BanKO brings banking to residents of resettlement site

ABS-CBN News

Posted at Aug 28 2014 05:10 PM | Updated as of Aug 29 2014 01:10 AM

The owners of the four recently inaugurated BanKO partner outlets join officers of BPI Globe BanKO, Ayala Foundation, Habitat for Humanity Philippines and ABS CBN Foundation.

MANILA, Philippines - BPI Globe BanKO brings banking to the residents of "BayaniJuan sa Calauan," the resettlement site established by the ABS-CBN Foundation, by accrediting four microenterprises in the area as BanKO partner outlets.

The community is home to 5,000 families who were relocated from Estero de Paco in Manila or displaced during Typhoon Ondoy.

“We have waited five years for a bank to serve our residents. Thank you for giving hope to a place where hope may sometimes be elusive," Father Salvador “Boy” Pablo, rector of the community’s Don Bosco parish, said.

BayaniJuan sa Calauan residents joined officials from BanKO, Habitat for Humanity Philippines, ABS CBN Foundation, Ayala Foundation Inc., in a short program to launch the outlets.

“It has been a dream of many BayaniJuan residents to find a means to save. They never expected to be part of the banking system, but BanKO’s presence in the community gives them a sense of empowerment because they are now considered as bankable," ABS-CBN’s Sagip Kapamilya Foundation community development specialist Marivic Abello said.

Habitat for Humanity Philippines president Charlie Ayco, another key partner in the BayaniJuan program, lauded BanKO’s efforts for financial inclusion and acknowledged the bank for “responding to the needs of the community”.

Residents may apply for savings accounts, cash-in and cash-out in the neighborhood partner outlets, thus addressing their need for a convenient, affordable and secure way to save money.

Julie Palma, Field Officer of Ayala Foundation Inc., said that the thriving livelihood program within the community will benefit from BanKO.

“There are many small businesses in BayaniJuan. Residents may now put their earnings in a place within the community,” she noted.

BanKO’s partner outlet model gives financial freedom for the community’s accredited outlets by providing an additional revenue stream for their small businesses.

"I did not have second thoughts when I was invited to become a partner outlet. Aside from having extra income to help me provide a better future for my children, I am also able to help my neighbors save," Alma Managuit, owner of Jam Eatery, said.

BanKO president John Rubio further reiterated the bank’s vision of banking the unbanked. “As the BanKO ng Bayan, we are here to help the ordinary Filipino achieve his dreams by providing him the opportunity to save, access to credit when needed, and formal financial services wherever they may be. We are happy that we are able to help BayaniJuan sa Calauan, and we will reach out to many more communities across the country,” he said.

Visit www.banko.com.ph for more information about BPI Globe BanKO.