FICOBank Maddela

09/01/2023

FICOBank Breaches the Php5-Billion Mark in Resources

For over four decades in cooperative banking, FICOBank was able to achieve its greatest milestone ever—breaching the Php5-billion mark in resources. As of December 31, 2022, the total assets of the Bank settled at a historic high of Php5.51 billion.

The Bank has been remarkably successful in building up its level of resources after it had reached the first billion-peso record in 2008. With its strong market position and reputable institutional brand in its geographic areas of operation, FICOBank had notched up earlier on its resources to Php2 billion in 2011, to Php3 billion in 2014, and then to Php4 billion in 2017.

Also, the Bank wrapped up the year 2022 with total deposits of Php3.10 billion, a loan portfolio of Php3.07 billion and capital accounts of Php1.43 billion.

09/01/2023

17/01/2022

Open FICOBank’s Time Deposit Account now and experience your savings grow through time!

For concerns/complaints, email us at [email protected].

FICOBank is regulated by the Bangko Sentral ng Pilipinas.https://www.bsp.gov.ph

13/12/2021

10/02/2021

Mataas na interest ba ang problema mo?
Lipat na sa Jewelry Loan ng FICOBank! Bukod sa mababa ang interest nito, may chance ka pang manalo ng cash prize! Ano pa ang hinihintay mo? Lumipat at magsangla na sa FICOBank!

11/11/2020

01/07/2019

FICOBank: Staying in the Business of Community Banking for Good

The First Isabela Cooperative Bank (FICOBank) is one of the pioneer and prominent cooperative banks in the Philippines. Its origin is deeply rooted in the community, as it was organized 42 years ago by two cooperatives and 47 pre-cooperatives (samahang nayon), which represented the farmers who have limited resources and access to banking services. From a micro cooperative rural bank that it opted to be, it grew to a large cooperative bank, as it can now lay claim to a resource base of over Php4.34 billion (as of end-December 2018).

From the time it launched the first salvo of its banking services in 1980, FICOBank continually operates on the basis of firm and sound cooperative banking principles. And for the reason that its cooperative nature translates to “people helping people transform their lives,” FICOBank is more involved in the community than any other banking institution. To a great extent, it contributes to the socio-economic development of the people, thereby making it a valuable community asset.

FICOBank is primarily engaged in financial intermediation between and among: the farmers, fishers and their organizations; the micro, small and medium entrepreneurs; the rural, urban and overseas workers; and the other groups of financial consumers. It also provides mobile-money, money-transfer/remittance, cash-dispensing and other fee-based services to the public. Its extensive array of innovative financial products and services and its exclusive list of complementary development support and solutions are adaptive and responsive to the multi-dimensional needs of its 103 regular institutional members, 26,063 associate individual members and 72,161 depositing and borrowing clients. This proves that FICOBank is a real people's bank that has a big heart for the common good of the greatest number.

FICOBank’s products and services can be accessed by the banking public at its 36 banking units in 35 strategic locations in the provinces of Isabela, Quirino, Nueva Vizcaya, Cagayan, Tarlac, Nueva Ecija, Bataan, Pampanga, Pangasinan, Bulacan and Kalinga. These operating units effectively extend the Bank’s market reach and bolster its capability to service the growing number of clients.

True to its unique character, FICOBank is owned, managed and controlled by its regular member-cooperatives through their elected/appointed representatives. It is ably governed by its Board of Directors (BOD), which is composed of seven regular directors and two independent directors. The BOD, in its oversight function, is assisted by 11 Board-level committees. Its corporate affairs and business activities are administered and managed by the Treasury & Corporate Services Group (TCSG) and the Operation & Banking Services Group (OBSG), respectively, under the supervision of the Senior Management (SM). FICOBank employs a total of 447 personnel. It is renowned for having top-notch, high-skilled and goal-driven personnel.

FICOBank is ranked No. 1 in the Philippine cooperative banking industry (in terms of financial performance), an “AA” EAGLE Achiever in microfinance performance, a producer of Microentrepreneur of the Year (MOTY) awardees, a recipient of Gawad PITAK/PILAK, a Hall of Famer Cooperative Bank and a Ginintuang Gawad PITAK Awardee. Its outstanding performance has been consistently noticed through the years by the Land Bank of the Philippines, Cooperative Banks Federation of the Philippines, Bangko Sentral ng Pilipinas, Microfinance Council of the Philippines, Citigroup and other award-giving organizations.

FICOBank pursues to be a first-choice bank by the people in its geographic area of operation (Regions I-II-III and CAR). In full awareness of this institutional pursuit, FICOBank puts first and foremost the common interest and aspiration of its members and clients, along with their families and communities. Providing excellent customer service, fostering longer-term relationships and offering the best-possible financial solutions are FICOBank’s means to achieve that end.

FICOBank is firmly committed to its corporate-brand promise of staying in the business of community banking for good.

01/07/2019

01/07/2019

SSS Accredits FICOBank as a PRN-Based Collection Agent

FICOBank has been in partnership with the Social Security System (SSS) for a number of years now. The Bank provides the members of the latter a payment platform via its SSS Collection service. Through this service facility, the Bank acts as a collecting agent in the acceptance of payments for SSS premiums and loan amortizations.

In keeping pace with the advancement of technology, SSS adopted a real-time processing of contribution payments through the Enhanced Contribution Collection System (ECCS), using electronic-generated Payment Reference Numbers (PRNs), in partnership with the banks that can comply with its requirements. The Bank, in its desire to maintain its partnership with SSS—as a service provider—and to dovetail the latter’s ECCS, has assigned its Information & Communications Technology Department (ICTD) to take the lead in developing a system for this purpose. The said system is designed to capture the payment details required in the collection file, which forms part of the improvement of the existing platform, and to address the pre-requisite for the web service application to SSS.

In addition, the Bank has complied with all the system requirements, namely: connectivity, compliance to the e-collection file layout and capability to access SSS web services, submission of collection file and remittance report, file transfer/processing notification, and correction of collection files with invalid transaction. More importantly, the Bank had successfully passed the series of user acceptance test (UAT) held at the main office of SSS in Manila, for the system developed by the Bank, the sample collection file and the sample remittance report. As such, the Bank was subsequently registered by the Information Technology Management Group of SSS, as one of the first eight participating banks (i.e., one coop bank [FICOBank], one rural bank and six commercial banks), that is authorized to accept PRN-based contribution payments for employers, self-employed/voluntary members, overseas Filipino workers and non-working spouse.

This was followed by the signing of a Memorandum of Agreement (MOA) by both parties. This affirmed that the Bank is now an accredited SSS payment center, with facilities such as inquiry of PRN, generation of PRN, payment and end-of-day report. The PRN-based SSS Collection service was pilot-tested at the Bank’s Head office in March, this year. It is expected that up to July, this service will be available in all operating units of the Bank in Regions I-II-III and CAR.

With it, the members of SSS can conveniently pay their contributions, in real-time, by visiting any branch or center of FICOBank that is near them.