Featured in Success Magazine
May 2004


by: Josemarie H. Villavicenio

True to its slogan, and without much hype, this financial institution has been fulfilling  its promises, both to its people and clients. 

Incorporated way back 1986 as Future Assurance Planners, Inc., this company now called First Country , Inc. has so much to brag about. Yet, it had remained reserved thriving through word-of-mouth advertising by thousands of its satisfied clients.

For one, it has been honoring all claims without delay. Its trust fund has always been more than sufficient to meet all present and future trust liabilities. Its liquid assets are more than seven times all its liabilities while its long term hard assets at least thirty times more than said liabilities.

We are not a giant yet in the industry”,  says its President, Atty. Hans Paolo Bulos, “but we are very liquid and in the end, that’s what counts”, he continues. While he admits that the company has quite a long way to go in catching up with the older and bigger companies, he reveals that the policy of the company is more towards a “slow but sure growth” rather than a what could be reckless moves to spend more in promotional and recruitment activities, for example, for the possibility but not certainty of selling more.

When asked about the company’s “secrets” in maintaining its financial health, Atty. Bulos said jokingly, “We don’t have secrets. If we do, we won’t tell you.”  Then in a serious tone continues, “Just basic financial rules that apply even for individuals. Spend less than what you earn and invest the difference. As for our industry, deposit to your trust fund what is required by the SEC, if not more. Do not make hasty investment and expenditure decisions that are not in the ordinary course of business. As to programs and projects, think outside the box. It’s not just a matter of trying to do better than what the competition is doing. It’s about doing things differently from the traditional ways of doing business. Otherwise, you will be just following in their footsteps.

"We don’t compete with others. We compete with ourselves. Thus, it is not necessary that we be the first all the time. What is important is we try always to improve ourselves, to provide the best possibilities we can offer.”

Presently, the strength of First Country still lies with its dedicated and productive “traditional” in-house sales group. Moreover, through ties with its sister bank, First Country Bank and the Luzon Educators’ Credit Cooperative, it has a captured market in public school teachers who avail of low interest loans packaged with the Company’s pension plans. “The teachers appreciate it. Instead of being charged high interest rates, they are able to use what they save in interest in saving for their future”, Atty. Bulos proudly says.

The company also has diversified into other products related to health for its people to sell. Agents come and go. They go when they are not earning enough. Some sell other products, usually tangible consumer products from other companies as a sideline. After all, selling pre-need products, insurance or anything intangible is not easy for some. So we give our people other products to sell giving them more opportunity to earn – even on a daily basis. We don’t want any of them to go . We want them to stay, do their “sideline” selling activities with us, and build their careers with us, Atty. Bulos explains. “Eventually, we will spin off said products to a new subsidiary, but that is not a priority”, he continues.

Another ace in favor of the company is First Country Cooperative, an institutional cooperative of those connected with First Country Group of Companies, that provides significant advantages and benefits to its personnel, agents and even the Company’s planholders. “Big industries, specially in Europe, are run through ‘cooperativism’. Our cooperative is on its way to being a giant too. Many times, people choose First Country because of our cooperative”,   Atty. Bulos revealed.

Apparently, this Company is not only conservative and stable. It is imaginative, energetic and growing as well. Indeed also, it has proven itself and continues to prove that it lives by its motto, “Above all Integrity!!!”.

Success Magazine: pp 31-33