The municipal government of Socorro, Surigao del Norte, once found itself in a quagmire of financial distress, living on a hand-to-hand existence. This dire situation was marked by heavily indebted officials and employees who, despite receiving their hard-earned salaries from the Municipal Treasurer every payday, would immediately turn them over to loan sharks. The dignity of these workers was further eroded when store owners ridiculed them as individuals who held jobs and titles but had no control over their own salaries, which effectively belonged to the businessmen they owed.
Amidst this bleak economic backdrop and driven by extreme necessity, on May 27, 1996, fifty-one (51) officials and employees of the municipal government of Socorro decided to organize a cooperative through the initiative of Mr. Reynerio T. Canta, Sr., former Municipal Planning and Development Coordinator, and Mr. Edelito C. Sangco, former Municipal Agricultural Officer and Municipal Cooperative Development Officer-Designate.
Subsequently, the Socorro Government Officials and Employees Multi-Purpose Cooperative (SOEMCO) was officially registered with the Cooperative Development Authority (CDA) on November 8, 1996, under Registration Number CARA-0111. The cooperative’s initial paid-up capital of ₱33,500.00 was used to purchase basic goods in Surigao City. Members voluntarily repacked commodities such as sugar and rice, which were displayed and sold at a rented stall in the public market—thus marking the humble beginnings of the SOEMCO Consumers Store.
The following year, SOEMCO secured a loan from the Land Bank of the Philippines (LBP) for relending to its members. Membership later expanded to include employees from other government and private agencies. In 2000, with the continued support of LBP, SOEMCO launched its Member-Savings Operation (MSO), allowing the cooperative to accept savings and time deposits from members—ushering in the SOEMCO Credit and Savings Operation.
THEN
NOW
In 2004, the General Assembly approved an amendment to the cooperative’s name, officially becoming the Socorro Empowered People’s Cooperative (SOEMCO). The cooperative also changed its common bond of membership from institutional to residential, opening its doors to the wider community. That same year, SOEMCO affiliated with and participated in the Professionalization Program of the Philippine Federation of Credit Cooperatives – Mindanao League (PFCCO-ML).
In 2006, SOEMCO further strengthened its network by affiliating with the Mindanao Alliance of Self-Help Societies – Southern Philippines Educational Cooperative Center (MASS-SPECC) and the Coop NATCCO Partylist. Three years later, in 2009, it became affiliated with the National Confederation of Cooperatives (NATCCO Network). Most recently, in 2019, SOEMCO joined the Philippine Family Farmers’ Agriculture, Fishery, and Forestry Cooperatives Federation (AgriCooph), further diversifying its partnerships and advocacy reach.
Today, SOEMCO proudly operates ten (10) branches and one (1) satellite office serving the growing needs of its members across the Caraga Region. From its modest beginnings in 1996, born out of hardship and necessity, SOEMCO has evolved into a strong, values-driven cooperative—empowering communities, uplifting livelihoods, and embodying the true spirit of cooperation.
Indeed, the story of SOEMCO is not merely one of survival, but of transformation—proof that unity, perseverance, and shared purpose can turn adversity into opportunity, and vision into enduring legacy.