Northern samar: The Northern Samar provincial government is preparing for the full operation of the Northern Samar Credit Surety Fund Cooperative (NSCSF Coop) to expand financial access for micro, small, and medium-sized enterprises (MSMEs) and cooperatives in the province.
According to Philippines News Agency, the NSCSF Coop was formed through a partnership among the provincial government, the Land Bank of the Philippines (LBP), and eight participating cooperatives. The cooperative undertook months of organizational and regulatory groundwork to ensure legal and sustainable operation. A significant milestone in its preparation was securing a Certificate of Registration from the Bureau of Internal Revenue, formally recognizing the cooperative as a legal entity authorized to transact and comply with national tax regulations.
The cooperative has established an official account with the LBP to provide a secure and transparent financial channel for managing contributions, protecting capital, and supporting future transactions with partner lending institutions. Organizational readiness was also prioritized, with members of the cooperative scheduled to attend a two-day Start-Up Course and Strategic Planning Workshop. This training aims to strengthen governance, financial management, and operational planning, equipping officers and stakeholders with the competencies necessary to manage the credit surety fund effectively and maintain transparency and accountability.
On Monday, the cooperative received a PHP3 million contribution from the provincial government, forming part of the fund's initial capitalization. With regulatory compliance secured, financial systems established, and capacity-building initiatives underway, the NSCSF Coop enters its operational phase on a solid footing, positioned to expand credit access for MSMEs and cooperatives across the province.
Upon its establishment in September 2025, the cooperative secured PHP8.5 million to create a credit surety fund aimed at expanding financial access for MSMEs and cooperatives in the province. The provincial government contributes the largest share, PHP3 million from its 2025 annual budget, matched by another PHP3 million from the LBP. The remaining PHP2.5 million comes from the combined contributions of the eight participating cooperatives, including Allen Municipal Officials, Employees and Communities and Multipurpose Cooperative (MPC); Northern Samar MPC; Agricultural Workers and Entrepreneurs MPC; Northern Samar Capitol Employees Cooperative; Palapag Teachers, Employees and Community MPC; Sumoroy Teachers, Employees and Community MPC; Catubig Multipurpose Cooperative; and the Pacific MPC.
