The Cooperative Development Authority (CDA), through its Credit Surety Fund Service (CSFS), has officially launched the program, “Empowering Micro and Small Cooperatives (MSCs) Through Strategic Partnership with Medium and Large Cooperatives (MLCs) and Cooperative Banks (CBs) for Increased Participation in the Credit Surety Fund (CSF) Program.” The event, held via Zoom, gathered more than 350 micro, small, medium and large cooperatives nationwide, including Credit Surety Fund (CSF) Cooperatives and Cooperative Banks.
The initiative seeks to strengthen the capacity of micro and small cooperatives (MSCs) through the financial support by medium and large cooperatives (MLCs) from their Community Development Fund, Optional Fund, or Social and Community Service allocations. These contributions, managed by cooperative banks, are provided as interest-free loans to MSCs to help cover their initial capital in CSF Cooperatives which allow them to access bigger opportunities and become active players in the program.
Assistant Secretary Luz H. Yringco, who inspired the initiative, emphasized the power of cooperation when the movement works as one. Dir. Joselito O. Hallazgo presented the program overview, underscoring the urgent need to bridge financial gaps and strengthen solidarity among cooperatives. By 2030, the CDA envisions that the current 17,000 struggling MSCs, 83.2% of all registered cooperatives, will be transformed into thriving and sustainable organizations.
The launch also showcased successful regional roll-outs in Benguet, La Union, Tacloban City, and Davao City, where MLCs symbolically turned over their contributions and pledged continued support. In recognition of their generosity, the initial twelve (12) MLC contributors received Certificates of Appreciation for sharing their resources and helping MSCs gain access to the CSF Program. These cooperatives are: 1) Elyu Farmers Multipurpose Cooperative, 2) Saytan Savings and Credit Cooperative, 3) Abuyog St. Bernard Xavier Credit Cooperative (AFCCO), 4) Saint Bernard Multipurpose Cooperative (CBMPC), 5) PASAR Employees Multipurpose Cooperative (PEMC), 6) Fatima Multipurpose Cooperative, 7) Benabaye Primary Multipurpose Cooperative (BENAPRIMCO), 8) Basak-Layog Multipurpose Cooperative (BLAMPCI), 9) Omaganan Farmers Agrarian Reform Cooperative, 10) Almeria Seafarers Multipurpose Cooperative, 11) Piadi Multipurpose Cooperative, and 12) Magsige Credit Cooperative.
Collectively, these MLCs contributed Php 2.425 million, while twenty-six (26) others pledged an additional Php 2.9 million, raising the total commitments to Php 5.325 million.
In closing, Deputy Administrator Atty. Elizabeth O. Batonan called on more cooperatives to take part in this transformative journey, stressing that the strength of larger cooperatives must serve as the lifeline of smaller ones. “Unity is not just a slogan but a concrete action of the cooperative movement,” she said.
