Monthly Co-op Conversations Features Ligas Kooperatiba ng Bayan sa Pagpapaunlad (LKBP)

Previous Next

The November online session of the Monthly Co-op Conversations showcased the remarkable journey and contributions of Ligas Kooperatiba ng Bayan sa Pagpapaunlad (LKBP), one of NATCCO’s billionaire partner cooperatives in the Diaspora program. In this session, we featured distinguished speakers Andrea Luisa C. Anolin, Director IV of the Department of Migrant Workers (DMW), and Julita Nazar, CEO of LKBP.

Director Anolin emphasized that the DMW is pleased to partner with NATCCO through the Diaspora Program, as it helps address the challenges of implementing the new mandate called the Full Cycle National Reintegration Program. She highlighted that the partnership is driven by the proven success of billionaire cooperatives and their potential as viable investment opportunities for Overseas Filipinos (OFs). This collaboration underscores the pivotal role cooperatives play in supporting the reintegration efforts of OFs, fostering economic stability and long-term growth.

Key challenges were also identified to help co-ops like LKBP respond to challenges such as only 4% of OFs in a survey program were able to access government programs due to gap of access to information. It is also mentioned that 75% of OFs prefer to make financial decisions independently without family involvement. 

Cooperatives are then challenged to offer a unique solution by promoting financial literacy and encouraging long-term wealth-building habits, bridging support gaps and fostering economic resilience for OFs and their families.

LKBP’s CEO, Julita Nazar, presented the history, rich legacy and achievements for 38 years since its establishment in the province of Bulacan. With 2.2 Billion in assets and 18,000 members, LKBP offers a diverse array of financial products, services, and livelihood programs, to its branches and satellites in Bulacan, Pampanga, Bataan, and Nueva Ecija. Their programs and services include, deposit and loan products, insurance and allied services, and livelihood programs. 

LKBPs Programs for OFs

The OFW Kapamilya Savings (OKS) program, designed specifically for Overseas Filipinos and their families, provides a comprehensive financial package that combines higher interest rates than traditional banks, fostering greater returns on savings, with deposits starting at ₱1,000 and no maximum limit. Beyond financial benefits, the program encourages medium- and long-term wealth-building habits, empowering participants to achieve their financial goals. Additionally, the convenience of online applications through the LKBP website (ligascoop.org) ensures easy access to this tailored savings solution and the cooperative's allied services.

Our conversation with LKBP emphasized how co-ops can drive positive change by empowering communities through financial literacy, livelihood support, and innovative programs. As a model of success, LKBP continues to demonstrate the transformative potential of co-ops in building sustainable and resilient futures for Filipinos.