International Day of Family Remittances (IDFR) 2022: Building the Resilience of Overseas Filipinos through Digital and Financial Inclusion

The International Day of Family Remittances (IDFR) is a celebration for migrant workers who send money home to their family members. For the Co-ops, this is a special day to recognize the immense contribution of the Overseas Filipino remittances in the economy and in the development of local communities. IDFR is celebrated every 16th of June, and this year, the theme is: Recovery and Resilience through Digital and Financial Inclusion. IDFR 2022 also commemorates the efforts of migrants in contributing a positive socioeconomic impact to their families and communities through remittances. Diaspora partner co-ops have been celebrating IDFR since 2018 by raising awareness, sharing experiences, and engaging the OF families in various enterprises to build financial resilience.

Co-ops boost awareness of its members by using the hashtags #familyremittances #IDFR2022, #natccodiaspora, and #____joinsIDFR2022. Co-ops also do online kamustahan, raffle promo, and Financial Literacy webinar. Cooperatives also post compelling photos on how they celebrate IDFR.  Tagum Cooperative celebrated IDFR by preparing gifts and tokens for members who availed TC OFFWEB - Overseas Filipinos and Families Wealth Building products. 

Furthermore, co-ops also share OF’s experiences to inspire more members just like the testimony of the OFW coop-members, Mr. Dennis Valenciano, of CamSur Multi-Purpose Cooperative and Ms. Mary Ann D. Tolosa of Tagum Cooperative. The OFs share their great encounters how co-ops help them cope with financial challenges, especially during the height of the pandemic. Through this, the co-ops captured the minds and hearts of its members while promoting their financial-inclusive products. Co-ops also celebrated IDFR 2022 by creating exciting activities like the IDFR Caravan of Most Holy Rosary Multi-Purpose Cooperative, where it offers affordable rice grains and foods in their Trading Business Center booths.

By engaging in the IDFR 2022 and actively implementing their wealth-building program, co-ops also empower their members by providing enterprise loans, savings, and insurance to help build the financial resilience of the members. NATCCO’s Kaya Payment platform also facilitates greater inclusion both for OFs and their families.

International Day of Family Remittances is not just an observance to recognize OF remittances, but also a reflection of how co-ops serve as migrant workers' partners in reaching their dreams. As OF’s development partners, co-ops show how they value their significant contribution by providing sustainable and inclusive socio-economic services to their members. Truly, co-ops remain to be a catalyst of transformative change, not just to Overseas Filipinos, but also to the nation and the world.