The Credit Surety Fund Cooperative is a special type of cooperative created under Republic Act 10744 also known as the Credit Surety Fund Act of 2015. It is established for the primary and exclusive purpose of administering the CSF, which is used to provide credit enhancement support by way of issuing surety cover to secure loans of qualified MSMEs and cooperative/NGO borrowers in lieu of hard collaterals. A cooperative can benefit greatly from becoming a member of the CSF Cooperative as membership provides good-standing access to bank credit, increases net worth, increases income, and improves the coop’s credit management and marketing skills.
For the first quarter of 2023, a total of 381 cooperatives from Cagayan de Oro City and the provinces of Misamis Oriental and Bukidnon have been oriented about the importance, benefits, and requirements of forming a Credit Surety Fund Cooperative during the series of Information Caravan conducted by the Cooperative Development Authority – Region 10. With the intention to fully inform as well as guide those planning to create CSF Cooperatives in the region, Maryann D. Gabutan, Officer in Charge of the CSF Section of CDA-10 has presented everything there is to know about Credit Surety Fund during the said activities. The orientation and information dissemination for the other provinces will continue throughout the year. This is to encourage more cooperatives, LGUs, GFIs, NGOs, and GAs all over the region to join and organize this type of special cooperative.