|News and Updates|
The two-day event was celebrated successfully through the help and support of major stakeholders like Cooperative Bank of Benguet.Delegates from various cooperatives in the Region were enlightened by various topics like Cooperative Taxation and Exemptions; Vegetable Industry Sanitation; Status of Cooperatives; CDA 3 Point Agenda; Social and Legislative Laws on PAG-IBIG, PhilHealth and Social Security System and other relevant knowledge sharing activities.
One of the special activities that the cooperative's socialization and camaraderie was the conduct of cultural presentations from the School of Living Traditions Performers during the Cultural Night.
SPECIAL SHAREHOLDERS' GENERAL ASSEMBLY OF THE COOPERATIVE BANK OF BENGUET
Notwithstanding the blustery weather,the SPECIAL SHAREHOLDERS' GENERAL ASSEMBLY was successfully held last October 1, 2011 at Ben Palispis Hall, Provincial Capitol, La Trinidad, Benguet.
It started from eight o'clock in the morning and was finished at around three o'clock in the afternoon.
Sixty (60) operating cooperatives out of the eighty (81) operating cooperatives in Baguio and Benguet attended the Special General Assembly.
The agenda discussed were about the Amendment of Articles of Cooperation and By- Laws.
Credit Surety Fund Program
The Credit Surety Fund Program of the Bangko Sentral Ng Pilipinas (BSP) is a credit enhancement scheme that allows cooperative members belonging to the micro-small-medium enterprises or mSMEs to borrow from participating banks even without collateral. The fund generated from cooperatives with counterpart contribution from the LGUs and donors like the Development Bank of the Philippines, Land Bank of the Philippines and the Industrial Guarantee Loan Fund will be used to provide surety cover which guarantees mSME loans from participating banks like the Cooperative Bank of Benguet. The collective fund will be deposited in a government bank.
BSP officials convinced the Benguet Provincial Board and the Provincial Governor Honorable Nestor B. Fongwan to provide the LGU counterpart to the fund. There are 17 Cooperatives and NGOs as pioneer investors to the fund. Cooperative Bank of Benguet is one of the 17 pioneers.The Benguet Credit Surety Fund (or Benguet CSF) was formally launched on August 31, 2011 at the Benguet Provincial Capitol, La Trinidad, Benguet.