The Bangko Sentral ng Pilipinas (BSP), in partnership with the Cooperative Development Authority (CDA), is spotlighting the impact of credit surety funds (CSFs) in improving micro, small, and medium enterprise (MSME) access to financing. Through its “Credit Surety Fund Spotlight Forum Series,” the BSP aims to encourage broader participation from cooperatives, banks, and local government units (LGUs) by showcasing successful CSF initiatives.
CSFs serve as collateral substitutes, allowing MSMEs to obtain bank loans even without traditional security. As of June 2025, 46 CSF cooperatives have been registered nationwide. These funds are backed by contributions from cooperatives, NGOs, LGUs, government financial institutions, and donors.
At the series’ kickoff event on 3 June, the BSP and CDA featured the Nueva Vizcaya Credit Surety Fund Cooperative (NVCSF), recognized as the “Most Outstanding CSF Cooperative” by the CDA in 2023 and 2024. Since its establishment in 2020, over P509 million in loans have been disbursed to NVCSF members.
BSP managing director Charina B. De Vera-Yap emphasized the importance of expanding and strengthening CSF cooperatives nationwide through collaboration and shared learning. CDA chairperson Alexander B. Raquepo added that CSFs serve as vital links between cooperatives, MSMEs, and formal lenders.
The BSP, which launched the CSF program in 2008, continues to lead its promotion and development, while the CDA oversees registration and supervision of CSF cooperatives.
