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Monday, April 23, 2007

Coop Bank of Mis Occ Now Reopens Under New Management

Finally the long wait is over. On April 16 the Cooperative Bank of Misamis Occidental (CBMO) now reopens under new management and new name the "Misamis Occidental Cooperative Bank (MOCB)". The First Community Cooperative (FICCO) leads the coalition of cooperatives from Misamis Oriental to rehabilitate the bank almost 4 yeaars ago.

With this historic moment of the Philippine Banking Industry that a cooperative bank is rehabilitated by a coalition of cooperatives the President of the Philippine Deposit Insurance Corporation (PDIC) Mr. Michael Osmena takes the opportunity to fly to Mindanao and witness the reopening of the cooperative bank. Other distinguish guest on the opening day are from the Banko Sentral Ng Pilipinas, the local official including the Mayor, and the local bank officials. Above all these, the board of directors of the MOCB is thankful to the public's acceptance.

Earlier the MOCB conducted their General Assembly on March 5 and elected a new set of BOD, the elected chairperson of the MOCB is Mr. Isagani Daba; vice chair Atty Isidro Lico; and Board members; Melia Aso (FICCO); Roy Dino Tenaja (FICCO); Vicente Rana (FICCO); Dave Pajaron (PFCCO); Johnny Abangan (Del Monte Consumer); Fr. Timoteo Ruben; and of course me.

With this new set of BOD the public is hopeful for the success of the bank's rehabilitation. With much expectation from the locale, we in the Board cannot guarantee but will make every effort to turn everything upside down. The FICCO's practice of prudence and frugality will be applied in leading this bank. One thing the board can assure the public is that with the FICCO's leadership in the cooperative movement we can make everything happen.

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