Veterans’ bank changes address

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Monday, June 6, 2011

A BANK owned by Filipino World War II veterans reaffirmed its commitment to serve veterans, their spouses and heirs and the public in general by inaugurating the new location of their branch.

Philippine Veterans Bank-Baguio recently relocated at the ground floor of West Burnham along Kisad Road.

PVB president Ricardo Balbido Jr. said the new business address will make them more visible and accessible to clientele who are a mix of private and government clients.


He said the bank, a government repository bank, allots 20 percent of its annual net income for programs catering to its shareholders composed of veterans, their spouses and heirs.

The bank through its earnings continue to help veterans by supporting the Veteran’s Memorial Medical Center in Quezon City including its outpatient clinics as most of their shareholders are already at the prime years of their life.

Balbido added they commit part of their earnings for the welfare of the veterans through social services and through the continued support of the veteran’s museum.

PVB-Baguio branch head Jerry Calibuso said the bank is one among the few billion peso banks in the city attaining the status due to continued patronage of its clients who avail of their services such as deposits, loans, time deposit products, and cash management services.

Veterans and their spouses and heirs have a special rate only paying P100 to open an account with no maintaining balance compared to other banks.

Calibuso said around 3,000 veterans, their spouses and heirs continue to maintain accounts with them since they opened a branch here in 1997.

Regular clients, meanwhile, pay P1,000 to open a savings account with the bank.

Among the guests of the inauguration were Baguio City officials Mayor Mauricio Domogan, Vice Mayor Daniel Fariñas, Councilors Nicasio Aliping and Joel Alangsab, Philippine Veterans Affairs office officials and veterans shareholders of the bank. (JM Agreda)

Published in the Sun.Star Baguio newspaper on June 06, 2011.


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