Cebu CFI coop receives prestigious LBP Diamond Award

During its 54th Founding Anniversary held on 20 April 2024, the Cebu CFI Community Cooperative was honored with the 2023 Landbank Diamond Award for being the outstanding cooperative partner of Landbank of the Philippines for Central Visayas.

Landbank and CFI share a rich history in empowering communities since 1995. In his speech, Chairman Atty. Winston F. Garcia expressed that LBP has always been at the forefront of the progress and development of the cooperative. “Ours is not just a partnership; but a marriage sealed by 30 years of partnership,” said the Chairman.

The Diamond Award was presented by VP Allan R. Bisnar Head of Landbank Visayas Lending Group and VP Eulalio G. Lagapa, Jr., Head of Cebu South Lending Center, and was gratefully received by CFI Chairman Garcia along with the Board of Directors.

Founded in 1970, the Cebu CFI Community Cooperative was established by the late Judge Esperanza Garcia in response to the abusive lending practices of money lenders among the employees of Court of First Instance back then.

With an initial 29 members and a capital of P200, the cooperative sought to provide beneficial alternatives by offering loans to its members at significantly lower interest rates. CFI has now grown into a multi-billion cooperative with over 160,000 members and 16 billion in assets expanding its reach to government and private sector workers.

Today, CFI celebrates its 54th Founding Anniversary with the theme, “Continuing the Legacy Through Innovations and Reforms”.