Succ Multipurpose Cooperative Succ

The official birth of Silliman University Community Cooperative (SUCC) took place on August 30, 1962 with 15 founding faculty and staff. The cooperative team was led by Mr. David P. Resposo as president, Atty. Rolando V. del Carmen as vice-president, Mr. Leon P. Lim as treasurer, Mr. Severino A. Tabasuares as secretary, Mr. Juanito T. Magbanua and Dr. Timoteo S. Oracion as directors. The union was registered with the Cooperative Administration Office (CAO) as Silliman University Cooperative Credit Union (SUCCU) and it commenced operations on November 12, 1962. On June 9, 1975, SUCCU was registered as Silliman University Credit Cooperative, Inc.(SUCCI) with registration no. FF-110 RR as a Kilusang Bayan (KB) with updated by laws. In compliance with the requirements of RA 6938 and RA 6939, SUCCI’s registration was confirmed on September 30, 1991 by the Cooperative Development Authority (CDA) office under confirmation no. CBU-C-263. The cooperative had the following initial purposes as its reasons for being: “To promote thrift among its members, to loan funds for productive and provident purposes, and to educate the members in the management and wise use of money.” SUCC started with an owners’ capital of Php7,605 and 25 pioneering members. On January 24, 2004, SUCC undertook a housing project, name Silliman Heights. Which completed 153 housing units. As a whole the presence of capable and dedicated leadership in the Board and management influenced greatly SUCC’s triumph over its problems. Moreover, the support of the Silliman University administration strengthened the coop’s operation. Also, enlightened and quality membership boosted the maturation process of the cooperative. Finally, the grace of God is the main impetus for whatever SUCC is today.