Last week, I attended the launching of the new program of BBCCC (Baguio Benguet Community Credit Cooperative) that could probably catapult the co-operative to unprecedented greater heights. This brainchild of the BBCCC leadership was baptized as the AIM MORE Program an acronym which means, Aggressive Investment Mode = Member Owner Redirected Education Program.
BBCCC, although it has been steadily and consistently growing, it is growing at a turtle pace. BBCCC, although it is the undisputed biggest co-op in the region, it got its first billion after 50 years of existence. BBCCC, although it is a giant in the movement, a lot of Davids are fast catching up and will overtake her if she will be caught napping on her laurels.
Out there, other co-ops are experiencing exponential growth. BBCCC has to shift into overdrive if it wants to stay ahead of the pack. So when this AIM MORE Program was born, it is a wonderful development at BBCCC. This means, BBCCC wants to convey a message that says they will hold on to their Number One spot. This means, BBCCC is not about to relinquish its ascendancy and leadership in the co-op movement. This means, the giant heard the trembles coming from an onslaught of approaching stampede of co-ops on its way.
There really is a need to take an aggressive stance. There really is a need to flex its muscles. There really is a need to position itself in order to pounce on opportunities as soon as they appear. And it has to act now. It has to run faster than the rest.
According to the Chairman of the Board of Directors, Atty. Nelson Gayo, there is now a need to review their policies that has been “outdated” especially on their credit operation, the education of their members and the investment plans and business opportunities that has been repetitively proposed but has been repeatedly tabled for further study. Until last week, no study has yet been made and those plans are still languishing in the co-op vaults. He promised to unearth these proposals and will be seriously considered and carefully dissected to elicit their feasibility or lack of it.
You see, it was only around 15 years ago that TAMPCO (Tabuk Multi-Purpose Co-operative) is the biggest co-op in the region in terms of assets. BBCCC flew past TAMPCO in the blink of an eye and the former went on to become the first billionaire co-op in the region. They have been at the top for quite a while confidently thinking that it will take years for other co-ops to catch up. I’m afraid there are co-ops right at their tails.
It is a good thing Atty. Gayo have some youthful aggressiveness to attempt to bring BBCCC to the next level, to evolve, to innovate, to diversify and to adapt to current trends and developments in the business world. I don’t know if they know that there are co-ops that were already in aggressive mode earlier than them. TAMPCO wants to recover some lost glory and is now poised and determined to become the next billionaire by 2016.
While it took 50 years for BBCCC to reach the billion mark, I am afraid other co-ops may not have to wait for 50 long years to break in to the billionaire status. I am confident that in a few years from now we will have 2 or 3 additional billionaire co-ops in our region.