The Credit Surety Fund (CSF) Roadshow, sponsored by the local government of Olongapo City, was successfully held on November 14, 2024, at the SMX Convention Center, SM City Olongapo Central, Rizal Avenue, Barangay East Tapinac, Olongapo City. This significant event highlighted the city’s dedication to fostering cooperative growth and promoting financial inclusion. It drew 39 participants representing 14 cooperatives from the city, demonstrating a strong collective interest in advancing the cooperative movement.
The roadshow was graced by prominent officials, including Hon. Atty. Rolen C. Paulino Jr., City Mayor, Hon. Rodel S. Cerezo, City Councilor and Chairperson of the Committee on Cooperatives, and Hon. Dra. Sarah Lugerna “Lugie” Lipumano-Garcia, City Councilor Chairperson of the Committee on Business. The event’s success was also largely attributed to the efforts of Ms. Joy F. Cahilig, City Budget Officer and Chairperson of the Olongapo City Cooperative Development Council (OCCDC), who played an instrumental role in its organization.
In her opening remarks, Ms. Cahilig warmly welcomed attendees and highlighted the unwavering support of the LGU, including a Php 2 million pledge toward the proposed CSF cooperative. This commitment was further reaffirmed by the presence and backing of City Mayor, Atty. Paulino, Jr., and councilors Cerezo and Garcia, who expressed their full support for the initiative.
The program featured a series of informative presentations by distinguished speakers. Ms. Jeline D. Reyes, Senior CDS, and Chief, CSF Section, provided an overview of Region III’s Cooperative Profile and Statistics. Mr. Homer A. Hipona, Bank Officer IV of the Financial Inclusion Office of Bangko Sentral ng Pilipinas, gave an in-depth discussion on RA 10744 and the Contributors’ Orientation Seminar (COS).
Additionally, three experts from the CDA Head Office contributed valuable insights on key topics. Ms. Jo Ann C. Gamboa, Chief of the IED-CSF Service, delivered a presentation on “CSF: An Alternative Credit Enhancement for Cooperatives.” Ms. Mary Grace I. Cinco, Supervising CDS-TAD-CSF Service, explained the CSF registration process in detail. Lastly, Mr. Recto E. Transfiguracion, Chief of the TAD-CSF Service, shared updates on various initiatives from the CDA, completing the event’s informative sessions.
The roadshow gathered active participation from 14 cooperatives, including prominent groups such as the Olongapo City Government Employees Multipurpose Cooperative (OCGEMPC), Regional Science High School-III Teacher’s Service Cooperative, Olongapo Subic Castillejos San Marcelino Transport Service and Multipurpose Cooperative (OSCSMTSMPC), ZAMODCA Transport Service Multipurpose Cooperative, and Zambales Medical Mission Group Hospitals and Health Services Cooperative (ZMMGHHSC), among others. These cooperatives expressed strong support for the proposed CSF initiative, highlighting the city’s significant potential for cooperative development.
The event concluded with heartfelt closing remarks from Ms. Carolina M. Miguel, Assistant Regional Director who emphasized the importance of collaboration and ongoing learning in driving cooperative initiatives forward.
The CSF Roadshow not only increased awareness and fostered stronger collaboration among cooperatives but also reinforced Olongapo City’s proactive role in enhancing financial accessibility and ensuring the sustainability of its cooperative sector.
