The Beginnings

Four years after the Seven Seven Hundred Seven Association of Baguio City was created, in 2014, the Association decided to separate the loan services to be monitored by another organization.

And so this gave birth to the 7-700-7 Livingstone Communities Credit Cooperative. Then Councilor Popo Cosalan, his office having been assigned Cooperatives and Livelihood Programs, was a great influence in this endeavor. About 15 new and old members of the Association had their initial planning in McDonals-Insular.

Come August of 2014, Mr Dennis Romeo of CDA gave an orientation to register a cooperative cum PMES to about 40 members of the Association. Said orientation was held in the Baguoi City Multipurpose Hall. After the orientation, a call for volunteers was made to make up the Board of Directors and other officers including the management staff.

Ms Baby Corazon Torres was the interim BOD Chairperson. A call for paid up share capital was likewise made to the members of the Association. The first 22 member-cooperators has agreed to shell out a minimum of Php2,000.00 as initial share capital. It was decided that the initial authorized share capital be Php3,000,000.00 with a total of Php175,000.00 paid up share capital, with each member's minimum share capitall pegged at Php5,000.00. Each share capital costs Php100.00.

After much delay in revising the Articles of Cooperation and By-Law, the Cooperative was finally registered with CDA last January 15, 2015. Mr. Dionisio Padio was duly elected as the Chairman of the Board.

#history