A week after bagging the ACCESS Silver Brand, Tagum Coop received the FOCCUS (Finance Organizations achieving Certified Credit Union Standards) Platinum Achievement Award, the highest recognition bestowed by Model Cooperative Network (MCN).
The award was handed during the 10th FOCCUS Awards Night on September 17 at the Davao Convention and Trade Center, Davao City attended by 13 FOCCUS cooperatives in Mindanao and Visayas.
Tagum Coop snatched the Platinum award after accomplishing “highest level of financial ratios in its savings and credit operations”
Furthermore, the award cited assurance on “safety of members’ money, competitiveness in delivering quality financial services and sustainability of operations in the years to come”.
This after careful validation was made by two auditors from MCN in August at Tagum Coop Main Office where documents submitted underwent thorough scrutiny.
In validating the documents, the validators used the PEARLS standards as indicated in the Model Credit Union Building (MCUB) methodology of the FOCCUS Brand.
PEARLS stands for Protection, Effective Financial Structure, Asset Quality, Rates of Return and Costs, Liquidity, Signs of Growth.
On August 26, an exit conference took place at the TC Boardroom where the validation results was bared showing within and above standard ratings accomplished by Tagum Coop.
“Overall, you (Tagum Coop) did very well” Ms. Rhoda Ruth Pillerin, MCN CEO, said in the conference.
In the awards night, Tagum Coop officers and the management led by Chairperson Monica L. Salido and General Manager Juris D. Perez were in full force to receive the award.
Chairperson Salido noted the “unified efforts of the officers, employees, and members” which have contributed to the achievement of the award.
She also thanked the MCN and all its member-cooperatives for the recognition assuring them that Tagum Coop “would continue to uphold the FOCCUS prudential standards”.
Tagum Coop was first branded with FOCCUS in early 2000 and right then, the Cooperative continued to renew the brand levelling up its quality of service to the members every year.
History of the Cooperative shows how the adoption of the MCUB technology thru the Credit Union Empowerment and Strengthening (CUES) Philippines project of the World Council of Credit Unions (WOCCU) paved Tagum Coop’s way to FOCCUS.
With the brand, Tagum Coop is “capable to secure members’ money” indicating its financial soundness and excellent service. (Tagum Cooperative)