By CDA Region VIII – Credit Surety Fund (CSF) Team
The Cooperative Development Authority (CDA) Region VIII successfully conducted a virtual meeting to follow up on updates and discuss key developments relative to the proposed creation of the Southern Leyte Credit Surety Fund Cooperative (SLCSFC). The meeting was graced by no less than the Regional Director, Director Venus M. Jornales, who delivered an inspirational message encouraging cooperatives to actively participate in the Credit Surety Fund (CSF) Cooperative as an effective mechanism that significantly helps strengthen cooperatives and uplift their respective communities. The activity was facilitated by the CDA Region VIII CSF Team, headed by Ms. Irene R. Petilla, Senior Cooperative Development Specialist, with the support of Ms. Ivy C. Avestruz, Cooperative Development Specialist II, and Mr. Jonel B. Cerbito, Cooperative Development Specialist I.
The virtual meeting was attended by representatives from Federation of Omega Beneficiaries Multi-purpose Cooperative (FOBI-MPC), Silago Multipurpose Cooperative (SICOCU), Libagon Area Multipurpose Cooperative (LAMP Coop), Bontoc Multipurpose Cooperative (BCCI), Pinoy Multipurpose Cooperative, andSouthern Leyte Employees Multipurpose Cooperative (SLEMCOOP). The activity served as a venue to assess the current status of commitments and to reiterate the importance of collective action in establishing the Southern Leyte CSF Cooperative. During the meeting, it was reported that three (3) cooperatives—Federation of Omega Beneficiaries Multi-purpose Cooperative (FOBI-MPC), Pinoy Multipurpose Cooperative, and Libagon Area Multipurpose Cooperative (LAMP Coop)—have officially confirmed their capital contributions, with a total pledged amount of Php 500,000.00 for the CSF Cooperative. These confirmed commitments signify a positive development toward the formal organization of the proposed cooperative.
CDA encouraged the other participating cooperatives to coordinate with their respective Boards of Directors (BOD) or General Assemblies (GA) for the confirmation of their initial pledges made during the previous meeting held on November 28, 2025, as these confirmations are necessary to move forward with the succeeding steps of organization and registration. Moreover, CDA announced that a physical meeting will be scheduled to discuss other matters relevant to the creation of the Southern Leyte Credit Surety Fund Cooperative. Concerned cooperatives will be informed once the final schedule and venue have been determined.
The CDA Region VIII remains committed to providing technical assistance and policy guidance to ensure the successful establishment of Credit Surety Fund Cooperatives as a strategic tool to expand access to credit, strengthen cooperative enterprises, and promote inclusive and sustainable community development.
