CEBU CITY, Cebu (PIA) –- The Cooperative Development Authority Region 7 (CDA) is encouraging the public, especially the youth, to join cooperatives for them to learn the habit of saving and avail of the different cooperative services.
CDA-7 emphasized the significance of being a member of a cooperative, which brings a lot of benefits to people, such as effectively managing their financial status to availing of the various financial services.
CDA-7 regional director Cristina Villamil, during the 26th episode of the ‘Kapihan sa Bagong Pilipinas’ program on Dec. 3, said a cooperative is one of the tools that can help individuals improve their living status.
“For the young and those who are not yet members, we are encouraging you all to be members of our existing cooperatives,” said Villamil.
“Ang kooperatiba is the instrument for us to be able to alleviate o mapataas natu ang status sa kinabuhi through the cooperatives. Though it is mandated man gyud natu for the promotion of these cooperatives so that there will be equity, social justice, and economic development sa atong nasud,” she added.
(The cooperative is the instrument for us to be able to alleviate or improve our lives. It is our mandate to promote these cooperatives so that there will be equity, social justice, and economic development in our country.)
Aside from instilling the importance of saving, cooperatives also offer several services to their members, such as higher interest savings, loan services, and other financial services that would benefit their members.
“Gi encourage gyud nako sila kay it’s not just that they get a small amount of interest when you go to a bank, pero dinha sa cooperative at the end of the year they get something, of which one is its advantages over the banks. They get the interest, their paid-up capital, and they can also easily avail of its services,” the CDA-7 chief noted.
(I am really encouraging them to join not because they just earn a small amount of interest when they go to a bank, but at the end of the year they get more from the cooperatives. One of its advantages over the banks is they get the interest, their paid-up capital, and they can also easily avail of its services.)
Based on records from CDA-7, there are 696 compliant cooperatives in Central Visayas, of which 396 are in Cebu, 207 in Bohol, 78 in Negros Oriental, and 15 in Siquijor.
In Region 7, there are 1,551,364 individuals who are members of cooperatives, with Cebu having 896,897 members, followed by Bohol with 160,073, Negros Oriental with 474,354, and Siquijor with 20,040 members.
The Cooperative Development Authority (CDA) was the featured agency during the 26th episode of the ‘Kapihan sa Bagong Pilipinas’ program, a platform initiated by the Presidential Communication Office (PCO) through the Philippine Information Agency (PIA).
Watch the full episode here:
https://www.facebook.com/watch/live/?mibextid=WC7FNe&ref=watch_permalink&v=500416036355820&rdid=U3R3N6egpKMw6Rwj. (RGC/PIA7 Cebu)
