Coop Board OKs “Balik Sigla Program” for Borrowers

The CBMPC Board recently approved the “Balik Sigla Program, ” a loan amnesty program where loan borrowers with long past due accounts can have the chance to clear their credit delinquency status.

The “Balik Sigla Program” aims to help members to settle their past due loans through restructuring of their loans, reduction or waiver of penalty charges and reduction of interest. The program also hopes to re-instill a culture of responsibility among members and enable them to reconnect to the cooperative.

The program has started on July 1, 2025 and will run until December 31, 2025.

The Balik Sigla Program has the following features:

To qualify for the program, the members must not be undergoing the coop’s disqualification or expulsion process. Once qualified, delinquent members must fully pay their principal balance. No further restructuring shall be allowed. Failure to comply with the agreed payment scheme would mean the reversal of the waiver.