Thursday, March 3, 2016

PHIL. CO-OP CENTER: 19TH YEAR





    The Philippine Cooperative Center (PCC) marks its 19th year on March 10, 2016, (Thurs.), starting at 1:30 p.m. with an open invitation to cooperative stakeholders at its office in Quezon City for  a "PCC Kapihan", a gathering and dialogue on cooperative issues.



    It so happens that March 10 is also the enactment day of the charter law creating the Cooperative Development Authority, if I remember correctly.  CDA used to commemorate this with a 5-day HRD forum for its employees nationwide.  I don't know now. At least I have not gotten wind of any information on this.



    According to an FB shout out, also guesting are:  Jaime Garchitorena, president of the Credit Information Corporation (CIC), who will talk about the participation of cooperatives in the creation of a CIC-led centralized, nationwide credit data base.  By the way, PCC is one of the shareholders of CIC, with PCC represented in the CIC Board by the PCC president.



    Another reported guest is Taloy Norte Farmers Multipurpose Cooperative, which made history as the first cooperative in the country to have complied with the credit data base requirement of CIC.  Taloy joined the first handful of institutions which complied, most of which are from the banking, credit, etc. sectors.



   Taloy, which is also well known as a  cooperative which participates in the Panagbenga, reportedly will share its experience on how it was able to be the first to comply.


    I happened to chance upon CIC president Garchitorena during the January 29, 2016 Microinsurance Month culmination rites at PICC.  He said, yes, there is only one cooperative that has complied (at that time), which was Taloy.  We should be hearing more updates on this come the PCC Kapihan.  Have more cooperatives followed the good example of Taloy?



    By the way, the deadlines for CIC compliance by cooperatives are seven and ten months away; on October 30, 2016 for large cooperatives; and on December 31, 2016 for medium-sized cooperatives, respectively (if my memory serves me right).  As I read in the CISA, CIC may (yes, may) fine a non-compliant cooperative of up to P30,000 per day.  Pls. check it out at www.creditinfo.gov.ph).



    When I bumped into Pres. Garchitorena then, he said that they are more into encouraging cooperatives to voluntarily comply, and are not focusing their information campaign on the penalty aspect.  Well and good.  But let me ask you.  Has your own cooperative started to initiate the compliance requirements with CIC?  If not, you have a lot for you to do.  And so does CIC.



    So, please, find the time to attend this event.  And here is wishing PCC a happy anniversary!  (END).

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