The Credit Surety Fund Section – Region VIII successfully organized a webinar on the Orientation of RA 10744, the “Credit Surety Act of 2015,” conducted on January 24, 2024, via Zoom Platform. The event garnered participation from the board of directors, officers, and management staff of eight robustly capitalized and efficiently managed cooperatives in Northern Samar, featuring a total of twenty-eight attendees. Additionally, Mr. Joey Miranda, representing the Provincial Cooperative and Community Affairs Office, was a valuable participant.
The cooperatives in attendance included:
1. SUMOROY TEACHERS, EMPLOYEES AND COMMUNITY MULTIPURPOSE COOPERATIVE (SUMTEC)
2. PALAPAG TEACHERS, EMPLOYEES AND COMMUNITY MULTIPURPOSE COOPERATIVE (PATECI)
3. CATUBIG MULTI-PURPOSE COOPERATIVE
4. NORTHERN SAMAR MULTIPURPOSE COOPERATIVE (NSDWCC)
5. AGRICULTURAL DEVELOPMENT WORKERS AND EMPLOYEES MULTIPURPOSE COOPERATIVE (AWEMPC)
6. PACIFIC MULTI-PURPOSE COOPERATIVE
7. NORTHERN SAMAR CAPITOL EMPLOYEES MULTIPURPOSE COOPERATIVE (NSCEMCO)
8. NORTHERN SAMAR CAPITOL EMPLOYEES MULTIPURPOSE COOPERATIVE (NSCEMCO)
The central focus of the webinar was to advocate for the establishment of the Provincial Credit Surety Fund Cooperative in Northern Samar. The program emphasizes the provision of collateral-free loans to Micro, Small, and Medium Enterprises (MSMEs), encompassing cooperatives and memberentrepreneurs, many of whom face challenges in accessing traditional financing due to a lack of credit history.
RD Venus M. Jornales was also on board the whole webinar and, who inspired and enlightened attendees, urging them to express their interest in supporting government initiatives for poverty alleviation and financial inclusion. Mr. Elhu A. Remigio, the agency’s partner in Northern Samar, played a pivotal role in mobilizing the cooperatives’ attendance. Similarly, Mr. Jacinto Tilbe from NSDWCC encouraged cooperative officers in attendance at the meeting to endorse the CSF Program as a governmental tool aimed at uplifting the lives of MSMEs. This program serves as a means for poverty alleviation through cooperative efforts, enhancing economic conditions by fostering entrepreneurship among members. The CSF Program provides an alternative avenue for accessing funds.
During the webinar, four cooperatives expressed their commitment to the CSF program by signaling their interest in supporting the initiative. This marked the initial meeting with the cooperatives, signaling a positive beginning for a dynamic and collaborative partnership with the leading cooperatives of Northern Samar. In light of this development, a follow-up meeting is scheduled for February 6, 2024, via Zoom, focusing on the pledging session. The primary goal is to present the cause to the office of the Provincial Governor of Northern Samar, seeking financial support for the creation and organization of the CSF cooperative.
