by SR. CDS Irene Petilla, CDS II Ivy Avestruz, CDS II  Jonel Cerbito

The Cooperative Development Authority (CDA) Region VIII Extension Office, in partnership with the Provincial Government of Northern Samar through the Provincial Cooperative and Community Affairs Office (PCCAO), successfully spearheaded the official inauguration of the Northern Samar Credit Surety Fund Cooperative (NSCSFC) at Sumuroy Hall, Catarman, Northern Samar. A key highlight was the turnover of a Php 3,000,000.00 grant authorized by Northern Samar Sangguniang Panlalawigan Resolution No. 378, Series of 2025. This fund drives the CSF’s mission to provide surety cover through a surety fund instead of hard collateral, enhancing the creditworthiness of micro and small enterprises to increase their access to government financing and strengthen provincial financial inclusion. The event was attended by high-ranking officials, including CDA Undersecretary Alexander B. Raquepo, Deputy Administrator Atty. Elizabeth O. Batonan, and Regional Director Venus M. Jornales. Representing Governor Harris Christopher M. Ongchuan, Board Member Victorio Singzon Jr. and Vice Governor Atty. Clarence E. Dato emphasized the Provincial Government’s unwavering support for the cooperative sector.

Key partner institutions in attendance included the Bangko Sentral ng Pilipinas (BSP), represented by Atty. Charina B. De Vera-Yap, Managing Director of the Financial Inclusion and Consumer Empowerment Sub-Sector, together with Ms. Eleanor Ramos and Mr. Thaddeus Leuterio. The Landbank of the Philippines (LBP) was represented by Ms. Rina Marie Durmiendo and Ms. Aubrey Miranda.The establishment of the NSCSFC was supported by a Php 3,000,000.00 grant from the Provincial Local Government Unit (PLGU). This seed fund was authorized through Sangguniang Panlalawigan Resolution No. 378, Series of 2025. In his message, PCCAO Officer-in-Charge Jessie O. Ymata recognized the groundwork initiated by Congressman Edwin Marino C. Ongchuan and the sustained support of Governor Harris Christopher M. Ongchuan. The Governor noted that the program is a central component of his HCO Agenda, focusing on Health, Capability building, and climate resilience Opportunities for the Nortehanon. Vice Governor Dato reaffirmed the legislative body’s 100 percent commitment to the sector, stating that these efforts are aimed at a “marig-on, mainuswagon, ngan malipayon nga nortehanon” (strong, progressive, and happy” Northern Samar).

CDA Regional Director Venus M. Jornales underscored the importance of sustaining institutional support to the Provincial Cooperative Development Office (PCDO) to ensure effective implementation and long-term sustainability of cooperative development initiatives in Northern Samar.

Serving as Guest Speaker, Undersecretary Alexander B. Raquepo highlighted the strategic role of cooperatives in national development, emphasizing that cooperatives constitute one of the three pillars of development alongside government and the private sector. He stressed that the CSF Program serves as an enabling mechanism to make underserved sectors bankable and financially empowered. He further commended the leadership of Northern Samar, stating, “I think in all provinces, cities, and municipalities I have been; Northern Samar is a place where most of your leaders are members and believers of the cooperative.” He likewise recognized the strong collaboration between local and national stakeholders in establishing the NSCSFC and reaffirmed national government support, stating, “Under my watch patuloy po ang aming suporta at pakikiugnayan sa inyo para sa isang mas matatag, mas pinagkakatiwalaan at isang sustainable na Northern Samar Credit Surety Fund Cooperative.”

Atty. Batonan expressed gratitude to the Sangguniang Panlalawigan of Northern Samar for its support in the establishment of the NSCSFC and recognized the Landbank of the Philippines for its sustained partnership and its new lending program for CSF featuring streamlined requirements and a one percent interest rate reduction. Representing the Bangko Sentral ng Pilipinas, Atty. Charina B. De Vera-Yap highlighted the significance of the CSF Program as a collaborative financial inclusion initiative, stating, “The CSF is more than a financial mechanism, it’s a reminder of what we can do when we work together. It is built on trust, solidarity, and shared responsibility. It carries a simple message — ‘magkaupod kita, mag-uswag kita.’” She further emphasized inclusive finance, adding, “For so long, many of our farmers, fisherfolk, and small entrepreneurs have had great ideas but limited access to credit, not because they lack discipline and determination, but because the system wasn’t built with them in mind.

The CSF changes that. It tells our MSMEs, “an imo damgo importante, an imo paningkamot importante, an imo gusto makab-ot angay suportahan.” She also highlighted the importance of multi-sectoral collaboration, stating, “This launch also teaches us something important – real progress doesn’t come from just one institution. It happens when the government, cooperatives, and the private sector choose to trust one another and work together. The CSF shows how collaboration can turn challenges into opportunities.”

Mr. Ricardo P. Palacio III, Head of the Land Bank of the Philippines Samar Lending Center, represented by Ms. Rina Marie Deuderio, emphasized that the establishment of the NSCSFC demonstrates good governance and commitment to inclusive economic growth, enabling employment generation and community development. The activity also featured the formal launching of the NSCSFC, recognition and awarding of partner stakeholders, and the ceremonial turnover of the Php.3,000,000.00 PLGU grant. In her Words of Acceptance and Commitment, NSCSFC Chairperson Ms. Rema A. Chan described the event as a historic milestone and expressed gratitude to the Cooperative Development Authority and the Provincial Government of Northern Samar for their unwavering support. She assured stakeholders of the responsible management of the cooperative’s resources anchored on cooperative principles for the benefit of its members. To strengthen the operational readiness of the cooperative, a Start-Up Course was conducted in the afternoon to equip cooperative officers and members with essential knowledge on governance, sustainability, and operational management. The session was facilitated by Mr. Recto Transfiguracion, Chief Cooperative Development Specialist of the CDA Technical Assistance Division.

The learning sessions continued on February 12, 2026 through a Strategic Planning Workshop facilitated by BSP Financial Inclusion Office Manager Ms. Eleanor Ramos. The workshop highlighted the importance of strategic planning to ensure the cooperative’s growth and sustainability in fulfilling its mission of empowering members and communities. During the workshop, Ms. Ramos guided NSCSF members in crafting their organizations’ Vision, Mission, Goals and Objectives. Additionally, through the use of SWOT Analysis, the cooperative productively came up with an initial strategic plan to serve as a jumpstart for its operation.

The successful inauguration of the Northern Samar Credit Surety Fund Cooperative reinforces the Province of Northern Samar’s strong commitment to cooperative development, financial inclusion, and sustainable economic growth. The activity further underscored that the success of the Credit Surety Fund Program is anchored on trust, collaboration, and shared responsibility in ensuring that financial services reach marginalized and underserved sectors.