The Latest Co-op Billionaire in CAR

And then there were four.

The first order of business today is to congratulate BSU Multi-Purpose Co-op for obtaining that most coveted billionaire status last July 27, 2017. It is the first co-op ever in Benguet to achieve such an amazing feat and making them the fourth billionaire in the region after, Baguio-Benguet Community Credit Co-op, Tabuk Multi-Purpose Co-op and Abra Diocesan Teachers and Employees Multi-Purpose Co-op.

Sometime two or three years ago, I was challenging (I’m still doing it until now) co-ops from all corners of the region not to be contented on their present status, but to think big. To be aggressive in expanding the business and the membership. Aim to grow, dream and become the next BBCCC, I said, trying to sound as persuasive as possible. At that time, BBCCC is the only billionaire co-op. The responses I receive in return are blank stares and smiles that convey a message that tried to say, ‘it’s impossible’. Yet I persisted and even fearlessly predicted that in a 5-year period, there will rise another billionaire if not two. Looking back, I’m afraid my guess was right. But I was also wrong.

I hit the bullseye when I said we are expecting additional billionaires. I miscalculated however, the year and the number. Shattering all my estimations, not 2 but 3 broke into this elite club of billionaire co-ops joining BBCCC and then arriving into that prestigious milestone sooner than I anticipated.

To tell you the truth, this announcement about BSU MPC caught me by surprise. I had no inkling that, in the early part of July, this almost unreachable (for most co-ops) star is already within their grasp. If there were rumors, it never reached my ears. I was with the manager on the 2nd week of July and she never mentioned anything. Of course, the co-op leadership and management are ever so humble not to be tooting their own horn. They were doing it silently I suppose. Let the figure speak for themselves, they could have reasoned out. But I never doubted this momentous event will come to pass.

And here is another staggering revelation. BSU MPC was able to hit the big “B” in just a matter of 18 years. This is relatively quick considering that other co-ops that existed much longer are still struggling to be where BSU is right now. Some are even micro (below 3 million) for more than 20 years already. To elaborate further, BSU became large after 12 years (by surpassing the 100 million threshold) and then became a billionaire in 6 short years. Quite impressive, isn’t it?

Kudos to the Board of Directors headed by Mr. Joseph Bognadon and the Management Staff led by Ms. Jane Asiong. You are the right officers ever assembled at the right time and at the right co-op. So, keep it up. At the CDA, we are just as excited as you like proud parents witnessing the graduation of their child.


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