by CSF Unit

The long wait is over. On April 15, 2026, following sustained coordination with the City Cooperative Development Office, the long-anticipated meeting among the Cooperative Development Authority (CDA), cooperatives, and local government representatives was successfully conducted in Ormoc City. This milestone activity marked a significant step toward the establishment of a Credit Surety Fund (CSF) Cooperative in the city. As part of the initiative, an orientation on Republic Act No. 10744, also known as the Credit Surety Fund Cooperative Act of 2015, was conducted. The activity aimed to raise awareness and encourage the active participation of cooperatives in the organization and eventual membership in the proposed CSF Cooperative in Ormoc City. The event was attended by key officials from the Cooperative Development Authority (CDA), led by Regional Director Venus M. Jornales. She was joined by Ms. Irene R. Petilla, Senior Cooperative Development Specialist and Head of the CSF Section; Ms. Ivy C. Avestruz, Cooperative Development Specialist II; Ms. Gerlen L. Lagrosa, Cooperative Development Specialist II; and Mr. Jonel B. Cerbito, Cooperative Development Specialist I.

Also present was Mr. Romeo Dela Cruz, Head of the City Cooperative Development Office of Ormoc, together with his staff, showing the strong support of the local government unit (LGU) for the cooperative movement and the CSF initiative. A total of sixteen (16) cooperatives participated in the orientation. These cooperatives were identified as potential primary participants that may qualify to join the CSF Cooperative, subject to meeting the necessary requirements. Their presence reflects a growing interest and readiness among local cooperatives to take part in programs that improve access to credit and strengthen financial capacity. The activity was graced by Hon. Thomas Serafica, Chairman of the Committee on Cooperatives, who delivered the welcome message. In his remarks, he expressed his full support for the program and assured the Cooperative Development Authority (CDA) and the participating cooperatives of the local government’s commitment to help establish the CSF Cooperative in the city. He further emphasized that this initiative is strongly backed by the Local Chief Executive, Hon. Lucy Torres-Gomez, whose active support and commitment to cooperative development continue to drive the realization of the CSF Cooperative in Ormoc City.

In her inspiring message, Regional Director Jornales emphasized the importance of strong collaboration among the LGU, CDA, and the cooperative sector in making the CSF Cooperative a reality. She highlighted that active support from the local government is essential in organizing and sustaining the CSF Cooperative. The technical presentations were led by Ms. Petilla and Ms. Avestruz, who discussed the key provisions of Republic Act No. 10744. They explained the purpose of the law, its benefits to cooperatives, and the process of organizing a CSF Cooperative. The discussion provided participants with a clear understanding of how the program can help improve access to credit, especially for micro, small, and medium enterprises through cooperative support. Mr. Cerbito also presented relevant policy issuances, including the Regional Development Council (RDC) Resolution and the Department of the Interior and Local Government (DILG) Memorandum, both of which call on local government units to actively support the establishment of Credit Surety Fund Cooperatives in Eastern Visayas. He further presented a list of cooperatives identified as well-managed and well-capitalized, emphasizing that these are important qualifications for participation in the CSF Cooperative.

The orientation concluded with positive feedback from the participants, with most of the cooperatives expressing their interest in joining the CSF Cooperative in Ormoc City. The activity marks an important step toward strengthening cooperation among stakeholders and advancing financial inclusion through the CSF program in the region.