SP accredits FICCO in LSB

THE 20th City Council during its regular session Monday presided over by Vice Mayor Jocelyn B. Rodriguez, adopted a resolution accrediting the First Community Cooperative (FICCO) for purposes of its membership in the local special bodies (LSB) pursuant to DILG Memorandum Circular No. 2022-083 and Article 64, Rule XIII of the Rules and Regulations Implementing the 1991 Local Government Code.

FICCO, formerly called the Ateneo Credit Union, was organized by 15 pioneers on July 8, 1954, through the inspiration of Rev. F. Masterson, S.J. Its incorporators, mostly faculty and other personnel of the then Ateneo de Cagayan, now Xavier University started with total deposits of P26.30.

Today, its membership has grown and now includes teachers, market vendors, businessmen, drivers, farmers, bank employees, soldiers, executives, laborers, and professionals from all over the city.

The Gavel learned that in 1977 and 1978, FICCO was recognized by the government as “The Most Outstanding Community Credit Cooperative in Region 10”.

The legislation was reviewed and endorsed by the committees on planning, research and innovation and people’s organization accreditation and on laws and rules both chaired by Councilor Ian Mark Q. Nacaya.