CitySavings and DAR sign government employee loan agreement
CITY Savings Bank (CitySavings), the subsidiary savings bank of Union Bank of the Philippines (UnionBank) and a proud member of the Aboitiz Group, has signed a Memorandum of Understanding (MoA) with the Department of Agrarian Reform (DAR ), allowing the bank to offer a payday loan facility to DAR employees nationwide.
This took place at the same time as the signing of the Memorandum of Understanding (MoU) between DAR and Pilmico, another Aboitiz company at the Aboitiz Head Office, NAC Tower, Bonifacio Global City, Taguig on October 14, 2022.
DAR Secretary Conrado Estrella 3rd expressed his appreciation for DAR’s continued partnership with the Aboitiz Group.
“I am pleased that the company’s mission, in conjunction with CitySavings, is to empower these farmers and land reform beneficiaries to truly improve their lives through livelihood and financial inclusion projects,” did he declare.
“Through the signing of this Memorandum of Understanding today with the Department of Land Reform, City Savings Bank will be able to extend easily accessible value-added loan services to all your employees across the country. We will deploy our loan guards so that your employees do not have to visit our physical branches,” explained CitySavings President and CEO Lorenzo Ocampo.
Apart from the payday loan facility, CitySavings will also lead the project [email protected], its hands-on wealth management program, for DAR employees. This is part of the corporate social responsibility initiatives of CitySavings, which promotes financial literacy.
“Simple is Good” – CitySavings’ slogan – sums up its offering of simple banking services, as well as a wide range of mass-market financial products to further promote financial inclusion.