The Cooperative Development Authority (CDA), represented by Usec. Joseph B. Encabo and the P.J. Lhuiller Inc., thru its Chief Finance Officer, Mr. Filemon Cecillo A. Cabungcal, met this March 27, 2023 in CDA Head Office, Cubao, Quezon City to forge the Memorandum of Understanding (MOU) in building collaboration between the Parties to form synergy in support of cooperatives throughout the country.
Part of the partnership is the promotion of financial inclusion among cooperatives through P.J. Lhuiller Inc.’s digital solutions such as transfer remittance that will provide the cooperatives an opportunity for business expansion.
During the signing, CDA Chairman Encabo highlighted the importance of reaching out to potential partners in the cooperative movement, adding that “our cooperative today must be infused with the new technologies, and with the new dimensions on how they [referring to cooperatives] can develop their potentials through financial inclusion, protecting the welfare, and develop[ing] the abilities of the cooperative sector especially those that are of micro, small and medium-size cooperatives of our country today.’’
Witnessing the signing is Asec. Myrla B. Paradillo, CDA Acting Administrator and Mr. Victor Burgos, P.J. Lhuiller Inc.’ Consultant. Sealing the commitment, the partnership is expected to increasing access of cooperatives to up-to-date financial technology and innovations.