Asset-intensive electric utilities require systematic asset management practices to sustain service reliability, control operational risk, and support long-term infrastructure performance. This study assessed the alignment of the asset management system of a selected electric cooperative in Zambales, Philippines with ISO 55001:2024, focusing on Clauses 6 to 10: Planning, Support, Operation, Performance Evaluation, and Improvement. A qualitative case study design using framework analysis was employed. Data were gathered through semi-structured interviews with four key personnel involved in planning, operation, maintenance, monitoring, and documentation, and were supported by available documentary evidence. Interview and documentary data were organized using a clause-based matrix and interpreted according to ISO 55001:2024 Clauses 6 to 10. Findings showed that the cooperative had functional practices in risk assessment, budgeting, maintenance execution, communication, performance monitoring, and corrective response. However, implementation remained inconsistent because planning documents were fragmented, a consolidated Strategic Asset Management Plan was absent, records management was decentralized, competence development was partly informal, internal audit practices were not consistently programmed, and improvement records lacked systematic root-cause and effectiveness documentation. The study concludes that the major implementation gap is not the absence of asset-related activities but the limited control of documented information that links planning, operation, performance evaluation, and improvement. The assessment was not intended as a formal ISO certification audit but as an academic framework analysis of department-level practices. The study demonstrates the usefulness of ISO 55001 as a diagnostic framework for strengthening asset management maturity in resource-constrained electric cooperatives.