The First Community Cooperative (FICCO) is one of the largest and most recognized multipurpose cooperatives in the Philippines. It was founded on July 8, 1954, originally as the Ateneo Credit Union (ACU), by 15 pioneers from the Ateneo de Cagayan (now Xavier University), under the guidance of Rev. Fr. William F. Masterson, SJ. What started as a small, closed-group credit union with just ₱26.30 in share capital has grown into one of the largest national institutions with over 408,000 members and 104 offices across the country.
FICCO transitioned from a school-based organization to a full-fledged community cooperative serving the public in Cagayan de Oro City, eventually expanding its services to other parts of the Philippines. Staying true to its motto “Not for Profit, Not for Charity, but for Service,” FICCO now offers a wide range of loan, deposit, insurance, and special financing programs tailored for Filipino individuals, families, and entrepreneurs.
FICCO Culture and Core Principles

FICCO’s success is rooted in its strong cooperative culture, which emphasizes shared values, financial discipline, and genuine care for members. It delivers high-quality, personalized, and responsive services that often exceed what traditional financial institutions offer. Governance is built on transparency, accountability, and member participation, ensuring trust and collective decision-making. FICCO leaders and members uphold values like sacrifice, discipline, volunteerism, and controlled spending to sustain efficient operations. This unique culture allows FICCO to provide high returns, strategic growth, and long-term benefits to its members.
Benefits
There are numerous benefits to joining FICCO, regardless if you are a regular or an associate member. These includes:
- Strong, Stable, and Trusted Coop
- Over 69 years of service and 408,000+ members nationwide
- Transparent, member-driven governance and efficient operations
- Proven track record of steady growth, expansion, and social responsibility
- Financial Benefits
- Dividends on Share Capital: Regular and associate members earn annual dividends, historically not less than 8% for regular shares.
- Patronage Refunds: Members receive a share of the coop’s net surplus based on their loan and deposit transactions.
- High Return, Low-Cost Services: Competitive interest rates on deposits and fair pricing on loans.
- Savings & Time Deposit Options: Regular savings accounts and time deposits with interest rates of up to 3% per annum.
- Wide Loan Access: Access to various loan types including:
- Business, agricultural, housing, vehicle, educational, medical, travel, and emergency loans.
- Instant or back-to-back loans secured by deposits.
- Convenient Member Services
- GCash-Enabled FICCO ATM Card: Withdraw from ATMs, buy load, pay bills, or receive remittances.
- POS & Online Payment Access: Pay loans or deposit funds through FICCO’s POS system or partn iser networks.
- Fleet Card: Purchase fuel and pay later with fuel discounts.
- Member ID with ATM Capability: Issued for only ₱150, used for transactions across branches.
- Accessible Membership
- Online Pre-Membership Seminars: Especially convenient for OFWs and remote applicants.
- Low Initial Capital: Total entry cost starts at ₱440 only, including ID and deposits.
Being a FICCO member means belonging to a cooperative that values financial growth, community service, and sustainable support for its members across the Philippines.
- Inclusive Membership Types
- Regular Member: With voting rights and higher benefits; required minimum share capital of ₱3,000.
- Associate Member: Non-voting but still earns the same dividends and access to most services; only ₱100 in preferred shares required.
Membership Types & Requirements
Depending on the type of membership you are going for, you might want to take note of the share capital requirements below:
- Common Shares
- Minimum ₱3,000 (non-withdrawable unless membership ends)
- Earns dividends (8% or higher in past years)
- Preferred Shares
- Minimum ₱100
- For non-voting associate members
- Same dividend rate as common shares
- Deposits
- Savings Deposit: Minimum ₱500, 1.5% interest, withdrawable anytime
- Time Deposit: Minimum ₱1,000
- Interest from 2.10% to 3.00% depending on amount
- Interest from 2.10% to 3.00% depending on amount
Types of Services Offered by FICCO
FICCO also offers numerous services including the following:
Loans
Each loan type is tailored to meet the needs of its diverse membership base:
- Regular Loans
- RL-Prod: For small business or commercial ventures.
- RL-Prov: For personal purchases such as appliances or cars.
- Agricultural Loans
- Rice & Corn Loan: 6-month loan for one cropping season.
- Sugar Cane Loan: 12–15 month term, from planting to harvest.
- Cassava Loan: 12-month loan term.
- Other Crop Loan: 36-month loan, paid semi-annually.
- Agri Lot Purchase: Helps farmers buy land.
- Aqua Culture Loan: 6-month loan for fish and prawn culture.
- Livestock Loan: For hog raising, 4-month term.
- Commercial Loans
- Small Enterprise Loan: For business startup and operations.
- Repackaged Business Loan: For well-established businesses.
- Commercial Credit Line: Revolving credit for business purchases.
- Vendor/Driver Loan: For ambulant vendors and transport operators.
- Financing Loans
- Appliance Loan: For buying household appliances.
- Motorcycle Loan: For new or surplus motorcycles (up to 200cc value).
- Motor Vehicle Loan: For personal or business vehicles, up to 96 months.
- Heavy Equipment Loan: For business machinery or medical equipment.
- Cell Phone Loan: Payable in 12 months.
- Neo TV Loan: 24-month loan for digital TVs.
- Travel Loans
- Travel & Tours Loan: For leisure or vacation trips.
- Special Travel Loan: For visa-related financial requirements like show money.
- Housing Loans
- Housing Assistance Loan: Up to ₱2M for house repair or renovation.
- House Construction Loan: For building homes on owned land.
- Condo/Apartment Financing: For move-in ready units awaiting title transfer.
- First Home Loan: 8% interest; for first-time housing or condo buyers.
- Medical Loans
- Medical Loan: Up to ₱50,000 for hospital and medicine expenses.
- Dental Loan: Covers dental care like braces or cleaning.
- Newborn Screening Loan: For newborn medical tests.
- Other Loan Services
- Educational Loan: Direct payments to schools or suppliers.
- Salary Loan: For employed members under MOA with FICCO.
- Petty Cash Loan: Instant over-the-counter loans.
- Calamity Loan: For disaster-affected members.
- Memorial Loan: For Pryce Garden lot and funeral services.
- LAD, LATD, LARS/IS Loans: Instant loans backed by deposits.
Insurance & Member Services
- Life Insurance
- New Mutual Aid Fund (NMAF)
- Savings Protection Plan (SPP)
- Loan Protection Plan+ (LPP+)
- FICCO MBA: Mutual Benefit Association
- Non-Life Insurance
- Motor, fire, and home protection
- Health plans via Cooperative Health Management Federation
Special Offers and Services
- OPPO Phones: Buy or loan high-end phones with freebies.
- FICCO GCash: Withdraw from ATMs, pay bills, load phones.
- Fleet Card: Fuel now, pay later with per-liter discounts.
- FICCO POS: Accepts card payments for deposits and loans.
- Pure IT: Non-electric water purifier payable in 24 months.
How to Become a Member of FICCO
Becoming a member only requires 3 easy steps.
Step 1: Attend a Pre-Membership Seminar (PMS)
You have two options:
- Onsite Seminar: Visit any FICCO branch and join the PMS held every Saturday from 12:30 PM to 5:00 PM
- Online Seminar: Register for membership anytime at https://pms.ficco.org/Identity/Account/Register.
- Also available for OFWs
- Seminar Fee: ₱40.00
Step 2: Pay the Membership Fees
You can pay a total of ₱440.00 at any FICCO branch or through GCash.
Here’s a breakdown of the initial payment:
- Membership Fee: ₱50.00
- Seminar Fee: ₱40.00
- FICCO ID (GCash-enabled ATM): ₱150.00
- Initial Share Deposit: ₱100.00
- Initial Savings Deposit: ₱100.00
Step 3: Submit the Requirements
Prepare the following documents and submit them to your chosen FICCO branch:
- Birth Certificate
- Marriage Certificate (if married)
- Photocopy of Valid ID (2 colored copies)
- 1 piece 1×1 ID photo
- 1 piece 2×2 ID photo
- Tax Identification Number (TIN)
Note: A Tax Identification Number (TIN) is required. If you don’t have one, FICCO can assist you in applying. Just fill out these forms:
- BIR Form 1904 (Application for Registration)
- Basic Taxpayer Information Form
- Affidavit of Undertaking
Once all steps are complete, you can officially be a FICCO member and can start enjoying their full range of cooperative services.
Video: First Community Cooperative (FICCO) | Fr William F Masterson SJ Awardee
Interested in joining FICCO as a member? Learn more about what this cooperative is all about straight from the chairman of the board himself by watching this video below.
Contact FICCO
For more info, visit: www.ficco.org or contact any FICCO branch near you. You may also reach out to them via the following:
- Montano Sabanal Bldg., Fernandez St., Cagayan de Oro City
- (088) 857-2119 | +63 985 212 2566 / +63 985 212 2567
- ficco1954@ficco.org | afs@ficco.org
- www.ficco.org
- https://www.facebook.com/FICCO.official
- Business Hours:
- Monday–Friday: 7:00 AM: 3:00 PM
- Saturday: 8:00 AM: 3:00 PM
- Sunday: Closed
Disclaimer: While many members are satisfied with FICCO, some have raised concerns online over required fees for regular members, customer support, and dividend clarity. Consider visiting a branch and discussing your needs before joining.