Calamba, Laguna─ The Institute of Cooperatives and Bio-Enterprise Development (ICOPED) together with the Cooperatives and Livelihood Development Department (CLDD) carried out a Credit Management Training Course on September 30, 2016 at the Calamba City Training Center, Plaza Mercado. The credit management course is a mandatory training for officers of cooperatives engaged in savings and credit with at least PHP 5,000,000 worth of deposit liabilities based on the latest audited financial statement (RA 9520, Philippine Cooperative Code of 2008). The training course includes the theory and practice of credit management in the cooperative, specifically─ concepts and principles of savings and credit, elements of credit/lending policy, and effective credit/lending process. It aimed to: (1) develop the participants’ foundation of credit management concepts; (2) enable the participants to understand what credit risk management is, what the lending objectives are, and how to measure credit risk.
Ms. Arminga B. Peria and Ms. Alicia R. Quicoy, University Researchers of ICOPED, served as resource persons for the training. There were 22 participants, of which most are coop officers. With the proper credit management, the coop can improve and control its credit policies that will result to increased net surplus, lower risks, and reduce credit costs thus, ensuring the sustainability of the organization. PM Luis