In a concerted effort to advance financial inclusion and empower cooperatives and micro, small, and medium enterprises (MSMEs), the Cooperative Development Authority (CDA) – Credit Surety Fund Service, in partnership with the CDA – Cordillera Administrative Region Extension Office, the Bangko Sentral ng Pilipinas (BSP), and the Land Bank of the Philippines (LBP), conducted a Credit Surety Fund (CSF) Program Roadshow and Contributors’ Orientation Seminar at the Provincial Capitol Atrium, Bangued, Abra.
The roadshow brought together representatives from the Provincial Local Government Unit (PLGU) of Abra, local cooperatives, and various Government Financial Institutions (GFIs) to explore the opportunities and benefits that the CSF Program can provide in supporting MSMEs’ access to financing.
In his welcome remarks, Hon. Patrocinio Abaya, Jr., Sangguniang Panlalawigan Member and Chairperson of the Committee on Cooperatives, underscored the value of partnership and collaboration in sustaining inclusive economic growth. He emphasized that the cooperative sector and government agencies must work hand in hand to empower entrepreneurs who serve as the lifeblood of the local economy.
Representing Abra Governor Eustaquio P. Bersamin, Provincial Administrator Atty. Brynn Mina delivered a heartfelt message, likening the establishment of a CSF Cooperative in Abra to building a bamboo bridge. He explained that just as a single bamboo stick cannot cross the river on its own, neither can one institution alone achieve economic progress. It takes many bamboo poles – symbolizing cooperatives, government agencies, and financial institutions – tied together by trust and cooperation to create a strong and enduring bridge.
“It’s not enough to simply establish the cooperative – just as it’s not enough to build the bridge. We must care for it, strengthen it, and ensure it remains sturdy over time. Without proper monitoring and teamwork, even the strongest bridge can weaken or break when exposed to challenges,” Atty. Mina said.
“That is why cooperation and good governance are essential. They hold everything together. The Provincial Government of Abra remains steadfast in upholding these principles as we build bridges of trust, opportunity, and progress for our people.”
During the program, Mr. Homer Hipona of the BSP Financial Inclusion Office discussed the salient provisions of Republic Act No. 10744, or the Credit Surety Fund Cooperative Act of 2015, and its Implementing Rules and Regulations, which institutionalize the creation and registration of CSF cooperatives nationwide. He elaborated on the mechanics of forming a CSF cooperative, its governance structure, and the benefits it brings to member cooperatives, MSMEs, and local government units.
This was followed by a presentation of inspiring testimonials from established CSF cooperatives in other regions, delivered by Ms. Jo Ann Gamboa, Chief of the CDA’s Inspection and Examination Division (IED). She shared success stories of how the CSF Program has helped small entrepreneurs secure financing from partner banks and highlighted key national milestones, including the facilitation of nearly ₱8 billion worth of loans through registered CSF cooperatives.
Mr. Recto Transfiguracion, Chief of the Technical Assistance Division (TAD), then gave a comprehensive presentation on the various programs and initiatives under the CSF Service. He discussed capacity-building programs, financial literacy initiatives, and technical assistance designed to help cooperatives and stakeholders establish and sustain their own CSF cooperatives. He also emphasized that the success of these programs depends on continued collaboration among the CDA, LGUs, and financial institutions.
To conclude the session, Ms. Grace Cinco, Supervising Cooperative Development Specialist of the TAD, provided a detailed walkthrough of the registration process and documentary requirements for proposed CSF cooperatives. She guided participants through each step – from orientation and membership validation to the submission of documents and the issuance of a Certificate of Registration. Ms. Cinco also underscored the importance of compliance with governance standards and financial reporting requirements to maintain transparency, accountability, and sustainability.
In a strong show of support, two cooperatives pledged a combined investment of ₱1.1 million to kickstart the establishment of the proposed Abra CSF Cooperative. Their commitment signaled growing confidence in the CSF Program’s potential to expand financial access and stimulate local enterprise development.
As the roadshow concluded, participants expressed optimism that the initiative would open more doors for MSMEs and strengthen the cooperative movement in the province. The event served as both an educational platform and a call to action – uniting government agencies, cooperatives, and financial institutions in building a more inclusive and resilient economy for Abra. – MEEM
