In the early part of ‘60s, parishioners came to see Rev. Father Gerard Loiselle, P.M.E. for financial assistance, such as payment for hospital bills, money to buy medicines, school tuition fees, and other emergencies. These were the parishioners living at the slum areas within the Parish of Sta. Ana in Davao City, who are mostly workers in factories, sales girls of department stores, stevedores, construction workers, sidewalk vendors and employees of either government or private offices within the parish.
Concerned with the situation, Fr. Loiselle a missionary priest from Canada, thought of organizing a cooperative patterned after the “Caise Populaire” of Levis, Quebec Canada his native country. If coops succeeded in almost all parishes in Canada, he thought why not in the Philippines? He believed that the coop philosophy of self-help emphasizes also the principle of brotherhood of men. “If you teach a person how to catch fish he will eat the rest of his lifetime,” Fr. Loiselle reasoned out.
With the help of his assistant Rev. Fr. Lalonde, also a native of Canada, the first series of coop orientation seminars were conducted among the members of the Barangay sa Birhen Organization headed by Mr. Hardencio Hofileña. After a series of meetings, the organization was form by 25 pioneering members with starting capital of P 242.00 collected from themselves. On February 26, 1967, an election of officers was conduct and the officers were the following: President Mr. Hardencio Hofileña an active leader of the Barangay Sa Birhen, Vice President Mr. Hipolito de Guzman, a government employee; Secretary Mr. Epifanio Datoy an employee of private enterprise; Treasurer Mr. Pedro Domingo, a retired government employee; and Mr. Jovito Placa, a businessman engaged in carenderia business.
On March 29, 1967, Sta. Ana Parish Credit Union was registered under the Cooperative Administration Office of the Department of Finance with the assistance of other parishioners who were members of a closed type employees cooperative like Mr. Fernando Saludes of the Governm ent Employees of Davao City Credit Union and Atty. Fernando Alag, Sr. of the PNB Employees Credit Union in Davao City.
To be a member, one has to undergo a minimum of 36 hrs. orientation seminar on the principles and practices of the cooperative. Then, individually, they submit for personal interview by the officers of the cooperative who approve the application for membership. This practice is being observed up to now, however, the seminar on the pre-membership is currently conducted twice a week and reduced to one and a half hour (1 1/2 hr.) per session only.
STA. ANA MULTIPURPOSE COOPERATIVE MILESTONES
1967- The Sta. Ana Multipurpose Cooperative, Inc. was organized on February 26, 1967 among parishioners of Sta. Ana Parish Catholic Church, initiated by the PME fathers led by Rev. Fr. Gerard Loiselle, PME, parish priest. Its original million pesos, and the share capital reached 2.7 million pesos.
1968- Adopted the Mortuary Assistance Program, which gave mortuary assistance to the family of the deceased members, through a contribution deducted from member’s individual savings deposit account.
1969- Office moved into the new Sta. Ana Parish Center which was offered by the Parish. The Education Committee published the first newsletter “Ang Paglaum”.
1970- Accepted minor depositors as associate members without voting rights through special minor deposit accounts.
1971- Adopted new financial services – the petty cash loans and quick loan schemes.
1972- The general Assembly approved the hiring of a full time Manager of the Cooperative.
1973- Assets reached P500,000.00 with total loan granted of One Million (P1,000,000.00) Pesos.
1975- The first One Million (P1,000,000.00) Pesos in assets was reached.
1976- Re-registered as a full-pledged Kilusang Bayan for Credit by the Bureau of Cooperative Development, under the Ministry of the Local Government and Community Development (MLGCD) on February 11, 1976.
1978- Assets now reached Two Million (P2,000,000.00) Pesos. Installed an NCR Electronic Machine which led to the mechanization of entries in the ledgers and passbooks.
1979- Adoption of the Cooperative Auditing program of MASS-SPECC as external auditor.
1980- The name of Sta. Ana Parish Cooperative Credit Union, Inc. was amended to Sta. Ana Credit Cooperative Inc., office moved from the Sta. Ana Parished Center to the Wee Eng Building at C. de Guzman St., Davao City, a step towards self-reliance.
1981- Amended the area of coverage from Sta. Ana Parish to the whole city poblacion of Davao City.
1982- Recipient of the Thrift Honor Award from the Bureau of Cooperatives Development (BCOD). Assets reached Five Million (P5,000,000.00) Pesos and share capital reached P2.7 Million Pesos.
1983- Acquired a 150 sq. m. lot along Monteverde Avenue, Sta. Ana District, Davao City. Adopted a policy to cover all loans with Loan Protection Plan (LPP) through CLIMBS and CISP, Cooperative Insurance Organization.
1984- Construction of a new building at Monteverde Avenue, costing half million pesos, and office transferred to the new building on October 8, 1984.
1985- Assets reached P8.5 Million Pesos with total loan granted of P5.2 Million Pesos.
1986- Expanded the services through the creation of a Buying Club exclusively for members using the 1984 and 1985 dividends as initial capital. Introduction of members credit cards with a term of 30 days.
1987- Created a Scholarship Fund for deserving children of the members.
1988- Amended the By-laws to convert the credit cooperative into a multipurpose cooperative, approved the MA-BCOD on March 20. 1988. Assets reached P10 Million Pesos.
1989- Acquired prime lot at Magsaysay Avenue, Davao City.
1990- January 18, 1990 – A ground breaking ceremony was held at the site of the proposed 3 storey building.
1991- January 18, 1991 – Inaugurated the new 3 storey building costing 4.5 Million Pesos. Assets reached 25 Million Pesos.
1992- Amendment of the Articles of Incorporation and By-laws increasing the authorized capital to P180M.
1993- Approved a motorcycle-financing plan for collectors and credit investigators/appraisers. Three (3) brand new motorcycles were purchased for the purpose. Purchased four (4) additional computers for savings and share capital and accounting. Purchased also air condition units for the office.
1994- Purchased a 42,208 sq. m lot situated in Mintal, Davao City at P 80.00 per sq. m. intended for the housing program of the cooperative for its members. Purchased also the adjacent lot in Monteverde St., owned by the Montano family.
1995- Approved the SAMULCO Mutual Benefit Services (SMBS) per G.A Res. No. 95-06 a new benefits service for the member’s coverage including immediate members of the family. Issued ID’s to members with the share certificate combined.
1996- The assets of the cooperative reached P 110 million. Launching of the Savings Product, a progressive savings product that provides increasing interest rates as the amount of Time Deposit increases. Construction/ ground breaking of the new P 18M building at Monteverde St., replacing the old first building.
1997- Inaugurated the new building on November 8, 1997. The Buying Club was transferred from Magsaysay St. to Monteverde St. for a unified management, under one full time manager. Combined assets of SAMULCO reached P 138.5 Million.
1998- Acquired two adjacent lots to the Monteverde property for P 10M pesos. Lot with building thereon is now occupied by the expanded Buying Club. The other lot is with a 3-door apartment standing thereon, and the Land Accounting Office, MASS-SPECC and CLIMBS are now renting the apartments.
2000- Building at Magsaysay-Chavez Sts., vacated by the Buying Club was renovated and now houses the SAMULCO Polyclinic and Diagnostic Center and Pharmacy. It was inaugurated on February 18, 2000.
SAMULCO expanded its business operations by putting up branches in strategic places in Davao City.
2002- Putting up of Matina branch at the junction of Matina crossing going to Matina Aplaya.
2005- Panacan branch was put up at a rented building in front of the Panacan Public market.
2007- Acquired an Automated Teller Machine (ATM); dubbed as Pinoy Coop ATM, the first cooperative in Southeastern Mindanao connected with Megalink, Bancnet and Expressnet.
2008 – Following its strategic plan, another branch in Puan has recently been put up to service the third district of Davao
To date, SAMULCO is operating at half a billion assets, internally sourced out from the 24,449 strong members
A leading World Class Cooperative empowering its members.
SAMULCO is committed to improve the quality of life of members and community through excellent savings, credit and allied services.
Objectives and Purposes of SAMULCO
- To encourage thrift and savings mobilization among members for capital formation;
- To engage in merchandising, marketing and distribution of consumer goods to members;
- To extend health services, putting up medical clinic and drug store;
- To acquire and develop land for residential units;
- To extend loans for productive and providential purposes;
- To engage in Funeral Care Services for deceased member’s, its immediate family and dependents.
- To engage in Micro Mutual Benefit Assistance (MBA) a Life Insurance Services of the cooperative for the protection of the members, immediate family members and dependents
- To promote the cooperative as a way of life.
The 43rd year of SAMULCO was full of challenges amidst the political and economic development of the country. It has proven that a cooperative can a successful business enterprise if managed properly. Believing in the principle of self reliance and mutual cooperation, it has survived and in fact, achieved faster growth during difficult times. SAMULCO acted as an alternative banking by the people, of the people and for the people, with preferential option to the poor who need it most, the marginal workers, small business and farmers and many others who recognize the need of each other.