ECONOMIC RESOURCE CENTER FOR OVERSEAS FILIPINOS (ERCOF) PHILIPPINES,
INC.
A non-profit organization registered with the
Securities and Exchange Commission (CN 200313338)
on June 12, 2003.
V I S I O N
Economically, politically and spiritually empowered Philippines that
is sustained by developed local economies, and by the strategic use
of the resources of its citizens locally and overseas.
M I S S I O N
To provide programs and services that will enable overseas Filipinos
to utilize and maximize their resources, skills, technologies, talents,
human capital and other resources for more productive use in the migrants’
communities in the Philippines and overseas.
G O A L S
ERCOF Philippines will work for the development of local economies
through:
*
Awareness raising and related activities that will encourage the
culture of savings and the organized use of remittances, resources
and human capital for more productive undertakings, for generating
employment and livelihood, and for responsible citizenship
*
Advocacy and formulation of programs and facilities that will forge
economic linkages between overseas Filipinos and their communities
– leading to the development of local economies in the Philippines
*
Observance of the economic, socio-cultural and political rights of
Filipino migrants
*
Identification and implementation of programs for economic cooperation
between overseas Filipinos, local governments and other development
actors so that capital build-up, enterprise development, employment
creation and livelihood generation in the countryside are accelerated
*
Encouraging collaboration between and among migrant advocates groups,
service organizations and support groups to come up with a concerted
and solid front to promote and observe the socio-economic rights of
overseas Filipinos.
ERCOF provides various services to assist primarily Overseas Filipinos
and basically anyone wishing to reside, do business or engage in some
form of livelihood or enterprise in the Philippines, in obtaining
basic and practical information that may aid in the proper management
of their financial and economic resources. Although ERCOF provides
assistance and links as may be appropriate, final decisions regarding
investments, business choices or other undertakings, including the
choice of consultants, are entirely made by the person availing of
these services.
To facilitate evaluation of your legal or business inquiry, or request
for a particular assistance or service, we have asked some detailed
information to which you may or may not supply an answer. ERCOF wishes
to make the assurance that any information we receive or you may furnish
us, will be treated with utmost confidentiality and privacy.
These services are as follows:
1. Legal Services
ONLINE
Legal Assistance.
Questions may be asked either by email, during an online discussion,
or by post. Those without access to a computer may seek the assistance
of any of ERCOF's focal or participating organizations in the different
countries listed in our links page.
Check Frequently Asked Questions (FAQs).
The website contains a discussion on specific Philippine legal issues
that surveys have indicated to be the most frequently asked or encountered
by overseas Filipinos. This section also includes questions or cases
actually brought up in counseling sessions or asked online, and the
responses or opinions offered by ERCOF legal pool who are specialists
in various legal fields. Go To FAQ page.
ONSITE
Check the schedule of workshops.
ERCOF legal staff may be requested to conduct seminars and counseling
sessions before overseas Filipino communities in groups or on an individual
basis. If interested, please contact the legal team.
2. Business Services
ONLINE
Inquire about linking to community-based financial services and programs
Check Frequently Asked Questions (FAQs).
ONSITE (To be updated soon.)
Rationale for Business Services
Reintegration. Many Overseas Filipino workers (OFWs) dream about
investing part of their earnings or savings, in a business venture
that could be their main, if not the only, source of income when they
return to the Philippines after a long absence. There are also many,
who while still working or living abroad, send money to the Philippines
as starting capital for a small business venture that they expect
would be a source of income for their dependents or relatives, who
are expected to manage the business and in the process become self-reliant
and less dependent on them for support.
Problems. Some surveys have shown however that a high percentage
of these business ventures have failed due to the lack of planning,
knowledge or discipline on the part of the OFW or their relatives
in running a business. Preferences are usually in the area of public
utilities such as tricycles, taxicabs or jeepneys, small neighborhood
retail stores, swine and poultry raising, small scale trading, and
other areas that may already be overcrowded or are already adequately
serviced. This pattern may be an indication that economic conditions
and lack of facilities or access to knowledge and existing service
providers might have limited the choices or discouraged them in trying
new areas of investment or exploring processes that may improve on
traditional means or searching new markets for their products. OFWs
who send money to be invested in small enterprises and run by relatives
or friends remain to be "absentee investors" and are therefore
unable to personally monitor or oversee their investments.
Responses/Strategies. Not all OFWs have the intention to go into
business. But it has been said that their resiliency, capacity for
hard work, exposure and adaptability to new ideas and technology in
foreign countries, make them ideal candidates for starting a business.
Hence, for those who decide to do so, or may not have any other choice,
it is still imperative that they go through some kind of orientation,
training or updating with present regulations and procedures. There
are already several private, government banking or financial, and
school-based institutions in the Philippines that offer not only the
basic business training but also access to markets, business assistance,
microfinance, and particularly in the case of NGOs, social and other
related services that facilitate the OFW's reintegration process.
These facilities must be fully utilized through: (1) public awareness
campaigns and (2) introducing a system for integrating these existing
facilities and linking the public, particularly OFWs to these services.
ERCOF does not intend to duplicate these resources. Instead it works
to fill these gaps by providing the initial business, legal and practical
orientation to OFWs on site (overseas) and online through its website,
with the help of its partners and links in the Philippines, provide
overseas Filipinos with the linkages to all these institutions who
would provide the hands-on business training and orientation, and
then monitor results, and provide other necessary support to ensure
the success of the partnerships thus created.
3. Financial Planning Services
Get personal financial planning information and assistance. Check
Frequently Asked Questions (FAQs).
Rationale for Personal Financial Planning Services
Many Filipinos have resorted to overseas employment as a solution
to the survival of their families in the Philippines. Thus, promoting
the idea of savings may be quite difficult, especially when a substantial
portion of the earnings of many OFWs are already allocated for basic
needs such as food, shelter, clothing and education. Whatever may
remain goes to the OFWs own needs, or may be saved for emergencies,
and ironically, luxury items.
On the other hand, there are also a good number of OFWs whose families'
needs are relatively well cared for, and therefore, have more disposable
income, and are more susceptible to the idea of savings, investment
and Financial and Estate planning.
At any rate, ERCOF believes that financial planning is still possible
regardless of one's level of income or need, through the promotion
of a Culture of Resource Management or Personal Financial Literacy,
which basically means planning for one's future and maximizing one's
resources. In that way, the end result is not only saving, but also
a productive change in attitude in the way Overseas Filipinos and
their families manage and spend hard earned income. ERCOF provides
linkages to institutions that will assist them to adapt faster to
this culture
Capital Buildup. Links to community-based financial services and
programs, can help OFWs, who may wish to purchase agricultural or
residential property, improve existing homes, or start a rural-based
enterprise. This facility would also be beneficial to OFW organizations
or OFWs belonging to the same community, who may wish to invest in
post harvest facilities, mechanized farm implements, or other means
that will improve farm productivity.
Health Coverage. Enrollment of relatives in health maintenance organizations
means that our relatives' medical needs are addressed at the time
they need it, or minimize medical emergencies because of preventive
treatment. This also spares the extra remittance charges each time
money is sent, let alone needless worry because our loved one could
not be attended to until the money arrives. There are now Philippine
companies and institutions that make available to the public, products
and services that are inexpensive but have value-for-money. ERCOF
provides the linkages between the OFWs and these institutions. (These
are in the links section.)
Legal Counseling on Property Acquisition. This represents one of
the frequent uses of remittances. However, there are many cases of
failed or defective purchases and waste of hard earned money, because
of faulty titles, improper documentation, and other problems that
have resulted from unfamiliarity with laws. ERCOF's legal counseling,
legal referral service and FAQs are designed to give basic helpful
directions to inform or warn OFWs of potential dangers to ensure that
the OFW buyer makes informed choices and decisions. ERCOF also has
links with the proper government agencies to monitor whether properties
offered abroad by property developers are not suffering from legal
or financial impediments that may affect their ability to provide
title or completion of facilities.
Property reacquisition. In many rural areas, people are frequently
constrained to mortgage land or other property at unusually high interest
rates or other oppressive conditions, in order to defray the recruitment
and travel expenses of a relative going on overseas employment. ERCOF
may provide not only legal counseling in the event this may be necessary
to prevent foreclosures of property, but also linkages to rural-based
financial services which could assist in restructuring such loans,
or even taking out loans, at more reasonable rates, prior to the departure
of an overseas worker.
for More and Updated Info, always visit their website at http://www.ercof.org/
ofw info hub 