University of San Agustin

College of Law
General Luna, St. Iloilo City, Philippines

“Insert Title Here”

A paper on Cooperative Banks existing and has existed in the Philippines.

Aurora Borealis

Catacutan, Lech Benigno D.

Fama, Edmer P.
Gloria, Maria Jesse Anne B.
Ismael, Marbe Rose S.
Ocaso, Winona Vee L.
Pasquin, Leomel H.
Poral, Mary Anne P.
Progalidad, Cleasol G.
Velasco, Jon Paolo P.

Law, Third Year

October 8, 2018
I. INTRODUCTION

As defined by Republic Act 6983, otherwise known as the Cooperative Code of

the Philippines, a cooperative is an autonomous and duly registered association of

persons, with a common bond of interest, who have voluntarily joined together to

achieve their social, economic and cultural needs and aspirations by making equitable

contributions to the capital required, patronizing their products and services and

accepting a fair share of risks and benefits of the undertaking in accordance with the

universally accepted cooperative principles. Particularly, a Cooperative Bank is one

organized for the primary purpose of providing a wide range of financial services to

cooperatives and their members.

There are a total of twenty-five (25) existing cooperative banks listed under the

Banko Sentral ng Pilipinas (BSP) database. Ten out of the said twenty-five are

recognized as part of the top one hundred rural and cooperative banks in the

Philippines according to total assets as of March 31, 2018. The top performing

cooperative bank based on total assets is First Isabela Cooperative Bank Inc.

(FICOBANK).

Cooperative Banks are primarily governed by the Cooperative Code of the

Philippines of 2008 which was amended by Republic Act 9520. Cooperative banks are

also regulated by Republic Act 8791 (the General Banking laws of the Philippines) and

BSP Circulars.

The aim of this paper is to introduce four (4) cooperative banks existing and

operating in the Philippines. The following will be highlighted by this paper: 1) brief

history and company background; 2) organizational structures; and 3) financial

products and services.

II. EXISTING COOPERATIVE BANKS

A. Metro South Cooperative Bank

The Metro South Cooperative Bank (MSCB) is the first cooperative bank in the

National Capital Region (NCR). It is registered with the Cooperative Development

Authority (CDA) as a cooperative, and with the Bangko Sentral ng Pilipinas (BSP), as a

bank under the cooperation and rural banking system.

On March 24, 1997, Metro South Cooperative Bank started banking operation

with an initial capital of P33.0 million contributed by thirty-four (34) member

cooperative stockholders. After 21 years of cooperative banking operation, MSCB is now

owned by more than 800 cooperatives nationwide with a total paid in capital and net

worth of P587.3M and P656.0M respectively and total assets of P 3.48B as of December

31, 2017.

In 2018, MSCB will undergo a digital transformation as the first cooperative bank

that will collaborate with leading Fintech companies enabling MSCB to expand and

attract other markets, tapping into segments that have not been tapped before;

thereby leading the cooperative sector towards a digital future.

As the only cooperative bank located in NCR, it has flourished in the past 21

years because of its prime location. In fact, it considers its location as its competitive

edge. Its basic function is to provide banking services to cooperatives found within NCR.

MSCB does not have any special functions.

Currently, the Chairman of the Board of Directors is Father Serafin Peralta and

the President is Ms. Renelia Estioko. Below are the Core Values, Vision, Mission, Goals,

and Financial Products of Metro South Cooperative Bank. Its financial products are

further divided among credit facilities, special loans, and savings deposit.
Core Values

 Fairness - equal treatment

 Accountability - this taken seriously by making sure that every penny is

taken cared of with transparency

 Integrity - of the organization and the people

 Transparency - no hidden agenda, what you see is what you get

 High Ethical Standards - discipline and professionalism

 Service to the Community - selflessness, creativity

Vision

The leading cooperative bank of the Philippines.

Mission

To provide quality banking services of all our stakeholders and strengthen the

cooperative movement.

Goals:

 For our CO-OWNERS: To provide them reasonable return on capital and

patronage refund.

 For our CUSTOMERS: Provide quality products and services, responsive to

their needs.

 For our OFFICERS: To develop a culture of excellence & professionalism

by practicing good governance & ethical standards.

 For our EMPLOYEES: Provide a working environment that enhances total

growth & development, and achieve excellence through teamwork.

 For our PARTNERS: Promote mutually beneficial partnerships and alliances.

  For the COOPERATIVE MOVEMENT: Help strengthen unity among

cooperatives and promote sustainable development through cooperation.

 For our COMMUNITY: Contribute to the upliftment of economic & social

status not only of its members but also of the community where we

operate, as well as protection of the environment.

Financial Products

 Credit Facilities

1. Credit Line

2. Term Loan

3. Consumer Loan Housing, Vehicle/Car, Salary, Teachers Loan, Small

business loan

4. Fixed asset acquisition loan

5. Purchase of Recievables with recourse

6. Purchase of Recievables without recourse

7. Banana Growers Loan

8. Back-to-Back Loan

 Special Loans

 PAUTANG NI KUYA (BIG BROTHER LOAN)

 TANGING YAMAN

 CAR-A-VAN LOAN

 Savings Deposit

 For Individual & Corporations

1. Regular Savings

2. Individual

3. Maintaining Balance₱ 1,000.00

4. To earn interest ₱ 2,000.00

 5. Corporation

6. Maintaining balance & to earn interest₱ 5,000.00

7. Regular Savings Account with FREE Life/Accident insurance up to ₱

100,000.00

8. Special Savings Account:

5-Years Savings Account(Tax Exempt)

 For Member Cooperative

1. Regular Savings

2. Maintaining balance & to earn interest₱ 2,000.00

3. Special Savings Account:

5-Years Savings Account(Tax Exempt)

4. Tanging Yaman Deposit

B. First Isabela Cooperative Bank

Nature and Areas of Banking Operations, Specific Functions

The First Isabela Cooperative Bank (FICOBank) is one of the pioneer and

prominent cooperative banks in the Philippines. Its origin is deeply rooted in the

community, as it was organized 41 years ago by two cooperatives and 47 samahang

nayon, which represented the farmers who have limited resources and access to

banking services. From a molehill-size cooperative rural bank that it opted to be, it

elevated to a mountain-high cooperative bank, as it can now lay claim to a resource

base of over Php4.11 billion (as of December 2017).

From the time it launched the first salvo of its banking services in 1980,

FICOBank continually operates on the basis of firm and sound cooperative banking

principles. And for the reason that its cooperative nature translates to “people helping

people transform their lives,” FICOBank is more involved in the community than any
other banking institution. To a great extent, it contributes to the socio-economic

development of the people, thereby making it a valuable community asset.

FICO Bank is primarily engaged in financial intermediation between and among:

farmers, fishers and their organizations; micro, small and medium entrepreneurs; rural,

urban and overseas workers; and professionals, pensioners and other segments of the

market. It also provides money-wiring and cash-dispensing services to the public. Its

extensive array of innovative financial products and services and its exclusive list of

complementary development support and solutions are adaptive and responsive to the

multidimensional needs of its 103 regular institutional members, 23,781 special

individual members and 100,000 depositing and borrowing clients. This proves that

FICOBank is a real people's bank that has a big heart for the common good of the

greatest number.

FICOBank’s products and services can be accessed by the banking public at its

34 banking units in 32 strategic locations in the provinces of Isabela, Quirino, Nueva

Vizcaya, Cagayan, Tarlac, Nueva Ecija, Bataan, Pampanga, Pangasinan and Bulacan.

These operating units effectively extend the Bank’s market reach and bolster its

capability to service the growing number of clients.

True to its unique character, FICOBank is owned, managed and controlled by its

regular member-shareholders through their elected/appointed representatives. It is ably

governed by its Board of Directors (BOD), which is composed of seven regular directors

and two independent directors. The BOD, in its oversight function, is assisted by 10

Board Committees. Its corporate and business affairs are administered by the Senior

Management (SM), Treasury & Corporate Services Group (TCSG) and Operation &

Banking Services Group (OBSG). FICOBank employs a total of 449 personnel. It is

renowned for having top-notch, high-skilled, goal-driven and dedicated personnel.

FICO Bank is ranked No. 1 in the Philippine cooperative banking industry in

terms of financial performance, “AA” EAGLE Achiever in microfinance performance, a

Hall of Famer Cooperative Bank and a Ginintuang Gawad PITAK Awardee. Its

outstanding performance has been consistently noticed through the years by the Land

Bank of the Philippines, Cooperative Banks Federation of the Philippines, Bangko Sentral

ng Pilipinas, Microfinance Council of the Philippines, Citigroup and other award-giving

organizations.

FICOBank pursues to be a FIRST CHOICE Bank by the people in its geographic

area of operation (Regions I-II-III and CAR). In full awareness of this institutional

pursuit, FICOBank puts first and foremost the common interest and aspiration of its

members and clients, along with their families and communities. Providing excellent

customer service, fostering longer-term relationships and offering the best possible

financial solutions are FICOBank’s means to achieve that end.

FICOBank is firmly committed to its key corporate-brand promise of staying in

the business of community banking for good.

Corporate Identity:

 Premiere Cooperative Bank in the Philippines

FICOBank is a pioneer, prominent and premier cooperative bank in the

Philippines. It provides a broad line of innovative financial products and services, and

wide range of development support and solutions that are adaptive and responsive to

the multi-dimensional needs of its multi-sectoral clientele.

FICOBank’s strategic focus is on becoming a FIRST CHOICE Bank by the

banking public in its areas of business operation in Northeast, Central and Northwest

Luzon. It’s rare nature, as a cooperative bank, sets it apart from all other banking

institutions, and its distinct character makes it a valuable community asset.

 Organizational Structure

 Moving like a Cooperative, Operating like a Corporation

FICOBank Works in the dynamics of a corporation where the core officers are

composed of the Chairman, the Vice-Chair, and the Board of Directors. These officers

are responsible for appointing the president of the cooperative bank who shall serve as

Chief Executive Officer and shall be responsible for the general supervision of the

banking operation of the whole banks including its 34 branches. All of the branches

including the main office shall be under the direct supervision of the Executive Vice-

President for the Operation. Organizational structure is herein referred to as Figure No.

1.

For 41 years, the FICOBank remains as formidable cooperative bank because

of the transparency and dedication of its members who are instrumental in keeping it

steadfast business operation amidst the various re-organizations and reshuffling of

officers. The fact that it already has 34 branches in Regions 1, 2, 3 and other areas in

the Cordillera Autonomous Region (CAR) is already an apparent manifestation that the

bank is solid. In the subsequent years the bank is projected to increase its capitalization

to P5.2 Billion pesos from the P4.11 Billion assets this year. This is needed to attain its

vision of extending its operations to different part of the country especially in the Ilocos

Region where poverty rate remains below the normal threshold of the government

standard by providing the agri-aqua sectors with soft loans and micro-finances for

technology start-ups and other small-medium enterprises (SMEs).

Figure No. 1: FICOBank Org Structure

Chairman

Vice Chairman President & CEO EVP for Banking Operations

Board of Directors

Managers for 34 Banking Units

Corporate Secretary
 C. Cooperative Bank of Benguet

Land Bank of the Philippines (LBP) facilitated by its Field Office Manager, Leon

Cabradilla sponsored a seminar on “Development and Management of Cooperative in

1990. This caught the interest of the cooperative leaders in Baguio City and Benguet in

owning a cooperative bank. A special committee was created to plan and organize a

congress among the cooperatives operating in Baguio-Benguet and to decide on the

organization of a cooperative bank and federation.

The creation of a cooperative bank was approved and appointed Prof. Dizon

Mayos from Benguet State University to head the interim Board of Directors. Mr. Gerry

T. Lab-oyan of the Department of Agriculture through its Highland Agriculture

Development Project was assigned to assist the interim officers in the collection of

share stock pledges of cooperatives to meet the minimum paid-up share of Php

1,250,000.00 and in the completion of all documents required by Bangko Sentral ng

Pilipinas.

On May 22, 1992, the BSP issued the “Authority to Organize” to CBB and

subsequently its registration was approved by CBA on June 8, 1992. With the continued

technical assistance from Land Bank, the pioneer staff worked and complied the pre-

opening requirements. On September 15, 1992, Central Bank Governor Jose L. Cuisa,

Jr. signed the ”Authority to Operate” for the Cooperative Bank of Benguet, thus,

establishing the first coopbank in the Cordillera.

It started its business operations on October 1, 1992 CBB, owned by the General

Assembly: the common/stockholders-cooperatives operating within the different parts

of the Province and the individual/preferred shareholders within and outside the

Cordillera. The first set of regular Board of Directors was chaired by Mr. Casio P. Paris,

Sr. and the pioneer staff is headed by Mr. Gerry T. Lab-oyan as General Manager.

On February 6, 1997, CBB opened its two branches: one at Abatan, Buguias,

Benguet and the other at Baguio City. In 2007, it expanded its services outside Benguet
Province and opened its third branch at Rosario, La Union on June 5, 2008. The Bank

on its 18’th year has already four operating branches where its clients can easily access

on their most expedient preferences. For these achievements, CBB received the 2009

Presidential Citation for Best Practices in Improving Access to Finance for Implementing

MSME Financing Programs.

Services

 Accepts passbook savings deposits with the following features:

a) minimum amount to open an account – Php 100

b) minimum balance to earn an interest – Php 500

c) dormant classification: no transaction for two years

 Accepts special savings & time deposits at a higher interest rate

than passbook savings with the following features

a) minimum amount to open an account – Php 1,000

b) minimum term: at least 30 days,

*Automatic renewal if not withdrawn at maturity.

*Deposits Insured with PDIC up to maximum of Php 500,000.00

 Extends loan services

Type Of Loan Purpose Term of Payment

Small Agricultural Extended to borrowers to finance Lumpsum payment or the

Loan activities relating to agriculture, repayment period shall

processing, marketing, storage and depend on the production/

distribution of agri-products crop cycle or cash

resulting from these activities. payback period of the

 Type Of Loan Purpose Term of Payment

project being financed but

shall not exceed 18

months, except for special

projects or rehabilitation

project.

Small Commercial Extended to borrowers to finance Maximum of 6 months or

Loans activities such as conducting, 180 days, and monthly

carrying, developing, or improving repayment.

commercial business as well as

purchase of commodities,

equipments, supplies, materials,

motors, etc. for resale to

consumers.

Small Industrial Extended to borrowers to finance Minimum of three months

Loan value addition activities relating to and maximum of 18

industrial such as processing, months, and monthly,

manufacturing, motorworks, body quarterly or semi-annual

building, repair shops, repayment.

blacksmithing/welding shops;

purchase of motor vehicles and

other activities related to industrial.

Highland Micro A micro credit services offered to

Finance Loans targeted micro entrepreneurs or

households with small means

 Type Of Loan Purpose Term of Payment

utilizing a cash flow based lending

technology.

Salaried Employees Offered to permanent or regular

Loan employees of firms or institutions

located or operating in the area of

operation of the CoopBank. Term:

maximum of 12 months, and

monthly repayment.

Petty Lending service offered to vendors, 120-180 days and daily

Traders/Vendors retailers, shops, small traders at repayment.

Loan town centers or commercial areas

within or near the branch offices.

Overseas Filipino Lending services offered to active

Workers (Active and former member-OFW of the

and former OWWA and their immediate family

member-OFW of members; and to legally organized

the OWWA) Loans group of OFWs (i.e. OFW

partnerships/ corporations, OFW

organizations/

cooperatives/federation.

Other type of Loans Loan services which cannot be

specifically classified to any one of

the above type of loans.

  Offers non-bank technical services

a) Business development services or business advice on small

enterprises

b) Accounting and financial auditing services

c) Training on management of cooperative organization, financial

analysis, savings and credit operations

Investment on Cooperative Bank of Benguet

There are two ways to invest first, as common/stockholders (Cooperative-

member) and second, as individual known as our Preferred Shareholders.

For a common shareholder, a minimum of 20 shares equivalent to Php20,000.00

is required and the maximum is not more than 40% of the total paid-up capital of the

CBB. This offering is limited to cooperative organizations. The shares are not

withdrawable but maybe sold or transferred to qualified member cooperative

organizations. Holders of common shares can vote during general assembly of

shareholders and they can be voted upon to the position of director or officer.

For a Preferred shareholder, one has to buy a minimum of one share amounting

to Php 1,000.00. It is offered to individuals and organizations who are interested to

become associate member-investors. It’s a non-voting shares but earns a 12% non-

cumulative dividends. The shares can be sold or transferred to other individuals or

organizations qualified to become associate members. Individuals outside the country

may also invest.

 D. Cooperative Bank of Quezon Province

Nature of Banking Business Operations

One of the objectives of the primary cooperatives in Quezon Province is to put up

a bank that will answer to the financial needs of the cooperatives and their members, a

bank that will provide the support funds needed to put up livelihood projects that will

not only provide employment but also uplift the poor from poverty and for them to be

able to cope with the day-to-day existence.

CBQP seeks to pursue the following corporate goals:

 PROFITABILITY - Sustain the bank's profitability by:

A. maintaining 10% return on investment;

B. increasing capital build-up to P100M; and

C. maintaining a past due ratio of at least below 10%, and non-

performing loan ratio of below 10%.

 STABILITY - ensure the bank's stability by:

A. maintaining a BSP CAMELS rating of at least 3.5;

B. maintaining a deposit mix of 60% savings and 40% other deposit type;

C. delivering and maximizing customer service for higher customer loyalty

and first preference for CBQP;

D. managing bank processes and procedures in adherence to regulatory

agencies' rules and regulations, and

E. establishing an an organizational culture of honesty, excellence,

professionalism and meritocracy with clear leadership directions.

  GROWTH - achieve bank growth by:

A. establishing branches in growth areas while consolidating current

branches towards better services and products;

B. expanding market share in both deposit and loan products in the

banking industry, and developing quality clients with a quality credit

portfolio ; and

C. utilizing new appropriate technology in the bank's operations, and

upgrading personnel capabilities and competencies resulting in higher

efficiency and productivity.

Organizational Set-up

The members of the Ad Hoc Committee/Interim Board of Directors were

● Mr. Vicente M. Olea, Chairman;

● Mr. Victor Eleazar, Vice-Chairman;

● Atty. Jorge B. Vargas, Secretary;

● Mr. Bienvenido R. Ravida, Treasurer;

● Fiscal Romeo A. Dato, Director;

● Atty. Aristo M. Llamas, Director;

● Mr. Julian A. Panergo, Director;

● Mr. Severino J. Mancenido, Director; and

● Mr. Fernando T. Profugo, Director.

Specific Functions

● Regular Savings Deposit (A regular savings account evidenced by a

passbook.)

● ATM Savings Account (A regular savings account where one’s account

be accessed via ATM.)

● Premium Savings Deposit (A savings account where clients can enjoy

higher interest rates.)

● Time Deposit (Time deposit with a term of 1 year or less. Interest is

earned at the end of the term.)

● Special Savings Account (A special savings account where clients can

enjoy 100% income at maturity date.)

● Easy Check Account (A regular checking non-interest bearing account

with passbook for easy monitoring of transactions.)

● Current Account w/ ATA (A regular checking account that allows you

to enjoy the benefits of both savings and current account.)

● Agri-Production Loan (To finance palay and other food

crops/commodities production.)

● Salary & Other Personal Loan (To finance various financial needs such

as child’s education, medical, expenses, minor house repair purchase of

home appliances or vacation trips.)

● Business Loan (To finance various business expansion, purchase of

equipment, construction, or renovation of commercial property or just

having a standby credit line.)

● Housing Loan (To finance purchase of residential lot, house and lot,

townhouse, or condominium unit; and construction or major renovation of

house.)

● Car Loan (To finance automobile purchase for personal or business use.)

● Easy Cash Loan (To finance immediate financial needs and guaranteed

release within 48 hours.)

● Cooperative Loan (To finance institutional loan for member and non-

member cooperatives and other associations for additional capital or or

purchase of new equipment.

 Areas of Operations distinct from other Banking Institutions

 SOCIAL SECURITY SYSTEM (SSS)

On May 23, 2003. SOCIAL SECURITY SYSTEM (SSS) appointed and authorized

the Coopbank to act as collecting and paying agent of SSS.

The bank and all its branches in different locations has accepted the

contributions for Social Security, and Employees Compensation of SSS covered

members.

It has made remittances to SSS more convenient to the paying

members/individuals. As an accredited bank, SSS also introduced to the bank its

scheme "MAG-IMPOK SA BANGKO PROGRAM" which consists of direct credit to the

Bank of the SSS pensioners monthly pension where the pensioner was required to open

a single savings account at a minimum deposit of P100.00.

This scheme has avoided loss and misdelivery being encountered in the present

payment-by-check scheme.

 WESTERN UNION MONEY TRANSFER

On March 8, 2002. The Bank entered into a Sub-Agent Agreement with PETNET

to offer for sale to the general public WESTERN UNION's Send/Pay-Out Money Transfer

Service. Through this sub-agency agreement, the bank was able to provide additional

service to its 3,100 clients with a total amount of P21 Million (pesos) of pay-out

transfers, particularly in Catanauan Branch covering the Bondoc Peninsula area which

has the biggest number of serviced recipients from senders all over the world.
III. COOPERATIVE BANK OF ILOILO: A THEORY BEHIND ITS CLOSURE

Banks can fail for several different reasons:

 Bank Run

A bank occurs when many people try to withdraw their deposits at the same

time. As much of the capital in a bank is tied up in investments, the bank’s liquidity will

sometimes fail to meet the consumer demand. This can quickly induce panic in the

public, driving up withdrawals as everyone tries to get their money back from a system

that they are increasingly skeptical of. This leads to a bank panic which can result in a

systemic banking crisis, which simply means that all of the free capital in the banking

system is withdrawn.

 Stock Market Positive Feedback Loops

One particularly interesting cause of banking disasters is a similar positive

feedback loop effect in the stock markets, which was a much more dynamic factor in

more recent banking crises. John Maynard Keynes once compared financial markets to

a beauty contest, where investors are merely trying to pick what is attractive to other

investors. There is a profound truth to this, creating an interdependent and potentially

self-fulfilling investment thought process. This can create dramatic rises and falls

(bubbles and crashes), which in turn can throw banks with poorly designed leverage

into huge losses.

 Regulatory Failure

One of the simplest ways in which bank crises can occur is a lack of

governmental oversight. As noted above, banks often leverage themselves to capture

gains despite extremely high risks (such as over-dependence on derivatives).

  Contagion

Due to globalization and international interdependence, the failure of one

economy can create something of a domino effect. In 2008, when the U.S. economy

collapses, the reduced buying power and economic output from that economy

dramatically damaged all economies dependent upon it (which includes most of the

world). This is called contagion.

The emergence of Iloilo as a premiere city contributed to the problem of CBI

because it gave opportunity to commercial bank to do business here. It created unfair

competition because such bank are more stable and can offer better services; such

occurrence decrease the depositors of the said bank.

In the end Cooperative Bank of Iloilo failed to liquidate its assets to pay all

the money owed by their depositors. Furthermore, CBI cannot compensate its bank

asset to the banks obligation incurred. Such mismanagement resulted to the

foreclosure of the bank on March 14, 2012.

Cooperative Bank Of Iloilo Place Under Receivership

On January 30, 2012, Sunstar reported that the Iloilo Cooperative bank was

placed under receivership of the Philippine Deposit Insurance Corporation (PDIC) on

January 20, 2012. The latter took custody of the bank by virtue of a resolution

approved by the Monetary Board on January 20, 2012. The PDIC then took over the

bank on the 24th of January of the same year.

The latest available records as of September 30, 2011, the bank had 2,230

accounts with total deposit liabilities of P129.47million. PDIC said that upon takeover,

all bank records shall be gathered, verified and validated. Valid depositors can only be

paid a maximum of P500,000 net of all obligations with the bank under the maximum

deposit insurance coverage policy.

 By the end of February 2012, PDIC will start to mail payments to the last known

address, of the depositors with valid accounts with balances of P10,000 and below, who

have no outstanding obligations with the bank and who have updated their addresses

with the bank in the past year, and they need not file deposit insurance claims.

Depositors whose accounts have balances of more than P10,000 and have

outstanding obligations are advised to file their deposit insurance claims. The claims

settlement operations were conducted at the bank premises by mid-March of 2012.

The inclusive dates and schedule were announced through notices that were

posted in the bank premises and other public places as well as through the PDIC

website, www.pdic.gov.ph, newspapers and radios.

IV. CONCLUSION
V. REFERENCES

 Bangko Sentral ng Pilipinas. (n.d.). Retrieved August 22, 2018, from

www.bsp.gov.ph:
http://www.bsp.gov.ph/banking/psoc_rb/Rank%20(Total%20Assets).htm

 Banko Sentral ng Pilipinas. (n.d.). Retrieved August 22, 2018, from

www.bsp.gov.ph:
http://www.bsp.gov.ph/banking/directory.asp?paging=next&Start=20&Offset=2
0&BankName=&Address=&InstitutionTypeID=13&submit=Find&ctr=21&i=20

 Coopbank of Quezon Province. (n.d.). Retrieved August 26, 2018, from

www.cbqp.com.ph: http://www.cbqp.com.ph/index.html

 Cooperative Bank of Benguet. (n.d.). Retrieved September 27, 2018, from

cbbenguet.com: http://cbbenguet.com/

 Cooperative Development Authority. (n.d.). Retrieved August 22, 2018, from

ww.cda.gov.ph: https://www.cda.gov.ph/resources/issuances/philippine-
cooperative-code-of-2008/republic-act-9520

 Cooperative Development Authority. (n.d.). Retrieved August 22, 2018, from

www.cda.gov.ph: https://www.cda.gov.ph/frequently-asks-questions-faqs

 FICObank. (n.d.). Retrieved September 11, 2018, from www.ficobank.com:

http://www.ficobank.com/

 Metro South Cooperative Bank. (n.d.). Retrieved September 26, 2018, from
www.mscb.com.ph: https://www.mscb.com.ph/

 Official Gazette. (n.d.). Retrieved August 22, 2018, from

www.officialgazette.gov.ph:
https://www.officialgazette.gov.ph/1990/03/10/republic-act-no-6938/

 Philippine Deposit Insurance Corporation. (n.d.). Retrieved July 27, 2018, from
http://www.pdic.gov.ph/files/ccd/COOP%20BANK%20OF%20ILOILO.pdf