COOPERATIVE PROFILE

Name of Cooperative : SACRED HEART SAVINGS COOPERATIVE

Address : Poblacion, Galimuyod, Ilocos Sur Tel. No. : (077) 742-6404

(077) 644-0529 Contact Person : Jaime Dongalen Gaboy, Jr. Contact No. : +639175683228

Address : Rubio, Galimuyod, Ilocos Sur

Date Established : April 2, 1972

CDA Re-Registration Date : December 7, 2009

& Number : 9520-01004061

Tax Identification Number : 263-534-145

SSS No. : 01-1276553-4

Company type : Cooperative

Nature of Business : Multipurpose

Years Existed : 43 years

BRIEF HISTORY: The Sacred Heart Savings Cooperative was first organized on April 2, 1972 as the

Galimuyod Credit Union. A group of 33 or so parishioners of the Sacred Heart of Jesus Parish in

Galimuyod, Ilocos Sur took the initiative to organize as a credit union in order to respond to their

needs in their economic life. The union started with a capitalization of P916 and its principal

office was located at the Sacred Heart of Jesus Parish rectory. The first set of officers was

Mariano Rafael as president, Francis Makil as Vice President, Jose Sabado Jr., as Treasurer, and

Lilia Balicdang as Secretary.

On December 18, 1984, the credit union was converted into a Kilusang Bayan pursuant to

presidential decree no. 175 and LOI No. 23 and was confirmed by the CDA on December 31,

1990.

In June 1997, the coop was converted into a multi-purpose cooperative providing legal

basis for its expansion programs like the establishment of the consumers and marketing section.

In 2002, the Cooperative took a bold move by yet another amendment to its by-laws

changing its name from Galimuyod Multi-Purpose Cooperative to Galimuyod Savings and

Development Cooperative; and expanding its area of operation to the whole province of Ilocos

Sur. As an offshoot to the amendment, the Cooperative put up its Branch Office in Candon. In

February 2007, the Cooperative opened its 2nd branch office located at San Jose, Narvacan,

Ilocos Sur. A third branch was put up in San Emilio, Ilocos Sur on March 15, 2009 to serve the

communities in the uplands. On July 13, 2010, the name of the Cooperative was changed to

Sacred Heart Savings Cooperative as a preparation for its expansion on its area of operation

within Region and Abra. On the 12th day of April 2011, a new branch was opened at San

Fernando City in La Union. As time passed, its operation expanded and opened twelve (12) more

branches.

Under its Business Enterprise Department, the cooperative opened the SHSC Laboratory,

Diagnostics, and Medical Clinic last November 26, 2013 to serve members and non-members in

terms of their health. Cooprints, a large scale digital printing shop, was opened last June 25, 2014

to give printing services for members. Coop Bazaar and Coop Events were also introduced to the

members

Under the able leadership of the present officers and through the efficiency and diligence of

the staff, the coop has become one of the most dynamic cooperative in terms of growth having

been awarded by the Cooperative Development Authority as one of the most outstanding

cooperatives in the country (1st place CDA Gawad Parangal Regional Level-Large Scale). Last

December 23, 2014, the Cooperative Development Authority – Region I proclaimed that the

Sacred Heart Savings Cooperative is the First Billionaire Primary Cooperative.

VISION

A leading cooperative in the country that propels community development in its area of

operation

MISSION

To provide a complete package of integrated services in building members’ lives

CORE VALUES

Teamwork – to work together as one big family

Integrity – to work in all honesty and uprightness for the common goal

Professionalism – to deliver services to members efficiently and effectively

Innovation – to continually effect new and novel programs to keep abreast with the changing times

Discipline – to uphold the Code of Ethics in the performance of our tasks

Social Responsibility – to foster a culture of service while doing business

BRANCHES:

Galimuyod : Poblacion, Galimuyod, Ilocos Sur

Tel. No. (077) 742-6827

Candon City : Morales St., San Isidro, Candon City, Ilocos Sur

Tel. No. (077) 742-6404

Narvacan : Sta. Lucia, Narvacan, Ilocos Sur

(0922) 879 4395

San Emilio Cabaroan, San Emilio, Ilocos Sur

(0917) 508 8128

San Fernando

City

: Diocesan Bldg., P. Gomez St., Brgy. II, San Fernando City, La Union

(072) 607-1871

Rosario : Friendship Bldg., Tay-ac, Rosario, La Union

(072) 687-0153

Rosales : Carmen, Rosales, Pangasinan

(0922) 563 7570

Tagudin : #28 Pedro Sarmiento Bldg., Del Pilar, Tagudin, Ilocos Sur

(0917) 856 4572

Dagupan City : WH Building, Maharlika Highway, Caranglaan District, Dagupan City

(0917) 826 8922

Tayug : Zaragoza St., Brgy B, Tayug Pangasinan

(0905) 225 6929

Burgos : Poblacion, Burgos, Ilocos Norte

(0935) 948 2785

Magsingal : San Ramon, Magsingal, Ilocos Sur

(0905) 855 3293

Sta. Catalina : Poblacion, Sta. Catalina, Ilocos Sur

(0905) 830 0200

San Nicolas San Guillermo, San Nicolas, Ilocos Norte

(0917) 560 1653

Mangatarem Royal Palm Plaza, Caoile-Olegario, Mangatarem, Pangasinan

(0926) 844 9964

Paniqui M. H. del Pilar, Estacion, Paniqui, Tarlac

(0915) 578 4852

Baguio City 3rd

fl., MCR Robles Bldg., #69 Bokawkan Rd., Baguio City

(0926) 288 1230

Science City

of Muñoz

Luisa Bldg., Bayuga St., Poblacion East, Science City of Muñoz, Nueva

Ecija

(0936) 556 5334

AREA OF OPERATION/ COVERAGE

Number of Barangays : 2,107

Number of Municipalities/ Cities : 150

Number of Provinces : 8

CAPITALIZATION (as of rating period)

Authorized : PhP 500,000,000.00

Subscribed : PhP 500,000,000.00

Paid-up : PhP 212,748,454.84

MEMBERSHIP (As of December 31, 2015):

BRANCH MALE FEMALE TOTAL

Galimuyod 2,147 2,822 4,969

Candon 3,226 4,981 8,207

Narvacan 682 1,589 2,271

San Emilio 910 1,099 2,009

San Fernando 653 2,136 2,789

Tagudin 1,011 1,811 2,822

Rosario 453 1,383 1,836

Dagupan 375 629 1,004

Rosales 415 806 1,221

Tayug 555 956 1,511

Burgos 365 861 1,226

Magsingal 334 795 1,129

Sta. Catalina 268 441 709

San Nicolas 201 546 747

Mangatarem 203 441 614

Paniqui 163 429 592

Baguio 123 633 756

TOTAL 12,084 22,328 34,412

FINANCIAL ASPECT

Indicators 2011 2012 2013 2014 2015

Total assets 232,159,763.66 376,292,786.19 573,648,450.55 1,008,283,208.00 1,419,662,555.65

Share Capital 27,649,436.87 45,137,652.77 78,748,400.01 134,686,738.92 212,748,454.84

Net Income 4,378,722.67 6,111,570.21 11,033,660.98 25,453,723.26 33,577,138.66

Deposits 132,444,608.52 221,130,632.73 317,444,380.43 432,666,164.15 641,393,060.27

Loan Portfolio 175,999,405.52 281,199,370.14 424,611,672.16 718,219,677.45 1,081,093,440.64

Net worth 33,462,354.01 52,141,671.87 88,346,930.69 167,692,406.21 257,429,502.95

Total Liabilities 198,697,409.65 324,151,114.32 485,301,519.37 840,590,801.79 1,162,233,052.70

PRODUCTS AND SERVICES

I. SAVINGS PRODUCTS

A. REGULAR SAVINGS

Interest Rate: 2%PA

Maintaining Balance: PhP 500.00

Withdrawable anytime

B. PRIME SAVINGS

For Children 17 years old & below

Interest Rate: 8%pa

Initial Deposit: 500.00

May be withdrawn only when the Child is 18years old, or may be converted to Share Capital.

C. YOUNG COOPERATORS SAVERS CLUB

For children 17 years old and below

Interest Rate: 2%PA

Initial Deposit: 100.00 (MAINTAIN P500 TO EARN AN INTEREST.)

Can be withdrawn anytime or may be converted to share capital.

D. PANGARAP SAVINGS

Set a savings goal

Establish a Time frame

Figure out how much you’ll have to save per day, per week, or per month

Open an interest bearing savings account.

E. SARANAY SAVINGS

Interest Rate: 2%

Maintaining Balance:500.00

Exclusively for saranay contributions only

F. TIME DEPOSIT

TIME DEPOSIT 3 m0s 6 mos 9 mos 12 mos

10,000 to 99,999.99 6%p.a. 7%p.a. 8%p.a. 9%p.a.

100,000 and above 9%p.a 10%p.a. 11%p.a. 12%p.a.

II. LOAN PRODUCTS

A. MICRO-FINANCE LOANS

Micro-finance (Business) For small entrepreneurs who want to start their own business or improve their existing

ones.

Micro-finance (Agricultural)

For farmers who want to engage in livelihood projects or to finance their crop

production costs.

B. AGRICULTURAL LOANS

Production Loan For farmers who want to finance crop production and farm inputs

Agricultural Facility Loan For farmers who want to acquire farm implements or equipment and agricultural

facilities.

C. BUSINESS LOANS

For small and medium enterprises.

D. MULTI-PURPOSE LOAN

For non-productive purposes like house repair, medical expenses, educational expenses,

acquisition of appliances, placement fees for abroad, and pawning of jewelry.

* EMERGENCY LOAN

For emergency expenses.

Amount: 5,000.00

Interest: 2%

Service Fee: 3%

Term: One (1)month only

ELIGIBILITY TO BORROW:

Share Capital must be at least 10% of amount applied. Ex. Amount applied: 50,000.00

10%: 5,000.00

(The borrower must have a share capital of 5,000.00 to be able to apply for a loan of

50,000.00. If the share capital is deficient, the borrower must complete the needed

amount or it may be deducted from the loan proceeds.)

Loan amount: based on need

Terms: based on loan size and capacity to pay

Mode of payment: Amortized, Office Payment, Field Collection

Interest Rate: Clean Loans 24%

Partially Secured 22%

Fully Secured 20%

Other charges: Service Fee Term

3% 100 days and below

5% More than 100 days

Loan Redemption

1.75 per thousand per month

Loan Retention:

Share Capital 3%

Savings Deposit 2%

III. OTHER SERVICES

Cooprints

Coop Bazaar

Coop Events

Western Union

SSS

E-ticketing - It is a web-based airline booking/ticketing system offered for all members

Saranay Program Members have to maintain a Saranay Savings.

Members must actively participate in the Capital Build-up.

Members not participating in the Capital Build-up will be disqualified from the

saranay benefits.

Members’ contribution = 500.00 per year

Requirement for payment: Death Certificate

Member must identify the beneficiaries to who the benefit will be paid.

Prime savers are included in the program

Age limit: 70 years old

Service charge: 2%

For new members 61 to 70 years old, the Share Capital must be 5,000.00 to

qualify in the program.

Amount of Benefit:

No. of years as member Amount of benefit

0 – 30 days 10,000.00

31 days - 3 years 50,000.00

3 yrs. & 1 day - 6 yrs. 80,000.00

6 yrs. & 1 day - 9 yrs. 110,000.00

9 yrs. & 1 day- 12 yrs. 140,000.00

12 yrs.& 1 day - 15 yrs. 170,000.00

15 years and above 250,000.00

COOPERATIVE HEALTH CARE PROGRAM Provides unlimited medical check-up, laboratory services and Unlimited

Diagnostic Procedures (X-ray, Ultrasound, ECG) with the maximum

hospitalization allowance of 15,000.00 per year plus up to 10,000.00 surgery

allowance per year.

Membership Fee: P1,800.00/year

Beneficiaries:

Married – ( Spouse and Children )

Single – ( Parents )

FARMERS ENTREPRENEURSHIP PROGRAM A collaborative project of National Livelihood Development Corporation,

Catholic Relief Services and Jollibee Group Foundation implemented to the local

community through a Microfinance Institution, academe and local government

unit which aims to organize small farmers into agro-enterprise clusters for the

purpose of consolidating supply and pooling transport logistics; assist farmers to

engage in value-adding activities in order to enhance their compliance of quality

requirements; and to increase the income of farmers towards food security and

sustainable growth.

Site: Tagudin, Ilocos Sur

Products: Calamansi and White onions

Client: Members

Organization: Tagudin Agroentrepreneurs Association, Inc.

COFFEE PRODUCTION, TECHNOLOGY AND MARKETING PROJECT

Aims to increase the income of interested and committed small farmers through

coffee agro enterprise development.

Coffee Type: Arabica Typica

Initial Area: 100 hectares

Area for Expansion: 500 hectares

Site: Sigay, Ilocos Sur and neighboring high-leveled towns (San Emilio, Del Pilar,

Lidlidda, Alilem, Suyo, Salcedo, Galimuyod, etc)

At present:

Intensified monitoring of the project at Galimuyod, Candon, San Emilio

and Tagudin branches by the technical officers

Found out that coffee trees in Sigay, Del Pilar Suyo and Alilem, Ilocos Sur

and Santol, La Union are now on its flowering and fruit-bearing stage

350 farmers enrolled

436.5 has. planted with coffee

872,500 coffee seedlings distributed

AFLATOUN YOUTH SAVINGS PROGRAM

As an offshoot to the creation of a Laboratory Coop for the youth members of Sacred

Heart Savings Cooperative, the year saw the launching of the Aflatoun youth Savings Program

which aims to provide an educational program of balanced social and financial education for

children, which are brought into the sphere of formal education. The program is in partnership

with the Natcco Network and the Department of Education (DepEd). It provides children access

to child-friendly savings account through school-wide savings program managed by the

Cooperative. Initially, the program is being piloted in 6 schools in Ilocos Sur: Salcedo

National High School, Candon National High School, Galimuyod Central School, Tagudin

National High School, Candon South Central School, and Quinarayan Elementary School.

The success of every endeavour lies in the hands of its constituents. Thus, the success of

the Child Social and Financial Education Program known as the Aflatoun Program lies in the

concerted effort and support of the people it and will be serving, especially the young people.

As of August 31, 2015, there is a total of 5,795 youth enrolled in this program and have

generated a total of PhP 4,874,501.28 savings and PhP 1,079,278.18 share capital.