The success of IMPC is in its ability to respond to its members' needs and as it depends on members themselves, contributing individually in terms of equity share capital and pooling them to serve as operating funds and working together efficiently and effectively making its business successful. Brief History of IMPC
Intel Credit Cooperative, Inc. (ICCI) is a cooperative association o
f Intel Employees organized and applied for registration on March 21, 1978. It is an association of employees united voluntarily to meet their common, economic, social and cultural needs and aspiration through a jointly-owned and democratically controlled enterprise. The formation of the cooperative started with an initial membership of 25 employees who contribute equitable to the capital required and accept a fair share of the risk and benefits of the undertaking in accordance with universally accepted cooperative principles. On August 8, 1978, ICCI has been recognized by Bureau of Cooperative Development (now known as the Cooperative Development Authority) as primary level cooperative society. ICCI begun operating its credit and savings business with a starting fixed deposit of two thousand five hundred pesos (P2, 500.00) each from the pioneering members and initial capital lent money by Intel worth fifty thousand pesos only. Intel Multi-Purpose Cooperative (MPC) is operating within Intel technology Philippines, Inc. (ITPI) facilities at Gateway Business Park – PEZA Zone, Brgy. Javalera, Gen Trias, Cavite. The facilities, including office assets (such as computers, cabinets, tables), utilities and shuttle services, are provided and paid by ITPI at no cost to cooperative as part of the company’s commitment to support employee’s programs and initiatives. ICC CONVERSION TO IMPC
In July 2005, the ICC general membership approved the conversion of Intel credit Cooperative (ICCI) to Intel Multi-Purpose Cooperative (Intel MPC). The conversion from credit to multi-purpose allows the expansion of its operations to engage in two or more business activities beyond merely providing savings and credit services to its members. Being recognized as a multi-purpose cooperative, it paves the way for opening up new service offerings and benefits to the general membership such as insurance service, van rental, e-load, laptop distribution and Kapatiran (bereavement aid to cooperative members extended coverage up to its dependents). The expansion of Intel MPC’s products and services provide added benefits to members and their respective family. The conversion of the cooperatives from ICCI to IMPC was made possible through the effort and leadership of ICC BOD members namely: Frederick Pano, Nicolas Canovas, Roselily Uy, Florante Molina, Liliosa Esguerra, Leticia Baldueza, Arcos Canovas, Jamaica, Paulino, Steven Ralph Ostrea, Manuelito Chua and Its General Manager at the time, Norma Guhiting. AWARDS AND RECOGNITIONS
Intel MPC has been the recipient of various recognitions at both regional and national levels. To name a few, Intel MPC was a recipient of the Most Outstanding Award of Recognition from the Cavite Union of the Philippines in 1991. Also, Intel MPC has been cited by NCR Union of Cooperatives being the Highest CETF Contributor for 5 years. Intel MPC was also recognized by the Provincial Cooperative Livelihood and Entrepreneurial Development Office (PCLEDO) for achieving a Total Cooperative Assets Ranked No. 2 position at the provincial level, awarded in October 2005. It was also awarded the Best in Management Practices in the year 2007 by the provincial Cooperative Development Council of Cavite. Intel MPC is also regarded as the most liquid cooperative in Cavite province in the year 2007. From a humble start with an initial capital of fifty thousand pesos (Php50, 000), seed money from its 25 pioneering members, the cooperative has grown to more than P100M worth of assets by end of the year 2007. In the nationwide survey conducted by CDA in the year 2006, Intel MPC has been ranked twenty-first (21st) among the Philippines’ top 1,000 cooperatives and
Ranked sixth (6th) in the Region Four-level based on the CDA survey in the year 2007 according to its total cooperative assets. At the provincial level, Intel MPC has been ranked third (3rd) among all cooperatives in Cavite while consistently number one as the most successful institutional cooperative in the province with total assets of 190M and net surplus allocation of 26M as of December 2007. As years passed, Intel IMPC already accumulated a total reserve fund of 20M in its General Reserve Fund (GRF), a fund mandated by law to be used to absorb losses and provide stability to the cooperative. Yearly, certain amounts of money are being distributed to members in the form of dividends and patronage refunds. These are proofs that Intel MPC is well patronized by its members and excellently managed by its Board. In October 2019, the Provincial Cooperative awarded the Investreneur Multi Purpose Cooperative (IMPC) as “Pinakamahusay na KOOPERATIBA sa PAGPAPALAGO ng NEGOSYO sa LALAWIGAN ng CAVITE”.
