Micro-Entrepreneurs Multi-Purpose Cooperative (MEMPCO) is a cooperative located in Zamboanga City that is dedicated to being a strong and sustainable cooperative of highly empowered members in Mindanao. MEMPCO is committed to uplift the social and economic conditions of its members by providing excellent financial products and services guided by the cooperative principles and values, as well as MEMPCO’s values of passion, integrity, teamwork, and innovation.
MEMPCO started as a Project Management Unit (PMU) of the former Peoples Credit and Finance Corporation (PCFC), a Government Owned and Controlled Corporation in the Philippines and a microfinance wholesaler. In 2002, the PMU was registered as Micro-Entrepreneurs Multi-Purpose Cooperative (MEMPCO) with the Cooperative Development Authority (CDA). At that time, ten (10) individuals were employed to service the financial needs of its first 583 micro-enterprising women cooperators.
MEMPCO’s main product during its early days was micro-finance loans using the Grameen Methodology (also known as “group loans” or “character-based loans”) with the goal of empowering its members to be more socially and entrepreneurially active in the community.
From its humble beginning, MEMPCO has evolved to adopt and address the changing needs of the community it serves. In 2005, savings deposits were developed and launched with the help of CUES Philippines, in addition to microfinance loans. To expand its reach, MEMPCO has opened a total of 7 branches across the Zamboanga Peninsula. MEMPCO has also improved its organizational structure and set up a central office that monitors branch operations.
In order to provide easy access to financial products, two (2) 3-story buildings were constructed in the West Coast and East Coast areas of the city. Automated Teller Machines (ATMs) were also strategically installed in 3 of its branches to provide members and the community with convenient withdrawal transactions, even on holidays.
Adhering to its mission, MEMPCO has developed products that cater to more specific business and providential needs of its members. From group loans, MEMPCO has opened up capacity/risk-based and collateral-based loan products for individual regular borrowers. Various deposit products were also developed, including the Kinabukasan Ko ‘To (KKT) Wealth Building Product, which is specifically developed for Overseas Filipinos (OFs) and Overseas Filipino Families (OFFs).
Micro-Entrepreneurs Multi-Purpose Cooperative (MEMPCO) has come a long way from its origins as a Project Management Unit to become a thriving cooperative dedicated to empowering its members and providing them with excellent financial products and services. Through its commitment to cooperative principles and values, as well as its own values of passion, integrity, teamwork, and innovation, MEMPCO has been able to adapt and grow to meet the changing needs of its community. With its expanding reach, convenient access to financial products, tailored loan and deposit offerings, and impactful social services, MEMPCO is well-positioned to continue uplifting the social and economic conditions of its members and the wider community it serves.
