When Paknaanon Multipurpose Cooperative (PAMULCO) was created in 2005, they had the vision to uplift the lives of Paknaanons by tapping into cooperativism to build a sustainable community of broom-makers.
However, they had difficulties in managing their cooperative. But when organizations like the Aboitiz Foundation started helping PAMULCO, their vision slowly turned into reality.
Through the Foundation’s enterprise development program, PAMULCO was granted its first loan of PHP150,000 in 2010. They used this to improve the cooperative’s profitability and gain financial stability. For PAMULCO, continuous learning and improvement ensure the sustained success of the cooperative. Today, the cooperative has come a long way from a humble group with very minimal capital and an uncertain future, to a robust organization capable of uplifting its members’ lives through microfinance.
“The assistance and training that the Aboitiz Foundation provided us are very important. Before, our members on the field do not make daily income. Now, their incomes are more regular because of the cooperative’s support. Their lives have improved.”
-Virgilio M. Aniel, Sr.,Board Chairman, PAMULCO