Palawan farmers, fisherfolk manage their money through BDO Network Bank’s financial education initiatives

National

Palawan farmers, fisherfolk manage their money through BDO Network Bank’s financial education initiatives

_{𝐵𝐷𝑂 𝑁𝑒𝑡𝑤𝑜𝑟𝑘 𝐵𝑎𝑛𝑘 𝐵𝑟𝑜𝑜𝑘𝑒’𝑠 𝑃𝑜𝑖𝑛𝑡, 𝑃𝑎𝑙𝑎𝑤𝑎𝑛 𝑖𝑠 𝑛𝑜𝑤 𝑜𝑝𝑒𝑛 𝑡𝑜 𝑠𝑒𝑟𝑣𝑒 𝑖𝑛𝑑𝑖𝑣𝑖𝑑𝑢𝑎𝑙𝑠 𝑎𝑛𝑑 𝑚𝑖𝑐𝑟𝑜, 𝑠𝑚𝑎𝑙𝑙, 𝑎𝑛𝑑 𝑚𝑒𝑑𝑖𝑢𝑚 𝑒𝑛𝑡𝑒𝑟𝑝𝑟𝑖𝑠𝑒𝑠 (𝑀𝑆𝑀𝐸𝑠) 𝑖𝑛 𝑛𝑒𝑒𝑑 𝑜𝑓 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑜𝑙𝑢𝑡𝑖𝑜𝑛𝑠.}

BDO Network Bank (BDONB) has conducted financial education training sessions for farmers and fishermen in Bgy. Ipilan, Brooke’s Point, Palawan to raise awareness on the importance of saving for their future.

BDONB, the community banking arm of BDO Unibank, just opened a branch in the area and now serves individuals and micro, small, and medium enterprises (MSMEs) with financial solutions appropriate to their needs.

The Bank shared the importance of saving and proper money management to help residents and business owners improve their livelihoods.

_{𝑇ℎ𝑒 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑒𝑑𝑢𝑐𝑎𝑡𝑖𝑜𝑛 𝑡𝑟𝑎𝑖𝑛𝑖𝑛𝑔 𝑏𝑦 𝐵𝐷𝑂 𝑎𝑛𝑑 𝐵𝐷𝑂 𝑁𝑒𝑡𝑤𝑜𝑟𝑘 𝐵𝑎𝑛𝑘 𝑖𝑛 𝐵𝑎𝑟𝑎𝑛𝑔𝑎𝑦 𝐼𝑝𝑖𝑙𝑎𝑛, 𝐵𝑟𝑜𝑜𝑘𝑒’𝑠 𝑃𝑜𝑖𝑛𝑡, 𝑡𝑎𝑢𝑔ℎ𝑡 𝑓𝑎𝑟𝑚𝑒𝑟𝑠 𝑎𝑛𝑑 𝑓𝑖𝑠ℎ𝑒𝑟𝑚𝑒𝑛 𝑎𝑏𝑜𝑢𝑡 𝑝𝑟𝑜𝑝𝑒𝑟 𝑚𝑜𝑛𝑒𝑦 𝑚𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡.}

“Farmers and fisherfolk are essential to the local economy, so we go to barangays to conduct community day and financial education programs. We want their livelihoods to flourish and be financially stable,” explained BDO Network Bank President Jesus Antonio S. Itchon.

Some of the critical pieces of advice given by the Bank were:

Saving and having a bank account are essential. A Savings Account allows them to set aside income for an emergency fund to be prepared for unexpected events like disasters, illness, or sudden job loss.
BDONB account holders also have the opportunity to apply for other products and services tailored to their needs, such as Negosyante Loan, salary loans, home loans, auto loans, micro-insurance, and more.
It is vital to seize opportunities for progress. Modern tools and technology are necessary to enhance the effectiveness of farming or fishing. Additional funding can help them acquire equipment without selling or pawning properties.

For instance, BDONB offers Negosyante Loan to entrepreneurs needing extra capital to pursue their business plans. The loan amount ranges from PHP 30,000 to PHP 500,000, with a manageable repayment process for borrowers.

For more details about BDO Network Bank’s products and services, you can visit the nearest BDO Network Bank branch in your area, access the BDO Network Bank website (https://www.bdonetworkbank.com.ph), or send a direct message to the BDO Network Bank Official Facebook Page (https://www.facebook.com/BDONetworkBankPH).