Why I Keep My Money in FICCO

This is a sound call to everyone to raise their financial IQ. I am reminded of the Happy Savers’ Club (not sure if that was how it was called) when we were younger with banks enticing kid to maintain accounts with them. I seriously think that our educational system does not introduce us to a wide financial vocabulary. I think entrepreneurship should be taught in grade schools.

I think so too, Dred. I am actually encouraging my children to sell items in school! I bought stickers for my daughters and been teaching them that they can earn money from what they have. Pascalis is actually learning how to trade her stuff for other things!

That’s very good training. I too had classmates who were early entrepreneurs selling homemade polvorons, and what not. They turned out to be among the most successful in the batch.

Hello ka-ficco and the coop!!! I attended the seminar to become a ficco member sometime in the year 2007. I made my first loan after 5 months of being a member, but this is not a regular but a loan against deposit (LAD) instead. I paid it for 4 months and the interest was just 8% per annum and a 1% for service charge. Now, it is already 2009. More than a year ago. I keep saving small amounts in ficco for my education and if not to be able to help my brother or sisters finish college. Now I wonder if how much is their interest at the moment since I could not go to ficco office, Englad is too far away.lol

I don’t have worked at the moment, but very desperate to keep my brother on his last year in his education course. Is there someone there to help me? I want to know the interest rate for regular loan, and the service charge just to be keep updated. Thank you!

halo ka FICCO..I’m a ficco member also 3 years now and it is very helpful in times of financial problems. Ficcoc is now bigger and bigger in our society..

Hi Elizabeth, thanks for the comment. The main goal for this entry is to educate more people here in Mindanao that FICCO is a reliable institution. I would gladly get back to you re: current loan rates and service charge. Just send me a message using the contact form at the right side of the website, or you can accessed it here. And don’t forget to leave me your email address so I can send you the rates soon. Have a great day.

Hello Alma, Thanks for the immediate reply to my comments here. Fortunately, I was able to text one of my friend in CDO and asked him the Telephone Number of FIcco Main Office, Corrales STreet, Cagayan de ORo City, then i called the number and able to get the interest at the moment. What a surprise!!! Ficco did not increase their interest rate despite of the falling economic condition at the moment. ITs really Great!!!

Today, because of the site you gave to me, naka access ako sa webpage in ficco.at agad nag enrol ako. I want to ask questions from them and communicate with the Ficco whenever I could have something to inquire or put some money in my savings there. )

To all who can read the message, join the FAmily of Ficco!!! and save your money!!!

I couldn’t agree more.

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Elizabeth
April 25th, 2009 5:56 pm – Reply

Hello ka-ficco and the coop!!! I attended the seminar to become a ficco member sometime in the year 2007. I made my first loan after 5 months of being a member, but this is not a regular but a loan against deposit (LAD) instead. I paid it for 4 months and the interest was just 8% per annum and a 1% for service charge. Now, it is already 2009. More than a year ago. I keep saving small amounts in ficco for my education and if not to be able to help my brother or sisters finish college. Now I wonder if how much is their interest at the moment since I could not go to ficco office, Englad is too far away.lol

I don’t have worked at the moment, but very desperate to keep my brother on his last year in his education course. Is there someone there to help me? I want to know the interest rate for regular loan, and the service charge just to be keep updated. Thank you!

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Alma
April 28th, 2009 3:56 pm – Reply

Hi Elizabeth, thanks for the comment. The main goal for this entry is to educate more people here in Mindanao that FICCO is a reliable institution. I would gladly get back to you re: current loan rates and service charge. Just send me a message using the contact form at the right side of the website, or you can accessed it here. And don’t forget to leave me your email address so I can send you the rates soon. Have a great day.

Hello I am the admin of Philippine Cooperative Blog. I am also an employee of FICCO

I would like to express my thanks to your positive comments about FICCO.

You are welcome Toti! Kudos to Ficco for the wonderful service. Keep up the great work.

Hello Totti, just wonder. Due to the existence of Gcash and Smart money pera padala, I wonder if ficco would like to avail this services by making its branches as Gcash Pay-In and Pay out/or other may call it cash in/Cash Out. Becasue the remittance fee is very low compared to any bank, this will make the people become more interested to join ficco because they offer many services.

I also have this in mind if ficco had already this, considering the fact that they even have a western union pay out services. Do you have any idea? Does ficco sell smartmoney load and gcash? if so, please let me know.thanks!

hello there!

i would like to inquire how i could open or be a ficco member, i am now in columbus ohio but i want to save money there

Thanks for the inquiry Bem! I have forwarded your inquiry to someone in FICCO. Please let me know if you have heard from them so I can personally get the necessary requirements for you in the FICCO office nearest my place. I am happy you are taking the chance in saving your money through our local cooperative. By keeping your money in FICCO you are also helping others.

i will definatly give it a try

hello everyone! I am Candice and I am a ficco member since I was in college sometime in 1999. My mom who has been one of the first members of FICCO in the 80′s, introduced it to us. I would like to share a success story with the help of FICCO. This ccoperative has been a great blessing to our family beacuse it gives us the oppurtunity to borrow capital to begin a business. We came from a poor family, my father was a caretaker at a cemetery and my mother was a dressmaker, but beacuse my parents are “madiskarte sa buhay” and good payors, they were able to start a small business and made it grow with the help of FICCO. My parents were able to send their 4 kids to college to good schools. I am now a medical technologist working in Texas, USA. I am still a member until now and continues to increase my share capital. I also recommend it to my friends in the philippines and here in the US.

I opened my first FICCO account when I was 7. I deposited P20 every now and then. Since then FICCO has grown to what it is now and I’m proud of them! I hope more and more Filipinos think of saving even small amounts every month rather than overspending.

FICCO is truly one of the most reliable multi-cooperative here in Mindanao. More Filipinos should definitely consider putting their money in FICCO and make their money work and help others as well. Thanks for the comment, Grace. You have time to share your finance experience as well? Send me some topics you want to write about and lets post it here!

I have few friends from the Philippines and been telling me about a cooperative that made a great help in their lives and I am glad to see such cooperatives like this teaching their communities to save their money and gain the fruit of it.

Hi Michael! Thank you for the comments. You are right, cooperatives continue to crop around the country, and although FICCO has helped alot of its members, there are also alot of fly by night cooperatives here who victimizes the local community.

Good day! i just want to ask if i could still be back as Ficco members since i already stop 2 years ago? i want to open again my account.

Hi Mary Jean… I am not too sure about the membership rules but I think its safe to say that your membership may have been categorized as dormant already. But I think there is a way to salvaging your membership including the years you have been active. Probably you just have to pay some sort of back membership fees plus penalty.

But needless to say, I suggest you visit your FICCO office now and make an official inquiry! Do not waste anymore time.

Thanks for your share, it is useful.

i just want to ask how much is the time deposits interest rate in ficco?is it monthly interest?

thanks Alma. i already settle my account one month ago. i attend a seminar and everything was okey. thank you.

Hey Mary! I am glad things worked out for you.

Hi. Just like commercial banks, FICCO offers varied type of time deposits. What I mean is there are options: ie. 1- month time deposit, or 2-months etc, goes the same with interest.

hi! can someone give the interest rate /month/year for loan worth P900,000 ,payable for 3-5 years ty ..

hi, i am member of FICCO but i live outside Pinas.. do have updates now?

Hello Pepper. I think you could arrange for a international TT from your bacnk account to Ficco. There should be a way. Another way, is you could get one of your relatives to make the deposits for you.

hello Baron, sorry I do not have that information. I suggest checking out your nearest Ficco.

Mary Jean– great to know that everything went well with you and Ficco. Win-win!

Hi the interest would depend on the duration of the time deposit.

hello maam, i would like to know more info regarding time deposite, because its my first time to transact with ficco if ever should open an account with this bank….

ok, what would be the requirements to comply maam?

Hello Engelberto,

As far as I know FICCO requires a photocopy of your ID (passport, or SSS — mainly government issued identification) and 1 x 1 picture (not so sure about this– but this is banking protocol already so be ready with a couple of copies).

FICCO is a membership cooperative, BUT it accepts deposits from non-members.

maam, i would like to know more information regarding time deposite because this is my first time to transact if ever im going to open an account with this bank…

what should be the requirements that i should comply? thank’s

why don’t you include the MBA in which you gonna pay 100pesos per month? really sucks!

I’m planning to start saving at FICCO, I would like to know how much is the interest rate of its savings account?

Downside of FICCO:
1) Loan interest is diminishing “yearly” and not monthly.
2) I don’t understand their regular deduction for death benefits for members?  At time i get deducted for Php 100.00
3) Dividends are distributed yearly whiler other coops do it quarterly.
4) You can’t avail of maternity benefits if you’re already pregnant when you reported it?  You have to declare your plans of becoming pregnant first??

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its my 1st. time joining this.actually my husband s the one member

 my name is rosel and I would like to know how much is the interest rate of its savings account?

i just want to ask because i am working abroad and i want to transfer my account to my father?is it possible? what are the requirements needed?