What is Baguio-Benguet Community Credit Cooperative (BBCCC)?
The BBCCC is a private voluntary movement - cooperative movement - one of the first three cooperatives registered under R.A. No. 2023, the non-agricultural cooperative law. The BBCCC was organized by 15 teachers of Saint Louis University (then a College) as the Baguio Teachers Credit Union, Inc. on October 11, 1958. It was registered with the Cooperatives Administration Office (CAO) on December 23, 1958.
The Baguio Teachers Credit Union, Inc. amended its by-laws and name on December 10, 1976. It adopted its present name, Baguio-Benguet Community Credit Cooperative Inc. to accommodate and serve the community of Baguio and Benguet. From its humble beginnings in 1958, the BBCCC has shown spectacular success which is recognized and emulated. It has been a consistent awardee for achievement in Region 1 and in the Cordilleras. In 1985 and in 1992, it was adjudged as the Most Outstanding Credit Cooperative (Community Type) in the entire Philippines.
In November, 2003, BBCCC, as a community-based type of coop, has been awarded as number one nationwide in terms of net worth or in terms of members' investment in their cooperative. It has shown the capability of the cooperative movement as an instrument of self-reliance, self-government and self-sufficiency.
What are the Qualifications to Become a Member of BBCCC?
Membership in BBCCC is open to the following:
Any natural person who is a citizen of the Philippines, of legal age and with the capacity to contract;
Any person at least 18 years of age with visible means of income through his own independent work or effort.
Possesses a common bond of association;
Resides or works in the area of operation (BaguioCity and Benguet Province);
Completes the prescribed Pre-Membership Education Seminar (PMES) which is held every 1st Sunday of the month;
Can make use of the services of the cooperative more particularly the savings and loaning services and other allied services relative thereto.
How Can You Become a Member of BBCCC?
Before you are allowed to attend the required Pre-Membership Education Seminar (PMES) scheduled every first sunday of the month unless otherwise re-scheduled due to unavoidable circumstances, you must:
Attend the personal interview at the BBCCC office from 8:30AM - 5:30PM, Mondays to Saturday (except on declared holidays).
Bring the following papers and documents:
a. Certificate of Employment (for employees) indicating: monthly salary, date employed and status of employment;
b. Business Permit (for self-employed);
c. Any other proof of source of income if not an employee or self-employed, e.g. pension, allotment, remittances, etc.
- Pay the initial fees (Seminar Fee = P300 and Membership Fee = P200).
- Two (2) copies 2"x2" ID pictures, one (1) copy 1"x1" ID picture and ID pictures of children
- Copy of your birth certificate, your children's birth certificate (if applicable) and marriage certificate (if applicable);
Every member shall have the following duties:
- Pay the installments on capital pledged as they fall due and participate in the capital build-up through regular savings;
- Patronize the business of the cooperative;
- Participate in the parliamentary affairs;
- Obey the rules and regulations of R.A. 9520 and its implementing rules and regulations, the by-laws of BBCCC, the decisions of the General Assembly, the Board of Directors, and policies and decisions that may be promulgated by the Cooperative Development Authority; and
- Promote the aims and purposes of the cooperative, the success of its business, the welfare of its members and the cooperative movement as a whole.
Every MEMBER in GOOD STANDING (MGS) shall have the following rights:
- Participate in the deliberations during membership meetings;
- Vote on all matters brought before the assembly;
- Seek any elective position, subject to the provisions on qualifications as provided in the By-Laws;
- Receive interest on his/her deposits and share capital in the cooperative, and patronage refunds, if any; and
- Inspect and examine the books of accounts, the share register and other records of the cooperative (subject to certain limitations) during office hours and to exercise other rights and privileges of membership.
- a. Basic Fixed Deposit/Share Capital
- (Minimum subscription of a member to the share capital is P5,000 which entitles the member to interest on his capital depending on the net surplus.)
- b. Supplemental Fixed Deposit (Savings)
- (Operates like a savings deposit)
Supplemental fixed deposits for members and their dependents earn interests.
Minimum deposit is P1,000.
- c. Term Fixed Deposit
- (Operates like a time deposit)
Earns higher interest. Minimum deposit is P3,000.
- d. Petty Cash Loan (PCL)
- New members - P1,000/ Old members - P1,500
- e. Regular Loan (RL)
- Two or three times the amount of the member's share capital. This will depend on the membership status.
- f. Educational Loan (EL)
- Maximum of P20,000.
- g. Special Service Loan (SSL)
- For the purchase of appliances, furniture, construction materials etc.
- h. Special Contingency Loan (SCL)
- Maximum of P5,000
- i. Hospitalization and Emergency Assistance Loan (HEAL)
- Maximum of P15,000
- j. Pre-Need Loan
Other Services Offered:
- Cooperative Housing Service. Lot availment at the BBCCC housing project.
- Grocery Service. New members - P1,200 worth of groceries and one (1) cavan of rice; Old members - P2,000 worth of groceries and one (1) cavan of rice.
- Lodging Service. Minimal fee to help defray expenses like water, electricity, beddings etc.
- Seminar Halls/Training Center. With PA and AV materials. Maintenance fee to help defray expenses.
- Death Aid/Damayan. For the death of the member, member's spouse, member's parents, or children.