The Cooperative Development Authority (CDA) and Bangko Sentral ng Pilipinas (BSP) successfully concluded a back-to-back Credit Surety Fund (CSF) Roadshow in Cagayan de Oro and Iligan Cities on August 21-22, 2024. The event aimed to promote the establishment of CSF Cooperatives, which can help micro, small, and medium enterprises (MSMEs) access credit.

The CSF, a credit enhancement scheme developed by the BSP, improves the creditworthiness of MSMEs. CSF Cooperatives, established with LGU support, administer the CSF program. To join, cooperatives must meet specific criteria outlined in RA 10744 (The Credit Surety Fund Act of 2015) and its implementing rules and regulations.

The roadshow highlighted the crucial role of local government units (LGUs) in supporting CSF Cooperatives. Committee Chairs on Cooperatives and Vice Mayors from both cities demonstrated strong support for the CSF program. A total of 15 potential cooperatives in Cagayan de Oro and 16 in Iligan attended the event.

Both Cagayan de Oro and Iligan City enthusiastically pledged their full support for the establishment of CSF Cooperatives. The events ignited significant interest, showcasing the unwavering commitment of local governments and cooperatives to these initiatives. The invaluable contributions of the Cagayan de Oro City’s Community Improvement Division (CID) and Iligan City’s Cooperative Development and Livelihood Office (CDLO) were instrumental in facilitating these successful roadshows.