ILOILO CITY: Western Visayas has two billionaire cooperatives based in Antique out of the 2,012 cooperatives registered in the region, proving that cooperativism is alive in Western Visayas, the Cooperative Development Authority (CDA) said Tuesday. During the Kapihan sa Bagong Pilipinas public briefing, CDA regional director Antonio Escobar said the Barbaza and Bugasong Multi-Purpose Cooperatives are billionaires in terms of assets.

According to Philippines News Agency, Barbaza Multi-Purpose Cooperative ranks first in Region 6 with assets reaching PHP3 billion and counting, closely followed by Bugasong Multi-Purpose Cooperative. Both cooperatives have surpassed the micro, small, medium, and large categories based on asset size. Escobar noted that successful cooperatives in Antique have roots in the church, particularly with the Mill Hill Missionaries, and some have been in existence for around 50 years.

The cooperatives are church-based with strong foundations due to religious and value formation. Escobar e
mphasized that their officers are educated, with many coming from the teaching profession. He mentioned that about 72 percent of the cooperatives fall within the micro and small categories. Escobar advocated for cooperatives to be viewed as a way of life rather than merely a business model, emphasizing service above profit.

CDA data revealed that of the over 2,000 cooperatives in the region, only 644 are compliant as of the end of 2023. These cooperatives have a total membership of 879,210, with 537,486 being female.