Question 1

What is Cooperative Bank of Cotabato?

Accepted Answer

Cooperative Bank of Cotabato (CBC) is a cooperative bank based in the Philippines that serves cooperatives and their members across Mindanao. Originally established as the Cooperative Rural Bank of North Cotabato, Inc. (CRBNCI), the bank was created under Presidential Decree No. 175 and Letter of Instruction No. 23 during the Marcos administration to strengthen the cooperative movement in the country.

CBC operates with a dual role as both a bank and a cooperative, providing retail and institutionalized banking services. The bank is regulated by the Bangko Sentral ng Pilipinas (BSP) and registered with the Cooperative Development Authority (CDA).

Question 2

When was Cooperative Bank of Cotabato founded?

Accepted Answer

Cooperative Bank of Cotabato was granted its permit to operate on April 18, 1979. The bank was founded by farmers through the Kilusang Bayan Bangko Rural ng Hilagang Kutabato, a federation of Samahang Nayons (village associations) in the province of Cotabato.

The founding capital of 500,000 Philippine pesos was pooled through forced savings in the form of Barangay Savings Fund (BSF) and a three percent retention from loans under the government's Masagana 99 Agricultural Credit Program. The founding incorporators included Nicasio I. Into as Chairman, David J. Torres as Vice Chairman, Celestino L. Lareña as Secretary, Raymundo F. Flauta as Treasurer, and Francis R. Fugata Sr. as Director, with Felino B. Aquino appointed as the founding General Manager.

CBC made history by opening the first branch of any cooperative bank in the Philippines when it established its Midsayap branch on September 5, 1983.

Question 3

Where is Cooperative Bank of Cotabato headquartered?

Accepted Answer

Cooperative Bank of Cotabato is headquartered at CBC Building, Jose Abad Santos Street, Kidapawan City, North Cotabato, Philippines. The head office opened at this location on August 28, 1998.

Question 4

Where does Cooperative Bank of Cotabato operate?

Accepted Answer

Cooperative Bank of Cotabato operates extensively across Mindanao, with branches in multiple provinces. The bank has locations in North Cotabato (Kidapawan City, Midsayap, M'lang, Pigcawayan, Antipas, Kabacan, Makilala), South Cotabato (Koronadal, Surallah, Polomolok), Sultan Kudarat (Isulan, Lebak, Tacurong), Bukidnon (Don Carlos), Davao del Sur (Bansalan, Sulop, Santa Cruz), and Sarangani (Glan).

As of 2024, the bank operates over 17 branches across these regions. The most recent branch opening was the Glan Branch on March 27, 2024.

Question 5

What services does Cooperative Bank of Cotabato offer?

Accepted Answer

Cooperative Bank of Cotabato provides comprehensive banking services to cooperatives, their members, and the general public. These services include:

Lending services: Agricultural loans (supervised and non-supervised), commercial and industrial loans, salary loans, pensioner's loans, multipurpose loans for government employees and DepEd teachers, microfinance loans, agri-finance loans, SME loans, back-to-back loans, barangay official loans, and Water Access, Sanitation & Hygiene (WASH) loans.

Deposit services: Regular savings deposits, time deposits, Kiddie Savers deposits, and Youth Savers deposits with competitive interest rates.

Digital banking services: The bank offers the CBC Pay mobile banking application, available on both iOS and Android platforms. The app provides comprehensive digital banking features including mobile load purchases, bills payment, online shopping, loan applications, balance inquiries, balance transfers, QRPh Connect for QR code-based transactions, Instapay/Pesonet transfers for real-time interbank transactions, digital account opening with eKYC (electronic Know Your Customer), remittance services, and bulk disbursement capabilities.

The bank also provides access through a network of Cash Teller Machines and multi-channel payment gateways.

Question 6

What makes Cooperative Bank of Cotabato unique?

Accepted Answer

Cooperative Bank of Cotabato holds the distinction of being the first cooperative bank in the Philippines to open a branch, establishing this milestone with its Midsayap branch in 1983. The bank operates under a unique dual identity as both a bank regulated by the BSP and a cooperative registered with the CDA.

CBC's tagline, "A Bank with Genuine Service," reflects its commitment to effectiveness, efficiency, transparency, and fair treatment of all members. The bank emphasizes serving its member-cooperatives by strengthening their bankability and providing tailored financial products based on their organizational capacities.

Unlike traditional banks, CBC is owned by cooperative organizations that hold common shares as regular members, with associate members holding preferred shares. This cooperative structure ensures that the bank's primary focus remains on serving the agricultural and cooperative sectors in Mindanao, while also extending services to non-members and the general public.

Question 7

What type of financial institution is Cooperative Bank of Cotabato?

Accepted Answer

Cooperative Bank of Cotabato is classified as a Cooperative Bank under Philippine banking regulations. This is one of seven recognized bank classifications in the Philippines, as defined by the Bangko Sentral ng Pilipinas (BSP).

Cooperative banks in the Philippines are organized specifically to provide financial services to cooperatives and their members, though they may also serve non-members and the general public. They are governed by Chapter XII of Republic Act No. 9520 (the Philippine Cooperative Code of 2008) and must be registered with both the Cooperative Development Authority (CDA) as a cooperative and licensed by the BSP as a bank. Only cooperative organizations registered under the Philippine Cooperative Code may establish or own shares in a cooperative bank.

The minimum paid-up capital requirement for cooperative banks is 10 million Philippine pesos, and they enjoy the same privileges as rural, thrift, commercial, and universal banks regarding rediscounting with the BSP and government banks.

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