HPP Employees Credit Cooperative (HPPECC) closed 2016 with exceptional results, generating an audited net surplus of P1,883,326.19 – a 448% increase from the P343,530.32 recorded the previous year.

The increase was attributed to sustained patronage of the Coop’s loan products from a mere 269 loans granted in 2015 amounting to P7,979,254.54 to a total of 919 loans granted in 2016 amounting to P16,861,462.09. Additionally, HPPECC membership base nearly doubled from 480 members in 2015 to 916 members in 2016.

“The foundations of HPPECC has been laid out. We only need to continue what we have started and I have no doubt that our cooperative will fly. Your board of directors and officers are determined to maintain, if not exceed, what we have accomplished last year this 2017. We remain committed to HPPECC and what it stands for which is to help our members with their financial needs while at the same time, secure their investment in the cooperative,” said HPPECC Chairman Val Hilario.

In 2017, HPPECC plans to increase its authorized capitalization to P50,000,000.00 from the current P10,000,000.00. This is due to the continued increase in membership as well as members’ desire to invest in the cooperative.