How Far Can A Rolling Piso Go?
“The more generous we are, the more joyous we become. The more cooperative we are, the more valuable we become. The more enthusiastic we are, the more productive we become. The more serving we are, the more prosperous we become. “
– William Arthur Ward
Way back 1992, a union of local farmers from Salvacion West District Sorsogon was first formed and started an association called “Pagoropod” which is a bicol term for camaraderie. Hoping to accumulate more capital, every member contributed a peso each day thinking that that “piso’ will lead them to somewhere else. Indeed, that peso saved each day was the “game changer” for them.
Assisted by the Department of Agrarian Reform, the Pagoropod association was introduced as auto saving and fund-raising last September 25, 1992. This association came up with various idea to earn and grow their money. They put up a consumer store that served as their main business way back then, and established the copra trading. On March 2001, the association was registered with the Cooperative Development Authority (CDA) and is now known as Salvacion Farmers Development Cooperative or SAFADECO. Seen to be able to build and stand up without asking or borrowing from other financial institutions,
Assisted by the Department of Agrarian Reform, the Pagoropod association was introduced as auto saving and fund-raising last September 25, 1992. This association came up with various idea to earn and grow their money. They put up a consumer store that served as their main business way back then, and established the copra trading. On March 2001, the association was registered with the Cooperative Development Authority (CDA) and is now known as Salvacion Farmers Development Cooperative or SAFADECO. Seen to be able to build and stand up without asking or borrowing from other financial institutions,
SAFADECO was chosen as partner under the MiCoop@ARAs – a program under the partnership between DAR and NATCCO Network wherein the chosen cooperative was given the opportunity to establish its own Savings and Credit Office and a credit line of 10M pesos. This has been the start of evolution and growth of SAFADECO.
In the span of ten (10) challenging yet wonderful years since SAFADECO started its Savings and Credit Office, it became large cooperative from a micro cooperative in 2012, serving more than eleven thousand (11,000) members all over the provinces of Sorsogon, Albay and Camarines Sur. No less than Assec. Vidal Villanueva dubbed SAFADECO as the “fastest growing cooperative” in the Bicol Region. Its membership is diverse and composed of different people from different walks of life including the MSME’s, and professionals.
At present, that “piso” has become millions as SAFADECO now has 165M in asset. And that “piso” continue to roll farther. From a small barangay in Sorsogon, SAFADECO now has 9 branches, 5 Coop marts, more than 100 employees, and serving thousands of members. Indeed, the rolling “piso” gets farther, bigger, and stronger.
Our history
20 years as a cooperative – stronger, capable, and more determined. This is SAFADECO, committed for the empowerment of it members and the community.