Loren commends CFI Cooperative

CEBU - Senator Loren Legarda yesterday commended the Cebu Court of First Instance Cooperative for the considerable gains it has achieved in its 38 years of existence.

Legarda, chairwoman of the Senate committee on economic affairs, also called the CFI a role model and a continuing inspiration in the cooperative movement.

“I commend the men and women behind the formidable institution who continue to uplift the quality of life of thousands of its members, and enable them to be independent, productive and self-reliant,” Legarda said.

Legarda was guest of honor in the inauguration of the CFI’s new building in Capitol Compound in Cebu City the other day.

“I warmly congratulate the Cebu CFI Community Cooperative in the inauguration of its new building… The thirty-eight years of the cooperative’s existence is a testament that it has been and continues to be a powerful vehicle in providing economic opportunities in the countryside,” she said.

Legarda added she is confident CFI will live on as country’s inspiration in accelerating the cooperative movement and a leading partner in boosting livelihood opportunities, alleviating poverty and enhancing economic growth in the countryside.

In 1970, 29 employees of the Cebu Court of First Instance (now the Regional Trial Court) banded together to establish what would become the CFI Cooperative.

The members contributed P200 each in a “self-help” bid to wend their dependence from unscrupulous moneylenders. In 2002, the CFI Coop’s members swelled to more than ten thousands and its total assets then grew to more than half a billion pesos.

CFI has also earned a number of awards. The Ramon Aboitiz Foundation Inc. selected it as Outstanding Institution for 1999-2002 in its Second Triennial Awards.

“It is my fervent wish for Cebu CFI Community Cooperative to remain steadfast in the attainment of its noble objectives,” Legarda said, adding that she is ready to support the cooperative in its effort to advance cooperative movement, people empowerment and development. — Niña Chrismae G. Sumacot/BRP (THE FREEMAN)