The Community Improvement Division (CID) of Cagayan de Oro City Hall, led by Cooperative Development Program Coordinator Rodger M. Zerna, recently held an organizational meeting with cooperative stakeholders to discuss the proposed Cagayan de Oro City Credit Surety Fund. The meeting, attended by representatives from the Cooperative Development Authority (CDA-10) and local cooperatives, aimed to garner support for the initiative.
Councilor Gilda ‘Gigi’ Go, chairperson of the council’s committee on cooperatives, expressed her optimism about the soon-to-open Cagayan de Oro Cooperative Office, which will serve coop members in northern Mindanao. She affirmed the city council’s support for the Credit Surety Fund, recognizing its potential to benefit local cooperatives.
The Credit Surety Fund (CSF) serves as an alternative credit enhancement facility for micro and macro cooperatives. By providing a guarantee for loans, the CSF can help cooperatives access financing and expand their operations. This initiative has the potential to boost the local economy and support the growth of cooperatives in Cagayan de Oro.
The meeting highlighted the importance of collaboration and partnership between the city government, CDA-10, and local cooperatives. By working together, these stakeholders can create opportunities for cooperatives to thrive and contribute to the city’s economic development.
With the support of the CID and city council, the proposed Credit Surety Fund is one step closer to becoming a reality. The CDA-10 team, led by Credit Surety Fund Division chief Maryann D. Gabutan, will continue to work with local stakeholders to implement the initiative and provide benefits to cooperatives in Cagayan de Oro.
