SAN FERNANDO CITY, La Union (PIA) – The Cooperative Development Authority (CDA) Ilocos Region marks a historic milestone with the emergence of 12 billionaire cooperatives as of November 2024, underscoring the cooperative sector’s robust contribution to regional economic growth.
Assistant Regional Director Edilberto G. Unson shared the news during the Kapihan sa Bagong Pilipinas, highlighting how the region’s cooperative movement is thriving with 2,129 registered cooperatives, 727 of which are fully compliant.
“By 2025, CDA envisions becoming Asia’s benchmark for excellence in cooperative development. This achievement showcases the collective effort of cooperatives in building a progressive and inclusive economy,” Unson stated.
The 12 billionaire cooperatives in Region 1 include:
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Nueva Segovia Consortium of Cooperatives – Ilocos Sur (Federation-Secondary)
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Sacred Heart Savings Cooperative – Ilocos Sur (Multipurpose)
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NSCC Multipurpose Cooperative – Ilocos Sur (Multipurpose)
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Pangasinan III Electric Cooperative (PANELCO III) – Pangasinan (Electric)
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Sta. Cruz Savings and Development Cooperative (SACDECO) – Ilocos Sur (Multipurpose)
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Ilocos Consolidated Cooperative Bank – Ilocos Sur (Cooperative Bank)
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Suyo Multi Purpose Cooperative – Ilocos Sur (Multipurpose)
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Tubao Multipurpose Cooperative – La Union (Multipurpose)
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Calasiao Plant and Related Companies Employees Multipurpose Cooperative – Pangasinan (Multipurpose)
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Pangasinan I Electric Cooperative (PANELCO I) – Pangasinan (Electric)
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Gledco Multipurpose Cooperative – Ilocos Norte (Multipurpose)
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La Union Multipurpose Cooperative – La Union (Multipurpose)
These cooperatives earned their status by providing responsive, quality, and efficient products and services to their members, coupled with excellent management of their organizations.
To sustain this progress, the CDA Ilocos Region implements strategic initiatives, including capacity building and training programs to equip cooperative officers and members with leadership and governance skills, providing technical and financial support to enhance the operations of micro and small cooperatives while encouraging consolidation in agriculture, and ensuring compliance through robust regulatory oversight to maintain operational standards and best practices.
The rise of billionaire cooperatives is transforming the cooperative landscape in Region 1, setting a standard for operational excellence and financial growth. These cooperatives play a pivotal role in creating jobs, promoting local entrepreneurship, and enhancing social programs for community welfare.
“These billionaire cooperatives symbolize what is achievable through adherence to cooperative principles and sound management practices. Their success reflects the resilience of the cooperative model and its potential to address the socio-economic needs of communities,” Unzon added.
Aligned with its vision of becoming Asia’s benchmark for cooperative development, CDA is actively studying global best practices to innovate and strengthen the sector.
“By 2025, we envision the Philippines as a leader in cooperative development. Our goal is to attract international delegations who will benchmark their cooperative systems against ours,” said Unzon.
The government recognizes cooperatives as essential partners in achieving the administration’s vision for a Bagong Pilipinas. Through its innovative programs and the success of its billionaire cooperatives, the CDA Ilocos Region significantly contributes to the country’s push for inclusive growth, financial stability, and community empowerment.
For more information on CDA programs and initiatives, visit cda.gov.ph. (AMB/CCMT/AIHR/PIA Region 1)
