BONTOC, Mountain Province – Recognizing the important role of cooperatives in providing financial services to their members, the Cooperative Development Authority – Cordillera Administrative Region Extension Office (CDA-CAR EO), through its Credit Surety Fund Section, partnered with the Provincial Cooperative Development Office (PCDO) of Mountain Province to conduct a two-day Seminar-Workshop on the Financial Products and Services Consumer Protection Act (FCPA) and related regulatory issuances.
The activity brought together seventy-nine (79) officers, staff, and representatives from cooperatives engaged in financial service operations across Mountain Province. It aimed to enhance their understanding of Republic Act No. 11765, or the Financial Products and Services Consumer Protection Act, its Implementing Rules and Regulations under CDA Memorandum Circular No. 2023-14, and CDA Memorandum Circular No. 2025-08.
As cooperatives continue to expand their financial services, ensuring the protection of members as financial consumers has become increasingly important. During the seminar-workshop, participants gained insights into their responsibilities in promoting transparency, fair treatment, responsible handling of member information, and the establishment of accessible mechanisms for addressing complaints and concerns.
One of the highlights of the activity was the orientation on CDA Memorandum Circular No. 2025-08, which provides for the development and establishment of the Financial Consumer Protection Assistance Management System (FCPAMS). The system aims to help cooperatives effectively receive, process, monitor, and resolve complaints from members and clients availing of financial products and services.
Through the FCPAMS, cooperatives are expected to strengthen their responsiveness to member concerns while fostering greater trust and confidence in the services they provide. Participants were guided through the requirements and practical steps involved in establishing a complaint management system that is both compliant and responsive to the needs of their members.
The workshop sessions encouraged active participation and meaningful exchanges among attendees. Participants assessed their existing consumer protection practices, identified areas for improvement, and discussed strategies for complying with the requirements of the FCPA. The activity also provided an opportunity for cooperative representatives to raise questions, seek clarification on specific provisions of the law, and share their own experiences in handling member concerns and complaints.
More than a compliance-oriented activity, the seminar-workshop served as a reminder of the cooperative sector’s commitment to putting members at the center of its services. By ensuring that members are treated fairly and that their concerns are heard and addressed promptly, cooperatives can continue to build stronger relationships with their communities and reinforce public trust in the cooperative movement.
The initiative reflects the shared commitment of the CDA-CAR Extension Office and the Provincial Cooperative Development Office of Mountain Province to promote responsible financial service delivery and strengthen consumer protection practices among cooperatives. As the cooperative sector continues to play a vital role in advancing financial inclusion and local development, efforts such as this help ensure that growth is accompanied by accountability, transparency, and genuine concern for member welfare. -MEEM
