MMC History
Mambajao Credit Cooperative (MCC) was the first cooperative in Camiguin registered with CDA. It was organized in 1967 through the initiative of certain Jesuit Missionary Priest by the name Father William F. Masterson, SJ. It started with 50 members having a total capitalization of Php.1,000.00 only. Its purpose was to alleviate the economic condition of the people from the unscrupulous money lenders or loan sharks and to uplift their quality of life. It was registered on July 17, 1970 under RA 2023, Registration No. 002606 with the Cooperative Administration Office (CAO) the forerunner of the present Cooperative Development Authority (CDA) and confirmed on September 20, 1991 under Confirmation No. CR-CGY-175 in accordance with the provisions of Republic Act 9520 known as The Philippine Cooperative Code of 2008, it was re-registered under Registration No. 9520-1005895 with Cooperative Identification No. (CIN) 0105100078 which aim to strengthen, mainstream and protect local coop; promote coop self-regulation; and strengthen government regulation.
Seeing that MMC is fast growing since it was established, on May 5, 2017, its application to be MAMBAJAO MULTIPURPOSE COOPERATIVE (now MMC) was approved with its continuous mission to uplift the lives of its member and community by providing quality products and allied services.
Area of Operation
Mambajao Multipurpose Cooperative’s area of operation covers the province of Camiguin and Misamis Oriental. It operates 4 branches; MAMBAJAO, CATARMAN, MAHINOG AND BALINGOAN. Its HEAD OFFICE, a three-storey building, is located at E.Neri St., Mambajao, Camiguin.
Currently MMC is constructing it’s very first HOSTEL located at Barangay, Bauk-Bauk, Balingoan, Misamis Oriental. MMC also operates two (2) PINOY KOOP ATMs located in Catarman Branch and MMC Balingoan Branch. MMC’s has 488M assets as of November 30, 2019, a 29M Net Surplus with 19,237 Regular and Associate Members.
Management and Programs
MMC’s desire is to maintain and achieve an effective smooth flow of its business operations. It is mandated to have a well-trained pool of personnel to implement the policies set forth, for its operation.
The management and staff did not forget their social obligations. They support the government programs like Natural Disaster Drills, Coastal Clean Up and Tree Planting just to name a few.
The management structure is such that the granting of loans is in the hands of the professional staff with responsibilities and accountabilities property defined at different levels. The ambitious plan of the management is to become a billionaire coop by the year 2020. To make it possible, expanding its areas of operations in the province and in the mainland by putting up business centers are one of the major plans.
Road signs were put up in the highways and signage/directions are placed in strategic places throughout the island. Again, another two (2) instructional building were donated to Yumbing Elementary School and Baylao Elementary School. Bundles of joy were given to the identified indigent families and inmates. Donation of Bantay Dagat Pumpboat, Schools children and many others.
MMC’s development and awareness are aligned in order for it to be socially and spiritually involved for the benefits of its members and for the community as well.