VIGAN CITY, Ilocos Sur — In a continued effort to strengthen the financial consumer protection within cooperatives, the Cooperative Development Authority (CDA) Regional Office I, in collaboration with the Provincial Cooperative Development Office of Ilocos Sur and the Vigan City Cooperative Development Office, conducted a one-day Orientation on RA 11765 or the Financial Products and Services Consumer Protection Act (FCPA) and a Workshop on the Preparation of GAP Analysis Report and Board-Approved Action Plan. The event was held on June 23, 2025, at the Vigan City Capitol.

A total of 98 participants from 38 cooperatives across Ilocos Sur offering financial services attended the orientation and workshop. These cooperatives play a vital role in community economic development, and the event served as a timely initiative to align their operations with the mandates of RA 11765.

Mr. Sherwin Arcipe, provided an in-depth discussion on the RA 11765 emphasizing the duties and responsibilities of Cooperative Development Authority Regulated Entities (CDARES) in ensuring transparency, fairness, and accountability in dealing with their members and clients. Following the orientation, Ms. Rocelyn Banayat discussed the Preparation of GAP Analysis and conducted a workshop to guide the participants through the process of preparing a GAP Analysis Report and crafting a Board-Approved Action Plan to bridge the identified compliance gaps.

This capacity-building activity aimed to empower cooperatives by enhancing their knowledge of regulatory requirements, promoting proactive compliance, and ultimately safeguarding the interests of financial consumers within their communities.

The event was graced by the presence of Mr. Sherwin Arcipe, Ms. Rocelyn Banayat, Mr. Florentino Lorenzana, and Ms. Joy P. Basingel, who actively engaged with the participants. Also in attendance were Mx. Liezl P. Alonzo of the Provincial Cooperative Development Office and Mr. Hermie Etrata, head of the Vigan City Cooperative Development Office, who expressed their support for the continued development and capacity-building of cooperatives in the region

(Joy P. Basingel).