NATCCO Recognizes Excellence in Cooperatives at Aurora Gala Night
The National Confederation of Cooperatives (NATCCO Network) honored cooperatives demonstrating exceptional service and sound governance at its inaugural Aurora Awards & Gala Night on October 5, held at the City of Dreams, Parañaque City.
NATCCO Chairperson Junrey Labatos from King Multi-Purpose Cooperative in Davao City welcomed the more than 300 participating cooperative leaders and thanked them for coming all the way to Manila to participate in the gala night. He also reminded the participants, all dressed in fine gala attire, that the mission of cooperatives was to “better serve their members, improve their lives through self-help, build communities, working toward the ultimate vision of a truly cooperative society in the Philippines.”
NATCCO Chief Executive Officer Sylvia Paraguya reported to the leaders in attendance that the NATCCO federation membership had reached 1,015 cooperatives.
NATCCO was established by co-op leaders in 1977 to standardize co-op education. Almost 50 years later, co-ops are exhibiting excellent governance and professionalized operations that meet established Asian finance industry standards.
Approaching its 50th Anniversary, NATCCO Network has gone beyond providing education, and now offers a vast range of products and services designed to help cooperatives enhance their operations and positively impact their communities.
Awards were given to co-ops that availed of NATCCO’s services, and have exhibited professionalism and sound operations that have resulted in growth and development of the cooperatives.
“As the finance landscape becomes more sophisticated, competitive, and complex, excellence in cooperative operations and governance is more crucial than ever!” he said.
Awards were categorized into Financial and Non-financial Categories.
For the Financial Category, awards were on: Deposit Structure, Share Capital Structure, Loan Structure, Administrative Efficiency, Net Institutional Capital, Provisioning for Loan Losses, Solvency, and APPEALS Rating.
For non-financial awards were: Angel Fund Contribution, Resiliency Fund Contribution, Stabilization Fund Depositors, and Service Patrons.
Given recognition were cooperatives as “Digital Adopters” who have patronized NATCCO’s banking software and digital transaction applications, which NATCCO leaders have advocated as key to meeting competition, make for efficient and safe transactions, and is a key component in NATCCO’s vision to “inter-connect cooperatives.”
Also recognized were the cooperatives that remitted their Cooperative Education & Training Fund to the NATCCO Network.
Representing the Cooperative Development Authority (CDA) was Board Member Luz H. Yringco, who told the leaders: “Most people would not choose to work in cooperatives. But why are you in cooperatives? Because you were chosen no less than by God Himself to help people whom He loves so much . . . the poor. Your impact on the lives of others determines the significance of the live you live. You are the champions of the movement, the leaders that the future generation will look up to!”
More than 200 cooperatives received awards that night.
Co-ops were invited to send in nominations for the Guillermo Cua Leadership Award to honor and perpetuate the legacy of the late visionary leader and stalwart of the cooperative sector, who served as CEO of NATCCO from 2000 to 2004 and COOP-NATCCO Partylist Representative in Congress from 2004 to 2008.
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