Building a Shared Vision: ICD Convenes Key Stakeholders to Strengthen the Cooperative Movement

By: Nelljay Kahlil Tuppal

Research and Content Coordinator, Research and Development

Institute of Corporate Directors

August 15, 2025, Makati City — In a landmark effort to strengthen governance practices and foster greater solidarity within the cooperative movement, the Institute of Corporate Directors (ICD) brought together key leaders from the Cooperative Development Authority (CDA) and the cooperative sector for a high-level brainstorm session at the ICD Board Room. The meeting aimed to identify the sector’s challenges, define a shared vision, and forge a collaborative path forward.

Former ICD Chairman and current Institute for Solidarity in Asia (ISA) Vice-Chairman and Project Lead Mr. Rex Drilon II opened the session by outlining the meeting’s purpose: to share ICD's assessment of the cooperative movement, elicit responses from the CDA and cooperative representatives, and agree on a concrete way forward. He stated that the dialogue would be framed around three perspectives: the service provider (ICD), the cooperatives themselves, and the regulator (CDA).

The meeting brought together key representatives from three sectors: ICD, CDA, and the cooperative sector. From the Institute of Corporate Directors, attendees included Dr. Jesus P. Estanislao, FICD, Founder and Chairman Emeritus; Mr. Rex Drilon II, FICD, Vice Chairman of ISA and Project Lead; Ms. Marivic Espano, FICD, Independent Director; Mr. Conrado Roxas, FICD, Independent Board Director. From the Cooperative Development Authority (CDA) was attended by Mr. Ray Elevazo, Deputy Administrator of the Cooperative Development Authority (CDA). The cooperative sector was represented by Fr. Anton Pascual, Chairperson of the National Union of Cooperatives; Atty. Fe Marie Tagle, Chairperson of Palawan Electric Cooperative; Ms. Aurea Faral, Vice-Chairperson of Sorosoro Ibaba Development Cooperative; Atty. Mickel Borigas, FICD, Director of Sorosoro Ibaba Development Cooperative; Ms. Joy Marie Lacerna, Acting CKCM Group Head, and Ms. Alma Ferreros, Director from San Dionisio Credit Cooperative; Mr. Alvin M. Villamena, Chairperson, and Ms. Aurea Magpantay, General Manager from CARD Employees Multi-Purpose Cooperative; and Mr. Melchor T. Carnate Jr., Chairperson of Tam-an Banaue Multipurpose Cooperative; and the Secretariats, Mr. Kenneth Vicarl Lagera, Mr. Nelljay Kahlil Tuppal, and Ms. Aubrey Camille Perez from the R&D team

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A National Vision for Transformation

Dr. Jesus P. Estanislao, ICD Founder and Chairman Emeritus, set a visionary tone by describing the Philippines as a "Sleeping Giant" in Southeast Asia, rich with potential but lacking in competitiveness. He challenged the group to focus on three imperatives: "Sleeping giant? [First] wake up. Second, let's connect the dots of solidarity…The last word is Nation-building". Dr. Estanislao identified cooperatives as "the bridge between the financial sector and the MSMEs," capable of leading this transformation from the grassroots up.

Governance the "Cooperative Way"

Fr. Anton Pascual, Chairperson of the National Union of Cooperatives, emphasized the sector's unique identity. "We have our unique cooperative identity that makes us different from a corporation, from an NGO, and from the government," he said. He stressed that cooperative governance must be done "the cooperative way," not a borrowed model from other sectors. This sentiment was echoed by Atty. Mickel Borigas, who noted that while ICD’s governance frameworks are sound, they must be adapted to fit the cooperative identity. Atty. Borigas cited the concept of DOSRI (Directors, Officers, Stockholders, and Related Interests) as an example, explaining that it may not apply to cooperative banks where "the members, the client and the owners are the same".

CDA’s Role

Mr. Ray Elevazo, CDA Deputy Administrator, clarified the agency's dual role. "We are here as, number one, regulatory agency for cooperatives; number two, we also act as a development agency," he stated. 

Charting the Way Forward: Collaborative Solutions

The dialogue highlighted the key governance-related issues facing the sector and the importance of addressing these challenges to unlock the full potential of cooperatives.

ICD committed to providing expertise and support by outlining several key areas for joint initiatives to strengthen the cooperative movement.

The meeting marked a clear and definitive step towards a unified and empowered cooperative movement, driven by shared values of transparency, accountability, and a collective commitment to nation-building.