Fishery cooperatives can co-manage coastal fishery resources, help improve the living conditions of small-scale fishers, and slow down the rapid depletion of these resources. Ten fisherfolk cooperatives in Capiz, central Philippines were assessed for their willingness to co-manage fishery resources. Seventeen members and three officers randomly selected from each of six mainland and four island-based cooperatives were interviewed using a pre-tested interview schedule. Statistical tools were employed to analyze field data. Specific factors related to origin and background, membership, management, and economic factors affect the success of cooperatives. Most cooperative members (74%) were willing to assume responsibility in managing fishery resources. Apathy and lack of advocacy and lobbying skills prevent the members from acquiring control and use rights over fishery resources. About 52% of them were aware of the 1991 Local Government Code and the provision on the participation of people's organization in local governance.