About SOEMCO

Skeptics were saying more than a decade ago that cooperatives cannot thrive in Socorro, Surigao del Norte. Nevertheless, the SOEMCO members knew that Dr. Jose P. Rizal had met exactly the same apprehensions more than a century ago when he brought out to his friends and associates in the Propaganda Movement the idea of organizing cooperatives in the Philippines, hoping to replicate in his beloved homeland the ideology of cooperativism espoused by Robert Owen and Dr. William King and put into practice by the Rochdale Pioneers which served as a catalyst in transforming European countries into economic titans.

SOEMCO was organized on May 27, 1996 by 51 Socorro municipal government officials and employees who pooled their resources to put up an initial capital of PhP 33,500 and operate a consumer's store and later on, a credit and savings operation. Since then, and with the opening of membership to the community in July 18, 2004, SOEMCO rose as one of the most viable cooperatives in Caraga Region, with its influence reaching far and wide both in the domestic and international arenas.

Its performance had soared to tremendous heights with a Membership of 7,072 served by 6 branches; Share Capital of PhP 65.4 Million, Deposits of PhP 43.3 Million; Net Surplus of PhP 13.8 Million, and Asset of PhP 347.1 Million as of 2011.

SOEMCO opened branches in Dapa, Siargao Island last July 2, 2009; in Surigao City on September 19, 2009; in Alegria, Surigao del Norte on September 20, 2011 as well as in Claver, Surigao del Norte last May 28, 2011. In January 2010, we had established a Head Office at Navarro, Socorro, Surigao del Norte paving the way for the operationalization of the Socorro Branch.

In the field of Allied Services, the co-op had strengthened and expanded the SOEMCO Consumers Store; implemented the Barangay Food Terminal (Barangay Bagsakan Center) Program and Farm Tractor and Corn Mill Projects in partnership with the Department of Agriculture and; the Socorro Integrated Coconut Processing Facility under the Strengthening the Agro-Industrial Sectors in Bicol and Caraga (SAIS-BC) Project funded by the Agencia Espanola de Cooperacion Internacionale para el Desarollo (AECID).

Co-ops can flourish in this part of the country if members and leaders alike are determined to transform visions into reality.

www.soemco.coop

 

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For more Information:
913.70.11-15 loc.330 and 315
912.54.10 (telefax)

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Mail your Documents to:
NATCCO Network
c/o Member Relations and Networking Group
227 J.P. Rizal Street Proj.4 Quezon City 1109

We are now 822 in the NATCCO Family, and still GROWING!

Let's Welcome New Members for 2016!