The Credit Surety Fund Service, CDA Region VIII and the Bangko Sentral ng Pilipinas (BSP) recently held the official launching of the 51st registered credit surety fund cooperative (CSFC) in the country – the Northern Samar CSFC (NSCSFC).
The second CSF Cooperative in the region – the first being the Tacloban City CSFC -, NSCSFC’s registration is a story of steadfast and strong partnership of the cooperative sector and the local government unit (LGU) working together to empower the micro, small and medium entrepreneurs (MSMEs) in the locality. The event was graced by notable personalities from the local government unit of Northern Samar, the CDA, the Bangko Sentral ng Pilipinas (BSP), Land Bank of the Philippines (LBP) and the officers of the member-primaries of NSCSFC.
In a statement read by Sangguniang Panlalawigan Board Member Victorio Singson Jr. for and in behalf of Governor Harris Christopher M. Ongchuan, the Chief Executive expressed his full support to the initiative, saying that the NSCSFC is a solid partner of the LGU’s service agenda – HCCO or Health, Capacity Building and Climate Resilience and Opportunities – as he believes that true and lasting development starts with strengthening the capacities of the community who will provide opportunities and ultimately become the LGU’s partner in economic growth and development.
Held on February 11, 2026 at the Sumuroy Hall, Provincial Building, Catarman, Northern Samar, the event was highlighted by the turnover of Php 3,000,000.00 grant authorized by the Northern Samar Sangguniang Panlalawigan Resolution No. 378, Series of 2025, which was earmarked from the province’s budget as investment fund for the financial inclusion of MSMEs in the province. The ceremony was witnessed by representatives of the CSF program’s key stakeholders namely CDA officials Chairman Undersecretary Alexander B. Raquepo, CSF Service Deputy Administrator Atty. Elizabeth O. Batonan, CDA Region VIII Director Venus M. Jornales, BSP’s Managing Director Atty. Charina B. De Vera-Yap, with Ms. Eleanor Ramos and Mr. Thadeus Leuterio, Northern Samar LGU officials Vice Governor Atty. Clarence E. Dato, Board Member Singzon, Jr. , OIC Department Head of Provincial Cooperatives and Community Affairs Office Jessie O. Ymata, and LBP representative Ms. Rina Marie Durmiendo.
In receiving the check as LGU’s counterpart fund contribution, NSCSFC Chairperson Rema A. Chan expressed her gratitude to the LGU of Northern Samar and CDA Region VIII for their full support, patience and guidance all throughout the process of registration of the cooperative, and assured the NSCSFC’s commitment and diligent management of the fund invested in support of the MSMEs.
The event was capped by a Start Up Course facilitated by Mr. Recto E. Transfiguracion, Chief Cooperative Development Specialist of the Technical Assistance Division of the CSF Service, which is a comprehensive guide for NSCSFC officers in the initial operation of the cooperative.
