In the early 1970’s, many Claverianos were over-burdened by socio–economic difficulties more so with those in the depressed and remote barangays. This situation was aggravated by series of natural calamities which devastated crops, houses and infrastructures that cost thousands or even millions of pesos.

Solution was a must to address the situation and through the initiative of Mrs. Petrona E. Aguinaldo, a nurse and her husband Juan Aguinaldo, a former teacher, the Claveria Grassroots Credit Cooperative Incorporated was organized on August 6, 1972. Their concern and commitment to assist the Grassroots was complemented morally and supplemented financially by a very dedicated and service-oriented German-Priest, Fr. Edward Prawdzik, SVD, who was then the Parish Priest of Claveria. He was also the treasure keeper of the cooperative during its early stage.