SMMPC (C): The Cooperative Revisited
This paper reviews the growth of Simbayanan ni Maria Multipurpose Cooperative (SMMPC), Philippines, ten years after its establishment in 1996.
From 1996 to 2004, SMMPC’s membership grew from 1,220 to over 5, 900. Its capital and total assets also grew significantly. Changes that occurred in these years included:
- Restructuring of the organization;
- Modification of its original loan services;
- Development of financial products;
- Closing down of consumer services;
- Change of identity from that of a multi-purpose cooperative to that of a development cooperative;
- Geographical expansion of its target market.
In 2005, the Board, with concurrence of the General Assembly, renamed the cooperative “Simbayanan ni Maria Development Cooperative” (SMDC). It refined its mission and vision, expanded its products and services and resolved problems in its leadership. In 2005, SMMPC decided to focus on providing financial services, professionalizing its management, putting up systems and training its personnel. It also elected its first president in the same year. A key lesson learnt was that effective leadership is important for sustaining the cooperative.
