brief history OF BUGEMCO
Bukidnon Government Employees Multi- Purpose Cooperative (BUGEMCO) started its humble beginnings about 30 years ago with only twenty-five (25) employees from different provincial offices which paved the way of the birth of the Bukidnon Government Employees Credit Cooperative (BUGECCI) in 1989. BUGECCI was a closed type cooperative and was registered at the Cooperative Development Authority on April 08,1991.
During its first year of operation in 1991-1992, there were only 205 members with total assets of only ₱ 635,000.00 and a paid-up share capital of ₱ 257,000.00. After at least two (2) years of its operation, the officers realized that there was a need to amend the Articles of Cooperation and By-Laws based on the provision increasing the authorized share capital from ₱ 200,000.00 to ₱ 20,000,000.00. The amendments also included the change of name from BUGECCI to BUGEMCO and was registered at the Cooperative Development Authority on March 23,1994.
At present, BUGEMCO is already serving more than 15,000 members.
As of December 2021,its assets catapulted to ₱ 1,330,502,167 from ₱ 1,100,559,397 in 2020 or an increase of 21%.
In 2013, the Board of Directors decided to expand its membership and services to the non-government employees. At present, the cooperative has seven (7) branches: Malaybalay City, Valencia City, Maramag, Manolo Fortich, Kibawe and Sumilao, one (1) Learning Center and one (1) Grocery Store.