The 12 multipurpose cooperatives (MPCs) here in Antique province will assist the Department of Social Welfare and Development (DSWD) in conducting financial literacy training likewise to open their point of service machines or automated teller machines (ATM) during payouts for members of the Pantawid Pamilyang Pilipino Program (4Ps).
DSWD, represented by Regional Director Carmelo Nochete and 4Ps Division Chief Belen Gebusion, signed an agreement with officials of the MPCs of Barbaza, Belison, Bugasong, Dao, Hamtic, Libertad, Magdalena, Pandan, Patnongon, San Jose de Buenavista, and Valderrama and the Casay Credit Cooperative in a ceremony at the training center of the Antique National School Teachers and Employees Cooperative on Thursday.
In the agreement, cooperatives will provide lectures on financial literacy during family development sessions, and 4Ps members can also withdraw their cash grants from the MPC point-of-service machines for a minimal service fee of PHP15.
Nochete, in his message, said that with the help of cooperatives, 4Ps beneficiaries would learn how to avoid falling victim to loan sharks while gaining access to financial institutions.
“The knowledge gained by the 4Ps beneficiaries on managing their cash grants well could also help them address poverty,” he said.
Governor Rhodora Cadiao, in her message, said the 27,457 household members of the program can benefit from financial literacy lectures, especially since Antique is considered the “Cooperative capital of the Philippines.”
The province has two billionaire cooperatives, namely the Barbaza and Bugasong MPCs.
“The cooperatives are considered as the lifeline of the vulnerable families who are directly dependent on the 4Ps in the province,” she said.
Ria Mae Nualda, 4Ps Provincial Grievance Officer in Antique, in a separate interview, urged their members to join cooperatives to learn to save and avail of loans in times of emergency at a minimal interest.
“The 4Ps beneficiaries are usually charged 20 percent interest by loan sharks, but with the cooperatives, they could avail of a loan with only a regulated interest,” she said. (PNA)
