VSUCC now upgraded as a large credit cooperative in Eastern Visayas

The Visayas State University Credit Cooperative (VSUCC) has just been upgraded as a large cooperative by the Cooperative Development Authority (CDA) Regional Office VIII in October 2023 after reaching a milestone total assets of over 100 million pesos for the 2022 audit report.

Established in 1965, VSUCC was first accredited by CDA in 1991 as a micro-credit institution. It grew to a small cooperative in 1995, and a year after that VSUCC reached over 15 million in total assets, which granted them the recognition of medium cooperative status up to the year 2022.

With its unwavering commitment to providing affordable financial services for nearly 60 years, VSUCC has maintained a steadfast and excellent reputation that awarded them as a top medium cooperative in Eastern Visayas in 2022, with CDA acknowledging their strong contributions to the community in providing financial management and assistance during the pandemic.

The steady membership growth of the university’s credit cooperative is a testament to their reliability in managing various financial programs that attract clients all over the country pushing the organization into large co-op stature.

Their primary services include regular and emergency loans, fixed savings and time deposits, various special loans such as; special loan windows with and without additional collateral, special loans for the livelihood project for the poor, and enhanced loans to mitigate the crisis.

Dr. Nerelito Pascual, VSUCC’s Manager and Management Committee chairperson expressed his delight in this great accomplishment of the cooperative, promising further improvement in delivering quality financial services.

Given during the 2023 Cooperative Month celebration with the theme “Adlaw han Pagkilala,” at Tacloban City, VSUCC is now officially established as a large cooperative, the highest category recognized by the credit cooperative governing body of the country.

As of November 30 last year, VSUCC already has around 900 active members with its membership base continuously growing mainly because of the organization’s stability even during the pandemic plus the addition of new financial services and loan windows offered to its members.

• Prev
• Next