In a bid to promote Credit Surety Fund (CSF) Cooperatives, their programs, and their services, Senior Cooperative Development Specialist (CDS) Lotes P. Lab-oyan and CDS I Mark Erick E. Menzi of the CDA-Cordillera Administrative Region (CAR) CSF Section, made a radio guesting at DWUB 98.7 Z-Radio FM with a simultaneous Facebook Live coverage for the 12:00 noon to 1:00 pm time slot last February 18, 2024 (Sunday).
Hosted by Mr. Patrick D. Alcedo and with a transmission reach in the Cordillera and some provinces in Cagayan Valley region, the broadcast highlighted significant concepts pertaining to CSF cooperatives which is essential in attracting more members from the cooperative sector as well as establishment of new CSF cooperatives for the benefit of Micro, Small and Medium Enterprises (MSMEs).
The guesting featured a brief background on the Republic Act 10744 and its Implementing Rules and Regulations as well as a thorough discussion on the composition of a CSF cooperative and their respective responsibilities in the operation of these cooperatives. The loan procedure was also discussed including the extent of how much a member can borrow through the CSF cooperative. Also discussed was the involvement of the CDA and Bangko Sental ng Pilipinas in the creation and operation of a CSF cooperative emphasizing the provision of technical assistance and capacity-building by CDA.
In response to a query during the question-and-answer segment as to the amount of contribution needed to become a member cooperative, it was clarified that a minimum amount of contribution of Php. 100,000 is required which will be treated as an investment that can potentially earn interest. Moreover, it was emphasized that the CSF program does not intend to compete with conventional credit facilities but to complement them, providing another option for borrowers who lack collateral as a guarantee for their loans. Other queries that were sufficiently responded to pertain to the different services provided by CDA such as the issuance of Certificate of Compliance (COC), registration, operations, and technical services provided to non-compliant primary cooperatives.
Through this promotional campaign for CSF, CDA-CAR hopes to welcome more partners of CSF for the growth and development of MSMEs in the country. (MEM)
