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PIA Press Release

Davao Norte starts Coop Month with a bang

by Noel Baguio

Davao City (8 September) -- Leaders and members of close to a thousand active cooperatives in Davao del Norte again showed unity and camaraderie during the opening salvo of this year's celebration of the Cooperative Month on October 4, 2009.

A well-attended Thanksgiving Mass at the New Christ the King Cathedral in Tagum City kicked off the activities, followed by a parade of cooperatives around the major thoroughfares of the city.

Governor Rodolfo Del Rosario led the opening salvo program at the Tagum City Trade Center, with this year's theme, "One Coop Movement, One Vision, One Nation: Bagong Batas, Bagong Sigla sa Kooperatiba."

Gov. Del Rosario reiterated his administration's all-out support and commitment to the sector, as enshrined in this RDR WHEELS impact agenda. He also assured to put in 3.6 million or more as counterpart to the amount already raised by local cooperatives for the credit surety fund, which addresses the need of micro-, small- and medium enterprises (MSMEs) to avail of collateral-free loans for more capital to expand or develop new products.

The CSF is a fund generated from contributions of well-capitalized and well-managed cooperatives with counterpart contributions from the provincial government and the national government's Industrial Guaranty and Loan Fund (IGLF) equivalent to the amount raised by the local cooperatives.

With the various initiatives and interventions of the provincial government, Davao del Norte's cooperative sector has contributed substantially to the local economy.

Cooperative Division Chief Engr. Humber Cabunoc bared the cooperative sector in the province soared up last year, accumulating a total asset of P4.8 billion and generating a gross income of P1.061 billion. The P5 billion-worth of total volume of business generated has further created some 10,350 new jobs for the people.

The Cooperative Development Authority cited the very satisfactory performance of the province, noting Davao del Norte cooperatives ranked 1st in the Davao region in terms of gross income and volume of business generation, as they also ranked 2nd place in terms of total assets, net surplus, member's equity and deposit generation.

Other activities during the day included press conference, poster-making contest, parlor games and awarding of prizes for the winners, including winners in the literary/musicale contest and Search for Coop Idol held on October 3.

Coop activities lined up for the month-long celebration include coop health and wellness program on October 9 at the Bulwagan; consultative forum in San Isidro on October 14; coop tree growing in New Balamban and Busaon in Tagum City on October 22-23, respectively and coop bi-media promotions throughout the province from October 1 to 31. (CIO-Tagum City) [top]

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