In 1981, a group of 43 dedicated employees from
Advance Micro Devices came together with a mission to support their fellow colleagues facing financial difficulties. Recognizing the pressing needs of their colleagues and their families, these individuals each contributed Five Hundred Pesos (₱500), collectively raising Twenty-One Thousand Five Hundred Pesos (₱21,500). This noble initiative marked the birth of the cooperative on
January 6, 1981. Initially, the cooperative served as a financial safety net for employees, providing a crucial resource in times of financial emergencies and promoting regular savings through monthly contributions known as Fixed Dues or Share Capital Contributions.
Early Beginnings and Development
The cooperative started with two primary loan offerings: the Provident Loan and the Character Loan. These options laid the groundwork for supporting members with their immediate financial needs.
Expansion and Diversification
Over time, the cooperative, now known as the Amkor Technology Philippines Employees Cooperative, has expanded significantly. It currently offers a total of twenty-one different loan types, catering to a wide array of member needs. The cooperative also introduced a voluntary savings option, the Mutual Funds, which includes Fixed Income Funds, Balanced Funds, and Equity Funds, allowing members to diversify their savings.
In 1990, the cooperative expanded its services by transitioning from a credit cooperative to a multipurpose cooperative, allowing it to offer more than just savings and loans. Today, its business activities include franchising and operating a Petron Gas Station in Sto. Tomas, Batangas, as well as owning a Dormitory Building in Biñan, Laguna. Additionally, the cooperative provides a variety of merchandise from accredited vendors, offering members convenient access to essential goods. This diversification reflects the cooperative’s commitment to meeting the evolving needs of its members.
Sustaining Growth and Financial Stability through Digitalization
Amkor Coop has made significant advancement in their digital financial platform, building resilience and recognizing that lending operations remain its primary source of income. The introduction of the "TMI Portal" allows for 24/7 online automated loan assessment and approval, providing significant convenience to members, particularly during the pandemic, and beyond. In 2017, ATPECOOP implemented Microsoft 365 and Microsoft SharePoint for Enterprise Content Management (ECM) solutions . This initiative was intended to modernize content management operations, improving scalability, visibility, and control across the organization.
Since 2017, the cooperative has successfully adhered to (CISA) - Credit Information System Act or Republic Act No. 9510, has registered with the National Privacy Commission (NPC) for the compliance of the Data Privacy Act, and have complied with other regulatory requirements.
Additionally, the cooperative's financial stability has been bolstered by the continuous capitalization from its members, enabling it to explore new business opportunities beyond its traditional offerings.
Commitment to Members and Community
The cooperative remains committed to its founding principles, balancing its moral obligations with the need to sustain profitable operations. It prioritizes meeting members' financial needs, promoting financial discipline, and encouraging savings and thriftiness. The cooperative's challenge lies not only in enhancing member services and increasing dividends and patronage refunds but also in uplifting the socio-economic and living standards of its members, especially those who are less privileged.
Amkor Technology Philippines Employees Cooperative stands as a testament to the power of collective effort and shared values. It continues to evolve, driven by the dedication of its members, to improve the well-being of its community while maintaining its core mission of financial support and empowerment.