Credit Surety Fund on the Go:The Valenzuela City Stop

The CSF Service  continues to rise  to the challenge of bringing the CSF Program to the provinces and major cities in the Philippines. One of their recent engagements was  during the 26th ValKoop Congress and 25th Dangal ng Valenzuela held on October 28, 2022 at the  2nd Floor ALERT Multi-Purpose Hall, Malinta, Valenzuela City.  The activity was one of the highlights of the city’s Cooperative Month celebration.

Deputy Administrator Atty. Ma. Lourdes P. Pacao of the CDA Credit Surety Fund Service  presented to the 173 participants coming from 32 primary cooperatives  the CSF program and related information which focused on the following:

  • The concept, background and rationale of the Credit Surety Fund program;
  • Key provisions of RA 10744 and its IRR;
  • The roles of BSP and CDA in the implementation of CSF Program and RA 10744;
  • Benefits of Cooperatives, NGOs, LGUs, GFIs and other GAs joining the CSF Cooperative; and
  • Selected statistics on registered CSF Cooperatives

Other CSFS personnel present during the activity were  Mr. Sergio Herrero, Jr., Senior CDS, CDA-NCR and Ms. Mary Grace Cinco, Supervising CDS, Technical Assistance Division.

It is noteworthy that the large cooperatives in the city, while admitting that they  may not be directly benefitting from the services of a CSF Cooperative, expressed full support and committed to spearhead the organization of CSF Cooperative in the city.

All told, the orientation ended on a positive note.  The representatives of various cooperatives, the Valenzuela CDC Officers, and the Valenzuela City Cooperative Development Office, through Dr. Josephine Osea expressed enthusiasm and commitment to  support  the organization of a CSF Cooperative which will help the cooperatives and MSMEs and be one of the dynamic economy drivers in Valenzuela City.

The next challenge was to seek the firm commitment of the LGU, through a resolution  of the Sangguniang Panlungsod manifesting its intention to join and support the organization of a CSF Cooperative and appropriating funds therefor.  The assistance of  Councilor Chiqui Carreon, Coun. Nina Lopez and Coun. Mickey Pineda, who were also present during the activity and expressed support to the program, would be a great advantage.

CDS II Marilou M. Valencia, who had been very  supportive of the program promised  to follow-up subsequent intiatives leading to the organization of the proposed CSF Cooperative  in Valenzuela City.

Marilou M. Valencia
CDS II – Valenzuela City