• Let's Get Digital!

    USAID’s Mamerto Tangonan gave a talk entitled The National Retail Payment System & the Digital Finance Landscape in the Philippines, delivered at the NATCCO Co-op Leaders Congress in Limketkai Luxe Hotel in Cagayan de Oro City for all co-ops to Read More
  • First Co-op Cup Chess Tournament October 21

    Excellent Peoples' MPC and NATCCO Network recently signed an Agreement to hold the first chess tournament for co-ops.   In the spirit of Cooperative Solidarity, the First Co-op Chess Cup Tournament for co-operators is scheduled for October 21 with theme Read More
  • #1coopnation in October!

    Cooperators all over the country are enjoined to celebrate the Cooperative Month this October, culminating in the National Cooperative Day on October 20.    The Cooperative Development Authority (CDA) issued on September 7 Memorandum Circular 2018-2 declaring said date as Read More
  • LANDBANK Lauds Gawad PITAK Awardees

    PASAY CITY -- Leading this year’s roster of winners in LANDBANK’s Gawad sa Pinakatanging Kooperatiba (Gawad PITAK) are two cooperatives that have remained steadfast and consistent in fulfilling their mission of bettering the lives of their members, and growing with the Read More
  • Text Blasting is eKoopBanker’s latest feature

    The NATCCO Information Technology Group is pleased to introduce a newly-launched feature of the NATCCO Network’s eKoopBanker /Plus financial software: TEXT BLAST FACILITY! This is an automated messaging system that can send the following text messages to your members:  • Read More
  • Oro Integrated Reaches for Stars, Deepens Roots

    Founded by 28 co-operators in March 1966 to provide opportunities for vendors, entrepreneurs, self-employed, teachers and farmers, Oro Integrated Cooperative has gone a long way.   OIC had sturdy roots, having co-op champions among its list of founders, such as Read More
  • Kaya is the Way to Go!

    In the UN Sustainable Development Goals 2030, there are two buzz words: “Leave No One Behind!” and a new one, “Reaching the Farthest Behind First”.   I think of the indigenous peoples in the rural areas.  In my village in Read More
  • Co-operatives Should Tap the Millennials

    Millennial, Social Entrepreneur, and author,  John Xavier Francia tells participants at the recent 2018 Co-op Leaders’ Congress in Cagayan de Oro 1) who are the millennials, 2) what it takes to take them on board, and 3) how they can Read More
  • Weather Bureau Cooperative Celebrates 65th

    When the Philippine Weather Bureau was undergoing rehabilitation due to the devastation wrought by the World War II, a core of enterprising weathermen established the Weather Bureau Employees Association (WBEA). The aims were, a) to promote brotherhood and unity among Read More
  • Credit Union Apex Endorses Kaya Payment Platform

        Credit unions empower and improve communities. According to the ICA, the cooperative identity is “based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical Read More
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CA says CISA Constitutional

THE Court of Appeals (CA) has denied the motion for reconsideration filed by the Baguio-Benguet Community Credit Cooperative (BBCCC) against the Credit Information Corp. (CIC), and upheld the constitutionality of the inclusion of cooperatives in submitting credit data of their member-borrowers to the CIC.

The resolution dated June 6, 2018, signed by Chairman Associate Justice Remedios A. Salazar-Fernando of the Former Second Division CA, declared that the petition raised by the said credit cooperative does not warrant the reversal of the assailed decision. The latter had stated that even if credit cooperatives extend loans only to their members or that cooperatives are autonomous, they are not exempted from the mandatory coverage of the law because they provide credit facilities to their members.

The Former Second Division CA also maintained that the law, which created CIC aims to establish a credit information system that is as comprehensive as possible, and that the exclusion of credit cooperatives from the mandatory coverage and operation of the law will, to some extent, weaken, if not defeat the purpose of the law.

On March 7, BBCCC, through its manager May Ann Bungag with Atty. Nelson V. Gayo, Oscar R. Adversalo, Conrad B. Chan, Mario S. Valdez, Emmanuel V. Tadeo and Consuelo M. Fernandez, filed a motion for reconsideration, saying the CA misinterpreted the issue they raised and the law.

On January 22, 2018, the Court of Appeals on its Notice of Judgment affirmed they were not convinced, denied the petition for lack of merit and dismissed the petition. It upheld the constitutionality of RA 9510 and its Implementing Rules and Regulations.

The CIC has been tasked to be the country’s central credit registry. It was created by Republic Act 9510, or the Credit Information Systems Act (CISA), to receive data from banks, credit cards, cooperatives and other financing institutions in order to establish the Philippines’s comprehensive and reliable credit information.

Once CIC is fully operational, cooperatives will be able to assist their member-borrowers from being over-indebted. This would also ensure that cooperatives extending loans or credits to their member-borrowers get priority to collect unpaid loans from defaulted members.

July 5 issue

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