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
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.