Region I’s cooperatives on the upswing

By October 16, 2016Business, News

Here are the updated fast facts on cooperatives in Region 1:

  1. There are now 1,536 cooperatives operating but only 878 are compliant, religiously submitting documents to the CDA regional office. At least 714 coops have updated their reports.
  2. Pangasinan has the most number with 383 covering 24 towns; La Union is second with 115 in 14 towns; Ilocos Sur contributes 101 coops in its 21 towns, and Ilocos Norte has 115 for in 14 municipalities.
  3. Ilocos Sur hosts the richest cooperatives; Ilocos Sur boasts of three billionaires while Pangasinan and La Union have one each.

Regional Director Josefina Bitonio of the Cooperative Development Authority (CDA) confirmed these during the regional cooperative month celebration held in Dagupan City recently.

“Social change is elusive and breaking poverty is formidable as ever that is why we urge cooperative members to be catalysts of change through poverty eradication and social transformation.” Bitonio said.

Meanwhile, CDA Chairman Orlando Ravanera said “Cooperatives have addressed the physical barriers that hinder people from being included in the formal financial system. “However, he pointed out that besides physical access to financial services, “these services must be affordable, of good quality and relevant to lead to actual usage that can benefit the person accessing the said service.” (VHS/PIA-Pangasinan) 

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