Mindanao held CoMSCA Summit 2023
By Roxanne Angelika S Dela Cruz | Field and Emergency Communications Specialist
Members of various savings groups or CoMSCA (Community Managed Savings and Credit Association) in World Vision communities in Mindanao gathered recently to celebrate their milestones and learn more from each other.
“This event is an opportunity for CoMSCA members to present the impact of savings such as on how they thrive and cope during the pandemic; and for family entrepreneurs to showcase their products,” said Rubylyn Gonzaga, World Vision’s Economic Development Specialist.
CoMSCA is World Vision’s community intervention that teaches individuals the value of savings. A CoMSCA group is composed of 25 members who meet regularly to save from as little as Php20.00 to as much as Php500. After a year, a member will be able to get her/his total savings.
“CoMSCA made a huge impact on people’s organizations in Kidapawan City. All departments and offices of LGUs in the city have their respective community savings groups. That is how effective CoMSCA is,” said Atty. Levi Jones Tamayo, Civil Society Development Unit Head of Kidapawan City.
He added, “Apart from teaching the community to save, CoMSCA has an effect on people’s behavior to change positively. For example, the members often drink liquor. But since they now want to save, they cut off drinking because they know that they will have more money during share-out. Instead of spending their money on their vices, they have become more disciplined to save their money.”
CoMSCA members shared how their savings helped them repair and build their houses, and served as business capital for putting up a sari-sari store.
CoMSCA members also showcased their group and community products such as those made of abaca like bags and hats; banana chips; bayong woven bags; and egg products.
“What was only a project of World Vision in 2008 has now influenced and changed the lives of many. Today, we have now about 1,700 members. Savings will improve one’s quality of life, and gives a sense of financial stability and security,” Elizabeth Delgado, Mindanao Field Operations Manager of World Vision shared.
Also present during the CoMSCA Summit were the different Local Government Units, the Department of Agriculture, the Department of Agriculture – Agriculture Training Institute, the Department of Trade and Industry, the Department of Agrarian Reform, 4H Club, Don Bosco Multipurpose Cooperative, and Lao Integrated Farm, Inc.,