 2,147 2,822 4,969
Candon 3,226 4,981 8,207
Narvacan 682 1,589 2,271
San Emilio 910 1,099 2,009
San Fernando 653 2,136 2,789
Tagudin 1,011 1,811 2,822
Rosario 453 1,383 1,836
Dagupan 375 629 1,004
Rosales 415 806 1,221
Tayug 555 956 1,511
Burgos 365 861 1,226
Magsingal 334 795 1,129
Sta. Catalina 268 441 709
San Nicolas 201 546 747
Mangatarem 203 441 614
Paniqui 163 429 592
Baguio 123 633 756
TOTAL 12,084 22,328 34,412
FINANCIAL ASPECT
Indicators 2011 2012 2013 2014 2015
Total assets 232,159,763.66 376,292,786.19 573,648,450.55 1,008,283,208.00 1,419,662,555.65
Share Capital 27,649,436.87 45,137,652.77 78,748,400.01 134,686,738.92 212,748,454.84
Net Income 4,378,722.67 6,111,570.21 11,033,660.98 25,453,723.26 33,577,138.66
Deposits 132,444,608.52 221,130,632.73 317,444,380.43 432,666,164.15 641,393,060.27
Loan Portfolio 175,999,405.52 281,199,370.14 424,611,672.16 718,219,677.45 1,081,093,440.64
Net worth 33,462,354.01 52,141,671.87 88,346,930.69 167,692,406.21 257,429,502.95
Total Liabilities 198,697,409.65 324,151,114.32 485,301,519.37 840,590,801.79 1,162,233,052.70

5. PRODUCTS AND SERVICES
I. SAVINGS PRODUCTS
A. REGULAR SAVINGS
 Interest Rate: 2%PA
 Maintaining Balance: PhP 500.00
 Withdrawable anytime
B. PRIME SAVINGS
 For Children 17 years old & below
 Interest Rate: 8%pa
 Initial Deposit: 500.00
 May be withdrawn only when the Child is 18years old, or may be converted to
Share Capital.
C. YOUNG COOPERATORS SAVERS CLUB
 For children 17 years old and below
 Interest Rate: 2%PA
 Initial Deposit: 100.00 (MAINTAIN P500 TO EARN AN INTEREST.)
 Can be withdrawn anytime or may be converted to share capital.
D. PANGARAP SAVINGS
 Set a savings goal
 Establish a Time frame
 Figure out how much you’ll have to save per day, per week, or per month
 Open an interest bearing savings account.
E. SARANAY SAVINGS
 Interest Rate: 2%
 Maintaining Balance:500.00
 Exclusively for saranay contributions only
F. TIME DEPOSIT
TIME DEPOSIT 3 m0s 6 mos 9 mos 12 mos
10,000 to 99,999.99 6%p.a. 7%p.a. 8%p.a. 9%p.a.
100,000 and above 9%p.a 10%p.a. 11%p.a. 12%p.a.

6. II. LOAN PRODUCTS
A. MICRO-FINANCE LOANS
 Micro-finance (Business)
For small entrepreneurs who want to start their own business or improve their existing
ones.
 Micro-finance (Agricultural)
For farmers who want to engage in livelihood projects or to finance their crop
production costs.
B. AGRICULTURAL LOANS
 Production Loan
For farmers who want to finance crop production and farm inputs
 Agricultural Facility Loan
For farmers who want to acquire farm implements or equipment and agricultural
facilities.
C. BUSINESS LOANS
For small and medium enterprises.
D.MULTI-PURPOSE LOAN
For non-productive purposes like house repair, medical expenses, educational expenses,
acquisition of appliances, placement fees for abroad, and pawning of jewelry.
* EMERGENCY LOAN
For emergency expenses.
Amount: 5,000.00
Interest: 2%
Service Fee: 3%
Term: One (1)month only
ELIGIBILITY TO BORROW:
 Share Capital must be at least 10% of amount applied.
Ex. Amount applied: 50,000.00
10%: 5,000.00
(The borrower must have a share capital of 5,000.00 to be able to apply for a loan of
50,000.00. If the share capital is deficient, the borrower must complete the needed
amount or it may be deducted from the loan proceeds.)
 Loan amount: based on need

7.  Terms: based on loan size and capacity to pay
 Mode of payment: Amortized, Office Payment, Field Collection
 Interest Rate:
Clean Loans 24%
Partially Secured 22%
Fully Secured 20%
 Other charges:
Service Fee Term
3% 100 days and below
5% More than 100 days
Loan Redemption
1.75 per thousand per month
Loan Retention:
Share Capital 3%
Savings Deposit 2%
III. OTHER SERVICES
 Cooprints

8.  Coop Bazaar
 Coop Events

9.  Western Union
 SSS
 E-ticketing
- It is a web-based airline booking/ticketing system offered for all members

10.  Saranay Program
 Members have to maintain a Saranay Savings.
 Members must actively participate in the Capital Build-up.
 Members not participating in the Capital Build-up will be disqualified from the
saranay benefits.
 Members’ contribution = 500.00 per year
 Requirement for payment: Death Certificate
 Member must identify the beneficiaries to who the benefit will be paid.
 Prime savers are included in the program
 Age limit: 70 years old
 Service charge: 2%
 For new members 61 to 70 years old, the Share Capital must be 5,000.00 to
qualify in the program.
Amount of Benefit:
No. of years as member Amount of benefit
0 – 30 days 10,000.00
31 days - 3 years 50,000.00
3 yrs. & 1 day - 6 yrs. 80,000.00
6 yrs. & 1 day - 9 yrs. 110,000.00
9 yrs. & 1 day- 12 yrs. 140,000.00
12 yrs.& 1 day - 15 yrs. 170,000.00
15 years and above 250,000.00
 COOPERATIVE HEALTH CARE PROGRAM
 Provides unlimited medical check-up, laboratory services and Unlimited
Diagnostic Procedures (X-ray, Ultrasound, ECG) with the maximum
hospitalization allowance of 15,000.00 per year plus up to 10,000.00 surgery
allowance per year.
 Membership Fee: P1,800.00/year
 Beneficiaries:
Married – ( Spouse and Children )
Single – ( Parents )
 FARMERS ENTREPRENEURSHIP PROGRAM
 A collaborative project of National Livelihood Development Corporation,
Catholic Relief Services and Jollibee Group Foundation implemented to the local
community through a Microfinance Institution, academe and local government
unit which aims to organize small farmers into agro-enterprise clusters for the

11. purpose of consolidating supply and pooling transport logistics; assist farmers to
engage in value-adding activities in order to enhance their compliance of quality
requirements; and to increase the income of farmers towards food security and
sustainable growth.
 Site: Tagudin, Ilocos Sur
 Products: Calamansi and White onions
 Client: Members
 Organization: Tagudin Agroentrepreneurs Association, Inc.
 COFFEE PRODUCTION, TECHNOLOGY AND MARKETING PROJECT
 Aims to increase the income of interested and committed small farmers through
coffee agro enterprise development.
 Coffee Type: Arabica Typica
 Initial Area: 100 hectares
 Area for Expansion: 500 hectares
 Site: Sigay, Ilocos Sur and neighboring high-leveled towns (San Emilio, Del Pilar,
Lidlidda, Alilem, Suyo, Salcedo, Galimuyod, etc)
 At present:
 Intensified monitoring of the project at Galimuyod, Candon, San Emilio
and Tagudin branches by the technical officers
 Found out that coffee trees in Sigay, Del Pilar Suyo and Alilem, Ilocos Sur
and Santol, La Union are now on its flowering and fruit-bearing stage
 350 farmers enrolled
 436.5 has. planted with coffee
 872,500 coffee seedlings distributed

12. AFLATOUN YOUTH SAVINGS PROGRAM
As an offshoot to the creation of a Laboratory Coop for the youth members of Sacred
Heart Savings Cooperative, the year saw the launching of the Aflatoun youth Savings Program
which aims to provide an educational program of balanced social and financial education for
children, which are brought into the sphere of formal education. The program is in partnership
with the Natcco Network and the Department of Education (DepEd). It provides children access
to child-friendly savings account through school-wide savings program managed by the
Cooperative. Initially, the program is being piloted in 6 schools in Ilocos Sur: Salcedo
National High School, Candon National High School, Galimuyod Central School, Tagudin
National High School, Candon South Central School, and Quinarayan Elementary School.
The success of every endeavour lies in the hands of its constituents. Thus, the success of
the Child Social and Financial Education Program known as the Aflatoun Program lies in the
concerted effort and support of the people it and will be serving, especially the young people.
As of August 31, 2015, there is a total of 5,795 youth enrolled in this program and have
generated a total of PhP 4,874,501.28 savings and PhP 1,079,278.18 share capital.