In 2003, a few residents from the City of Malaybalay discussed about having a common goal and aspirations beyond the fact that they were coming from diverse institutions and sectors of the society. They talked about establishing a multi-purpose cooperative that would enable them to expand their horizon and thus, on the 8th of May, 2003, 27 individuals from different walks of life convened and collaborated to create the Pitac Multipurpose Cooperative (formerly Philippine International Travel Assistance Center Multipurpose Cooperative (PITAC- MPC)).
The name PITAC was inspired by the GAWAD PITAK (Pinakatanging Kooperatiba) AWARD, the most prestigious award by the Landbank of the Philippines “that recognizes cooperatives which exemplified the social responsibility of being agents of growth in the countryside” which the Founding Chair (Founder Emeritus), Ms. Sonia Rivera Chamen, received when she was still the General Manager of her previous employment, the Bukidnon Cooperative Bank (BCB).
The name was also decided because of the Founding Chair’s love of empowering people, catalysing change and promoting economic growth in the countryside borne from her previous job as well as her passion for travelling, meeting new people, and exploring new ideas. And so, to meet these desires and demands from various sectors both locally and globally, a travel and multipurpose cooperative became the forefront of this business.
Subsequently, a Multipurpose Cooperative was created by like-minded experienced bankers, engineers, teachers, business managers, financiers, farmers, housewives, and entrepreneurs committed to save, invest, and patronise the cooperative’s products and services for the benefit of our children’s children.
Pitac Multipurpose Cooperative was registered with the Cooperative Development Authority under Certificate of Registration No. CGY-3402 dated 27 July 2004. It is also duly registered with DTI No. 00047765.
Pitac Multipurpose Cooperative envisions to serve better the needs of the majority of its member-borrowers in the agricultural sector thru the post-harvest facilities in partnership with the Department of Agriculture – Regional Field Office X and to qualify to avail of government facilities, the multipurpose cooperative proposed the amendments of its Articles of Cooperation and By-laws including the amendment of its name from Philippine International Travel Assistance Center Multipurpose Cooperative (PITAC-MPC) to Pitac Multipurpose Cooperative on its Regular Annual General Assembly meeting held at Hotel Criselda Veranda, Casisang, Malaybalay City on May 20, 2023 and was submitted to the Cooperative Development Authority (CDA) for registration pursuant to the provisions of Republic Act No. 9520. The amendments were approved on October 19, 2023 at Quezon City, Philippines.