ASA Philippines Employees Credit Cooperative was initiated by MD Kamrul Hasan Tarafder, the first President and Chief Executive Officer of ASA Philippines Foundation Philippines, Inc. He was called the brainchild in organizing this cooperative for the benefit of the ASA Philippines employees. He aims to enlighten and make the habit of savings as best practice to all employees for their future retirement and above all to be financially stable.
He appointed one of the foundation's directors, Mr. Nilo B. Cellon, Jr., to prepare and organize the application for the cooperative's formation. With the help and cooperation of the seven appointed board members, namely:
- Madelyn S. Elcarte (Chairperson)
- Nilo B. Cellon, Jr. (Vice-Chairperson)
- Ferdinand U. Jikiri (Board member)
- Warson I. Buen (Board member)
- Maria Regina L. Pacifico (Board member)
- Zulfakar A. Mukammali (Board member)
- Maricel R. Pansoy (Board member)
The ASA Philippines Employees Credit Cooperative (APECC) was duly registered with the Cooperative Development Authority (CDA) under Registration No. 1016000000038295 on July 12, 2017. Its first registered office address is located at 15th Floor, Prestige Tower, F. Ortigas Jr. Road, Ortigas, Pasig City, in accordance with the provisions of Republic Act 9520.
It is also registered with the Bureau of Internal Revenue (BIR), having acquired a Certificate of Registration on July 31, 2017. It was assigned the Tax Identification No. 705-908-243-000 and received a Certificate of Tax Exemption No. COOP-0000430-19-RR-07RDO-43, valid until March 22, 2029.
In response to mandatory government registrations, the cooperative was registered with Pag-IBIG under Registration Tracking No. 800174177070, dated July 12, 2017; with PhilHealth under Employer No. 001020008737, dated August 23, 2018; and with the Social Security System (SSS) under Employer No. 80-0047352-9-000, dated August 24, 2018.
In accordance with DILG Memorandum Circular No. 2019-72, the ASA Philippines Employees Credit Cooperative was duly registered with the Local Government Unit (LGU) of Pasig City on September 13, 2019.
Pursuant to Section 3(1) of R.A. 9520, the Authority prescribes the following guidelines governing the allocation, utilization, and remittance of the Cooperative Education and Training Fund: The ASA Philippines Employees Credit Cooperative, in compliance with CDA Memorandum Circular No. 2019-08, affiliated with the National Capital Region League of the Philippine Federation of Credit Cooperatives Organization (NCRL-PFCCO) on April 18, 2020. This affiliation was approved by Board Resolution No. 25, Series of 2020.
The ASA Philippines Employees Credit Cooperative in compliance with R.A. 9520 has created its own logo and statement of Vision, Mission, Core Values and Goals:
- Vision: To be the leading provider of financial needs of employees of ASA Philippines Foundation;
- Mission: To inculcate a culture of thrift and assist members to attain financial stability through periodic savings and financial discipline among members; o Core Values: To provide the upliftment of the quality of life of its members through mutual and cooperative programs;
- Social Goals: To ensure financial, human and other resources guided by the ASA Philippines Foundation core values.
Over the past three years, significant changes in all aspects required such as holding annual general assembly, officer’s accomplishment reporting, and compliances have been gradually addressed both financial and documents to the Cooperative Development Authority and other government agencies related to the cooperative.
As guided by the Cooperative Development Authority, ASA Philippines Employees Credit Cooperatives has developed best practices following the Seven (7) Cooperative Principles:
- Voluntary & Open Membership
- Democratic Member Control
- Members' Economic Participation
- Autonomy & Independence
- Education, Training and Information
- Cooperation among Cooperatives
- Concern for Community.
