Davao City receives NACUFOK, Tagum Cooperative donation
DAVAO CITY – To stem the spread of the Corona Virus, Malacanang Palace released on March 16 guidelines for the enhanced community quarantine starting March 16. Only private establishments “providing basic necessities and such activities” are allowed to remain open during the quarantine period.
“Essential business” allowed to operate during the quarantine were Medical Services (hospitals, pharmacies), Retail and Wholesale (public markets, supermarkets, convenience stores and groceries), Food Preparation (food delivery) and Utilities were listed.
Unfortunately for cooperatives, for Financial Services, only banks and money transfer services were listed.
Thus, when local governments implemented lockdowns, co-op staff were not allowed to travel as workers of “essential businesses.”
Co-op leaders protested, invoking Section 4 n of Republic Act No. 11469, issued by President Duterte on March 23, which said Government should “Ensure the availability of credit to the productive sectors of the economy especially in the countryside . . .”
But it was to no avail and many co-ops remained closed during the quarantine.
Except in Davao City where the City Government allowed co-ops to open subject to quarantine protocol.
However, in most other parts of the country, it was not until May 16 that credit cooperatives would be officially allowed to operate under the Modified Enhanced Community Quarantine guidelines.
Meanwhile at the Association of Asian Confederation of Credit Unions (ACCU) level, national credit union networks were in constant discussion on how to accompany the primaries through the COVID Crisis. The National Credit Union Federation of Korea (NACUFOK) was interested to provide assistance specifically to Davao City and thus sent US$ 3,000 all the way from Seoul. NATCCO’s ardent member, Tagum Cooperative likewise donated US$1,000, totaling to two hundred thousand pesos (PhP200,000).
Attributed by the local partners, the National Confederation of Cooperatives (NATCCO) and Philippine Federation of Credit Cooperatives (PFCCO), the donation was granted and bestowed to the Davao City government for allowing co-ops to operate at the height of the lockdown during the COVID-19 pandemic. The donation will be used for the city’s COVID-19 undertakings. For NATCCO and PFCCO, the donation also came as recognition of Davao City’s leadership in allowing cooperatives to operate as ‘essentials’.
In simple turnover ceremonies on May 29 at the City Hall, officials of the National Confederation of Cooperatives (NATCCO), Philippine Federation of Credit Cooperatives (PFCCO), and Tagum Cooperative (TC) handed over to Davao City Mayor Sara Duterte through her representatives, Atty. Zuleika T. Lopez (City Administrator), Atty. Lawrence D. Bantiding (Acting City Treasurer) and Ms. Luzminda C. Eblamo (OIC, City Cooperative Development Office) the aforementioned donation.
Representing NATCCO was Member Relations Networking Group Head, Ms. Lalaine Y. Gepaya, and for PFCCO, Ms. Arlyn Donga. Tagum Cooperative was represented by Ms. Clyjenne Diaro (Branch Manager).
Tagum Cooperative is based in Tagum City. Tagum Cooperative’s (TC) began as “Holy Name Society (HNS) of Tagum Parish” in May, 1967 with a handful members and an available share capital of only P80.00. Today, it is one of the largest cooperatives in the Philippines, managing assets amounting to P 6.5 Billion belonging to its 157,925 members (58,740 of whom are youth).
The National Credit Union Federation of Korea (NACUFOK) is an apex trade association, financial intermediary, and business organization consisting of all credit cooperatives in South Korea. It was established in 1964.
Credit co-ops in Korea manage more than USD 52 Billion assets belonging to 5.9 million individual members.
NACUFOK, NATCCO and PFCCO are members of the Association of Asian Confederation of Credit Unions (ACCU) based in Bangkok, Thailand.