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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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