Glimpse of History

SMC CEMPC
Glimpse of History

During the start of the business operations in Mandaue Complex in 1968, a regular employee was entitled only to the benefit of company hospital loan for his immediate dependents. Other loans such as house repair, educational and car loan were not yet extended.

Name of Cooperative: SMC Community and Employees Multipurpose Cooperative
Registration No.: 9520-07013901
TIN : 206-279-323-000
Address: Unit #3 Entienza Bldg, M.C. Briones St., Hi-way, Bakilid, Mandaue City, Cebu
Contact No. : Mobile 0917-7730365/(032)2362655
E-mail: smcmecc@yahoo.com/smcmecc@gmail.com
Cooperative Type: Credit, Consumer, Marketing
Asset Classification: Large

1970

A group of ten (10) aggressive San Miguel employees based in Mandaue initiated a meeting to form a cooperative. Mr. Gelacio T. Jumao-as, Finance head Feneral Services Department (GSD) Mandaue Complex presided the meeting.Employees of Mandaue Brewery plant joined the credit union spearheaded by Victor Caro. Pre Membership Trainings were held under the Caimito Tree at Cebu Magnolia Warehouse.

October, 1972

Organization date and the cooperative name was SMC-MGSCUI. 50 employees from Mandaue General Services (MGS) and Beer Marketing Division (BMD were enlisted as charter members after the launching.Registered with the Bureau of Agriculture and Cooperative Development Authority as SMC-MGS Cooperative Credit Union, Inc. Initial Capital was 100,000. Later that year the name was changed to SMC-MGS Employees Cooperative Credit Union, Inc.

March 1980

Mr. Gelacio T. Jumao-as, managed the coop for eight (8) years since its inception. At the end of his term, total fixed deposit is more or less P300,000 which he turned over to the next chairman, Mr. Manuel Flores.

January 1989

The first quarter newsletter named “Kasulbaran” was issued. With the growing awareness of employees more coop members were active and so committees were create to effectively govern the cooperative.

September 1991

The cooperatives amended it’s name in the Articles of Cooperation and By-Laws to SMC MANDAUE EMPLOYEES CREDIT COOPERATIVE. Fixed Deposit balance of existing members amounted to P16,306,989.13

January 1992

SMC initiated the “right sizing program”. 488 members have withdrawn after availing the SMC offer. To augment the cooperatives source of income, projects like poultry raising and drugstore were planned. From 1,350 the number of member was reduced to 856 at year end.