THERE is no doubt about it. The wonder Barp Center for Senior Citizens and Elderly Building at No. 9, Upper Buhagan Road, Cresencia Village Barangay, Baguio City would not have risen without the helping hand of CSFs, in the case at hand in particular, of BCCSF.
CSF is the acronym for Credit Surety Fund; BCCSF is for Baguio City Credit Surety Fund, is one of the 28 CSFs in Luzon out of 53 throughout the Philippines.
The CSF is a project spearheaded by the Bangko Sentral ng Pilipinas (BSP). It is a “scheme that aims to increase the credit worthiness of Micro, Small and Medium Enterprises (MSMEs) which are experiencing difficulty in obtaining loans from banks due to lack of acceptable collaterals, credit knowledge and credit track records.” “It works and helps in the sustaining of economic growth through increased flows. It particularly supports Micro, Small and Medium Enterprises in their role as drivers of economic growth.”
The Blessed Association of Retired Persons Foundation, Inc. (Barp) is a living attester to the role of BCCSF in the case of the object of wonderment that the Barp Center for Senior Citizen and Elderly Building is. The construction of this seven-story structure would not have been possible without the amount borrowed from a lending bank, especially so that the erosive foundation had to be reinforced most satisfactorily with the best that available engineering could contrive. The contribution shares enthusiastically given by the ten or so original members of the BCCSF served as more than enough, in addition to borrower’s principal collaterals, to serve as acceptable surety for three big loans to BARP and two other coops more, though relatively much, much less to these other two.
Incidentally, last Wednesday, January 30, 2019, the scheduled seminar to invite and attract additional members to BCCSF fortunately pushed through despite conflict of schedules of invited and expected parties. At least 130 registered individuals attended the whole-day seminar entitled “CSF and CDA Updates Orientation Seminar” held at the Baguio City Hall Multipurpose Hall. The participants represented the higher echelon officials of around 40 cooperatives. The rest represented LGUs and other NGOs aside from CSF itself, CDA (Cooperative Development Authority), three banks, and BSP.
Madame Eleanor Ramos and Atty. Monalisa Juarez, both BSP representatives, tackled the twin main topics scheduled about the what, why and wherefore of the CSF, as well as other issues arising therefrom. They did their job very well to state, elucidate their respective topics and respond to elicited reactions from the audience.
According to CDA Senior CDS officer Felicidad Cenon, Highlights of the lectures and discussions are scheduled to be consolidated by her CDA Office for dissemination to concerned coops, LGUs and other NGOs. Ramos is BSP Manager while Juarez is Director CSF Department Cooperative Development Authority specifically they spoke on the orientation on CSF, implementing rules and regulation, and registration.
After lunch representatives of three banks followed, namely GM. Shack Rhee R. Olay of the Coop. Bank of Benguet presented the lending policies of CBB Senior Manager and Accounting Officer Edgardo T Manalo gave the lending policies of DBP while Dept. Manager Jesus E Alegre, Jr. gave the policies of LBP. After each of them an open Forum was opened to the audience. BCCSF Chair Angelita B. Gayados spoke briefly on the updates on baguio CSF and Ms. Dina S. Camba on those of CBB. Reportorial Reports of CDA with Open Forum were given by Arvee Gaye Trinidad-Badua.
Distribution of certificates were given to the hands of Councilor Arthur Allad-iw, Ms. E. Ramos and Atty. Juares with all Baguio CSF Officers. Vice Chair Bernard Briones of the Baguio Finest MPC gave a very brief but pointed remark. Active EMEECs were Mr. Loreto Dolormente of the Mayor’s Offive and Michelle Agbuya also of the Mayor’s Office.
Chair Gayados acknowledge and gave thanks to all who contributed to the success of the one-day affair mentioning emphatically the first borrowers especially BARP whose representatives led by no other that President/CEO Federico A. Balanag, who came in their full regalla uniform as manifestation of their gratitude to members of BCCSF and to CSF in general.
EMCEE Dolormente encourage the participants to join in the novel intent of BCCSF to grow and serve the community of Baguio City and its environs. And not to forget, a closing prayer of thanksgiving was led by the assistant manager of the BARP Center Building.