Cagayan de Oro has been the cradle of the co-operative movement in Mindanao. Several of country’s pioneering co-operative institutions have been founded and are currently based in the city. Throughout the years, they have played a crucial role in the city’s economic growth; promoting financial inclusivity to those who are marginalized and un-bankable.
As COVID-19 pandemic continues to test the Kagay-anon’s resilience, the co-operative movement also continues to be one of CdeO’s partner in forging solidarity among Kagay-anons during these difficult times.
In compliance with Republic Act 11469 or the “Bayanihan to Heal As One Act,” CdeO co-ops implemented the minimum thirty (30)-day grace period for the payment of all loans of their members falling due within the period of the General Community Quarantine, without incurring interest on interest, penalties, fees, or other charges. They also carry on with their operations, while implementing precautionary measures like social distancing, so they can still provide the products and services to their members.
Cash assistance, and food have also been distributed to their members helping them to cope with the implications of the ongoing community quarantine status. The workforce of co-operatives was not forgotten in this time of crisis. Most co-op staff continued to receive their regular pay despite the shortened work-day and work-from-home arrangements.
Apart from making financial services available to members, the co-operatives mobilized their resources to extend support to various communities in Cde.
Kagay-anon co-operatives are part of the global humanitarian effort to ease the burden on people, especially those who are most vulnerable. Although co-operatives are among those affected by the coronavirus pandemic, they continue to serve their members and respective communities at this time of great need.
Here are some of the initiatives done by the CdeO Co-ops to provide support to their members and communities: