Our Core Values
ILOCOS CONSOLIDATED COOPERATIVE BANK (ICCB) was originally conceptualized by several cooperative leaders headed by Former Congressman Engr. Jose R. Ping-ay as the initiator & founder of the consolidated bank. At first, there were five coop banks in Region I made an arrangement to form a consolidated cooperative bank in order to strengthen the power of cooperative banks in the region with the guidance of Bangko Sentral ng Pilipinas.
In September 30, 2011, consultative meeting was called which was attended by coop leaders of Coop Bank of Ilocos Norte (CBIN), Ilocos Sur Cooperative Bank (ISCB), Coop Bank of La Union (CBLU), Coop Bank of Cagayan (CBC) and Coop Bank of Nueva Viscaya (CBNV). The coop leaders unanimously approved for the appointment of Engr. Jose R. Ping-ay as the Acting Chairman/Presiding Officer of the consolidated bank and they approved the plan to consolidate.
In October 22, 2011, another consultative meeting was called by Acting Chairman Ping-ay which was attended by four (4) Cooperative Banks -ISCB, CBIN, CBC & CBNV and they tackled the holding of a Special General Assembly. On December 1, 2011, the Special GA Meeting was held at Cagayan, Toguegarao City and the members unanimously approved the Plan of Consolidation, name of the consolidated bank as Cooperative Bank of Northern Philippines (CBNP), its Articles of Consolidation & By-laws. After the Special General Assembly, several joint meetings of the four (4) coop banks leaders were held from November 2011 to June 2012. However, during the consultative meeting in June 8, 2012 at Texicano Hotel, Laoag, City, IN, Coop Bank of Cagayan decided not to join anymore.
The three cooperative banks leaders continued their meeting and approved for the holding of another Special General Assembly (SGA). The SGA meeting was held on July 7, 2012 at ATI Center, Regional Training Center, Pangasinan for the re-approval of the CBNP Plan of Consolidation, Articles of Consolidation (AOC), Articles of Cooperation (AOC) and By-laws (BL).
However, in 3 April 2013, a letter was received from CB Nueva Viscaya informing the bank that their new set of BOD had decided to cancel thier participation with CBNP.
With this report, a joint BOD meeting was called in May 7, 2013 for ISCB and CBIN Directors and they agreed and approved their Plan of Consolidation, the name CBNP, AOC, AOC & BL. Regular meetings of the Interim Board of Directors were held and they appointed the members of the Technical Working Group (TWG) to discuss the bank’s proposed manuals, policies, organizational structure & salary scale. Simultaneously, the documents were submitted to governing agencies particularly Philippine Deposit Insurance Company (PDIC), Bangko Sentral ng Pilipinas (BSP) and Cooperative Development Authority (CDA) for their consideration, registration and approval.
The Technical Working Group (TWG) continuously followed-up the approval of the Plan of Consolidation of the 2 constituent banks with PDIC, BSP and CDA and conducted information dissemination and sent letters/notices to all members, clients and stakeholders and posted to bulletin/newspaper. In May 7, 2013, a joint meeting of the BODs of the constituent banks & TWG was held at ISCB Main Office, Candon City, Ilocos Sur to tackle schedule of activites and conduct due diligence audit. In September 26, 2014, the Bank received the approval of PDIC on the proposed consolidation of ISCB and CBIN under PDIC Board No. 2014-08-175. Later in January 30, 2017, CDA did not accept the documents because of the name with “Philippines”. With this, the two constituent banks decided to hold separate Special General Assembly meetings on February 24, 2017 & February 25, 2017 of ISCB & CBIN respectively and their respective members unanimously amended and approved the name as Ilocos Consolidated Cooperative Bank (ICCB).
The decision of the two banks using the brand or trademark “consolidated cooperative bank” remarks their union and integration in terms of assets, liabilities, membership, contracts and agreements. Thereafter, meetings of the Interim Board of Directors were held and came up with common policies/manuals for bank’s operations.
Fifteen (15) days after the Special General Assemblies (SGA) of the two coop banks –Ilocos Sur Cooperative Bank (ISCB) and Cooperative Bank of Ilocos Norte (CBIN), the SGA Resolutions on the amendment of the name were sent and submitted to BSP and CDA in March 9, 2017.
In April 24, 2017, the Bank received the Certificate of Authority of Ilocos Consolidated Cooperative Bank from Central Point of Contact Department I of Bangko Sentral ng Pilipinas certifying the Articles of Consolidation executed by and between Ilocos Sur Cooperative Bank (ISCB) and Cooperative Bank of Ilocos Norte (CBIN). In May 8, 2017, Cooperative Development Authority (CDA) awarded the Certificate of Registration of Ilocos Consolidated Cooperative Bank under Registration No. 9520-2010000000038400 and certified that Ilocos Consolidated Cooperative Bank is now registered under its new Cooperative Identification Number (CIN) 10201738400 with office address at National Highway, Bagani Campo, Candon City, Ilocos Sur.
Finally, in June 16, 2017, Bangko Sentral ng Pilipinas awarded to Ilocos Consolidated Cooperative Bank the Certificate of Authority to Operate pursuant to Republic Act No. 7353 and Monetary Board Resolution No. 2204 S-2016.
Simultaneously, the Bank had processed and received its Certificate of Registration from Bureau of Internal Revenue with Tax Identification Number 709-615-877-000 and Mayor’s Permit and Business License from Local Government Unit, City of Candon, Ilocos Sur.
A regular monthly meeting of the Interim Board of Directors was held. The members of the Interim BOD were Mrs. Norma S Cipriano of Suyo MPC as the Chairman of the Board, Mr. Senecio P. Ribuyaco, Sr. of San Joaquin MPC as the Vice Chairman and the Directors are Mrs. Añolina A. Battad of FACBET MPC, Engr. Romy A. Bucalen of Candon City Government Employees MPC, Mrs. Myrna B. Cavinta of DWCL MPC, Mr. Prudencio F. Consolacion of BANGKOOP, Mrs. Yolanda T. Domingo of Marcos Farmers MPC, Engr. Armando Q. Ganal of Sarrat Namnama MPC, Mr. Abner E. Guilambo of Sacred Heart Savings Coop, Engr. Ariel D. Martin of Magumbayan MPC, Engr. John A. Pre of Kailian MPC, Mr. Perseverando R. Rebucal of Quiling Sur Tomatoe Growers MPC, Mrs. Florida R. Rosario of Salucag MPC, Mrs. Margarita R. Somera of Fatima Vigan MPC, Mr. Basilio V. Valdez of Sungadan MPC and Ex Officio Mrs. Aurea H. Nolasco of Land Bank of the Philippines. The Interim Board appointed the members of the Technical Working Group (TWG) headed by President Alberto B. Gudoy, General Manager Ruben R. Habon, Corporate Secretary Rosita S. Angala, Chief Compliance Officers Maritess G. Cortez and
Melvin D. Borja and Chief Internal Auditors Markdan B. Dayap and Harold Franklin Ricardo and they were tasked in the preparation of the integration plan and to direct the transition period of ICCB. The members of the TWG held their meetings and results were presented, discussed and unanimously approved by the Board of Directors.
As newly registered consolidated bank, CDA required the holding of Special General Assembly (SGA) three months after the date of registration so that in August 8, 2017, the First Special General Assembly was held and the coop members unanimously approved and confirmed the ICCB Developmental plan, Organizational structure, appointment of Interim Board and Bank Officers, ICCB Election Guidelines to be implemented on the First Annual General Assembly and final date of the full integration.
In 1 December 2017, Ilocos Consolidated Cooperative Bank (ICCB) started its operations with its Corporate and Head Office located at Bagani Campo, Candon City, Ilocos Sur and ten (10) Branches located at San Nicolas, Laoag, Marcos, Batac, Bangui, Solsona, Sinait, Bantay, Bangued and San Juan.
The Bank offers deposits and lending services. Deposit recruitment becomes stable as observed by the continuous participation of stakeholders in capital build up and deposit generation.
The total assets of Ilocos Consolidated Cooperative Bank as of December 1, 2017 was P1,320,992,586.64 and its total equity was 162,940,615.69 with a total member of 133 active cooperatives.
For the first month of operation, the bank has successfully accumulated a Net Income of P3.964 million and P1.3 billion total assets. The bank has capital adequacy ratio of 13.24%, higher than the 10% minimum ceiling set by BSP. ICCB encouraged all its Cooperative Members to increase their investment because the authorized capital is P300M of which P111,175,000.00 was already paid in. It also offers individual preferred shares. The public trust and confidence keep growing as evidenced by the recorded Deposit Liabilities of the bank as of 31 December 2017 amounting to 885.7M.
The Bank’s challenges are its inspirations to serve the whole Luzon as it plans to put up more branches to other provinces for the next coming years, to expand its services which will serve more clients and bigger community. The wider area that the bank serves will also be a great opportunity to have more investors and higher income.