BONTOC, Mountain Province – The provincial government, through its Provincial Cooperative Enterprise Development Office (PCEDO), in collaboration with the Cooperative Development Authority (CDA), conducted a two-day training on fundamentals of cooperative and credit and risk management at the old Office of the Provincial Treasury Officer on September 5-6, 2024.
PCEDO Senior Cooperative Development Specialist Venus O. Padayao discussed the topics covered in the training and shared her real-life experiences and other related situations encountered in other cooperatives. She also shared useful tips and lessons while explaining the contents of the training with her presentations shown as the participants interacted and asked questions based on their experiences in their respective organizations.
In her presentation, she shared that cooperative education is taking on new importance on the proper management of the organization. Many of the cooperatives nowadays are failing due to mismanagement. The Cooperative Development Authority pushes that all cooperatives must adhere to the mandates of the Republic Act 9520, the Cooperative Code of the Philippines where all cooperative officers and workers undergo mandated training on Fundamentals of Cooperative is a priority training that they attend.
“Trust and confidence of members is essential for the success of cooperative. However, every move in this world is subject to risk. The cooperative is not exempted from this. Rather, it is subjected to it. Therefore, the cooperative, especially the officers and staff, in order to hold the trust and confidence of the members must be very careful in managing the cooperative.
Knowledge, dedication, and honesty are highly required in them, hence the documentation of this training in order to update the knowledge of members and officers of the different cooperatives on risk and management.” added Padayao.
Meanwhile, the principles, types, purposes, objectives, powers of cooperatives, kinds of membership, duties, obligations, liabilities of members, and organizational structures were discussed on the first day.
Furthermore, risk management that are applicable on the development of the cooperative, risks that affect the credit, operational situation and coming up with policies that will be presented to the board of directors for further study and adaptation were tackled on the next day.
Despite the bad weather, the participants were able to come, join, and were grateful for the knowledge imparted during the training. By TFF
