Bontoc, Mountain Province – Cooperatives in Mountain Province are joining the call of other cooperatives in the Philippines to either delay or stop the implementation of the Credit Information System Act (CISA). Passed into law in 2008, Republic Act No. 9510, also known as CISA, mandates all lending institutions to submit their clients’ basic and credit data to the Credit Information Corporation (CIC). Accordingly, the law calls on lending agencies like banks to submit the credit track record of their borrowers to the CIC so that every time the persons borrow, any lending agency could access the record for purposes of determining which action to take on the application for loan. During the Provincial Cooperative …

SAGADA Mountain Province – A cooperative, started years ago by 18 alumni of Bangaan National High School here, is now one of the biggest coops nationwide. Treasure Link Cooperative Society (TLCS) increased its assets by P95.6 million  due to increase of members year ending 2015  adding to a total of  3,541 regular members and  11,505  associate members/savers  and a total asset of  P329.9 million. Reports from the 11th general assembly of TLCS March 19 this year with the leadership of  manager Shellan Addag and Board chairman Julie Tuguinay informed members of the cooperative’s financial status of the institution and its services. Share capital increased by 53.5% or P31.1 M from 2014 and total savings deposit …