Anchored on its goal of “Helping People Help Themselves”, the Quick and Fast Credit Cooperative (QFCC), finally opened its door to the public through a soft launch last February 8, in Malate, Manila.
A subsidiary of Quick and Fast Logistics International owned and operated by Carmela Tadeo, QFCC aims to provide C.H.R.I.S.T. –centered, services through its various savings packages.
CHRIST stands for Cooperation, Humility, Respect, Integrity, Sense of Community and Honesty and Transparency. It came into being after super-typhoon Yolanda devastated almost the entire Visayas that left thousands dead and millions in damaged properties and livelihood.
After Yolanda, the Carmela Tadeo Foundation Inc. which is primarily a scholarship foundation, has seen the need to help typhoon victims particularly in Bantayan Island in northern Cebu.
QFCC having been an inter-office cooperative under the Carmela Tadeo group of companies for a decade already, has given employees enough savings for them to use in case of crises.
Thus, kind-hearted employees gathered all their savings that amounted to P2 million which they used as seed money for the cooperative, part of which was donated to the foundation and was used in the relief operations in Bantayan Island.
Now the successful inter-office cooperative has opened its door to the working public with the goal of not only transforming the working class as financially literate individuals, but also to expose them to the beauty of helping the needy through the various saving packages.
QFCC chairperson Mel Tadeo and vice-chairperson Mary Ann Gonzales unveiled the coop's logo during it's soft launch last February 8, at the Ramon Magsaysay Center in Malate, Manila.
Various Savings Packages
The packages include the Regular, Educational, Share Capital, Helping Hands and Youth & Kiddie savings respectively.
Under the Regular Savings package, members will have a maintaining balance of P300, with no service charge even if the amount left is only P100 and has been dormant. It shall enjoy a 3% annual interest, provided that it is within the maintaining balance that is P500. Plus a member can withdraw from his savings anytime.
Meanwhile, the Educational Savings shall have a maintaining balance of P300, but shall not be deducted a service charge if it’s below the said amount. It will enjoy a 3% annual interest provided that it is within the maintaining balance of P500. The minimum deposit should be P20 and the savings can be withdrawn upon the enrollment of the sponsored student.
The Share Capital Savings on the other hand shall have an initial deposit of P100, cannot be withdrawn and will enjoy a dividend at the end of the year.
Helping Hands Savings shall have a maintaining balance of P300 and minimum deposit should be P20, and will get a 2% annual interest. Under this package, an automatic deduction of P20 will be implemented to serve as burial assistance in case a member dies. P5 meanwhile shall be deducted should a member be hospitalized due to accident or natural diseases.
The Youth & Kiddie Savings shall have a maintaining balance of P100 and will receive a 3% annual interest. A member can make withdrawal anytime, as long as the savings is not below the maintaining balance.
During the launch, Tadeo who owns 10 other companies, such as Quick and Fast Logistics International, Carmella Home Properties, Aqua Serve, UV Express, Kinula Laundry Shop and Carry All Mobile and Catering among others revealed that, a percentage of the cooperative’s profit will go to the foundation to raise funds for the rehabilitation efforts of the company in Bantayan Island.
Tadeo who is from a destitute family hails from a mountain barangay in Bulacan, has successfully founded these companies through hardwork, determination and strong faith in God.
A consistent honor student from elementary to college, Tadeo finished commerce as cum laude and is a CPA.
Working as tutor to cousins during weekend in high school after graduating valedictorian in elementary, Tadeo went on to become a scholar of the Bulacan Foundation.
“Pwede na akong huminto magnegosyo, makapagrelax at magtravel abroad kahit monthly pa. Pero kawawa naman ang mga empleyado at mga kaibigan ko. Hindi naman yata makakaya ng konsensya ko na okay ako, samantalang sila namomobrelema. So I told God, I want to serve You and give back. Tulungan mo ako. So ito na yun, tuturuan natin sila. We can be millionaires in due time. Possible yun,” Tadeo ended.
The Diamond Tree. A red ribbon will be tied in each diamond everytime the cooperative will have a new member. This will serve as the management's motivation to reach out to more people for this tree to be fully covered with red. There are 500K pieces of diamonds in this tree. Two of these trees will be placed at the coop's lobby very soon.
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