• Co-ops' CISA Compliance Good for Economy

    Credit Information Corporation CEO Jaime P. Garchitorena lauded the release of the Cooperative Development Authority’s Memorandum Circular 2019-01, as: “a significant step in achieving many of the inclusive lending targets of the National Government.”   Asked why co-ops need to Read More
  • CDA Tells Co-ops to Submit Credit Data to CIC

    The Cooperative Development Authority (CDA) has confirmed that co-ops must ‘establish, maintain, and submit credit data’ of members to the Credit Information Corporation (CIC).   Said government agency issued its first memorandum circular for the year, Memorandum Circular 01-2019, named Read More
  • All China Co-op Leaders Visit NATCCO

    QUEZON CITY – Delegates from the All China Federation of Supply and Marketing Cooperatives (ACFSMC) visited the NATCCO Network headquarters on September 18 to exchange information, learn about the Philippine cooperative sector, and explore business linkages.   The Chinese delegation Read More
  • Sector Honors 3 Tagum Co-op Leaders

    DAVAO CITY -- Three leaders of Tagum Cooperative were honored at the 14th National Cooperative Summit held at the SMX Convention City here, before some 3,000 co-op leaders from all over the country.   Mr. ANTONIO C. ARAÑAS, MPA has served Read More
  • Lezo MPC's Champion, Aklan's Pride

    AKLAN – She served the National and Local Government as a dedicated, hardworking Municipal Agriculturist Extension Worker of the Municipality of Lezo for 42 years, before she retired in 2010.  And Emelinda Revestir-de la Cruz has proven herself to be Read More
  • COOP-NATCCO Partylist guns for 3 seats

    All cooperative members, leaders, staff, management and stakeholders are reminded to support COOP-NATCCO Partylist (CNPL) in the upcoming 2019 Elections.  Support is through – voting, campaigning, or providing finances and logistics.   The CNPL, since 1998, has endeavored to protect Read More
  • Ravanera, Chinese Counterpart Sign Agreement

    The Cooperative Development Authority (CDA) represented by Chairperson Orlando R. Ravanera and the Ministry of Agriculture and Rural Affairs (MARA) of the People's Republic of China represented by Han Changfu, signed a Memorandum of Agreement (MOU) for the Strengthening of Read More
  • Financial Pillar Shows Challenges & Hopes of Co-ops

    DAVAO CITY – One of the highlights of the 14th National Cooperative Summit was the Financial Pillar Presentation.  The Financial Pillar is considered to be the most “liquid” sector of the cooperative, delving into financial services.   The Finance Pillar Read More
  • How Lamac MPC Engages Youth

    DAVAO CITY - Co-op Youth Leader Justine Limocon of Lamac Multi-Purpose Cooperative in Cebu Province, spoke at the Cooperative Summit before more than 3,000 co-op leaders from all over the country, urging them to engage the youth in their cooperatives.   Read More
  • NATCCO GA on April 26-28 in Iloilo City

    ILOILO CITY – Representatives of member cooperatives of the NATCCO Network will converge in Iloilo City on April 26-28 for the 17th Coop Leaders Congress and the 42nd General Assembly.  Venue is the Grand Xing Imperial Hotel.   This year’s Read More
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CDA Releases More Detailed Social Audit Tool

The Cooperative Development Authority (CDA) has released its first Memorandum Circular for the year: “The Revised Guidelines on Social Audit of Cooperatives.”
 
Social Audit is designed by the CDA as “the process whereby a cooperative can account for its social performance, report on and improve that performance. It assesses the social impact and ethical performance of the cooperative in relation to its vision, mission, goals, and Code of Social Responsibility.”
 
The upgraded Social Audit Tool is the result of consultations with leaders from select small, medium, large and billionaire cooperatives, co-op unions and federations, and the Philippine Cooperative Center beginning in November 2017.
 
According to the Cooperative Development Authority’s Cooperative Research Dept. Head Lissa Santos, the new Tool "is more detailed and specific.  Co-ops must detail their social activity, name the beneficiaries, and even indicate how much funds were used."
  
Asked why the Tool was revised, Santos said: “We know very well that the Dept. of Finance (DOF) attempted to repeal the tax exemptions of cooperatives.  Congress, thru the Co-op Bloc Representatives, justified why co-ops deserve tax exemptions, saying that co-ops contribute to social upliftment and community development.”
 
But the DOF asked for statistics or figures – to prove whether co-operatives indeed have a social impact in their communities.  The CDA could not supply any.
 
“That was when we decided to revise the Tool.  Unless we have solid data, the DOF will think the contributions of co-ops to development are just hearsay” Santos said.
 
The new Tool shall be used by co-ops for their 2018 Social Performance, to be submitted in 2019.
 
Santos also cited some co-ops that donate money (usually from the Community Development Fund) to Foundations or NGOs that have social projects. But Santos clarified that “that is not the activity of the co-op.  It is the NGOs’ activity.”
 
The CDA is currently working on the second part of the Tool, which is the “Impact Assessment.”  It will be released by the end of 2018.
Social Audit validates the support of the cooperative to the 7th cooperative principles, i.e. the “Concern for Community” and determines whether the cooperative work for the community’s sustainable development through policies approved by their members.
 

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