BRIEF HISTORICAL PROFILE
The year 2022 marks the 40th Annual General Assembly of the Nueva Vizcaya Alay Kapwa Multi-Purpose Cooperative (NVAKMPCO) since its official registration in 1982. It was founded in June of 1975 as an organization and through the years, the Cooperative experienced long and challenging, but enduring and fruitful years of operation.
Every member of the NVAKMPCO is now benefiting and reaping the fruits of labor of its organizers, and the results of the collective effort and diligence of its entire administrators, then and now. The continuous patronage of all NVAKMPCO members to the Cooperative’s products and services are evidenced by the success of all the business divisions of the Cooperative.
Also, the NVAKMPCO now have 2 branches – the NVAKMPCO Bambang Branch at Almaguer South, Bambang, Nueva Vizcaya which was issued its certificate to operate in 2017 and the NVAKMPCO Cordon Branch at Brgy. Quezon, Cordon, Isabela which was issued its certificate to operate this year, CY 2022.
The humble beginnings of the Cooperative started when 10 educators from the Solano North Elementary School headed by Mrs. Valentina Salunat-Tomas decided adding up their financial resources to provide monetary assistance to anyone who is in need with the hope of helping fellow colleagues, friends and relatives avoid being caught up in circumstances brought about by high interests from moneylenders.
On March 1, 1975, the group was organized wherein these 10 teachers applied their pooled capital amounting to P 2,000.00 to restructure their individual loans at the Rural Bank of Solano, Rural Bank of Bagabag, Rural Bank of Villaverde and Rural Bank of Bayombong and used the fund to establish the Cooperative which was first named Alay Kapwa Organization.
Due to the gradual influx of support and interest from the locals through the years which in turn resulted to the growth of membership, the organization was registered with the Bureau of Cooperatives as Nueva Vizcaya Alay Kapwa Credit Cooperative in 1982, with members totaling to 524 and a total share capital of over Php 179,000.00.
By 1991, there was already an impressive increase in membership to 1,657 complimented by the accumulation of total share capital to Php 6,334,686. With the Cooperative already at a millionaire status, membership steadily expanding and share capital build up progressively growing, the organizers decided to change name and registered with the Cooperative Development Authority as Nueva Vizcaya Alay Kapwa Multi-Purpose Cooperative in April 28, 1993. The conversion to a Multi-Purpose Cooperative reflected the organization’s diverse programs and services through its businesses.
The Agri-Trading was the first business opened in 1992 adding to the Savings and Lending Division (Credit Division) in answer to the demand of the increasing farmer members of the cooperative. In 1993, the Palay and Corn Trading, now the Grains Center was established as trading center for the farmer members' produce. In 1995 the General Merchandise (Grocery) was opened at the Solano Public Market as source of the daily needs of the members and in 1995, the Cooperative set up the Appliance Traders and the Communication Center in 1996 which catered various appliances, communication devices and accessories to answer to the modernization of living standards and technology.
With the turn of a new chapter in the history of the NVAKMPCO, the 5-storey one-stop shop building which was partially constructed in 2008 was finished in 2017. Now it houses its own hotel, restaurant and convenience store with an in-house gym for members and the public.
As of December 2022, the Cooperative has 25,000 members coming from different sectors: farmers, employees, entrepreneurs/businessmen, professionals, OFWs and government leaders including the Governor, local government executives among others, representing almost all of the fifteen (15) municipalities with 275 barangays and a total area of 437,880 has. of Nueva Vizcaya.
Also, the NVAKMPCO recorded a total assets of Php 948,610,154.00 and a net surplus of Php 14,021,581.87 as of December 31, 2021.
Furthermore, to be able to provide a strong support to the increasing membership, the NVAKMPCO now offers diverse loan windows and services from its main business division, the Savings and Lending, in addition to enhanced services provided in all its other business divisions and branches. Also, members are provided benefits such as medical and mortuary assistance, birthday gift, snack allowances during assemblies and others.
The NVAKMPCO’s administration today is composed of 13 Board of Directors to include the Treasurer and Secretary and 12 Committee Officers and is lead by Dir. Arnel G. Domincel, Chairperson of the Board of Directors. The NVAKMPCO personnel on the other hand is composed of 100 employees headed by Mrs. Corazon G. Alesna, General Manager.
Looking back at the humble beginnings of the NVAKMPCO, the Cooperative becoming a multi-million enterprise was beyond the wildest dreams of its founders. Through quality service, it has gained the full trust and confidence not only of its members but the entire community as well. It is the vision of the Cooperative and will continue to remain as a strong, viable and productive institution geared towards the upliftment of the quality of life of its members and the society as a whole.
