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NATCCO Central Fund is 15!

The NATCCO Central Fund celebrates its 15th Anniversary on November 8.


To push for internally-generated funding, the NATCCO established the NATCCO Central Fund from the National Central Liquidity Fund in 2002.  


About eighty percent of NATCCO member-cooperatives were credit unions (cooperatives focused on financial services), and thus, NATCCO felt the federation had to go into that specialization.  The Central Fund provided, and still provides, deposit-taking and credit-granting to NATCCO member co-ops.  


The objective was to pool deposits of cooperatives and place them in sound investment outlets such as government securities, loans to co-ops, and business enterprises.


With the tagline “The Power of our Millions,” it immediately gained adherents, as deposits reached P61.5 million from 48 co-op depositors by December 2002, less than two months after it was established.


The challenge, said then NATCCO CEO, Guillermo Cua, was to “integrate resources effectively and develop common financial products to benefit those that have resources, but more importantly those that have less resources.”  


By its tenth year in 2012, Deposit Liabilities had grown more than ten-fold, reaching P655 Million.  Loans Released that year amounted to P651 Million, 84% of which went to Regular Loans and 16% for MICOOP Loans to Agrarian Reform cooperatives.


The drive toward Internal Fund Generation went on steadily from 2012 to present has born fruit, with Deposits exceeding P2 Billion by December 2016.  


2016 featured a significant decline in External Borrowings, hitting an all-time low.  This is despite the fact that the Fund had supported NATCCO’s participation in the Conditional Cash Transfer, the flagship anti-poverty program of the Government.
“The Central Fund is robust enough to leverage a big undertaking like the CCT of the Dept. of Social Welfare & Development,” says Raul Calayan, NATCCO COO.


As of October 2017, Deposits amount to P2.2 Billion and Loans Released for the year already stands at P779.6 Million.
 



 

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