On July 23, 2024, the Cooperative Development Authority (CDA) and the Bangko Sentral ng Pilipinas (BSP) jointly organized the Credit Surety Fund (CSF) Roadshow at the SP Plenary Hall, Zamboanga Sibugay Capitol, Ipil Heights, Ipil, Zamboanga Sibugay. This significant event aimed to promote the creation and organization of CSF cooperatives, highlighting their crucial role in managing and administering credit surety funds to support micro, small, and medium enterprises (MSMEs), cooperatives, and non-government organizations.
The CSF is a vital financial mechanism designed to support MSMEs, cooperatives, and non-government organizations. By establishing CSF cooperatives, we can enhance the accessibility of these entities to credit facilities provided by banks. This not only fosters economic growth but also empowers our cooperative movement by providing them with the necessary financial backing to thrive and expand.
The roadshow kicked off with the preliminaries, including an invocation and the singing of the national anthem, setting a solemn and respectful tone for the day’s activities. This was followed by the recitation of the Cooperative Pledge, reminding everyone of the shared commitment to cooperative values and principles.
Acknowledgment of Guests and Participants
The event brought together a distinguished panel of guests and participants. Mr. Alvazer B. Duran, Sr. Cooperative Development Specialist (CDS) for CSF, led the introduction of notable attendees, including Hon. Richard Dy Olegario, Board Member and Chairperson of the Committee on Cooperatives, Province of Zamboanga Sibugay, and Hon. Dr. Dulce Ann K. Hofer, Provincial Governor of Zamboanga Sibugay. The presence of Atty. Socrates Villota, Provincial Cooperative Development Officer and Chairperson of the Regional Cooperative Development Council (RCDC) IX, underscored the significance of this initiative.
Opening Message
Atty. Socrates Villota, Provincial Cooperative Development Officer and Chairperson of the RCDC IX, opened the event with an insightful message. He emphasized the critical role of the CSF in empowering cooperatives and enhancing financial accessibility for MSMEs. His message set the tone for the day’s discussions and highlighted the importance of collaboration between various stakeholders.
Contributors Orientation Seminar
The highlight of the event was the Contributors Orientation Seminar, conducted by Ms. Eleanor D. Ramos, Manager of the Financial Inclusion Office at the Bangko Sentral ng Pilipinas (BSP). Her expertise and in-depth knowledge of the CSF were evident as she discussed the roles and responsibilities of contributors, the benefits of participating in the CSF, and the mechanisms in place to ensure transparency and accountability.
Significant Milestones of the CSF Program Nationwide
Chief CDS Jo Ann C. Gamboa from the Inspection and Examination Division presented the significant milestones of the CSF program nationwide. Her presentation showcased the successes and growth of the CSF, providing a comprehensive overview of its impact and achievements across the country.
Presentation of Requirements for CSF Cooperative Registration
Chief CDS Recto E. Transfiguracion from the Technical Assistance Division followed with a presentation on the requirements for CSF cooperative registration. He highlighted the necessary steps and documentation needed to establish a CSF cooperative, emphasizing the importance of compliance and proper governance.
Message from Hon. Richard Dy Olegario
Hon. Richard Dy Olegario, Board Member of the Province of Zamboanga Sibugay and Chairperson of the Committee on Cooperatives, delivered a compelling message. He expressed his enthusiasm for the roadshow, emphasizing its potential to transform the financial landscape for cooperatives and MSMEs in the region. His message reinforced the commitment of local cooperatives to join and support the CSF initiative.
Closing Remarks
To conclude the program, Ruben L. Cunanan, JD, CDA IX Regional Director, delivered the closing remarks. He reiterated the significance of the CSF in empowering cooperatives and enhancing financial accessibility for MSMEs. He also expressed gratitude to the BSP representatives for sharing their expertise and to all attendees for their active participation.
A Bright Future for Cooperatives
The Credit Surety Fund Roadshow was a resounding success, bringing together key stakeholders and providing them with the knowledge and tools needed to harness the benefits of the CSF. By fostering collaboration between the CDA, BSP, and local cooperatives, the roadshow paved the way for a brighter future where financial inclusivity and cooperative growth go hand in hand. The event underscored the collective commitment to building a resilient and empowered cooperative sector, capable of driving sustainable development and economic progress in Zamboanga Sibugay and beyond.
by NURSALIM L. SIMPAL, CDS II
