• Co-ops' CISA Compliance Good for Economy

    Credit Information Corporation CEO Jaime P. Garchitorena lauded the release of the Cooperative Development Authority’s Memorandum Circular 2019-01, as: “a significant step in achieving many of the inclusive lending targets of the National Government.”   Asked why co-ops need to Read More
  • CDA Tells Co-ops to Submit Credit Data to CIC

    The Cooperative Development Authority (CDA) has confirmed that co-ops must ‘establish, maintain, and submit credit data’ of members to the Credit Information Corporation (CIC).   Said government agency issued its first memorandum circular for the year, Memorandum Circular 01-2019, named Read More
  • All China Co-op Leaders Visit NATCCO

    QUEZON CITY – Delegates from the All China Federation of Supply and Marketing Cooperatives (ACFSMC) visited the NATCCO Network headquarters on September 18 to exchange information, learn about the Philippine cooperative sector, and explore business linkages.   The Chinese delegation Read More
  • Sector Honors 3 Tagum Co-op Leaders

    DAVAO CITY -- Three leaders of Tagum Cooperative were honored at the 14th National Cooperative Summit held at the SMX Convention City here, before some 3,000 co-op leaders from all over the country.   Mr. ANTONIO C. ARAÑAS, MPA has served Read More
  • Lezo MPC's Champion, Aklan's Pride

    AKLAN – She served the National and Local Government as a dedicated, hardworking Municipal Agriculturist Extension Worker of the Municipality of Lezo for 42 years, before she retired in 2010.  And Emelinda Revestir-de la Cruz has proven herself to be Read More
  • COOP-NATCCO Partylist guns for 3 seats

    All cooperative members, leaders, staff, management and stakeholders are reminded to support COOP-NATCCO Partylist (CNPL) in the upcoming 2019 Elections.  Support is through – voting, campaigning, or providing finances and logistics.   The CNPL, since 1998, has endeavored to protect Read More
  • Ravanera, Chinese Counterpart Sign Agreement

    The Cooperative Development Authority (CDA) represented by Chairperson Orlando R. Ravanera and the Ministry of Agriculture and Rural Affairs (MARA) of the People's Republic of China represented by Han Changfu, signed a Memorandum of Agreement (MOU) for the Strengthening of Read More
  • Financial Pillar Shows Challenges & Hopes of Co-ops

    DAVAO CITY – One of the highlights of the 14th National Cooperative Summit was the Financial Pillar Presentation.  The Financial Pillar is considered to be the most “liquid” sector of the cooperative, delving into financial services.   The Finance Pillar Read More
  • How Lamac MPC Engages Youth

    DAVAO CITY - Co-op Youth Leader Justine Limocon of Lamac Multi-Purpose Cooperative in Cebu Province, spoke at the Cooperative Summit before more than 3,000 co-op leaders from all over the country, urging them to engage the youth in their cooperatives.   Read More
  • NATCCO GA on April 26-28 in Iloilo City

    ILOILO CITY – Representatives of member cooperatives of the NATCCO Network will converge in Iloilo City on April 26-28 for the 17th Coop Leaders Congress and the 42nd General Assembly.  Venue is the Grand Xing Imperial Hotel.   This year’s Read More
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Guideco Becomes Town Center thru Pinoy Coop ATM

Guimbal, ILOILO -- This quaint town is a coastal fourth class municipality of 33,820 people. 
 
Its 9 kilometers of scenic shoreline has attracted tourists, an industry that supplements its citizens’ agricultural livelihood.
 
In April 1993, the Southern Iloilo Development Foundation put up the Guimbal Development Cooperative (GUIDECO).  The foundation invited one representative from each of the town’s 33 barangays to join.  An initial Share Capital of P 33,000 was set.
 
Today, on its third decade, the co-op is still into lending and deposits for its 965 members, and its Assets amount to P43.65 Million.  The co-op has mustered enough resources to put up a grocery, a farm supply store, and on November 28, 2017 – a Pinoy Coop ATM.
Four months into its operations, the ATM has made 3,265 transactions.  That is about 25-30 transactions daily.
 
Asked why the large number of transactions, Manager Mr. Benny Tanate replied: “There are only two ATMs in our municipality. And GUIDECO charges lower transaction rates compared to the rural bank.”
 
Asked if the co-op has encountered any problems, he said: “Not really.  If ever there is a problem, it’s a good one: madali maubos ang cash namin dahil sa dami ng nag-withdrawal!” (Our cash supply needs to be replenished quite fast because of the large number of withdrawals!)
 
Other NATCCO services availed by GUIDECO are training and Aflatoun for kids.
 

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