Philippines: REMICCO Empowers Mindoro Communities Through Faith-Guided Cooperative Finance
In Mindoro, west Philippines, where faith deeply shapes daily life and community solidarity remains essential for survival, a quiet yet transformative movement in cooperative finance is reshaping lives. At its heart is the Responsible and Empowered Mindoreños Credit Cooperative (REMICCO)—a living testimony to how faith-guided finance can foster dignity, responsibility, and hope.
“REMICCO was born out of a simple but powerful belief—that when people come together in faith and trust, even limited resources can multiply into opportunities,” said Fr. Jimson H. Ruga, PhD, Chair of the Board of Saklaw Foundation, Inc. “We did not start with much capital, but we started with shared values.”
Rooted in Faith, Built by the People
REMICCO was organized in 2018 in response to the growing socio-economic challenges faced by working families in Oriental and Occidental Mindoro. From the outset, it was envisioned not merely as a financial institution but as a people-centered cooperative rooted in service and solidarity.
During a pre-registration seminar on 3 February 2018, 79 founding members committed their trust and resources, raising an initial capitalization of ₱711,000. The cooperative was officially registered with the Cooperative Development Authority (CDA) on 25 April 2018.
“For many of us, joining REMICCO was an act of faith,” shared one founding member. “We believed that by helping one another save and grow, we could free ourselves from debt traps and uncertainty.”
Despite early challenges—including limited capital and regulatory demands—the cooperative gradually earned the confidence of its members through discipline, transparency, and servant leadership.
A Vision Anchored in Gospel Values
REMICCO envisions becoming a leading financial cooperative in Oriental Mindoro while remaining socially responsible to the wider community. Its mission integrates financial services with personal and spiritual formation.
“Our goal is not just to lend money,” Fr. Ruga explained. “It is to form responsible stewards—people who understand that financial growth must always go hand in hand with integrity, accountability, and concern for others.”
Inspired by St. Mark the Evangelist, symbolized by the Winged Lion, REMICCO upholds courage, strength, and moral purpose in all its undertakings.
Excellence Recognized, Trust Affirmed
REMICCO’s commitment to good governance and cooperative excellence has earned regional and national recognition. In 2023, it was named Most Outstanding Cooperative (Small Category) in MIMAROPA, and later emerged as 1st Runner-Up at the CDA National Gawad Parangal. In October 2025, it again received regional recognition, this time in the Medium Category.
“These awards belong to our members,” a REMICCO officer said. “They reflect discipline in savings, honesty in leadership, and unity in purpose.”
Financial Strength with a Human Face
Beyond positive financial indicators—such as a strong capital-to-asset ratio, low liabilities, and stable returns—REMICCO’s impact is most visible in the lives it touches.
“Through REMICCO, I was able to send my child to school without borrowing from loan sharks,” shared a member-beneficiary. “It gave us peace of mind, not just financial support.”
The cooperative follows responsible lending practices guided by the 5Cs of credit – Character, Capacity, Capital, Collateral, Conditions - ensuring sustainability while responding compassionately to members’ needs.
Currently, REMICCO has 270 active members, with total assets amounting to ₱27,638,601.52 and paid-up capital of ₱21,073,000, according to Frederick Villanueva, Cooperative Manager. Fr. Ruga serves as Chair of the Board, with elected members Beverlie Panganiban, Marjorie R. Mendoza, CPA, Dr. Iluminada Martin, and Nestor Salvacion.
Faith in Action Beyond Finance
True to the cooperative principle of concern for community, REMICCO extends its mission beyond financial services. Its initiatives include elderly wellness programs, outreach to indigenous peoples, humanitarian assistance to persons deprived of liberty, and support for families in crisis.
Environmental stewardship is likewise integral, expressed through tree planting, mangrove reforestation, and coastal clean-up activities, echoing the Church’s call to care for creation.
“Faith must be visible in action,” Fr. Ruga stressed. “If our cooperative grows but our community suffers, then we have failed our mission.”
A Ministry of Hope
As REMICCO looks ahead, it plans to expand membership, enhance digital services, strengthen risk management, and deepen its social programs. Guided by Gospel values and cooperative principles, it remains committed to inclusive and responsible growth.
In a world often driven by profit alone, REMICCO stands as a reminder that finance—when rooted in faith and solidarity—can become a ministry of hope, empowering families, strengthening communities, and helping Mindoreños build a shared future.
