Las Nieves, a second class municipality in the northern part of Agusan del Norte, is one of eight municipalities where Land Bank of the Philippines is launching its Agent Banking Program this year.
The program provides the public with basic banking transactions such as Point-of-Sale (POS) cash-out, prepaid card sale, card reload/card refund/withdrawal, balance inquiry and bills payment.
Through partnerships with client cooperatives, associations, small and medium enterprises and private entities, the program is targeted to reach remote and unbanked areas where the bank has no presence.
At Landbank’s fifth Financial Inclusion (FI) Forum for 2019 last October 12, the bank formally introduced the Baug CARP Beneficiaries MPC (BCBMPC) as its first agent banking partner in Las Nieves.
Launched in 2016, and now on its fourth year run, the half-day forum, dubbed “Ipon at Kabuhayan para sa ating Kababayan,” gathered more than 600 attendees, majority of whom are farmers and agrarian reform beneficiaries (ARBs).
“This is part of Landbank’s efforts in bringing our products and services closer to the countryside. With this campaign, we hope to uplift the lives of our fellow Filipinos, particularly the small farmers and fishers, and their families, who are in dire need of financial support for their agricultural livelihood activities,” said Cecilia Borromeo, Landbank president and chief executive officer.
At the event, Landbank featured modules on financial literacy to help farmers improve their income through the proper management of finances, as well as bank products and services, particularly its direct lending programs for farmers.
BCBMPC received a ceremonial check from Landbank amounting to 200 million representing its loan from the bank for relending to small farmers and fishers.
BCBMPC which is based Cabadbaran City has 20,000 coop members, with total assets of P700 million.