Davao: December 6 - US Funded program recognizes World Class Cooperatives

The Credit Union Empowerment and Strengthening (CUES) Program, a US-funded program implemented by the World Council of Credit Unions (WOCCU), has identified two more partner cooperatives in the Philippines as world-class and awarded them with the FOCCUS brand of excellence in credit union operations. This raises the list of international standard Philippine cooperatives to 16. The Lorenzo Tan Multi-Purpose Cooperative in Tangub City, Misamis Occidental and Abuyog-St. Francis Xavier Credit Cooperative in Abuyog, Leyte were recognized as world-class during an awarding ceremony held at the Davao Convention and Trade Center last Dec. 6, 2004. CUES attributed the achievement of the cooperatives to following methods that the CUES Program has instilled since they were first assessed. Fourteen other Mindanao cooperatives have been previously recognized as having achieved world class standards.

During the same event, the Model Cooperative Network (MCN) composed of fourteen (14) member FOCCUS-branded savings & credit cooperatives was formally launched. The MCN will implement an internal prudential regulatory framework for its members to insure sustained adherence to international best practices in credit cooperative operations.

Member coop representatives pledged their commitment to the alliance of FOCCUS cooperatives as safe, stable & sustainable coops. The oath and commitment statement signing was administered by Mr. David Richardson, WOCCU’s Senior Technical Advisor. Headed by Chairperson Ferdinand Subido from Silangan Multipurpose Cooperative, MCN’s Board of Trustees and Officers also took their oath of office.