Co-ops Eye Filipino Financials

This report, dated May 8th, is written by Edison D. Ong for the Manila Bulletin Online.

Zoili Jesus dela Cruz III, president and CEO of Infoserve - a Filipino banking software company - boldly stated that "cooperatives are more stable than banks". One reason why he states this is that "management’s accountability to cooperative members is taken seriously".

High praise indeed.

Financial cooperatives are more oriented toward the rural and small business sectors in the Philippines. They should be able to reach out also to the urban markets, making themselves more attractive to both the individual person and businesses alike. Distributists in that country - and throughout Asia - should be encouraged by such positive news about financial co-ops.