DAVAO CITY – On 18 January 2024, the Cooperative Development Authority (CDA) Undersecretary and Chairman Joseph B. Encabo, assisted by Deputy Administrator Atty. Ma. Lourdes Pacao, and Regional Director Glenn S. Garcia led the Ceremonial Turnover of the Credit Surety Fund (CSF) Certificate of Registration to the Davao Oriental Province CSF Cooperative (DOPCSFC). The ceremony took place at Adeliena Hotel, Mati City, Davao Oriental.

The ceremony was a monumental event for the newly registered CSF Cooperative, signaling its official transition as a BSP-organized Credit Surety Fund in to a CSF Cooperative under Republic Act (RA) 10744 or the CSF Act of 2016.

The DOPCSFC is the fifth CSF cooperative in the Davao Region, paving the way for more opportunities for member-cooperatives and individual entrepreneurs in the province who are members of any primary cooperative to avail loans without hard collaterals.

Usec. Encabo commends the cooperatives commitment to constantly promote the principles of cooperation in the province. Also, he expressed gratitude towards Davao Oriental Governor Niño Sotero L. Uy, Jr. for his unwavering support to the cooperative movement in his province.

Also present during the ceremony were local government officials of Davao Oriental, representatives from the Landbank of the Philippines, Development Bank of the Philippines, and the rest of the members of DOPCSFC.

Vice Chairman Vivencio Mahinay of DOPCSFC expressed gratitude to CDA for its support and guidance throughout the registration process.

As the DOPCSF embarks on a new journey ahead as a fully-registered entity – who is expected to undertake a vital role in the province’s economic and social landscape.

The cooperative’s success shall not only be measured by its financial achievements, but also with its positive impact to the lives of its members and the community it serves.