In partnership with the Ifugao Federation of Development Cooperatives (IFEDECO), the Cooperative Development Authority – Cordillera Administrative Region Extension Office (CDA-CAR EO), through its Credit Surety Fund Section (CSFS), successfully conducted a one-day orientation-workshop on Republic Act No. 11765, also known as the Financial Products and Services Consumer Protection Act, on June 24, 2025, in Lamut, Ifugao. The event drew the participation of 89 officers and staff from 28 cooperatives across the province.
The orientation sought to strengthen participants’ understanding of the core provisions of Republic Act No. 11765, which institutionalizes consumer rights and mandates ethical, transparent practices within the financial services sector. It aimed to equip cooperatives with the knowledge and tools needed to adopt policies and internal mechanisms that promote fair market conduct, transparency, and the efficient resolution of consumer complaints. This initiative is part of the CDA’s broader commitment to building the capacity of cooperatives to navigate an increasingly complex regulatory environment—particularly in areas concerning member protection, responsible financial service delivery, and good governance.
Participants were also briefed on the key provisions of CDA Memorandum Circular No. 2023-14, which serves as the Implementing Rules and Regulations (IRR) of RA 11765 for CDA Regulated Entities (CDAREs), or cooperatives particularly those offering financial products and services. The session provided clarity on the legal obligations of cooperatives under the new regulatory framework and highlighted the importance of compliance in protecting both members and institutional integrity.
In addition, the workshop provided an opportunity for cooperatives to revisit and evaluate their existing credit policies to ensure alignment with CDA Memorandum Circular No. 2024-07 (Guidelines Governing the Operations of Cooperatives Engaged in Credit Services). Key provisions emphasized during the session included the mandatory 30-day grace period for delinquent accounts, the requirement to provide a “cooling-off” period for borrowers, and a review of interest rate policies to ensure fairness and regulatory compliance.
Another critical component of the orientation-workshop was the introduction of the Financial Consumer Protection Assistance Management System (FCPAMS). This system is envisioned as a core mechanism to help cooperatives establish structured, responsive, and timely approaches to managing consumer grievances and financial service complaints. Cooperatives were encouraged to begin drafting and developing their respective FCPAMS to reinforce accountability and build consumer trust.
Through this initiative, CDA-CAR EO and IFEDECO aim to empower cooperatives not only to comply with regulatory standards but also to embrace financial responsibility and consumer protection as foundational elements of cooperative governance. The CDA-CAR EO also recognized IFEDECO’s valuable support and steadfast leadership in mobilizing cooperatives for this meaningful capacity-building effort.
By organizing this orientation-workshop, both institutions reaffirm their shared commitment to promoting a more consumer-focused approach to financial service delivery—one that places member welfare, accountability, and transparency at its core. Ultimately, the initiative seeks to cultivate a cooperative sector that is not only aligned with regulations but also deeply committed to safeguarding the financial well-being and rights of its members. – MEEM
