The Credit Surety Fund Section of the CDA Region 1 Extension Office continues its efforts to establish a Credit Surety Fund Cooperative in Ilocos Norte. As part of this initiative, a consultative meeting was held with key stakeholders, including Vice Governor Cecilia Araneta-Marcos and members of the Sangguniang Panlalawigan Oversight Committee on Cooperatives, Hon. Jonathan Torralba and Senior Board Member, Hon. Rafael Chua-Medina.

During the meeting, with the assistance of CDS II Jomar R. Palsimon,                                     Ms. Renee Faye DG. Carino provided a brief overview of the Credit Surety Fund (CSF) concept, highlighting its potential benefits for the local government unit (LGU) and micro, small, and medium enterprises (MSMEs) including cooperatives in the province.

The SP members expressed interest in the CSF concept and requested a follow-up meeting to involve potential cooperatives. This meeting will aim to gather pledges from cooperatives regarding their contributions to the proposed CSF Cooperative.Additionally, the SP members requested a list of non-compliant cooperatives to enable them to draft a resolution aimed at assisting these cooperatives in complying with mandatory reporting requirements. This will ultimately facilitate their participation in the proposed CSF Cooperative.

By collaborating with local government officials and cooperatives, the CDA Region 1 Extension Office is taking significant steps to establish a sustainable Credit Surety Fund Cooperative that will benefit the entire province of Ilocos Norte.