Our humble beginning…
History/Background of the Cooperative:
The BSU Multipurpose Cooperative started from the organization of MSAC Teachers and Employees Consumers Cooperative which was registered on April 27, 1984 with 81 employees contributing an initial paid-up capital of PHP 12,650.00 only.
In 1985, Dr. Carlos T. Buasen Sr. then Chairperson of the Department of Agricultural Economics and Agribusiness Management conducted a survey to determine where the employees of BSU were obtaining their loans. Sixty percent of the employees were borrowing from rural banks and other lending institutions aside from private individuals. This finding encouraged Dr. Buasen Sr. to initiate the organization of a Credit Cooperative to serve the credit and savings needs of the BSU employees, which on October 2, 1988, the BSU Credit Cooperative was registered with 35 initial members and total paid-up capital of PHP 15,755.00 only.
After a decade of existence and operation, the Board of Directors of both Cooperatives evaluated the Consumers Cooperative and the Credit Cooperative. The evaluation revealed that Consumers Cooperative was suffering from stagnation while the Credit Cooperative was enjoying encouraging growth.
The idea of consolidating the two cooperatives into a Multipurpose Cooperative was launched in February 1999 for diversity of services, management efficiency and economic viability. This was approved by the members of both cooperatives, so the Multipurpose Cooperative was finally registered with the Cooperative Development Authority on September 16, 1999.
Originally, the BSU Multipurpose Cooperative was intended to cater to the needs of the employees of the University. For many years, however, not even one-half of the employees of the university became members of the cooperative. The Board of Directors proposed the amendment of the Article of Cooperation to expand the area of operation to include Benguet and Baguio City in 2005. This was presented and ratified during the General Assembly meeting on February 17, 2006. This was submitted to the Cooperative Development Authority which approved the amendment on May 26, 2006. Due to requests from other people outside Benguet and Baguio City and the desire of the Cooperative Officers to share the blessings to willing people of the Cordillera, an amendment was again submitted to the CDA which approved the area of operation of BSU Multipurpose Cooperative within the Cordillera Administrative Region in May 2011.
On March 3, 2018, during the 19th Annual General Assembly, the general membership approved the change of name of the cooperative. Since the cooperative was already opened to the community, the general membership decided it was wise to add “Community” in its name. Thus, on April 17, 2018, the Cooperative Development Authority officially approved the application of the cooperative for the change of name which is BENGUET STATE UNIVERSITY AND COMMUNITY MULTIPURPOSE COOPERATIVE (BSUCMPC).
Description of the Cooperative’s Best Practices:
DIVERSIFICATION OF SERVICES
CONTINUOUS EDUCATION AND TRAINING
STRICT COMPLIANCE TO POLICIES
YEARLY EVALUATION OF COOP OPERATION
SERVING WITH A SMILE
OBEDIENCE TO GOD
Your Security is our priority
VISION: A model multipurpose cooperative in the Cordillera Region.
MISSION: To provide Financial Products and Services to Members in Attaining Better Quality of Life.