FOREWORD
COOPERATIVE PROFILE
INTRODUCTION
Amidst the roaring sounds of gun shots triggered by a mandate wage war against insurgents as indoctrinated by a stone cold principle of divide and conquer to protect the interest of the sovereign republic are intellectual men in uniforms equipped with profound ideologies of solidarity and social justice. Men who envisioned waging war for the cause of alleviating poverty as the utmost strategy in conquering the common adversity nowadays.
Resulting thereof to the birth of the organization that helped in addressing the predicament of these men and the community where it belong whose families has long been craving for a brighter and better way of living. An organization geared for the realization of its vision and mission of people empowerment guided by discipline, equality and cooperation. An organization fully participative and supportive in strengthening the cooperative sector through its active involvement in the chapter, league, and federation of affiliated in the Asian and World apex. An organization known by known by the AIP Institution, by the Credit Unions, by the Nation, by the World, and otherwise known to us and to all as the…
FIVE STAR CREDIT AND DEVELOPMENT COOPERATIVE
EVOLUTION
The cooperative evolved last March 22, 1982 in Camp Aquino, San Miguel, Tarlac with an initial capitalization of P 5,000.00, duly registered with the Bureau of Cooperative in Region III as the Camp Aquino Credit Union, Incorporated(CACUI). After nine (9) months of operation, CACUI marked the P100,000.00 asset margin, but it consequently became inactive for a period of time when majority of its incorporators retired from military service. Thereby withdrawing their share capitals and leaving the cooperative with only P27,000.00 assets and 150 waning membership with delinquent accounts.
With a burning desire to redeem the cooperative from extinction, a General Assembly was called for the selection of new sets of directors in the year 1985, initiated by Major Artemio M. Jose the then Commanding Officer of the 6th Finance Service Unit, Philippine Army. Headed by Maj. Jose, the elected officers energized the dying CACUI and intensified membership promotion and advocacy that triggered it’s growth from a mere P27,000.00 to a sudden P3.0M in assets, giving the cooperative full operational swing.
Due to the transfers made by the Army in Region I, II & III, particularly the 5th Infantry Division (5ID), CACUI was first transferred at Upi, Gamu, Isabela and soon at the headquarters of 5ID, Camp Melchor F. dela Cruz, Echague, Isabela in 1988. Since 5ID again transferred and was permanently located at Upi, Gamu, Isabela, CACUI was again transferred for the last time during the year 1990.
Then last August 6, 1991, CACUI was confirmed at Cooperative Development Authority (CDA) in Quezon City with confirmation number MLA-C819 as the new Camp Aquino Integrated Cooperative, Incorporated (CAICI). Then again renamed as the Five Star Credit and Development Cooperative, Incorporated (CREDECO), with amended Code of By-Laws by virtue of substitution last April 13, 1993 duly registered by CDA, Quezon, City.
Now, FIVE STAR CREDIT AND DEVELOPMENT COOPERATIVE is already operating nationwide with a National Home Office directly supervising the operations of the different Regional Branches.
The National Home Office is located at No.65 Sitio Breeding, Maharlika Highway, Upi, Gamu, Isabela. Likewise, the Regional Branches with corresponding addresses are Northeastern Luzon Regional Branch, Camp Melchor F. dela Cruz, Upi, Gamu, Isabela.Luzon Regional Branch, Barangay Militar, Fort Magsaysay, palayan City,Visayas Regional Branch, Camp Lukban, Maulong, Catbalogan, Samar, and Northern Mindanao Regional Branch, Malacay Building, Patag Crossing, Cagayan De Oro City.