La Trinidad municipal government recognizes top local cooperatives

LA TRINIDAD, Benguet -- The municipal government here recognized top performing cooperatives that that contributed to growth of the town's economy despite negative impact of the Covid-19 pandemic.
    The 2023 Gawad Parangal for Cooperatives was led by Mayor Romeo Salda, Vice Mayor Roderick Awingan, Councilor Francis Lee and regional director lawyer Franco Bawang, Jr. of the Cordillera office of the Cooperative Development Authority.
    The ceremony recognized deserving cooperatives that operate in the municipality.
    The Benguet State University and Community Multipurpose Cooperative was conferred the Hall of Fame Ward for having been recognized as top performing large cooperative in the municipality over the past several years.
    It was also recognized for being the billionaire cooperative operating in the locality over the past several years.
    For the large cooperatives, the La Trinidad Vegetable Trading Post Multipurpose Cooperative garnered first place, closely followed by the Benguet Government Employees Multipurpose Cooperative, and the Baguio Trinidad Jeepney Operators and Drivers Association Multipurpose Cooperative.
    The La Trinidad-based Agawa Multipurpose Cooperative was adjudged as the top medium cooperative followed by the Bokod Sulfur Multipurpose Cooperative – La Trinidad branch, and the BPIO Employees Multipurpose Cooperative.
    In the small cooperative category, Barangay Alapang Multipurpose Cooperative was given the top honors.
    Among finalists in  various categories: La Trinidad Municipal Employees Multipurpose Cooperative, Treasurer Link Cooperative Society, Abra Diocesan Teachers and Employees Multipurpose Cooperative, La Trinidad Orchidarium Multipurpose Cooperative and the Universal Multipurpose Cooperative.
    Special awards were also given to La Trinidad Orchidarium Multipurpose Cooperative for its outstanding community involvement and development program in the municipality; La Trinidad Vegetable Trading Post Multipurpose Cooperative for its excellence in membership growth and expansion program; Universal Multipurpose Cooperative for its excellence in membership growth and expansion program; Barangay Alapang Multipurpose Cooperative for its remarkable cooperative solidarity and partnership program that led to the increase in its assets; La Trinidad Municipal Employees Multipurpose Cooperative for its excellence in providing financial products and services to its members and BSU and Community Multipurpose Cooperative for bagging the Hall of Fame award by continuously reaping the top spot as the Most Outstanding Cooperative in the municipality and for its outstanding gender and development program resulting to a gender responsive cooperative.
    The local government also recognized its partners for the successful implementation of programs, projects, and activities for the advancement of cooperatives such as the CDA-CAR, the CAR Cooperative Union and the Benguet Provincial Cooperative Union.
    The annual Gawad Parangal for Cooperatives is an institutionalized activity of the local government.

Read more...

Union Bank sets digital solutions for businesses

By Mariel De Los Santos

Union Bank of the Philippines (UnionBank) embarked on a digital transformation journey in 2016, long before the Covid-19 pandemic underscored the importance of digital readiness.
    This forward-thinking approach has enabled UnionBank to position itself as a digital trailblazer in the financial sector, allowing them to scale their operations efficiently and stay ahead of the curve.
    One of the most striking aspects of UnionBank's digital transformation is the overhaul of their customer touchpoints.
    The bank has gone the extra mile to provide a seamless and enhanced experience for its customers: from transforming physical branches into today’s ‘Arks’ — advanced, digitally-integrated spaces catering to customers’ various needs — to developing user-friendly, online banking applications which allow them to conveniently access their accounts and manage their finances within the comforts of their homes, and even the creation of a specialized platform which addresses the unique needs of corporate clients.
    UnionBank’s tailored approach is an excellent demonstration of the bank’s commitment to meeting the diverse requirements of its customer base, as it embraces the advantages of the digital age.
UnionBank's core strength lies in transaction banking, with 51% of their deposits originating from corporate clients, surpassing the industry benchmark of 45%.
    The adept manner in which they handle their transaction banking processes has led to quicker and more secure financial transactions, and has earned the trust of their corporate clients in the process.
    Unionbank recognizes the evolving business landscape and is committed to helping other enterprises succeed in the digital age by ushering in a new era of innovative transaction banking solutions. Unionbank aims to empower businesses — to be built for beyond.
PayExpress
A first of its kind, PayExpress, is an electronic supplier payment solution with automated Check Disbursements and Creditable Withholding Tax (CWT) Generation. Unionbank understands the significance of streamlining supplier payments and enhancing efficiency — and PayExpress does just that. It allows clients to conveniently manage transactions by collecting Official Receipts (ORs) from suppliers and vendors prior to disbursing or crediting payments.
    What sets PayExpress apart is its immediate generation of Creditable Withholding Tax (CWT) and Invoice Vouchers, sent directly to nominated email addresses of suppliers and vendors, once the ORs are collected and funds are credited to payees.
    PayExpress complements the Bureau of Internal Revenue's (BIR) forward-looking strategy to adopt an e-Invoicing and e-Receipt System. The initiative is a significant step in the modernization of the country's tax documentation processes. By providing a secure and efficient platform for collecting Official Receipts (ORs) and generating essential documents like Creditable Withholding Tax (CWT) and Invoice Vouchers, PayExpress helps businesses seamlessly adapt to these evolving tax regulations. This alignment not only simplifies tax compliance but also contributes to the overall transparency and efficiency of financial operations.
Payroll Digital Account Opening (eDAO)
Say goodbye to in-person bank visits when setting up payroll accounts with UnionBank’s Payroll Digital Account Opening (eDAO). eDAO is a solution which provides efficient, paperless, and fully-digital end-to-end ePaycard payroll and corporate disbursement solution for corporate clients to their employees. Corporations can now efficiently distribute salaries, while offering an array of value-added benefits to their employees allowing them to open an account at the convenience in their own home.
    Moreover, eDAO also complements the upcoming Bank Account Portability For Workers Act (Hb7619), granting private sector employees the prerogative to select and change their preferred bank accounts, thereby liberating them from the constraints of a one-size-fits-all banking system.
    In essence, eDAO not only simplifies the account setup process for corporations; it also positions UnionBank as a forward-thinking institution aligned with legislative changes aimed at enhancing the financial flexibility and convenience of employees.
Remote Check Deposit
Remote Check Deposit (RCD) redefines the way checks are deposited. With RCD, corporate clients can effortlessly use a check scanner to deposit a hundred checks at a time online, eliminating the need for branch visits. All they need to do is upload the images along with the check details on The Portal, and UnionBank will take care of the rest — from validating the submitted images and details to depositing the approved checks. RCD supports deposits of both current-dated and post-dated checks, with a cap of PhP20,000,000. Clients can conveniently track their status online, from warehousing to clearance and return. RCD also provides a clear display of cleared and bounced checks, making it a cutting-edge innovation in check payments, perfectly complementing the bank’s mobile check deposit service
Mobile Check Deposit
The implementation of the Check Image Clearing System, adopted by the Philippine Clearing House Corporation (PCHC) in 2017, marked a significant advancement in the modernization of banking processes. This innovation eliminated the need for physically transporting checks for clearing, as only check images and their electronic payment information were required to be transmitted to the paying bank. In tandem with advancements in mobile technology, UnionBank introduced its award-winning Mobile Check Deposit (MCD) in 2020, effectively reshaping the operational landscape for business clients. MCD capitalizes on the prevalence of the most commonly used gadget – a smartphone — by allowing corporate clients to conveniently deposit checks at their preferred time and place, thereby overcoming the limitations of having to visit traditional physical counters and embracing the convenience of a digital interface.
The PORTAL
All these cutting-edge transaction banking solutions are all conveniently accessible through a single platform known as "The Portal”. This one stop shop corporate banking facility offers corporate clients seamless access to UnionBank's extensive array of products and services, making it the go-to-choice for large corporate entities seeking a convenient, secure, and efficient solution for their day-to-day financial transactions.
    The future of banking is here, and UnionBank remains dedicated to elevate businesses’ transaction banking experience through its continuous pursuit of innovative solutions.
 
 
 
 

Read more...

Coin bank program lessens Abra town neonatal deaths

BANCO DE NUEVE -- The Rural Health Unit of Peñarrubia, Abra gives free bamboo coin banks to expectant mothers on their first pre-natal checkup to encourage saving up before they give birth. Municipal health officer Dr. Elsa Gonzales said in an interview Nov. 6 the program contributed to zero neonatal deaths since 2012. -- Liza T. Agoot/PNA

By Liza Agoot 

BAGUIO CITY – The coin bank program of the municipality of Peñarrubia in Abra province, which encourages those who are pregnant to save money for emergencies, is contributing to the town’s zero neonatal death rate since 2012.

Liza Buenafe, who delivered her third child in August 2016, said in phone interview Monday she only added P3,000 to her savings to cover the P8,000 hospital bill.
    “I was able to save P5,000 which came in handy when I gave birth through caesarian section (C-section) in a hospital in Bangued,” she said in the dialect.
    She is grateful to the “Banco de Nueve Project” being implemented by the Rural Health Unit (RHU), with the help of the village health workers who monitor their savings.

    “It helped a lot because I had C-section. There was no way I would be able to avail of the free birthing service of the RHU because they do not perform operations,” she recalled.
    Buenafe said that for those who give birth the natural way without any complications, the savings can be used by the family for food and other needs.
    In a separate interview, municipal health officer Dr. Elsa Dangani Gonzales said they started the project in 2016 to help the pregnant and their families.
    “The common problems encountered by families when emergencies arise during childbirth include not having a single amount when they are referred to higher level birthing facilities where they have to undergo laboratory tests and others services that they have to pay,” she said.
    She said the pregnant are given free coin banks the first time they have their prenatal check up at the RHU.
    The coin banks are made of bamboo, which is abundant in the Abra and are produced by community health workers in the villages of Peñarrubia.
    Aside from the coin bank, the mothers also receive pink booklets to monitor their savings.
Family, relatives, friends, or community members can also contribute to the coin banks.
    “The amount they saved, if not used in delivery, can be used for newborn screening. In worst cases, wherein the family does not have any money, the LGU (local government unit) has a trust fund to help (with the expenses),” Gonzales said.
    Peñarrubia, a 6th class municipality located about 15 km from the capital town Bangued, has an RHU equipped with services for tuberculosis patients, a laboratory with complete blood count machine, among others.
    “We don’t charge. For the laboratory, our LGU subsidizes the services which are 100 percent free to the pregnant woman and 50 percent for the other clients,” Gonzales said.
    “As much as possible, we want to provide everything but considering the finances of the town, we make both ends meet so that we can give medical care to our people,” she said.
    The Department of Health augments the RHU with additional nurses, midwives, and a medical technologist, enabling it to also cater to residents of other towns. -- PNA
 
 

Read more...

PNB retirees fight for pension and benefits

By Aldwin Quitasol

BAGUIO CITY-- Retirees of Philippine National Bank (PNB) branches in Baguio and Benguet demanded they be given benefits and compensation for their years of service just like other government employees in the country.
    In a peaceful mobilization Nov. 7, the group of PNB retirees converged on main streets of this summer capital saying they were participating in national day of action.
    They said the peaceful assembly joined by all retirees of all PNB branches in the country against what they said was unfair treatment they received in return for years they rendered to the bank.
    According to retirees, the PNB was employing delaying tactics in their supposed compliance to the decision of the Courts on the payment of the employees' Cost of Living Allowance (COLA) and Special Amelioration Allowance (SAA).
    The group also complained of illegal deductions of Government Service Insurance Service (GSIS) gratuity pay from their separation or retirement pay.
    They said the PNB paid separation or retirement pay based on their basic salaries before and after the privatization of PNB instead of last basic salaries.
    They assailed dissolution of their employees’ provident fund.
    The retirees said GSIS should pay retirement benefits and pension based on total years of government service.
    They also sought legislation granting them lifetime pension as former employees who they disclosed were forced to received gratuity pay arising from PNB's privatization.
    "Instead of a one-time gratuity from their 20 years of government service, PNB employees who received gratuity pay from PNB's privatization should be granted lifetime pension just like government employees who are receiving monthly pension after rendering at least 15 years of service," the former employees said.
    The group started walking from the top of Session Road down to Malcolm Square where they explained to the public why they held protest mobilization.
 
 

Read more...

UnionBank’s 'Powered UP' campaign launches UB Negosyante

 Banking

Mariel De Los Santos

Solidifying its reputation of being a bank for MSMEs, Union Bank of the Philippines (UnionBank) recently launched UB Negosyante, its “powered Up” solution for micro, small, and medium enterprises (MSMEs) At the Podium Hall in Mandaluyong last Nov 8. The new brand for UnionBank’s MSME business banking was unveiled to the media and launched to a gathering of MSME clients and prospects.
    UB Negosyante’ s powered up campaign comes on the heels of the Bank’s business banking app being recognized as the Best Smart Payments Solution by an SME Bank by The Digital Banker at the recently held Global Retail Banking Innovation Awards 2023 in Singapore. UB Negosyante was launched with the aim of supporting MSMEs in their entrepreneurial journey by prioritizing their needs, whether they’re small and medium business owners, sole proprietors, or micropreneurs who want to take their business to the next level.
    UnionBank launched the MSME Business Banking app in 2021 and the powered up UB Negosyante builds on the benefits of the original app as it has enhanced tools that can help entrepreneurs take their business even further.  During the launch, UnionBank showcased successful MSME clients while Marketing Entrepreneurship Mentor (and UnionBank independent director) Josiah Go shared Innovation tips for the attendees and participated in a fireside chat with seasoned entrepreneurs, Mr. Jorge Wieneke & Ms. Nene Tamayo-Plamio in a program hosted by Ms Lia Cruz.
     According to UnionBank Institutional Segment Marketing Head Dino Velasco, the new name was the result of a survey and collaboration efforts conducted among business owners and the Bank's existing MSME clients with the goal of assessing their sentiments regarding potential enhancements to the app's name. The survey findings revealed a strong preference for the name  due to its simplicity and relatability.
    “Compared to MSME Business Banking, the new 'UB Negosyante' brand is more relatable, easy to understand, and more inclusive. That was the intent behind the rebranding,” Velasco said.
    “SMEs face so many challenges due to various pain points which can be discouraging to them. We wanted to address those pain points, so we put together a single user experience through the UB Negosyante app that will address those pain points, may they be related to collection, reconciliation, disbursement, just to name a few,” said UnionBank Business Banking Head Jaypee Soliman.
    To support the new solution, UnionBank also launched the "Powered UP" campaign, which will promote all the features of the new solution and how they can benefit entrepreneurs, as well as provide tips and best practices that will aid them in their entrepreneurial journey.
    The campaign is a revitalized version of the Bank's “Power to Grow” #WalangMaliitNaBusiness campaign launched in 2022. Its goal then as it is now, is to inspire MSMEs and help them with their business growth, while at the same time, make them aware that UnionBank is with them as a partner every step of the way.
    Among the tools available with the rebranded UB Negosyante is the improved mobile app, a fully-featured mobile application that allows SMEs to transfer funds, pay bills, collect payments, and deposit checks on the go. It comes with BizStarter, a basic checking account that requires a low opening and maintaining balance of just P5,000.

Read more...

Chinabank’s 9-month net income reaches P16.2B

China Banking Corporation (Chinabank, PSE stock symbol: CHIB) recorded P16.2 billion in net income from January to September 2023, 10% higher compared to the same period last year.  This translated to a return on equity of 15.6% and a return on assets of 1.6%.  
    Chinabank’s bottom line in the last nine months improved on the back of robust growth from core businesses and lower loan loss provisions.  For the third quarter alone, the bank netted P5.4 billion in profits, up 16% from the same period last year. 
    “Chinabank’s sustained growth reflects the successful execution of our business strategies.  Despite the current high interest rate environment, we continue to grow our bottom line by preserving our margins, managing our overall costs effectively, and bringing greater efficiencies to our operations with technology,” Chinabank President & CEO Romeo D. Uyan, Jr. said.

    Net interest income grew by 16% to P39.2 billion as the 44% surge in top line revenues cushioned the nearly triple increase in interest expense. Net interest margin was maintained at 4.2%.  
     The bank reduced its total credit provisions to P1.3 billion given its stable portfolio quality. Despite this, non-performing loans (NPL) cover remained better-than-industry at 126%.     
     Operating expenses increased by 14% to P20.5 billion, driven by higher manpower and inflation-related expenses and bigger volume and revenue-related taxes.  Cost-to-income ratio remained healthy at 50%.   
    Chinabank remains as the 4th largest private domestic bank with total assets of P1.4 trillion, up 11% year-on-year.    
Gross loans grew by 10% year-on-year to P765 billion, driven by the 19% expansion in consumer loans, particularly teachers’ loans and credit cards. The bank’s level of bad loans continued to be manageable, posting a better-than-industry average NPL ratio of 2.2%.  
    Total deposits increased by 14% to P1.1 trillion resulting to a 49% CASA ratio as term deposits grew year-on-year.
"Our balance sheet remains strong.  A quality loan book has helped us during a period of rising interest rates.  We also continued to optimize our capital structure, maintaining strong capital generation and asset quality,” Chinabank CFO Patrick D. Cheng said.   
    Total capital grew by 7% to P141 billion, with Common Equity Tier 1 Ratio at 14.9% and Total Capital Adequacy Ratio at 15.8%, well above the minimum regulatory requirement. Book value per share was at P52.50, up 7%. 
    Chinabank was recently named by the People Management Association of the Philippines as the 2023 Employer of the Year, the only bank to win the prestigious award in 30 years. This recognition for the bank's outstanding human resources practices comes in the heels of its latest accolades: Outstanding Wealth Management Service for the Affluent Award from the Private Banker International and Five-Golden Arrow Award from the Institute of Corporate Directors, the second time Chinabank has won this distinction for its excellence in corporate governance.
 

Read more...

BSP says digital transactions safe but clients’ help needed

BAGUIO CITY — The Bangko Sentral ng Pilipinas said digital transactions are safe because of safeguards and frameworks that had been put in place by the BSP to protect bank clients’ information and money.
    BSP North Luzon Bank Officer Rodora Teresa Opiniano said it is important for people to ensure their information are protected by not publicizing their important information on social media and other platforms that make it easy for scammers to steal their information and use it for  illegal activities or easily access the hard earned money of others.

    She said people should also be careful on use of advertised free wifi to avoid unscrupulous individuals from having access to their personal information.
    The BSP official said operation of financial service providers was strictly regulated to ensure money of bank clients are protected from unscrupulous activities, reason  it is important for individuals to ensure privacy of their information.
    According to her, ensuring safety of digital transactions is a 3-pronged approach where the BSP is regulator, financial service providers provider of safe platforms for transactions while clients should protection their information.
    Opiniano said when encountering problems in their digital transactions, people must immediately get in touch with their financial service providers to avoid incidents that might compromise their information and their money.
    She said people could also seek assistance from the available BSP chat box if they want to seek redress for their concerns that have not been appropriately acted upon by their financial service providers as initial step for them to bring their concerns to their financial service providers.

Read more...

BSP authorizes UnionBank as virtual asset services provider

 Banking

Banking Innovation trailblazer Union Bank of the Philippines (UnionBank) recently achieved another first in the industry after securing a Certificate of Authority from the Bangko Sentral ng Pilipinas (BSP) to operate as a virtual asset service provider (VASP). This makes UnionBank the first and only universal bank in the Philippines, licensed to offer virtual asset exchange services. UnionBank celebrated the landmark achievement during the ceremonial presentation of the license to UnionBankers last September 27 at UnionBank Plaza in Pasig City.
    With the VASP license, UnionBank will be able to tap into new markets and opportunities, explore new ways of addressing evolving client needs like never before, and remain at the forefront of technological advancements ensuring its competitiveness in the digital financial space. Together with its commitment to innovation, regulatory compliance, and customer-centricity, the license enables the Bank to become more future-ready, ready to serve and lead in an evolving financial landscape.
    The adoption of blockchain technology has been integral to UnionBank’s future-proofing strategy, and the Bank has been actively exploring potential use cases, including cryptocurrencies, to adapt to evolving customer needs and financial trends. In 2019, the Bank launched the country’s first bank-operated, two-way virtual currency ATM located in its digital branch “The ARK” in Makati City, which allows users to buy and sell cryptocurrencies.
    Drawing upon the insights gained from the virtual asset ecosystem, the Bank can discover additional applications for blockchain technology that extend beyond virtual assets.  Through exploring various possibilities such as tokenized collaterals, tokenized deposits, and the implementation of tokenization in trade finance and supply chain financing, blockchain technology has the potential to revolutionize customary banking processes, thereby bolstering efficiency, transparency, and accessibility.
    “This is a testament to the pioneering effort of the [Emerging Technology] team and the spirit of innovation by UnionBank,” said UnionDigital Bank President and CEO Henry Aguda during the ceremony. “Strategically, this will pay off in the next coming years especially when a lot of investors are going into blockchain and tokenization.”
    “With this license, we’re ready to once again break molds, set trends, and rewrite the rules,” said UnionBank Senior Vice President and Head of Emerging Technology Group Cathy Casas. “This is exactly what innovation is about—pushing boundaries, venturing into the unknown, courageously stepping into territories that are yet to be explored, and taking on challenges that others may not fully comprehend.”
    The license will also help strengthen the Bank’s focus on customer-centricity, especially its ability to provide innovative solutions that enhance its clients’ overall financial well-being. In addition, the Bank’s expanded offerings through the license can provide clients with more comprehensive financial experiences, covering a broader range of financial services powered by blockchain, such as lending, cross-border payments, and other smart contract-based financial products.
    “This is a call for laser focus on the target only we see, and through the twists and turns and ups and downs of these avenues, we shall persist and persevere with our one North Star, which is to elevate lives and fulfill dreams,” said UnionBank Vice Chairman Dr. Justo A. Ortiz.
    The VASP license positions the Bank as a responsible player in the digital finance ecosystem, particularly in terms of surveillance and compliance. UnionBank’s focus on surveillance is not merely a regulatory requirement but a commitment to maintaining the trust of clients and of the industry as robust surveillance mechanisms help ensure the legitimacy of virtual assets and prevent illicit activities. The Bank’s dedication to complying with regulatory standards and working proactively with the BSP to shape the future of digital finance in the Philippines can serve as an example for others to emulate.
    “This achievement underscores the importance of doing something that’s never been done before, not being reckless, and most of all, daring to be bold, not being afraid to go there,” said UnionBank Executive Vice President and Chief Technology and Operations Officer Dennis Omila highlighting that the Bank’s obtaining a license is relevant for the entire banking industry.
    Through the milestone, UnionBank sets new standards and redefines what it means to be a bank in the digital age through collaborations and partnerships that define progress for a brighter future. The initiative aligns with the Bank’s “Tech-Up Pilipinas” advocacy, aimed at advancing digital literacy among Filipinos and enhancing financial inclusion and technological empowerment in the country.
 
 

Read more...

UnionBank first bank to run AWS Local Zones

Union Bank of the Philippines (UnionBank) has proven its reputation as a trailblazer in the industry anew by being the first bank in the Philippines to run workloads on Amazon Web Services Inc. (AWS) AWS Local Zones location in Manila, Philippines. 
    “This is a huge development in the AWS expansion in the Asian region and addresses response time issues for mission critical applications that require low latency. This in turn allows service providers like us to deliver digital solutions to our customers much better,” said Ryan Acosta, UnionBank’s Head for Infrastructure and Service Management.
    As the Philippines’ leading bank of innovation, UnionBank has been investing heavily in cloud-enabled solutions as part of its continuous efforts to serve customers better. In fact, UnionBank was the first major bank in the Philippines to be fully hosted in the cloud, completing its migration to AWS in 2022 and two weeks ahead of schedule.
    The move to the cloud resulted in numerous improvements for the Bank’s various day-to-day operations, including reduced IT costs , the elimination of downtime and system lags, and improved backup and disaster recovery capabilities, just to name a few, in turn providing better services to customers. 
    And now, with the recent launch of AWS Local Zones in the country, UnionBank further solidifies its first mover status in the Philippine banking space while enabling more meaningful and relevant customer experiences. This is in line with the Bank’s ‘    Tech-Up’ Pilipinas advocacy that aims to empower Filipinos and contribute to nation building through technology, innovation, and co-creation.
    “True to its core value of innovation, UnionBank has once again become the first mover in this space, leveraging cloud technology to bring even more value to our customers,” said Dennis Omila, UnionBank’s Chief Technology and Operations Officer. “We have always been proud of being a company of industry firsts, and I’m confident that with the AWS Local Zones location in Manila, we will be able to do even more.”

 

Read more...

CA junks appeal of bank execs in falsification raps; get 3-years

P3.6-M transferred to other accounts 

By Benjamin Pulta   

DAGUPAN CITY --  The Court of Appeals (CA), in a decision dated Aug. 7, has affirmed the conviction and sentence of imprisonment for up to three years imposed by a Dagupan court on officials of a cash-strapped rural bank after the officials were found guilty of falsification for transferring P3.6 million of a depositor's account into 15 fictitious accounts without authorization.
    In its resolution dated Aug. 7, the CA affirmed the ruling of the Dagupan Regional Trial Court Branch 44 against former bank manager Lydia Cruz and bookkeeper Sheila Geslani of the Rural Bank of Sta. Barbara Inc. (RBSI).
    The bank was liquidated on 2008 after regulators determined that it could neither be rehabilitated nor resume its business with safety.
    The two bank officers were charged by the Philippine Depositary Insurance Corp. (PDIC) for falsification after it was found during the PDIC's liquidation investigation that the two split a P3.6 million deposit of an account holder into 15 separate fictitious accounts in 2005.
The scheme was uncovered in 2008 after the PDIC took over the bank and the depositor, Manuel Concepcion, inquired from PDIC about the status of his four accounts.
    It was discovered that one of the four accounts with P3.612 million is no longer part of the outstanding deposit liability of PDIC as it had been split into 15 time deposit accounts of around P240,000 each under names of different individuals.
    Concepcion passed away before recovering the amount and had not informed authorities whether he authorized the splitting of the funds. Depositors named in the 15 accounts, however, denied ownership of the accounts put up in their names.
    Investigators said the two bank officers "falsified the said documents by making it appear that the creation of the said accounts was a regular banking transaction."
    For their part, the two claimed the splitting of the amounts had been authorized by the bank's board of directors and Concepcion himself before his death and that the supposed account holders were his relatives.
    The CA upheld the lower court's ruling that the two bank executives should be held liable "as the bank's bookkeeper and manager, respectively, (and) were tasked to scrutinize, verify, check and evaluate all banking transactions."
    "The bulk of Geslani and Cruz's arguments are mere rehash of their previous assertions, which have already been addressed in this court's decision dated Nov. 25, 2022. Another round of discussion on the rehashed arguments would only result in endless academic discussions. The court, thus, finds no basis in delving anew into the said matters," the court said in junking the appeal of the two and affirming their conviction. -- PNA

 

Read more...

Depositors of closed bank to get insurance payments

By Vince Jacob Visaya

CAUAYAN CITY, Isabela -- The Philippine Deposit Insurance Corp. (PDIC) said that it has started paying through Postal Money Orders (PMOs) depositors of the closed United Consumers Rural Bank Inc. in Isabela.
    Eligible for outright payment of deposit insurance are individual depositors with valid deposit balances of P100,000 and below who have no outstanding loans with the closed bank and have complete mailing addresses in the bank records or updated information.
    PMOs amounting to P15,000 and below may be encashed either with the local post office or with the nearest branch of the Land Bank of the Philippines.
    Meanwhile, money orders above P15,000 may be deposited to the depositor's account in any local bank, the PDIC said.
United Consumers Rural Bank Inc. was ordered closed by virtue of Monetary Board Resolution 930.B dated July 20, 2023.
    It is a single-unit rural bank located on National Highway Centro, Santa Rosa, Aurora, Isabela.

 

Read more...

PDIC to refund depositors of closed Pangasinan bank

 Up to P500-K per depositor 

By Liwayway Yparraguirre

DAGUPAN CITY – The Philippine Deposit Insurance Corp. (PDIC) urged eligible depositors of the closed Bangko Pangasinan-A Rural Bank, Inc. to submit to them their updated mailing address so it could mail them their check refunds.
    Jose Villaret Jr., PDIC Vice President for Corporate Affairs Group, in an interview, said depositors with deposit balances of P100,000 and below may accomplish and submit their Mailing Address Update Forms (MAUF), either electronically or physically, through the drop box at the premises of the branch where their deposit account is.
    The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) prohibited Bangko Pangasinan-A Rural Bank from doing business in the Philippines through a resolution dated June 1, 2023, which also directed the PDIC, as the receiver, to proceed with the takeover and liquidation of the bank.
    The PDIC took over the bank on June 2, 2023.
    The Bangko Pangasinan, a rural bank’s main office is in Mayombo, Dagupan City.
    It has branches in Alaminos City, Burgos, Aguilar, and Bolinao, all in the province of Pangasinan.
    The PDIC assured depositors that all valid deposits and claims would be paid up to the maximum deposit insurance coverage of P500,000 per depositor.
    “Kapag nagsara ang isang bank, doon lang makikita ng PDIC ang records niya (When the bank closes, that is the only time the PDIC could check its records). We are asking all the depositors to send an updated mailing address, it can be electronic or physical, so we know where to send your check if your balance is P100,000 or less. We plan to send the checks within the month. We have a team now in Pangasinan to process all the records, then process the checks, which we hope to send within the month,” Villaret said.
    He also said they would be calling for a depositors and borrowers’ meeting, which will be done per branch to meet with bank depositors.
    “We will announce the exact dates and venues for depositors' and borrowers' meetings. We need to check the records of the bank so we would know their balances. For the depositors, we will explain to them the process, what they need to prepare, and when the planned pay-out is,” he added.
    Villaret said pay-out or claims settlement would be done in two ways.
“    First priority is the depositors with P100,000 and below deposit balance and have no loan in the bank. Update us on your address so that we can send you your check. They don’t have to go to the bank,” he said.
    He said they would announce the date of the meeting of all depositors and borrowers toward the end of June.
    “We will be calling for the claims settlement for depositors who have balances of greater than P100,000 but below P500,000. We will be asking you to file a claim. Because of the amount of their deposit, we need to see them in person. We will be scheduling pay-outs in July,” he said.
    Villaret said that even if their depository bank was closed, borrowers have to pay their loans.
    He is encouraging the borrowers, nonetheless, to avail of the PDIC Closed Bank Loan Incentive Program or CLIP.
    The CLIP is an enhanced loan incentive program offered by the PDIC that aims to make it easier for borrowers of closed banks to pay off their outstanding loans, help them regain their good credit standing, recover their mortgaged assets, and gain peace of mind. – PNA

Read more...

More Beneco gripes / 'Solid North Alliance' new officers take oath

BEHIND THE SCENES

Alfred P. Dizon

BAGUIO CITY – The Northern Philippine Times was about to go to press when we got word that many items submitted to the Benguet Electric Cooperative  for inclusion in the agenda set for different dates this coming June during general assemblies in Baguio and Benguet were not included.
    Beneco member-consumer-owners (MCOS) were asking if it was the interim board, a secretary or others who did not include their proposed topics to be discussed in the agenda.      
    One such topic they wanted for inclusion in the agenda was the issue of power rates being negotiated with Team Energy.     This was a sensitive topic, they said, since it would affect Beneco power consumers in the long run and it should not be the National Electrification Agency which should negotiate in behalf of Beneco.
    This, considering Beneco management, under general manager engineer Melchor Licoben and the Magnificent 7 directors were already negotiating with Team Energy and getting favorable results when the first “takeover” of Beneco was attempted months ago.
    Anyway, back to the present, MCOs were saying other topics in the agenda not included in the published notices should be discussed during the open forum. They feared they could be ruled out of order.
    They have a point. Publishing the submitted topics not included in earlier published items would show transparency. The MCOs are awaiting action of the interim board on this. Would they be up to the task? More on this later. The presses are already rolling.
   ***
New officers of the Northern Luzon Alliance, a group of congressmen mostly belonging to the tobacco-producing provinces, took their oath of office led by President Ferdinand Marcos R. Marcos Jr. Tuesday in Malacanang.
    Marcos' son, Ilocos Norte 1st District Rep. Ferdinand Alexander "Sandro" Marcos III, serves as NLA’s honorary chairperson.
    The NLA's new officers include Ilocos Norte 2nd District Representative Angelo Marcos Barba (president), Mountain Province Rep. Maximo Dalog Jr. (executive vice president), Pangasinan 1st District Rep. Arthur Celeste, (vice president for Region 1), Isabela 1st District Rep. Antonio Albano (vice president for Region 2), CAR and Kalinga Rep. Allen Jesse Mangaoang (vice president) and ABONO Party-list Rep. Robert Raymund Estrella (vice president).
    Other NLA officials are La Union 1st District Rep. Franciso Paolo Ortega V (secretary), Ilocos Sur 2nd District Rep. Kristine Singson-Meehan (treasurer), and Isabela 4th District Rep. Joseph Tan (auditor).
   ***
Marcos dominated the May 9, 2022 presidential race in the "Solid North," a long-running stronghold of his family. 
President Ferdinand R. Marcos Jr. on Tuesday urged lawmakers in his bailiwick, the so-called "Solid North," to strengthen the regional bloc's alliance and maintain its relevance for the benefit of the country.
    Marcos, in his speech, acknowledged the Northern Luzon lawmakers' solidarity saying this was evident even during the time of his father, the late president Ferdinand E. Marcos Sr., considered the patriarch of Ilocanos and the region’s politicians.
    He, however, acknowledged that the NLA had to endure "difficult times" when the group was considered "politically irrelevant."
    Despite this, the President expressed appreciation for the alliance's strong commitment to remain united and stay in power, even after the Marcoses fell out of favor politically for decades with the subsequent administrations that followed.
   ***
“Those times that we went through that, the Ilocano bloc remained solid. And the result is that we are now here celebrating the taking of the oath of new officers of the Northern Alliance here in the Palace,” the government-run Philippine News Agency quoted Marcos as saying.
    “Kaya’t let us take that as our lesson that really what has kept us going, what has kept us strong, and what has kept us relevant in national politics,” he added.
    Marcos echoed observations that Ilocanos are "overrepresented" in government and in politics because Filipinos appreciate them for being "good workers who bring value to government service."
    He encouraged the solons from the "Solid North" to keep going, assuring them that they will get the support they need from his administration.
    “And there is maybe a point to that, but the reason that is – is because we help each other because we stay solid," Marcos said.
    “And that has kept us afloat through all the lean years kung tawagin (that we call), through all the lean years. And as I said, now the solidarity and the strength of the Ilocano bloc has remained and it has served us well. So let us keep it going. And now instead only fighting up, may katulong na kayo dito sa taas (you now have our support),” he added.
   ***
This corner is wondering if the rest of Cordillera congressional Representatives are members of the NLA. Just asking, but over the years, it was members of political parties aligned with the present administration that got the goodies in terms of millions or billions of pesos worth of funding for projects.
    Some constituents have often complained they didn’t experience the moolah trickling for the betterment of their lives due to mismanagement or corruption but that is another story.
     

Read more...

BSP sets first digital payment program for Cordillera farmers

BAGUIO CITY — The Bangko Sentral ng Pilipinas (BSP) on Tuesday launched its first digital payment and banking program for Cordillera farmers as it expanded its PalengQR project in the region.
    BSP Deputy Governor Bernadette Romulo Puyat urged Cordillera farmers to open bank accounts and generate their “financial footprints,” using digital technology to ease their day-to-day transactions.
    “Based on the BSP Financial Inclusion Survey of 2021, 73 percent of our farmers [throughout the country] have no accounts. That’s quite huge, which is why we are starting in the Cordillera,” said Puyat, an economist and Tourism secretary during the Duterte administration, at the project launch here.
    Last year, the value of Cordillera crops reached P14 billion due to vegetable gardens in Benguet and border towns of Ifugao and Mountain Province, which supply 80 percent of Manila’s daily vegetable requirements. Benguet generates between 1 million and 1.5 million kilos of cabbage, cauliflower, carrots, broccoli, lettuce, potatoes and beans daily.
    Puyat led the signing of a memorandum of understanding between BSP North Luzon director Noel Malicban and Cameron Odsey, Cordillera director of the Dept. of Agriculture, introducing PalengQR to highland farms.
Paleng QR promotes cashless payments in economic activities like the public market or jeepney rides to develop a “digital payments ecosystem” for grassroots businesses.
    BSP Governor Felipe Medalla first launched it in Baguio in August last year.
    But because half of Baguio’s nearly 4,000 market vendors now accept digital payments, Puyat said it was logical for their farm suppliers to transact digitally with the vendors.
    Puyat said the BSP would need to determine why farmers resist the concept of banking, having chaired the Agricultural Credit Policy Council until 2013.
    That includes reviewing how cash-based transactions endured without the help of banks, a phenomenon she encountered while serving as agriculture undersecretary under former President Gloria Macapagal Arroyo and the late President Benigno Aquino III from 2007 to 2018, she said.
    Puyat said BSP would also study agricultural cooperatives’ role as de facto banks and fund managers for many farmers.
    In her 12-year stint at DA, the BSP official said farmers have been reluctant about tapping bank services because the process was too laborious and required too many documents.
    Puyat said farmers felt bankers were “unable to understand them.”
    The BSP baseline report from the 2021 Countryside Bank Survey saw agricultural lending dive fundamentally because of the lockdowns imposed at the height of the coronavirus pandemic, which “diminished clients’ capacity to earn, and discontinued or slowed down farming activities and businesses.”
    According to the report, other challenges encountered by banks in 2021 that further weakened the bankability of the agriculture sector were “increased credit risks due to natural calamities, pests and diseases, fluctuating prices of produce, outdated farming techniques and lack of viable projects as most farmlands are fragmented or in far-flung areas with poor road access and security conditions, [and] crops do not have assured markets or buyers.”
    Millennials who are now engaged in agriculture can influence older farmers to embrace banking services, Odsey said.
    However, the DA has yet to determine how many young farmers have taken over highland gardens.
    The average farmer today is in their mid-50s, he said.
 

Read more...

Senate, CDA urged: Probe Cordillera transport coop

‘Malversation, mismanagement by president’ 

By Jordan Habbiling

BAGUIO CITY – The City council urged the Senate and the Cooperative Development Authority  to investigate the leadership and management crises currently experienced by the Cordillera Basic Sectors Transport Cooperative over allegations of mismanagement and malversation of funds by CBSTC leadership.
    The Senate was urged by the city government’s legislative body in a resolution last week to probe the issue, citing its lack of contempt power. 
    The CDA-Cordillera Administrative Region (CDA-CAR) was also asked by the council to resolve the leadership tussle along with other internal and management issues being experienced by the CBSTC.
    This, after members of CBSTC sought the help of the city council regarding the current state of their transport cooperative, accusing incumbent CBSTC chairperson Jude Wal of mismanagement and malversation. 
    The city council was informed there were now two sets of officers in the transport cooperative as a result of faction.
    CBSTC member Rolando Yambot claimed he was elected as new CBSTC chairperson during their general assembly last Jan. 14.
    Amid the escalating leadership impasse and mounting accusations against Wal, the city council summoned another forum, inviting all concerned parties to attend.
    For the third time, Wal failed to attend the council forum.
    During the forum, CDA-CAR regional director Marieta Hwang disclosed their office could not determine at the moment legitimate officers since both groups had allegedly committed violations in conduct of their respective elections.
    Hwang added her office attempted to conduct a “unified election” initially agreed to by both parties.
    But last March 6, Wal’s group informed CDA-CAR of their refusal to participate in said election.
    The matter would be referred to the CDA central office for adjudication, she said.
    With no final resolution yet by CDA on legitimate CBSTC officers, LandBank representative Julio Pagat said all withdrawals were suspended.
    He said both groups would not be honored by the bank at the moment pending resolution of the leadership crisis.
    Pagat confirmed that CBSTC under Wal’s leadership had been delayed in paying its loan amortization and that remedial measures such as restructuring and extending the term of the loan may be undertaken to avoid foreclosure.
    However, should the transport cooperative continue to fail in settling its loan obligation despite remedial measures applied, the only recourse would be foreclosure, Pagat added. 
 

Read more...

Cagayan co-op gets funds for bio-hogs facility

By Leander C. Domingo

GONZAGA, Cagayan -- A cooperative in this town received a P5.5 million grant for its biosecure facility under the Dept. of Agriculture (DA) Region 2 (Cagayan Valley) expanded swine repopulation project.
    DA Region 2 Executive Director Narciso Edillo said the swine clustering project awarded to Mount Cagua Agrarian Cooperative (MCAC) in Barangay Santa Clara here is a component under Integrated National Swine Production Initiatives for Recovery and Expansion (Inspire).
    Edillo said the DA's swine repopulation program aims to institute biosecurity and disease control measures through a strong collaboration between and among the DA, its relevant agencies, concerned local government units (LGUs), and stakeholders.
    He also hopes that the Inspire program project will also provide funds for the construction of modern facilities with climate-controlled systems and biosecurity, as well as for the provision and purchase of feeds and piglets.
    Dr. Butch Busania, DA Region 2 technical director for Operation and Extension, said there is a need for strong and sustained support of backyard and commercial raisers, LGUs, and the private sector to revive the industry.
    "First, by effectively controlling the ASF (African swine fever) and preventing its spread via strict biosecurity measures, and secondly, by embarking on a massive swine repopulation program," he said.
    MCAC president Melchor Bulliig said the cooperative which has been into free-range chicken farming is ready for large-scale production of hogs, which will also be a source of additional income to cope with the rising prices of fertilizers and the cost of production in rice farming.
    "We are glad that the Department of Agriculture has come up with this strategic plan to revive the swine industry and to help us farmers. Rest assured we will work alongside the agency," Bulliig said.

Read more...

Transport coop members fear bankruptcy, hit chief

By Jordan G. Habbiling

BAGUIO CITY -- Members of the Cordillera Basic Sectors Transport Cooperative (CBSTC) sought the help of the Baguio City Council for the second time regarding their problems besetting their cooperative.
    “Tyrannical and unilateral management, lack of transparency, illegal collection of fees from members, piling up financial obligations, missing money from the cooperative’s coffers, inaccessible cash flow records, and poor maintenance of jeepney units” were among “fatal” problems identified by CBSTC members. 
In their letter addressed to the city council, the members accused Jude Wal, incumbent CBSTC chairperson, of “illegal management.”
    The members claimed Wal had incurred debts in the name of the cooperative from a third party in the “staggering” amount of P18.7 million.
    Wal also allegedly refused to pay the members their monetary shares in the government’s Libreng Sakay Program and converted these supposed monetary shares worth P21 million into share capital without consulting the members properly.
    According to the letter, questionable fees had also been “illegally” collected from the members such as membership fees, share capital contributions, and equities.
    He had also allegedly defied the cooperative’s by-laws by “illegally” conducting an election of the Board of Directors on December 28, 2022 that was only participated by members “not critical of his leadership” after having failed to conduct the said election two consecutive times (2018-2020 and 2020-2022). 
    Members who were critical of his leadership have been kicked out of the cooperative, the letter claimed.
    The letter also enumerated other “illegal” activities and transactions allegedly undertaken by their Chair.
In its effort to help thresh out the issues, the city council had summoned the two camps to its regular session last February 27.
    However, Wal did not attend the forum due to an “earlier equally important activity” and instead sent a letter requesting the city council to dismiss these complaints and allow the CDA to resolve the matter.
    During the forum, CBSTC member Rolando Yambot told the city council that these problems, if unresolved, might lead to the cooperative’s “bankruptcy.” 
    “A lot of people might be affected with this including those people who consolidated with us in 2018,” Yambot said.
    Yambot added he had been elected as new CBSTC chairperson during the cooperative’s general assembly last Jan. 14.
    He said, in his capacity as new Chair, he had written to the Land Bank of the Philippines to freeze the cooperative’s funds in order to prevent any possible “illegal” withdrawal.
    The city council members expressed concern on the persisting problems of the cooperative, saying these internal management issues could affect the availability of transportation along routes serviced by the cooperative.
    The CBSTC is servicing routes along Aurora Hill, Trancoville, and Dominican Hill.
Councilor Michael Lawana said, although arising from management issues, these problems are a matter of “public concern.”
    “Problems in the management affect the operators, the drivers, and others [the public]. Baka pati ‘yung road safetiness ng mga sasakyan ay medyo na sa-sacrifice because of problems caused by the bosses,” Lawana said.
    The city council earlier urged the Cooperative and Development Authority (CDA) to hasten its investigation on the alleged violations of Wal and the BODs of the cooperative following numerous complaints of the members.
Yambot claimed the CDA had not made any decision yet to address their complaints against Wal and had not made any move to acknowledge or honor him as the newly elected chairperson of the cooperative. 
    A letter written by CDA-CAR Regional Director Marieta Hwang dated February 20, 2023 revealed that a technical working group had been created to help resolve the leadership tussle between Wal and Yambot.
    Meanwhile, Councilor Jose Molintas said the city council, although without a contempt power, may declare Wal a persona non grata if he continues to refuse the city council’s invitation.
    Wal also did not appear during the council forum on Oct. 24, 2022 despite the invitation sent to him by the council. 
    “We will have to reset this one discussion, ask him to come, and answer the complaints. If he does not come, then we will take the appropriate action against him,” Molintas said. 
    The city council scheduled another forum on Monday during its regular session to further talk about the issue, inviting both camps and representatives from the CDA, Land Transportation and Franchising Board-Cordillera Administrative Division, and Landbank of the Philippines.

Read more...

N. Ecija gov’t grants credit to small coops

By Marilyn Galang

CABANATUAN CITY, Nueva Ecija – The provincial government has provided credit to 20 small cooperatives here in a bid to help them boost their businesses.
    Florante Serrano, project development officer 3 of the Provincial Cooperative Entrepreneurship and Development Office (PCEDO), said Monday that the provincial government granted a P50,000 credit to each cooperative without interest.
    The loan is renewable and be paid for 10 months or P5,000 per month.
    Upon full payment, Serrano said the program beneficiaries can borrow up to P100,000 under the same scheme.
    “Isa po sa programa ng aming tanggapan ay ang pagbibigay ng livelihood program sa ating promising cooperative upang sila ay matulungan na kahit medyo bago pala sila ay mabigyan ng puhunan upang makapag-put up ng isang negosyo (This is one of the programs of our office to provide livelihood program to our promising cooperatives to help them so that even if they are new, they can have financial capital to put up a business),” he said in a local news program.
    Omar Ortiz, chair of the Nueva Ecija Swine Research Agriculture Cooperative, said they will use the loan to help their members revive their livelihood.
    On the other hand, Arwin Bonus, a member of the board of directors of the Santor Bongabon Cooperative, said they will use the loan as capital for planting rice and corn. -- PNA
 

Read more...

LTFRB: Jeepneys, UV Express can ply roads only until June 30

By Romina Cabrera

Operators of traditional jeepneys, UV Express and multicabs will no longer be allowed to operate after June 30, unless they join a cooperative or a corporation, the Land Transportation Franchising and Regulatory Board (LTFRB) announced Wednesday.
    The LTFRB on Monday issued a memorandum extending the franchises of traditional jeepneys to June 30 instead of the March 31 deadline.
    The LTFRB issued the memorandum amid the calls of several transport groups to stop the phaseout of traditional jeepneys.
    In line with the government’s Public Utility Vehicle Modernization Program (PUVMP), the LTFRB said operators who fail to meet the consolidation requirement would have their franchises or certificates of public convenience (CPC) revoked.
    “The CPC of the operators who fail to join the existing consolidated entity after June 30 will be reverted to the state,” the memorandum read.
    The franchises of PUV operators who fail to join a cooperative or corporation will be automatically rewarded to the existing consolidated entity operating on the same route, according to the LTFRB.
    However, operators who meet the June 30 deadline will have their provisional authority to operate until Dec. 31.
    The board said the implementation of the PUV modernization program has long been delayed to help operators cope with the adverse impact of the pandemic and soaring cost of fuel.
    Transport workers are opposing the program, saying it is anti-poor and promotes monopoly as it requires the acquisition of multimillion-peso modern jeepneys and route consolidation.
    The board said affected operators may still avail themselves of the government’s social intervention initiatives.
    “There will be mediation procedures in case of rejection in an existing consolidated entity, be it a cooperative or a corporation,” the LTFRB said.
 
 

Read more...

Gov’t, private agencies boost P’sinan farmers to agri-entrep

By Hilda Austria 

BAYAMBANG, Pangasinan – Members of the Northern Bayambang Multipurpose Cooperative (NBMPC), a group of farmers who mostly are agrarian reform beneficiaries in this town, are excited about their new venture with Jollibee Group Foundation with the assistance of the Department of Agrarian Reform (DAR) and the local government unit (LGU) as they go into entrepreneurship.
    Composed of 191 members at present from the initial 16 members when the cooperative started in 2011, the farmers are into planting rice, corn, onion and other vegetables.
    “We have joined a federation of cooperatives who are into consolidating products to sell through collective marketing,” Jesus Lavarias, manager of the NBMPC, said in an interview on Friday.
    Through the federation, the group was able to connect with the Jollibee Group Foundation, Inc., which is the social development arm of Jollibee Foods Corporation that taps communities for projects with social impact and results.
    Lavarias said the partnership began in 2018, wherein the foundation provided them with agro-entrepreneurship training.
    “Tinuruan kami ng tamang pagnenegosyo (They taught us how to do business),” he said.
    The foundation, according to Lavarias, was interested in acquiring white onions from the farmers' group based on their standard of food quality and safety.
    “Tinuruan din kami kung paano makukuha yong size na kailangan nila (They also taught us how to achieve the size requirement),” he said.
    He added that they were also taught to use organic fertilizer in their production for food safety purposes.
    In 2019, their product was approved by the foundation and this year they are ready to provide a portion of the company’s white onion requirement.
    “Dati ayaw naming masyado sa white onion kasi malalaki pero murang binibili sa amin pagdating sa merkado pero ngayon mayroon na kaming direct buyer (Before, we usually do not like to plant white onion because of its big size and they buy it from us at a cheaper price in the market but now we have a direct buyer),” Lavarias said.
    He said the company required 40,000 kilos of white onion per cropping or 50 percent of their produce in a one-hectare land.
    He added they have given a supply plan and module to follow in their agreement with the foundation.
    “Walang expiration yong agreement namin pero magbabase sila sa performance namin kung nakakasunod kami sa standard ng produkto (There is no expiration in our agreement as it will be based on our performance in following the standard of the product),” he said.
    Manuel Chua, NBMPC chairman, said they are hopeful that this project would help their members in the cooperative.
    “This will be a big help to our cooperative,” he said.
    Lavarias said they were negatively affected by the pest (harabas) in the recent harvests.
    “From our PHP2 million capital, we are down to PHP96,000 because we cannot force our members to pay their loan from the cooperative due to the recent losses,” he said.
    He added that they have also invested a lot in farm inputs including fertilizer that have increased in price by almost 200 percent.
Nat'l, local gov't's role
    Lavarias said the different national government agencies such as the DAR as well as LGUs have been helpful with the provision of fertilizers and other livelihood programs as well as farm mechanization.
    The cooperative has received tractor and water pumps, among others, from DAR.
    The NBMPC is one of the beneficiaries of DAR’s Sustainable and Resilient Agrarian Reform Communities (SuRe ARCs) project this year.
    The DAR is set to provide a greenhouse technology and tissue culture technology in partnership with the Pangasinan State University-Sta. Maria, which has the technical capacity to implement the tissue culture project.
    “The project will help us maintain the quality of the white onion we produce. We are grateful to DAR Secretary Conrado Estrella III and to all the staff of DAR and to Jollibee Group Foundation for their support and partnership,” Lavarias said. -- PNA

Read more...