Alamin kung ano nga ba ang kahalagahan ng kooperatiba
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00:00 We will now watch a cooperative. But before we start talking about that, let's watch this first.
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00:25 and hope for the many of our countrymen who are working and small businessmen, especially during the pandemic.
00:35 Let us know the importance of cooperatives in our country, and let our knowledge about their duties and responsibilities spread.
00:46 Here only on Rise and Shine Philippines.
00:51 Here is our live with Attorney Malou Pacao, the Deputy Administrator of the Cooperative Development Authority or CDA.
00:59 We are here with Ms. Joanne Gamboa and Mr. Sergio Herrero.
01:04 Good morning, Attorney.
01:05 Good morning, welcome to RSP.
01:07 Good morning, thank you for this opportunity.
01:12 For our countrymen, first of all, can you explain to our RSP what is a cooperative and what is a credit surety fund?
01:26 Okay, so a cooperative is an organization of people or groups that work together to address their economic, social, and other needs that they cannot do alone.
01:48 So they need to put up their own houses, they need to choose their leaders to manage the cooperative.
01:57 And because of that, the members can share, share in the income, or if they are in debt, they can also share in the debt of the enterprise that the cooperative built.
02:11 If you say, sorry, Attorney, that it is a cooperative, what is the importance of this?
02:17 The importance of a cooperative is that there are opportunities for people who work in groups to do something that they think they cannot do alone.
02:29 So in unity, there is strength, there is ability to address their needs.
02:38 What is the main importance or goal of this CSF cooperative?
02:46 This is a new type of cooperative that is based on a law, Republic Act 10744.
02:55 And this is aimed at the MSMEs and cooperatives who are having a hard time accessing financial services from banks because they lack capital or credit history.
03:11 Attorney, we have heard about cooperatives from other companies, even here in PTFE.
03:17 But what is this? Is this going to help small businesses in the country?
03:21 MSMEs.
03:22 MSMEs. So most cooperatives can borrow capital, whether for MSMEs, for their business, or sometimes for their providential needs like education, health,
03:40 and other needs.
03:42 Who can join this cooperative, Ma'am Joan?
03:48 For the CSF cooperative, our cooperatives that are well managed and well capitalized can join.
03:58 What does well capitalized mean?
04:02 Well, they have assets of 1 million and they can contribute 100,000.
04:10 And their capital adequacy ratio is at least 20%.
04:15 I will just add that, this cooperative is different because local government units and other government financial institutions also become members.
04:28 What are the eligible loan purposes that can be used under the CSF program?
04:34 Definitely, because this involves the CSF.
04:37 This should be a production loan.
04:40 They will use this for small businesses, members of the cooperative.
04:46 Even if the cooperative is not the one to borrow, their members who have their own businesses,
04:53 they will use this for small businesses. Because the CSF covers the loans of MSMEs in banks, whether land banks or DVP.
05:02 So they guarantee the borrowing of land banks or banks for our MSMEs.
05:09 And that is our small cooperative.
05:11 So, seriously, there are many of us who are interested but we still don't understand the full concept of this
05:21 and how it will affect each individual or MSME.
05:23 Sir, seriously, where can we inquire and look for guidelines about this for additional information?
05:30 Just go to our office, to the Cooperative Development Authority, National Capital Region,
05:36 in the corner of EDSA and Corregidor, the ground floor of our EDSA Grand Residences, our building.
05:46 So you can talk to me, I'm there.
05:50 If you want to ask, you can ask Tony Paca or Joanne.
05:53 They can talk to you there.
05:56 And here, attorney, maybe many of you want to know this.
06:00 Is there a money that can be withdrawn from a member of the cooperative?
06:05 And what else can he get in return?
06:08 Okay, if a member is going to withdraw from a cooperative,
06:15 what he can get is his savings, what he has saved in the cooperative.
06:21 If he leaves, he should also receive that,
06:24 including if he has an interest and if he hasn't received any other cooperative.
06:30 He should receive that if he has resigned from the cooperative.
06:34 Okay, to Ma'am Joanne,
06:37 is it the right of a cooperative to conduct a General Assembly or a meeting to give updates to its members?
06:47 For example, their use of funds and other activities.
06:51 Actually, cooperatives are required to conduct a General Assembly,
06:56 an annual General Assembly where all members meet and discuss their problems,
07:06 their issues, and of course, what benefits are there for the members.
07:10 Ma'am Joanne, what is the penalty for the leaders of cooperatives who are in charge of the administration?
07:20 It is passed internally.
07:23 It means that the bylaws of the cooperative will be checked on how to discipline our officers.
07:31 We have committees in charge of this, the Ethics Committee or the Mediation and Conciliation Committee.
07:37 That is where it will start inside the cooperative and the bylaws will be implemented on how to discipline their leaders if they make mistakes.
07:47 If he is not good in the cooperative, they can file a case with the Cooperative Development Authority.
07:59 We have adjudicatory powers where we can judge who is wrong or right and punish the officials who are, as you said earlier, a bit abusive or who make mistakes in the cooperative.
08:15 Again, where can this be implemented and what is the process of this?
08:20 So that there is a way to protect the officers of the cooperative from their cases.
08:28 They will file a verified complaint with the Cooperative Development Authority.
08:33 There is a due process.
08:35 The leaders will also be given the opportunity to explain and give their version of their story.
08:44 And the leaders will also be given the opportunity to give evidence to prove that their leaders are really guilty.
08:56 Is this a requirement or is it better for a cooperative to have a transparent management of the funds?
09:05 Actually, that is the heart of a cooperative, the transparent governance.
09:11 Because the members are not just members, they are the owners of the cooperative.
09:17 They should have the right to know what is happening in their cooperative, whether it is good or not.
09:27 The members should know that.
09:29 Just to simplify, the Credit Surety Fund, the CSF as it is called.
09:36 Okay, sure.
09:39 So the Credit Surety Fund, as Sir Jun explained earlier, is a fund that will be given to the bank instead of collateral.
09:49 So that it can guarantee the non-payment.
09:52 So instead of collateral like the land or the buildings or whatever,
09:57 it will be given a credit surety cover that says that if the borrower is not able to pay,
10:04 the only way to get the payment is the fund that was collected by a cooperative.
10:10 So that is the collateral, the security that the loan will still be paid in the event that the borrower fails to pay.
10:18 Our colleagues here in the studio are all English because they are members of the cooperative.
10:23 We are not members yet.
10:26 But anyway, for a deeper insight into the cooperative, we have more questions.
10:32 Again, thank you very much for visiting our program and for telling us this morning.
10:39 We have with us, Atty. Malou Pacao, the Deputy Administrator, Cooperative Development Authority, as LCDA.
10:46 Thank you very much.
10:48 Thank you.
10:50 - Mm-mm.