PHCCI-MPC Tacloban is a cooperative financial organization owned, operated and controlled by its membership registered with the Cooperatives Development Authority (CDA).
Its objective is to promote thrift and cultivate a sense of good financial management and stability among its members through systematic savings, wise use of credit and membership participation in the affairs of the credit coop.
Unlike a bank, PHCCI serves only its members who share its profits. A bank, on the other hand, is owned by its stockholders who benefit from whatever profits the bank makes.
Poverty - and - the extreme desire to improve the quality of life of common man were the compelling
reasons for the Redemptorist Father to make the initial steps to establish a
cooperative within the
So, on February 16, 1969 with 33 incorporators and an initial share capital of P1,201.94 PHCCI was born.
Since then, PHCCI has gone a long way in terms of bigness and financial soundness. From its inception to the present, its membership has increased many times over.