Brief Introduction

The Metro South Cooperative Bank (MSCB) is the first cooperative bank in the National Capital Region (NCR). It is a unique bank registered with the Cooperative Development Authority (CDA) as a cooperative, and with the Bangko Sentral ng Pilipinas (BSP), as a bank under the cooperation and rural banking system.

On March 24, 1997, Metro South Cooperative Bank started banking operation with an initial capital of P33.0 million contributed by thirty-four (34) member cooperative stockholders. The founding member cooperatives envisioned the bank to be the leading cooperative bank in the Philippines by providing banking services primarily to cooperatives which at that time were mostly un-served by the formal banking system due to negative connotations of cooperatives as unstable and therefore non bankable.

Taking advantage of its unique position, MSCB pioneered cooperative banking in the country as opposed to the then prevailing practice of other cooperative banks which were operating as rural banks providing loans to individuals and other non-coop entities. Cooperative banking meant MSCB’s steadfast commitment on investing its lending funds primarily with cooperatives in spite of BSP regulatory prohibitions and cautions against lending primarily to stockholders. After several years of successful operations proving that cooperatives are bankable, BSP relented by issuing a BSP circular exempting cooperative banks from prohibitions on providing loans primarily to its cooperative stockholders.

After 21 years of cooperative banking operation, MSCB is now owned by more than 800 cooperatives nationwide with a total paid in capital and net worth of P587.3M and P656.0M respectively and total assets of P 3.48B as of December 31, 2017.

However, MSCB will only be able to achieve what is founding member cooperatives envision the Bank to be with the full support of its member stockholders. After all, as is true with other cooperatives, MSCB’s strength rest on the support and patronage of its member cooperative stockholders.

The use of technology in expanding its reach will be the focus area of MSCB. Technological innovation will not only enable a wider market reach for consumer banking, it will also enhance its capacity for continuous and inclusive growth. It shall enable a paradigm shift in the banking industry and re-shape the way consumers engage with the Bank. It shall also create new opportunities to meet customer expectation.

In 2018, MSCB will undergo a digital transformation as the first cooperative bank that will collaborate with leading Fintech companies enabling MSCB to expand and attract other markets, tapping into segments that have not been tapped before; thereby leading the cooperative sector towards a digital future.