Malou Guanzon-Apalisok
The moment Ms. Rowena “Tetay” Plantilla, CEO of the Federation of People’s Sustainable Development Cooperative FPSDC shared the video of a co-operative echelon trying to assure members they can’t be deterred even by the regulatory agency because the coop is “50 steps ahead,” a rain of comments flooded her timeline.
Coop-related shout outs usually merit polite attention but Tetay’s post last week was significant for the instantaneous and intense response of cooperative members from different regions.
Leaders and advocates in the sector had been waiting for the Cooperative Development Authority CDA Manila Extension office to enforce the Cease and Desist Orders issued against Nutri Wealth Multi-Purpose Cooperative.
Regulators had earlier investigated and censured this Manila-based coop for engaging in questionable businesses, notably in schemes that mimic pyramiding scams. (CDN, “A Can of Worms in the Coop Sector (February 27 & March 6, 2018)
Unknown to the regulatory agency, cooperative leaders in many parts of the country became vigilant and monitored the coop’s business operations to ascertain if it was compliant with the CDOs.
In Cebu, a leader told me a coffee shop supposedly owned by an OFW but under the name of Nutriwealth continued its operations near the south bus terminal in Cebu City.
Similar other reports were also gathered in Metro Manila and coop leaders were aghast to hear Nutriwealth didn’t take the CDOs seriously.
In fact, Tetay was receiving plenty of feedback from Nutriwealth members, many of whom were asking how they can get back their investments. She forwarded me screenshots of the conversations she had with the anxious members.
The reports eventually reached the CDA Board of Administrators who, I heard, was incensed by the lame performance of the MEO in running after Nutriwealth.
I heard that as a result, Atty. Eric Robles of the same office was ordered to probe officials involved in the Nutriwealth mess.
As this developed, it was reported last week that a “CoopHub” opened in Davao City prompting the CDA extension office in the area to raise a red flag warning the public not to engage with the dubious organization which was neither a coop nor a registered service-provider as claimed by some parties. Netizens commended CDA Davao regional director Elma Oguis for her vigilance.
Interestingly, one of those who commented on the prompt action of CDA Davao was Administrator Benjie Oliva who, in the course of the commentary about developments in CDA central office, practically accused a CDA top official for condoning if not outright conniving with Nutriwealth’s illegal activities.
How true are reports this top official greenlighted the coop to market overseas minus the approval of member-owners?
The Nutriwealth brouhaha explains why the country’s cooperative movement remains fragmented and lags behind other coop societies in the world.
Dubious organizations use the coop label as a tax shield and worse, as an instrument to dupe members of their hard-earned money.
That this is happening under the very noses of regulators is reprehensible and totally inexcusable.