QUEZON CITY — Knowing the importance of collaboration with the cooperative sector, the Cooperative Development Authority (CDA), through the initiative of the Office of Assistant Secretary Vidal D. Villanueva III, called for the second general assembly meeting of the 23 registered Credit Surety Fund (CSF) Cooperatives on August 26, 2021. Hosted by the Inspection and Examination Division (IED), the event was participated by the chairpersons, treasurers, and other officers of the registered CSF Cooperatives nationwide, together with the CDA regional directors and CSF Section personnel.
FIRST TIME– USec. Encabo poses for the first time with the CSF Cooperative members during their second general assembly photo opportunity last August 26. (Mike Ritual)
In her opening remarks, Atty. Mona Liza Arriba-Juarez, CSF Service Director, emphasized that the virtual general assembly aims to keep the cooperative sector abreast of the latest developments in CSF Cooperatives, especially with the issues and challenges they are currently facing, and for the CDA to hear from the cooperatives’ perspective, the views and concerns in the implementation of the CSF law.
For his part, CDA Board of Directors Member and Head of the Finance Cluster Assistant Secretary Vidal D. Villanueva III said that “(a)s the head of the finance cluster, I take your opinions and suggestions into consideration whenever I introduce and propose policies to the CDA Board. This is because I want that the policy I bring to the board during our meetings is in keeping with what the cooperative sector needs, policies that are realistic, doable, sound, and will serve the cooperative sector. Thus, this general assembly will provide us with an avenue to learn from each other and find out what aspect or area we can improve to help our Credit Surety Fund Cooperatives”.
CDA Chairperson Undersecretary Joseph B. Encabo graced the event, underscoring his encouragement to every cooperative, “Bawat kooperatiba ay mahalaga, walang maiiwan sa bagong CDA.” He also added that “(t)he Cooperative Development Authority cannot do it alone, we need you. No one in the cooperative movement can do it alone as well. We will need all of your help and cooperation to lead a unified and cohesive movement for the cooperative sector. CSF Cooperatives lead the way for greater heights. If we want to lift ourselves, we have to keep lifting everyone around us.”
Topics discussed were updates on the status of the issuance of the certificates of compliance, interest rates imposed by the lending banks, the agreement between the CDA and the Development Bank of the Philippines, remittance of contributions of partner institutions, insufficient number of membership, surety agreement template, and other issues which existed before registration with the CDA. During the open forum, Atty. Juarez actively answered the queries of participants pertaining to the operation of CSF Cooperatives and clarifications on the provisions of the IRR of RA 10744.
La Union CSF Cooperative Chairperson and CSF Cooperatives Representative to Sectoral Apex Organization (SAO), Mr. Emmanuel Juquiana, also delivered a solidarity message highlighting the promotion of unity, positivity, and the cooperative movement.
IED Chief Atty. Joanne N. Limpin wrapped up the event, reiterating that working together for the success and betterment of CSF Cooperatives will attain the objective of providing the MSMEs, cooperatives, and NGOs with more inclusive access to bank credit to enhance their sustainability and growth.
The first CSF Cooperatives’ General Assembly was held on June 25, 2021, for the election of representatives of CSF cooperatives to the SAO.