As steward of the members’ money, due diligence is a must in the context of cooperative operations.

This was emphasized in the recently concluded lecture by Atty. Edwin A. Concepcion, Jr. last November 7, 2020 at the Adtempco Main Office Conference Room in Bangued, Abra.

Atty. Concepcion reminded the participants that if due diligence is not observed in all of the coop’s transactions, exposure to risks is inevitable. He mentioned the risks of litigation, of losing property and even reputation when credit investigation is performed carelessly.

“Doing things with due diligence is a way of safeguarding the best interest of the Cooperative and its members,” he said.

“In the instance of credit investigation, non-performance of due diligence by the respective personnel is tantamount to gross neglect of duty as this may result to loss on the part of the coop,” Atty. Concepcion added.

Credit worthiness is assured through diligent credit investigation and helps the management in the decision making process. It is further reiterated that an efficient credit investigation team is the first line of defense of the Coop against fraudulent transactions and protects the management and its members.

According to Mr. Gilman Joyle Barcarse, loans officer of Adtempco Manabo Credit branch and a participant in the said seminar, he learned about the importance of checking the legitimacy of signatures and authenticity of documents being submitted to the coop. He says he is now more confident in talking to clients about the legal aspects of credit and the importance of complying with the requirements.

The participants in the latest seminar include personnel from the managerial, supervisory and the rank and file of ADTEMPCO with the primary aim of improving employee competency and productivity. The seminar is a part of the capability-building training and seminar series programmed by the human resources department of the Coop.