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  People look at the PLDT Employees & Credit Cooperative today and they see the country's biggest cooperative with P463 million in assets and 17,134 members as of October 1993. What they don't see is the 50 years of history behind the success of this cooperative. What it took in terms of commitment dedication and hard work from its incorporators, officers and members as well as the support they received from the public and private sectors to establish the PECCI as we know it now.

Two of PECCI's incorporators recalled how it was during the days before PECCI was established. Rafael Canseco, former vice president of PLDT and Ricardo Padua, former senior manager, said the cooperative was born out of a necessity: to augment the employee's income and to keep him away from loan sharks. "The fifteen incorporators sacrificed a lot in terms of time and effort to formulate the constitution and by-laws of the coop and have it registered with the proper bodies", the two said. Afterwards, they had to collect fixed deposit contributions and loan amortizations from the individual members every payday since it took some time before then American management of PLDT consented to a salary check-off deduction. "It was fortunate that members gave us their trust and confidence. We started with a fixed deposit of P500 each and initially extended loans up to P50. At first we were excited, tense and a little doubtful about the possibility of success but with support the members gave us, we were able to overcome the odds", they added the coop also received a P5,000 loan from the rank - and - file union as it started serving the initial thirty members.

Steadily, the cooperative grew. From its modest beginnings fifty years ago, its assets rose to more than P10 million in 1978, which in turn grew tenfold - P100 million eleven years later. In 2005, as it celebrates its 47th anniversary, PECCI had P463 million as of October 31, 1993. From a handful of members in 1958, it grew to 95% of all PLDT manpower total is around 18,000. Membership has even expanded to include dependents of members, TELESCOOP employees, employees of companies with 40% PLDT ownership and employees of medical retainers of PLDT Members can now avail themselves of eight types of loans: regular loans, which increased from P100 in 1958 to P56,400 as of August 2005; mini loan from P25 to P250; emergency loan of P5,000; educational loan of P9,600; Pangkabuhayan loan of P60,000 and housing equity loan of P60,000.

In 1977, the general assembly approved the articles of incorporation, the cooperative transforming it from an association (PECCA) to PECCI. This act of incorporation was a requirement by the Department of Local Government and Community Development so that PECCI could be registered as a full fledged cooperative. In 1986, PECCI was able to purchase the major portion of the fourth floor of the Universal-Re building at Paseo de Roxas corner Perea. This is now the cooperative's headquarters, a place where it can better serve its members. During these three and a half decades, PECCI's growth may, in part, be attributed to the operational stewardship of its previous general managers- Mabini Villadolid, Constantino B. Pastrana and Rodrigo M. Profeta. Villadolid guided the operations during the formative years as he set up the administrative procedures and financial policies and maintained records of these. Pastrana took off where Villadolid left and gave the Cooperative its historic legacies- a comprehensive benefit plan for members. After Pastrana's death, the responsibilities fell on Profeta's shoulders. This was during the early 80s and the country reeled from the effects of the economic crunch. Profeta pushed for a more aggressive posture in the Cooperative's financial policies and direction to soften the effects of the economic crisis and provided more services to members.

The growth of PECCI also threw it to the forefront of the country's cooperative movement. It has been active in spreading the spirit of cooperativism and has acted as "big brother" to smaller cooperatives even helping others that were yet to be organized. In 1991, these efforts were recognized as the Cooperative Union of the Philippines (CUP) gave PECCI an award as the "most outstanding cooperative in the Philippines". Fifty years ago, little did the incorporators know- aside from Canseco and Padua, they were Rafael Cortez, Jesus Lorenzo, Remedios Garcia, Mabini Villadolid, Juan Paguia, Moises Urbiztondo, Jose Reambillo, Manuel Manapat, Primitivo Viado, Cesar Cartera, Regino Ramirez, Josefino Siaron and Ciriaco Farolan - that the little acorn that they planted would grow to a big oak tree that it is now. PECCI looks forward to the turn of the century to be of greater service to its members as well as to the cooperative movement.



  Tribute goes to the enterprising minds of Rafael Canseco, Ricardo Padua, Rafael Cortez, Jesus Lorenzo, Remedios Garcia, Mabini Villadolid, Juan Paguia, Moises Urbiztondo, Jose Reambillo, Manuel Manapat, Primitivo Viado, Cesar Cartera, Regino Ramirez, Josefino Siaron and Ciriaco Farolan.

Little did these Incorporators know that their determination and decisiveness to bond and start helping PLDT employees shy away from "loan sharks" would go beyond their expectations.

Tribute also goes to the hard work and dedication of Mabini Villadolid, Constantino B. Pastrana, Rodrigo M. Profeta and the other past Board of Directors for their vision and dedication.

Tribute is equally given to past PLDT Presidents Don Ramon U. Cojuangco, Oscar T. Africa, Antonio O. Cojuangco, who believed in and fully supported our cooperative growth that has, and during their PLDT stewardship, attained the status of being one of the largest cooperatives in the country.

In 1991, PECCI was recognized by the Credit Union of the Philippines to be the "Most Outstanding Cooperative in the Philippines."

We also acknowledge the sustaining support of former President Manuel V. Pangilinan and current President Napoleon L. Nazareno.

Despite the continuing Manpower Reduction Program (MRP) of PLDT, immediate past PECCI President Doroteo A. Fuellas reported that "your Cooperative managed to come up with a net savings of Php73.6 M derived from the gross income of Php154.5 M or an increase of 12.95% and 8.10% in net savings and gross income, respectively."

The Statement of Financial Condition shows Total Assets of Php1, 017,629,752 as gleaned from the 2004 PECCI Annual Report.