• All China Co-op Leaders Visit NATCCO

    QUEZON CITY – Delegates from the All China Federation of Supply and Marketing Cooperatives (ACFSMC) visited the NATCCO Network headquarters on September 18 to exchange information, learn about the Philippine cooperative sector, and explore business linkages.   The Chinese delegation Read More
  • Sector Honors 3 Tagum Co-op Leaders

    DAVAO CITY -- Three leaders of Tagum Cooperative were honored at the 14th National Cooperative Summit held at the SMX Convention City here, before some 3,000 co-op leaders from all over the country.   Mr. ANTONIO C. ARAÑAS, MPA has served Read More
  • Lezo MPC's Champion, Aklan's Pride

    AKLAN – She served the National and Local Government as a dedicated, hardworking Municipal Agriculturist Extension Worker of the Municipality of Lezo for 42 years, before she retired in 2010.  And Emelinda Revestir-de la Cruz has proven herself to be Read More
  • COOP-NATCCO Partylist guns for 3 seats

    All cooperative members, leaders, staff, management and stakeholders are reminded to support COOP-NATCCO Partylist (CNPL) in the upcoming 2019 Elections.  Support is through – voting, campaigning, or providing finances and logistics.   The CNPL, since 1998, has endeavored to protect Read More
  • Ravanera, Chinese Counterpart Sign Agreement

    The Cooperative Development Authority (CDA) represented by Chairperson Orlando R. Ravanera and the Ministry of Agriculture and Rural Affairs (MARA) of the People's Republic of China represented by Han Changfu, signed a Memorandum of Agreement (MOU) for the Strengthening of Read More
  • Financial Pillar Shows Challenges & Hopes of Co-ops

    DAVAO CITY – One of the highlights of the 14th National Cooperative Summit was the Financial Pillar Presentation.  The Financial Pillar is considered to be the most “liquid” sector of the cooperative, delving into financial services.   The Finance Pillar Read More
  • How Lamac MPC Engages Youth

    DAVAO CITY - Co-op Youth Leader Justine Limocon of Lamac Multi-Purpose Cooperative in Cebu Province, spoke at the Cooperative Summit before more than 3,000 co-op leaders from all over the country, urging them to engage the youth in their cooperatives.   Read More
  • NATCCO GA on April 26-28 in Iloilo City

    ILOILO CITY – Representatives of member cooperatives of the NATCCO Network will converge in Iloilo City on April 26-28 for the 17th Coop Leaders Congress and the 42nd General Assembly.  Venue is the Grand Xing Imperial Hotel.   This year’s Read More
  • Coop Philippines Marque Launched at 14th Summit

    DAVAO CITY – To establish the co-op brand and identity in the country, the Co-op Sector launched at the 14th National Cooperative Summit the Co-op Marque Philippines.   This is in line with International Cooperative Alliance thrust for “Vision 2020”, Read More
  • Dr. Luis Carrillo: Bigay Pugay Awardee 2018

    Dr. Luis Carrillo sought wisdom from the written divine revelation, fascinated with numbers, and believed cooperation is the key to attain better quality of life for humanity.    He obtained a Diploma in Pastoral Theology from International Grace Bible Institute 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.


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July 5 issue

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