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Tuesday, October 9, 2007

100,000 !

FICCO registers 100,273 members as of the end August 2007.

The significance of this magic number is better appreciated if compared to certain benchmarks. Consider these: our coop has –

Ø 10,966 more members if compared to the number as of the end of 2006;

Ø 13,956 more members if compared to what we have one year ago;

Ø 27,504 more than the level three years ago; and

Ø 76,245 more if compared to the total as of the end of the year 2000.

For a coop that started with only 17 members in 1954, with a capability of convincing only 160 more after 16 years of existence, and has to labor hard to increase its number to almost 1,000 by 1980, and to 6,000 by 1990, topping the 100,000 mark is indeed a remarkable achievement. The following graph better illustrates this membership growth trend

To whom should kudos rest for this achievement? On top of the list are the thousands of satisfied members who convince their relatives, friends, neighbours, office mates and acquaintances of the values that enhance their lives through FICCO membership.

Of course, the efficiency, effectiveness, transparency and sense of stewardship that the officers and staff practice in running the affairs of the coop made certain that the satisfaction level of the members is maintained.

Also playing highly important role in the membership drive is the contingent of EDCOM (education committee) members who are always at the forefront of the recruitment effort. Serving as models of members in good standing, these volunteer educators brought to light the many who were in the dark of the opportunities that abound for people who are members of FICCO.

Before everyone gloat at this achievement, let us all consider that our number is still a small fraction of the adult population of the areas that FICCO now operates. There are still thousands out there who are still in the clutches of loan sharks. They too deserve FICCO membership.

Let us also try to minimize the resulting inefficiencies brought about by our number. Let us improve our systems, open more business centers and update our technology. With our P 2.2 billion assets, and 100,000 members, there are really no stumbling blocks that cannot be surmounted.

It is not a pipe dream to think that in four more years, FICCO will have 200,000 members and P 5.0 billion in assets. (ibdaba)

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