By Michelle Ducut
The Cooperative Development Authority (CDA) has intensified its monitoring and auditing efforts to ensure the sustained success and financial growth of registered cooperatives across the Cordillera Administrative Region (CAR).
CDA-CAR Director Felicidad Cenon reported on Wednesday that cooperatives are required to submit regular activity reports, audited financial statements, and evidence of compliance with mandatory training programs. These measures help the CDA assess their condition and provide necessary assistance.
“For non-compliance, we issue show cause orders. We also offer technical assistance to help struggling cooperatives recover or to enable thriving ones to level up. Our ultimate goal is to make cooperatives economically prosperous so they can better support their members,” Cenon said.
These efforts have yielded notable results, with 11 cooperatives in the region now reaching the “billionaire” status, reflecting robust financial performance. The region is home to 326 micro cooperatives, 132 small cooperatives, 101 medium cooperatives, and 12 large cooperatives.
Cooperativism has continued to grow in popularity in the Cordillera region, with membership increasing from 571,000 in 2020 to over 707,000 in 2022, according to CDA records. This accounts for nearly 40 percent of the region’s 1.8 million population based on the 2020 Philippine Statistics Authority census.
The economic impact of these cooperatives is significant. Total assets grew to PHP46 billion in 2023, a sharp increase from PHP28 billion in 2019, while their total business volume reached PHP32 billion.
Jona Ponciano, a member of two “billionaire” cooperatives—the Benguet State University Multi-Purpose Cooperative (BSUMPC) and the Abra Diocesan Teachers and Employees Multi-Purpose Cooperative (ADTEMPCO)—shared how her cooperative membership has benefitted her.
“Even with minimal capital, I earn dividends and enjoy medical and death benefits, which gives me peace of mind. It’s reassuring to know that my small investments are secure and accessible when needed,” Ponciano said in Ilocano.
She added that her membership has enabled her to save money, withdraw funds for emergencies, and access loans for small projects, making cooperatives a practical financial safety net for her family.