GSAC extends helping hand to smaller cooperative

KOOP KAPATID was formerly known as “Big brother helping small brother program”.

This is in consonance with CDA memorandum 2020 -02 to assist micro and small cooperative partners in terms of technical support, financial and training interventions.

GSAC is ready to deliver such services to St. John Development Cooperative (SJDC) which needs help from a big brother cooperative SDC is located at Tabaco City, a 4 class component city in the province of Albay with 47 barangays with a population of 140, 961 as of PSA 2020.

SJDC was established in November 9, 1961 by the late Fr. Francisco Rempis after attending a seminar-workshop on credit union in July 1961 at Knights of Columbus Hall in Manila. Together with 48 parishioners, they started a credit union to help small market vendors in Tabaco.

SJDC engaged in short term loans for small businesses, regular loans for professionals, group loans and pension loan. The fire that hit its office years ago and the recent pandemic caused an adverse blow to its operation and to its members increasing their PAR thus turning their loan portfolio into sour accounts and depleting the working capital.

The economy of Tabaco city is heavily dependent on agriculture and aquaculture. Economic partners are the international port (includes ship dry docking, shipbuilding and repair) and a local fish port.

“Tabak” is a well-known metal craft aside from woodcraft, hat and mat weaving and ornaments.

Other gainful industrial works are metal bodybuilding of trucks, bus, AUV, tricycle and padyak. Series of meetings between GSAC & SJDC were conducted to explore possible areas that need GSAC intervention.

It was on August 13, 2021 in a meeting at Casa Lorenzo Resto at Daraga, Albay with CDA Asec. Vidal Villanueva III, CDA Regional Director; Atty. Malou Pacao, CDA Legaspi Personnel; GSAC BOD and top management spearheaded by CEO Nonito E. Collingwood, SJDC BOD and Management to formally commit on the KOOP KAPATID partnership between the GSAC and the SJDC.