Galimuyod, Ilocos Sur – August 13, 2026. — A total of 127 cooperative officers representing micro and small cooperatives in the Province of Ilocos Sur gathered at the Sacred Heart Savings Cooperative, Galimuyod, Ilocos Sur for an orientation on Republic Act No. 11765, otherwise known as the Financial Products and Services Consumer Protection Act (FCPA), and other related Cooperative Development Authority (CDA) issuances.
The activity was conducted through the partnership of the CDA Region I Extension Office, the Ilocos Sur Union Cooperative, and the Local Government Unit of Candon City, Ilocos Sur, reflecting the shared commitment of government and the cooperative sector to strengthen financial consumer protection and promote responsible, transparent, and member-centered cooperative financial services.
RA No. 11765 establishes a framework for protecting consumers of financial products and services and emphasizes the responsibility of financial service providers to uphold fair treatment, transparency, protection of consumer assets, and effective mechanisms for the handling and resolution of complaints. For cooperatives offering financial products and services, the law is implemented through the CDA’s regulatory framework, including CDA Memorandum Circular No. 2023-14, which provides the Implementing Rules and Regulations of RA No. 11765.
The activity formally opened with the welcome remarks of Mr. Efraim Dayap, Chairperson of the Ilocos Sur Union Cooperative, who welcomed the participants and underscored the importance of cooperation and collective action in strengthening the cooperative movement in the province.
Providing the rationale of the activity, Ms. Grace L. Ramos, City Cooperative Development Officer of Candon City, Ilocos Sur, emphasized the significance of equipping cooperative officers with the necessary knowledge and understanding of the laws and regulatory issuances governing their operations.
The orientation recognized that while micro and small cooperatives play an important role in providing accessible financial products and services to their members, they must likewise ensure that their operations are anchored on fairness, transparency, accountability, and protection of members as financial consumers.
The main discussion was facilitated by Ms. Rocelyn C. Banayat, CDS II of the Credit Surety Fund Section, who provided the participants with an overview of RA No. 11765 and its related CDA issuances.
The discussion highlighted the essential responsibilities of cooperatives as providers of financial products and services, particularly the need to establish systems and practices that protect the rights and interests of their members.
Among the significant areas discussed were the principles of financial consumer protection, including equitable and fair treatment, protection of consumer assets against fraud and misuse, disclosure and transparency of financial products and services, and timely handling and redress of complaints. These are among the key consumer protection responsibilities emphasized by the CDA in implementing RA No. 11765.
Particular emphasis was given to the Guidelines on the Establishment of the Financial Consumer Protection Assistance Management System (FCPAMS) under CDA Memorandum Circular No. 2025-08.
The FCPAMS is designed to provide cooperatives with a structured mechanism for receiving, documenting, managing, and responding to financial consumer concerns and complaints. The system seeks to institutionalize an effective consumer assistance and redress mechanism within cooperatives while strengthening accountability in the delivery of financial products and services.
Ms. Banayat emphasized that compliance with financial consumer protection requirements should not merely be viewed as a regulatory obligation but as an integral part of good governance and responsible cooperative management. Establishing an effective consumer protection assistance mechanism can help cooperatives respond appropriately to members’ concerns, improve their systems and procedures, and strengthen the confidence and trust of their members.
The orientation also served as an opportunity for participants to better appreciate the importance of aligning their cooperative’s existing policies, procedures, and practices with the requirements of the FCPA and applicable CDA issuances.
The successful conduct of the activity was further supported by Mr. Florentino Lorenzana, Provincial Cooperative Development Specialist, and Ms. Joy Salibad, CDS II, who assisted in facilitating and coordinating the activity.
Their participation, together with the support of the Ilocos Sur Union Cooperative and the LGU of Candon City, contributed to the successful delivery of the learning activity to the participating cooperative officers.
The orientation concluded with a renewed commitment among participating cooperatives to strengthen their internal policies, procedures, and mechanisms for financial consumer protection.
For micro and small cooperatives, compliance with RA No. 11765 presents not only a regulatory responsibility but also an opportunity to strengthen their relationship with members. By ensuring that financial products and services are offered with transparency, fairness, accountability, and appropriate consumer assistance mechanisms, cooperatives can further enhance the trust of their members and reinforce their role as responsive and sustainable community-based institutions.
As cooperatives continue to evolve as providers of financial products and services, the effective implementation of RA No. 11765 and related CDA issuances remains vital in fostering trust, confidence, accountability, and sustainable cooperative development.
Prepared by:
Rocelyn C. Banayat
CDS II
