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CFI for Tanudan selected

 

“A

dda CFI min!” (We now have our CFI!).

 

 

 

When Aguinaldo Sicnawa (CMO – Tanudan) reported to the office and peeping at the main door and opening it, he laughingly yelled to Sharon Boguen (PAF – Kalinga) those words.

 

He was so excited to inform to the office that Tanudan has already a Community Finance Institution (CFI) after a long search.

 

The CHARMP2 has finally selected this August The Dupligan Farmers Multi Purpose Cooperative (DuFAMPCO) as the Community Finance Institution (CFI) for the Municipality of Tanudan to serve as a conduit for financial assistance to be provided to the Livelihood Interest Groups (LIG) of their Livelihood Assistance Fund (LAF) program.

The selection took a tedious process because it had taken time for the CMO and the PCO to finally convince the DuFAMPCO to join the CHARMP Family by becoming a CFI.

 

Last year, there was an activity of the AAIGA component that calls the attention of all existing cooperative in the CHARMP coverage area to apply and act as Community Finance Institution.

 

DuFAMPCO join the said activity but they did not comply to the requirement of the CHARMP for reasons that the coop officers did not agree to the terms and conditions stipulated in the Memorandum of Agreement.

 

When the AAIGA activities progresses and proposals were already being drafted, the absence of a CFI for Tanudan hampered the submission of proposals to the PSO.

One solution was to find other CFI in the province and that one coop of Pasil was ready and willing to handle the job.

 

The CMOs of Tanudan once again tried to go back once again to the DuFAMPCO and tried to reached out to their officers especially to the Board of Directors.

 

After a meeting, the DuFAMPCO was convinced and they submitted all the needed documents and other requirements as demanded by the CHARMP2.

 

Most of all, a Memorandum of Agreement was signed by and between the cooperative and the CHARMP last August 22, 2013 at the Provincial Coordinating Office.

 

The MOA specifically emphasized that the CFI will be responsible in the passing out the fund to the LIGs and in return retain a certain percentage for their administrative incentive.

The CFI will also handle the collection of repayments from the LIGs.

 

After the acceptance of the DuFAMPCO as CFI, the CHARMP 2 provided a special privilege by allowing the coop to submit a proposal.

 

DuFAMPCO complied and submitted a proposal as coffee consolidator in the municipality catering to buy and sell business of coffee.

 

The proposal was approved by the CHARMP and waiting implementation this November, 2013.

 

During the MMG meeting when the Manager Ramon Bumosao was given chance to render a privilege speech, he said that the cooperative will never forget the assistance of CHARMP and they will deal with this with full appreciation.

 

“Agyaman kami ta niriing dakami ti kinapudno nga masapul nga ti cooperatiba ket saan laeng nga para iti miembro nan gem tumulung met koma iti dadduma nga pagsayaatan para iti umili karkaro nu para Tanudan” (We are very thankful that CHARMP has awaken us to the reality that cooperatives are not supposed to confine their assistance to its members but rather expand to the community where it is needed especially if it is for Tanudan).// Alexander Dulliyao, PS-Kalinga

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