Brief History

Brief History of St. Luke’s Medical Center (SLMC) Multi-Purpose Cooperative (MPC)

The idea of forming a cooperative was undertaken thru the initiative of its members and the President, Mr. E.R. Montoya. The cooperative was registered under the name ST. LUKE’S COOPERATIVE CREDIT UNION, INC. on July 29, 1963, in the office of Cooperative Administration Office with Certificate of Registration No. 000720.

The cooperative was composed of fifteen (15) incorporators and was headed by five (5) Directors:
  • Mr. E.R. Montoya
  • Dr. Prospero M. Oreta
  • Dr. Arsenio C. Cantos
  • Miss Bienvineda Alonzo
  • Miss Francisca Pongos

Initial members were sixty-six (66) with initial fixed deposits of P1,251.00. Membership was restricted to bona fide employees of St. Luke’s Medical Center and St. Luke’s School of Nursing, considered members upon payment of a Php 1.00 entrance fee. Dues were made through salary deductions, including two types of deposits:

  • Fixed Deposits – at least Php 50.00, payable in full or in monthly installments of not less than Php 5.00.
  • Savings Deposits – in such amount and intervals as members may elect.

As the cooperative continued to operate, its membership and dues increased. In a special General Assembly meeting on April 6, 1995, a resolution was passed amending the name to ST. LUKE’S MEDICAL CENTER MULTI-PURPOSE COOPERATIVE. This was registered and approved by the Cooperative Development Authority (CDA) under Certificate No. N-122-0248-005.

As a Multi-Purpose Cooperative, its services now include:
  • Cash Loans
  • Appliance Loans
  • Rice Loans
  • Partial-Grocery Items
  • Others (pager, cellphone, household appliances)

As of November 1997, there was a new set of officers and a total of 705 members.

SLMC MPC History