The Credit Surety Fund Service conducted its Start-up Course Orientation on newly registered Olongapo City Credit Surety Fund (CSF) Cooperative last March 11, 2026 at SMX Olongapo City Convention Center, marking a significant milestone in strengthening access to finance for cooperatives and micro, small, and medium enterprises (MSMEs) in the city. The activity was made possible with the assistance and coordination of CDA CSF Service under the leadership of Deputy Administrator Atty. Elizabeth O Batonan, as well as the CDA Region III CSF Section Head Ms. Jeline Reyes with Regional Director Marieta P. Hwang, who spearheaded the activity.
The activity gathered key officials from national government agencies, financial institutions, and the local government, along with representatives from six (6) founding member cooperatives of the Olongapo City CSF Cooperative. The member-primary cooperatives of the Olongapo City CSF Cooperative were also present, namely: Zambales Medical Mission Group Hospital and Health Service Cooperative, Olongapo Tipo Transport Cooperative, Olongapo City Government Employees Multi-Purpose Cooperative, Olongapo Subic Castillejos San Marcelino Transport Service Multi-Purpose Cooperative, The Professional Group Multi-Purpose Cooperative, and Columbia Credit Cooperative.
In her message, Regional Director Hwang emphasized the strong support of the local government for the cooperative sector. “Buong-buo ang suporta ng local government unit sa kooperatiba,” she noted.
Deputy Administrator Batonan, likewise, highlighted the significance of the newly registered CSF cooperatives. She stated that 2026 marks a promising beginning for the CSF Program, with the registration of three new CSF cooperatives, including the Olongapo CSF Cooperative. She commended the efforts of CDA Region III and the Olongapo City Local Government Unit in facilitating its registration. She further stressed the vital role of the CSF Cooperative in the program, saying, “Kayong CSF cooperative ang puso ng programang ito. Hindi lamang ito isang investment; ito ay isang mekanismo upang mapalawak ang access sa financing. Kung kayo ay nasa larangan ng finance, isama ninyo ang CSF program bilang isang alternatibong produkto.”
Messages of support were also delivered by representatives from the Land Bank of the Philippines and the Bangko Sentral ng Pilipinas, reaffirming their commitment to strengthening financial access through the CSF Program.
City Councilor Hon. Ermelando Anonat expressed gratitude to the partner institutions for their support in the establishment of the Olongapo City CSF Cooperative, encouraging stakeholders to work together in sustaining the initiative.
Assistant Secretary Luz H. Yringco congratulated the hardworking officials of Olongapo and expressed optimism that the CSF initiative would further strengthen cooperative development and financial inclusion in the city.
Further, Chairman USec. Alexander B. Raquepo emphasized in his message a statement that strongly resonated with the participating cooperatives. Quoting the cooperative pledge, he said, “Alone I am weak but with others I am strong”, I think this is the very essence of why the Olongapo City Credit Surety Fund was organized, established and was supported by various agencies, LGU in particular, the BSP, Landbank of the Philippines and Cooperative Development Authority. But the most important actors and actresses ay kayo po sa cooperative sector”.
The highlight of the activity was the handover of the Local Government Unit’s contribution amounting to ₱2 million to the Olongapo City CSF Cooperative, symbolizing the city’s full support for the organization and operation of the cooperative. The contribution was formally awarded during the ceremony led by Olongapo City Mayor Hon. Rolen C. Paulino, Jr., followed by the words of acceptance from the Chairperson of the Olongapo CSF Cooperative Emilia Sanchez, together with its member cooperatives.
The Startup Course Orientation was facilitated by Recto Transfiguracion, Chief of the Technical Assistance Division of CDA, who discussed the fundamentals, operations, and responsibilities involved in managing a CSF cooperative. The session was followed by an open forum, allowing participants to raise questions and clarify important matters related to the CSF program.
The activity concluded with renewed commitment among stakeholders to strengthen the Olongapo CSF Cooperative as a mechanism for expanding access to credit and supporting the growth of cooperatives and MSMEs in the city.
