The Philippines is an archipelago of 7,101 islands. As many as the islands are, they are as much number of cooperatives engaging in economic endeavors day in and day out.

As viable organizations with collective membership purpose, the cooperative movement has weathered years of struggles and challenges to stay in the economic mainstream. It brought people together in the spirit of volunteerism. With this at the forefront, the character of self-help has led the way for members to self-reliance.

Under the auspice and guidance of the Cooperative Development Authority (CDA), the cooperative community has developed the professionalization it needs to be at par with its corporate counterpart. Cooperatives are registered as institutions that spearhead economic activities from the investment of members in the capital subscription. Like other financial institutions such as government and commercial banks, credit unions are also involved in financial intermediations. Aside from it, cooperatives also operate a bank-like system in their Member’s Saving Operation (MSO) to instill in members the value of thrift and savings.

In the financial market, the dimension of the cooperative lending and relending facilities have provided answers and solutions to the felt-needs of shareholders through its organized scheme of practical and prudent borrowing diversification in the cooperative business are in active grind. At present, there are at least 27 types of cooperatives all over the Philippines, which are in compliance with governing laws of Republic Act 9520 (RA 9520), better known as the New Philippine Cooperative Code.

The paradigm shift from stability to sustainability is a primary factor which manifests the evident strength of cooperatives in their development. Members have the privilege to be part of its democratic principles and most of all, the investors can enjoy their right in the equitable distribution of dividends and patronage refunds for their economic participation that is inherent in the endeavor.