The launch was held at the Negros Oriental Convention Center in Dumaguete City, Negros Oriental. More than two thousand delegates from around the country gathered as Dr. Ma. Cecilia M. Genove, Dean of the College of Mass Communications at Siliman University, introduced “the newest feature of the Cooperatives.”
Koop Pera Padala was developed in response to a demand for a “Cooperative-Operated”, “Cooperative-Owned and Managed” money transfer service for all cooperatives nationwide. Based on the 2009 data of the Central Bank, remittances from about 9 million Overseas Filipino Workers amounted to about $15.8 billion. However, according to the POEA, 40% of these remittances are delivered by courier.
The PFCCO, along with its providers, in their desire to reach those who do not have any electronic financial service, designed the KoopPeraPadala system that not only offers remittance services, but also effectively prepares members of the Cooperative to be ready in today’s evolving financial marketplace by introducing them to the Internet.
Soon, local and international banks, money transfer operators (MTOs), and Cellular Phone Companies (with the added SMS Notification Feature) will use the KoopPeraPadala system as their main delivery channel for money remittances in the unserved and/or underserved communities in the Philippines.
Present at the event were Sen. Juan Miguel Zubiri, who gave the Keynote Speech, and the PFCCO Directors lead by Vice Chairperson, Paeng Puentespina. Also present were ML Chair person, Mr. Julie Caras, Director representing Womens, Dr. Sylvia Flores, Director, DCCCO, and Director representing Managers, Ms. Felicidad Ruiz, GM, DCCCO.