In a significant stride toward strengthening the local financial ecosystem, the Cooperative Development Authority (CDA) Region 1 Extension Office, particularly its Credit Surety Fund (CSF) Section, has extended crucial technical assistance to the La Union Credit Surety Fund Cooperative (LUCSFC). The meeting was conducted last January 16, 2024 at their office in San Fernando City, La Union.
The meeting witnessed the active participation of officers from cooperative-members of the LUCSF Cooperative, these composed of 2 officers from DENR1MPC, 1 from LUMPC, 1 from CBLU, 2 from DMMMSU MPC, 2 from Old Central MPC, 2 from LUPGEMPC, and 1 from Sungbat MPC. This diverse representation underscores the broad spectrum of expertise and experience that each officer brings to the cooperative landscape.
During the meeting, strategies for membership expansion were at the forefront of discussions. The officers, recognizing the importance of collaborative growth, unanimously agreed to conduct an orientation on Republic Act 10744 (RA 10744). The objective is to promote the Credit Surety Fund (CSF) Programs and encourage potential cooperatives to join the existing La Union Credit Surety Fund Cooperative (LUCSFC).
The strategic discussions during the meeting revolved around the pivotal goal of expanding LUCSFC’s membership base. Recognizing the strength in numbers and the potential for collective impact, the officers emphasized the need to attract more cooperatives to participate in the CSF Programs. Furthermore, the decision to conduct an orientation on RA 10744, also known as the “Credit Surety Fund Cooperative Act of 2015,” was a key highlight of the meeting. This legislative framework provides the legal basis for the establishment and operation of CSFs, offering valuable insights and incentives for cooperatives to engage in credit guarantee activities.
To maximize the orientation’s reach and efficacy, officers described plans to schedule an appointment with the Sangguniang Panlalawigan, specifically targeting the head of the Committee on Cooperatives, SP Member Cynthia Bacurnay. By gaining the support and sponsorship of local legislative bodies, the cooperative officers aim to raise awareness about CSF Programs at the provincial level.
The officers also recognized the value of proactive identification and outreach to potential cooperatives in La Union. By mapping out and understanding the cooperatives in the province, officers can tailor their outreach efforts to those entities that demonstrate potential or meet the qualification requirements for participation in CSF Programs.
This recent meeting of cooperative officers in La Union demonstrated a collective commitment to fostering cooperative growth and expanding the reach of CSF Programs. The outlined strategies, including the RA 10744 orientation, collaboration with the Sangguniang Panlalawigan, and targeted outreach efforts, signify a proactive approach toward achieving the cooperative sector’s shared vision of economic empowerment and community development. Through these concerted efforts, La Union is poised for a new chapter of cooperative expansion and success. (Renee Faye D. Cariño, Sr. CDS – CSF)