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PCDO introduces financing program to transport coop

Provincial Cooperative Development Office
October 2, 2020
 

The Provincial Cooperative Development Office (PCDO) added the Calamba 44 Transport Service Cooperative (CTSC) in the growing list of cooperatives joining the Laguna Credit Surety Fund (LCSF).

During PCDO’s visit to the coop's transport terminal in Calamba City on 20 September 2020, PCDO Head Engr. Edwin Bautista and Mr. Bonifacio Pascual presented briefly to the Coop officers the concept and features of the LCSF Program.

Upon learning of the how the members would benefit from the program CTSC Chairman Mr. Eddie Montemayor expressed his intention for the coop to become a member of LCSF.

The LCSF is a credit assistance program of the Provincial Government of Laguna (PGL) spearheaded by Bangko Sentral ng Pilipinas and being implemented in the province through PCDO.

A total of five (5) million pesos was invested by PGL to the program along with contributions of partner institutions such as Land Bank of the Philippines (LBP), Development Bank of the Philippines (DBP), Industrial Guarantee Loan Fund (IGLF) and capital share from nineteen (19) member-cooperatives.

(Ronald R. Minalabag, photo from PCDO/PIO Laguna)