The Coconut Hub of Lamac Multi-Purpose Cooperative (LMPC) at Barangay Colonia in Tuburan, Cebu produces various products made from coconuts, that has been helping increase the income of local coconut farmers while providing livelihood opportunities among women in the community. (Photos courtesy of LMPC) TUBURAN, Cebu – When Super Typhoon “Yolanda” devastated parts of the country in 2013, coconut farmers from this town struggled with lower productivity and income. They were left with damaged coconut farms, making it even harder to earn a living for their families. This dire situation pushed the Lamac Multi-Purpose Cooperative (LMPC) to support its farmer-members by establishing a production center for diverse products made from coconuts, which provides farmers with higher income from selling all parts of their produce to LMPC at a competitive price, instead of relying solely on producing copra. The Coconut Hub or ‘Cocohub’ facility, the first-of-its-kind in Cebu, commenced operations in 2020. Today, the center processes 15,000 seed nuts a day for the production of virgin coconut oil, coco sugar, coco baskets, ropes, mats, and anti-soil erosion nets, among others. The Cocohub project benefits over 500 farmers from Tuburan and neighboring towns, while generating employment opportunities for women in the community who work full-time in the hub. The operations of the Cocohub is backed by financial support from the Land Bank of the Philippines (LANDBANK)—a long-time development partner of the LMPC. Loans from the Bank are used as working capital for the purchase of furniture and fixtures, payment of raw materials to suppliers, and salary of the cooperative’s workers. “Malaki ang naitutulong ng LANDBANK upang mapanatili ang operasyon ng Cocohub, lalo na at hindi ganon kabilis ang return of investment dito. Parang pamilya na namin ang LANDBANK dahil lahat ng pangangailangang pampinansiyal ng LMPC ay sila talaga ang tumutugon,” said LMPC General Manager Ma. Elena C. Limocon. The Cocohub is a joint project with the Philippine Coconut Authority (PCA), which provides the LMPC infrastructure support and essential equipment, including a decorticating machine. Other government agencies and local government units (LGUs) are likewise supporting the project to help sustain its operations. These include the Department of Science and Technology (DOST), Department of Trade and Industries (DTI), Bureau of Fisheries and Aquatic Resources (BFAR), and the Cebu Technological University (CTU), which provide information resources, product innovations, and relevant trainings to capacitate farmers as well as for marketing of the goods. “LANDBANK is a proud partner of the LMPC Cocohub designed to uplift the lives of coconut farmers and communities in Cebu. This project is a shining example of how government partners working under a whole-of-nation approach can build a sustainable and inclusive agricultural value chain,” said LANDBANK President and CEO Cecilia C. Borromeo. Development partner in the countryside The LMPC has been a consistent development partner of LANDBANK in the Visayas region since 1992. It is mainly engaged in credit extension through its 56 branches, assisting more than 120,000 farmers and fishers from the provinces of Cebu, Bohol, Negros Occidental and Leyte for their livelihood and agricultural projects. LANDBANK’s unwavering support to LMPC has also allowed the co-op to take on other meaningful projects and initiatives in support of various local communities. The LMPC has participated in the Milk Feeding Program of the Department of Education (DepEd) that benefits thousands of undernourished students from Cebu and Negros Occidental. The co-op has an existing loan line from LANDBANK to augment its working capital for dairy production. The LMPC is also instrumental in bringing basic banking services to underserved areas by equipping most of its branches with point-of-sale (POS) terminals under LANDBANK’s Agent Banking Program (ABP), to facilitate banking transactions for local residents, especially in remote communities. LANDBANK is the second largest universal bank in the country that is committed to serve the development requirements of cooperatives, thereby empowering them to become catalysts for inclusive growth in the countryside. As of end-October 2022, LANDBANK’s outstanding loans to the cooperative sector have reached P61.4 billion, helping over 1,300 co-ops nationwide.
READ MORE(left photo) Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla (4th from left), Monetary Board Member Eli M. Remolona (2nd from left), Deputy Governor Bernadette Romulo-Puyat (leftmost), and Davao City Vice Mayor Jay Melchor B. Quitain, Jr. (3rd from left) are joined by LANDBANK officers during the launch of the Paleng-QR Ph at the Bankerohan Public Market in Davao City on 23 November 2022. (right photo) A LANDBANK Mobile Branch is deployed during the launch event to facilitate on site LANDBANK account opening among market vendors, shop owners and market goers. DAVAO CITY – The Land Bank of the Philippines (LANDBANK) is stepping-up to accelerate the adoption of cashless transactions in this City’s biggest public market, in support of the Central Bank's thrust of transforming the country into a cash-lite economy. LANDBANK joined the Bangko Sentral ng Pilipinas (BSP), the Department of Interior and Local Government (DILG), and the City Government of Davao during the launch of the Paleng-QR Ph program at the Bankerohan Public Market last 23 November, to provide local stakeholders with their own bank accounts. The LANDBANK Mobile Branch was deployed to facilitate on-the-spot account opening among market vendors and shop owners, as well as market goers. New LANDBANK account holders were automatically enrolled in the LANDBANK Mobile Banking App (MBA), which can facilitate the transfer and receipt of funds via Quick Response (QR) code. “LANDBANK fully supports the Paleng-QR Ph program in encouraging local communities to adopt cashless payments. We are bringing digital payments closer to consumers to make everyday transactions faster, safer and more convenient, where development is truly inclusive,” said LANDBANK President and CEO Cecilia C. Borromeo. The Overseas Filipino Bank (OFBank), the official digital bank of the Philippine government and a subsidiary of LANDBANK, also participated in the event and offered its deposit products to Davaoeños. The launch of Paleng-QR Ph in Davao City was spearheaded by BSP Governor Felipe M. Medalla and Mayor Sebastian Z. Duterte. They were joined by BSP Monetary Board Members Antonio S. Abacan, Jr., V. Bruce J. Tolentino, Anita Linda R. Aquino and Eli M. Remolona, and Deputy Governors Eduardo G. Bobier and Bernadette Romulo-Puyat, DILG XI Assistant Regional Director Abdullah Matalam, and Vice Mayor Jay Melchor B. Quitain, Jr. Jointly developed by the BSP and DILG, the Paleng-QR Ph program aims to build the digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation, particularly tricycles. LANDBANK has been supporting the BSP’s digitalization thrust by providing its customers with innovative digital banking platforms. Most recently, the Bank launched the LANDBANKPay, an all-in-one mobile wallet that allows users to conveniently pay bills, load up mobile phones and tollway RFID accounts, make online purchases, as well as transfer funds anytime, anywhere. Since the pandemic started, LANDBANK has also recorded a consistent increase in customer demand for digital financial transactions. In the first three quarters of the year alone, the Bank facilitated a total of 111.3 million transactions amounting to P4.6 trillion across its major digital platforms, for 15% and 169% year-on-year growths in volume and value, respectively. The LANDBANK MBA topped the list in terms of transaction volume facilitated, after recording 87.6 million transactions worth P154.3 billion.
READ MORE(L-R) LANDBANK Senior Vice President Ramon R. Monteloyola, Securities and Exchange Commission (SEC) Commissioner McJill Bryant T. Fernandez and Director Dondie Q. Esguerra, lead the ceremonial signing of the amended Memorandum of Agreement (MOA) for the LANDBANK Online Collection (OnColl) facility on 28 November 2022 at the SEC Headquarters in Makati City. The Land Bank of the Philippines (LANDBANK) and the Securities and Exchange Commission (SEC) have strengthened their partnership for the efficient processing of registration applications and payments. Under the amended Memorandum of Agreement (MOA), LANDBANK and SEC have updated their processes for the acceptance of payments of all SEC fees and transactions covered by a Payment Assessment Form (PAF) through the LANDBANK Online Collection (OnColl) facility. The LANDBANK OnColl facility facilitates around 2,000 transactions per month for the SEC, which covers applications for company registrations, and the verification and reservation of corporate names, among others. New SEC Accounts shall also be enrolled in the LANDBANK weAccess, for the convenient online viewing and downloading of Online Collection Reports by the SEC. SEC Commissioner McJill Bryant T. Fernandez, Financial Management Department Director Dondie Q. Esguerra, and LANDBANK South NCR Branches Group Head, Senior Vice President Ramon R. Monteloyola, signed the amended MOA on 28 November 2022 at the SEC Headquarters in Makati City. “LANDBANK fully supports the digitalization journey of the SEC to respond to the evolving needs of its customers. Our renewed partnership furthers the ease of doing business with the Commission through the delivery of convenient services,” said LANDBANK President and CEO Cecilia C. Borromeo. For his part, SEC Commissioner Fernandez said that the LANDBANK OnColl will help in the Commission’s efforts to transition from over-the-counter transactions to online payments. “[This] will provide real-time and accurate reporting and monitoring made through online collections that will further strengthen our mandate towards transparency, accountability and good governance,” said Commissioner Fernandez. Payments to SEC applications can be made in 609 LANDBANK branches nationwide as of 31 October 2022. LANDBANK and SEC are likewise working towards upgrading current processes, from using the OnColl facility into the Link.BizPortal—LANDBANK’s web-based payment channel—to better serve the growing demand for safe and contactless online payment options.
READ MOREPromo Mechanics Promo Period: December 12 - 14, 2022 Promo Period and Promo Offer The Promotion is open to all active users in good standing of the LANDBANK/OFBank Visa Debit Card. Promo Offer: Enjoy 15% OFF with Landbank and OFBank on Lazada's 12.12 Mega Sales! The promo is valid on regular and sale items at Lazada. Discount applies with a minimum spend of P1,000, charged to the LANDBANK and OFBank Visa Debit Card. Discount is capped at Php 500. Discount is redeemable from: December 12-14, 2022 with code: LBPLAZ12 Discount code is valid for three-time use per promo period on Lazada's mobile app and website. Discount will apply when the voucher is entered at the Payment Page and the eligible LANDBANK and OFBank VisaDebit Card is selected as the payment option. Customer must check if voucher is applied before proceeding to final check -out. Discount is not applicable to digital goods, stores with digital goods product/s, milk products for 3 years old below(under the Milk Code) and other goods from blacklisted sellers set by Lazada. Purchase must be made using an eligible LANDBANK Visa Debit Card during the valid promo period from December 12 - 14, 2022. Payment codes cannot be used with other collectible or static code discount vouchers. Transaction must be made within the Promo Period to avail of the Promo. The Promo is valid at Lazada Philippines Smartphone mobile app and website. How to Avail of the Discount Open the Lazada website (www.lazada.com.ph) or download the Lazada app for free via App Store for Apple users orGoogle Play store for Android users. Select the item/s you wish to purchase then click "Add to Cart". Prepare your card details for the transaction. Click the Shopping Cart icon on the right, topmost portion of the screen to view all the items on your Shopping Cart. Select the item/s you wish to purchase and once you have reviewed the items on your Shopping Cart, click "Check Out". Input the voucher code on the checkout page to apply the discount. Enter your shipping and billing information and select the credit card as payment method. Enter your LANDBANK/OFBank Visa Debit Card details and make sure to check if the discount was applied to total billing before proceeding to place the order. Click "Place Order" to complete the transaction. Terms and Conditions Minimum spend of P1,000 isrequired. Minimum spend applies to the total price of selected items in cart prior to any discounts. Discount capped at P500. Valid for three-time use per promo duration per customer. Discount is applied when customer enters eligible LANDBANK/OFBank Visa Debit Card details. Discount is applied automatically at the checkout only when the voucher code has been successfully applied on the order. Discount is not transferable and may not be converted to cash, credit, kind or similar financial instruments. Discount cannot be applied retroactively. Discount is not applicable to items marked "Voucher code not applicable on this item". All cancelled orders will not be valid for re-instatement of voucher codes. Payment codes cannot be used with other collectible or static code discount vouchers. The use of promo code is subject to the Lazada Voucher Terms and Conditions Customer Support For questions or clarifications, please contact Lazada Customer Care by clicking the chat button at http://www.lazada.com.ph/contact.
READ MOREPromo Mechanics Qualified Cards: Mastercard Credit, Debit and Prepaid Cards (including all issuing banks) Promo Period and Promo Offer Promo Period: December 12-14, 2022 The Promotion is open to all issuing banks of active Mastercard Principal or Supplementary Credit, Debit, and Prepaid Cardholders. Promo Offer: Shop at Lazada using your Mastercard during Lazada's Mega & Double Double Sales in 2022 The promo is valid on regular and sale items at Lazada. Purchase must be made on promo periods indicated from 12:00 am to 11:59 pm Philippine time. Discount applies for a minimum transaction amount of 4,000, charged to the Mastercard Credit/Debit/Prepaid Card. Free shipping promo discount is capped at P400. The discount can be availed through collectible vouchers in 1 day before sale period on the dedicated Mastercard landing page in Lazada platform. Voucher is valid for one-time use only during each sale period at the Lazada mobile app only. Discount will apply when the voucher is selected at the Payment Page and the eligible Mastercard Credit/Debit/Prepaid Card is selected as the payment option Customer must check if voucher is applied before proceeding to final check-out. Discount is not applicable to digital goods, stores with digital goods product/s, milk products for 3 years old below (under the Milk Code) and other goods from blacklisted sellers set by Lazada. Purchase must be made using an eligible Mastercard Credit/Debit/Prepaid Card during indicated sales dates only. Dates are as follows: Dec 12-14, 2022. Free shipping vouchers can be used with other collectible vouchers and voucher codes, except for platform shipping fee vouchers. Transaction must be made within the Promo Period to avail of the Promo. The Promo is valid at Lazada Philippines Smartphone mobile app only. How to Avail Via Lazada Mobile App Download the Lazada app for free via App Store for Apple users or Google Play store for Android users. Collect Shipping fee voucher from the Mastercard landing page on Lazada. Select the item/s you wish to purchase then click “Add to Cart”. Prepare your card details for the transaction. Click the Shopping Cart icon on the right, topmost portion of the screen to view all the items on your Shopping Cart. Select the item/s and applicable shipping fee voucher prior to checking out. Once you have reviewed the items on your Shopping Cart, click “Check Out”. Make sure to check if the discount was applied to total billing before proceeding to check out. Enter your shipping and billing information and select the credit card as payment method. Enter your Mastercard Credit/Debit/Prepaid Card details and make sure to check if the discount was applied to total billing before proceeding to place the order. Click “Place Order” to complete the transaction. Terms and Conditions Shipping discount can be used once throughout the valid promo period. Shipping discount is applicable to all Mastercard Credit/Debit/Prepaid Cardholders. Maximum discount is P400 on shipping fee. Shipping discount is applied automatically at the checkout only when the voucher has been successfully collected. Shipping discount is not exchangeable for cash, credit or other goods and services. Shipping discount amount cannot be applied retroactively. Shipping discount is considered fully consumed regardless if total shipping fee is less than discount amount. The use of the voucher is subject to the Lazada Voucher Terms and Conditions. Applicable only to eligible credit card BINs and eligible items. Voucher can be used with other collectible vouchers and voucher codes, except for platform shipping fee vouchers. Customer Support For questions or clarifications, please contact Lazada Customer Care by clicking the chat button at http://www.lazada.com.ph/contact. Per DTI Fair Trade Permit No. FTEB-156658 Series of 2022.
READ MOREDICT Secretary Ivan John E. Uy (4th from right) and LANDBANK President and CEO Cecilia C. Borromeo (2nd from right) sign the Inter-Government Agency Memorandum of Understanding (MOU) for E-Governance on 2 December 2022 at the Marriot Hotel in Pasay City, Manila, together with (from L-R) MinDa Chairperson Maria Belen S. Acosta, GSIS President and General Manager Jose Arnulfo Veloso, DTI Usec. Herminio C. Bagro III, DILG Usec. Lord A. Villanueva, and SSS President Michael Regino. The Land Bank of the Philippines (LANDBANK) and the Department of Information and Communications Technology (DICT) have partnered to synergize initiatives in ensuring the interoperability of the applications and systems of both institutions. DICT Secretary Ivan John E. Uy and LANDBANK President and CEO Cecilia C. Borromeo formalized the collaboration with a Memorandum of Understanding (MOU) signed during the Inter-Government Agency MOU Ceremonial Signing for E-Governance event on 2 December 2022 at the Marriot Hotel in Pasay City, Manila. Under the MOU, LANDBANK and DICT will harmonize, coordinate, and integrate their Information and Communications Technology (ICT) efforts, which include resource sharing, database building and agency networking linkages. “Our Memorandum of Understanding with the DICT represents another significant step in LANDBANK’s digital transformation journey, leveraging on innovative partnerships and investing in digital solutions to deliver secure financial services and products to our customers,” said President Borromeo. From January to October 2022, LANDBANK’s major digital banking platforms have facilitated a total of 123.3 million transactions amounting to P4.8 trillion, translating to 14% and 156% year-on-year growths in volume and value, respectively. The LANDBANK Mobile Banking App (MBA) for retail customers recorded 97 million transactions amounting to P171.3 billion for 18% and 28% growth rates, respectively. The Bank’s corporate internet banking platform, the LANDBANK weAccess, facilitated 14.2 million transactions worth P3 trillion, representing an unprecedented 664% jump in value from the same period last year. The LANDBANK Electronic Modified Disbursement System (eMDS) for national government partners logged 1.9 million transactions with total value of P1.6 trillion, translating to increases of 17% and 20% in transactions and value, respectively. Meanwhile, the LANDBANK iAccess continued to post a 16% growth in transaction value amounting to P14.3 billion from 4.3 million transactions. The Bank’s web-based payment facility, the LANDBANK Link.BizPortal, likewise continued to record a 50% rise in transaction volume with 4.9 million transactions worth P9.8 billion. Lastly, the LANDBANK Bulk Crediting System (LBCS) facilitated transactions worth P18.9 billion for a significant 608% leap compared to the same period last year.
READ MORELANDBANK Senior Vice President Charlotte I. Conde (2nd from left) and Laconon 100 Multi-Purpose Cooperative (LMPC) Chairperson Rhoda O. Pecadizo (3rd from left) lead the signing of a P212.8-million loan agreement in Surallah, South Cotabato, on 25 November 2022 to finance the co-op’s pineapple production and other agri projects. Joining them from Dole Philippines, Inc. (Dolefil) are Vice President Reynaldo C. Doria (4th from left) and Finance and Supply Chain Director Jesusa Natividad-Rojas (rightmost) for the renewal of another pineapple growership tie-up agreement. SURALLAH, South Cotabato – The Land Bank of the Philippines (LANDBANK) and the Laconon 100 Multi-Purpose Cooperative (LMPC) have signed a P212.8-million loan to finance the co-op’s pineapple production and agricultural modernization efforts, to help sustain the growth of the local pineapple industry in the province. The financial support is expected to boost the production of pineapple farms managed by LMPC, with a combined area of over 1,400 hectares in the Municipalities of T’boli, Surallah, Lake Sebu and Banga. “LANDBANK remains committed to empowering agricultural cooperatives nationwide via accessible financing. Through co-ops like LMPC, we are able to extend a wide range of services and opportunities to farmers and fishers, while contributing to advance local food security,” said LANDBANK President and CEO Cecilia C. Borromeo. Of the total LANDBANK loan, LMPC will utilize P200 million as working capital to support the production requirements of its 445 pineapple farmer-members, including the purchase of farm inputs, while P7.8 million will finance the purchase of two (2) farm tractors and one (1) monitoring vehicle. The vehicles will be used for land preparation and field monitoring to effectively respond to urgent farm needs. The remaining P5-million will be allocated for LMPC’s cassava and corn trading activities. LMPC dealt with financial difficulties due to the unexpected closure of its anchor firm and primary pineapple produce buyer in 2003, but was able to recover with LANDBANK’s credit assistance in 2017. “Sa lahat ng pagsubok na dumating sa LMPC, hindi kami iniwan ng LANDBANK. Kami ay muling nakabangon mula sa pagkalugmok at ngayon ay mayroon na kaming mahigit sa P200 million na loan line para patuloy na maserbisyuhan ang aming mga miyembro at makapagbigay ng hanapbuhay sa komunidad,” said LMPC Chairperson Rhoda O. Pecadizo. LMPC was able to post steady growth in net income and grow its membership with LANDBANK’s timely assistance. The co-op likewise successfully paid 100% of its previously restructured loan with the Bank in 2021 amounting to P32.5 million. During the loan signing event, LANDBANK, LMPC and Dole Philippines, Inc. (Dolefil) also renewed their pineapple growership tie-up covered by a Tripartite Memorandum of Agreement, which was initially implemented in 2017. Under the agreement, LANDBANK will provide credit assistance and other loan support services to LMPC, with Dolefil serving as the exclusive market of the co-op’s pineapple produce while extending technical assistance throughout the whole production cycle.
READ MOREFinance Secretary Benjamin E. Diokno (2nd from left) and LANDBANK President and CEO Cecilia C. Borromeo (3rd from left), together with Finance Undersecretary Bayani H. Agabin (leftmost) and LANDBANK Executive Vice President Liduvino S. Geron (rightmost), lead the signing of a Memorandum of Agreement for the Government Purchase Card (GPC) Program on 06 December 2022 at the DOF Building, Manila. The Department of Finance (DOF) and the Land Bank of the Philippines (LANDBANK) have signed a Memorandum of Agreement (MOA) for the Government Purchase Card (GPC) Program that will facilitate a more streamlined and efficient payment method for the procurement of goods and services. Under the agreement, authorized DOF employees will be provided with a LANDBANK Government Purchase Card to pay for eligible purchases, including travel and representation expenses; miscellaneous small-value purchases; hotel and lodging; computer software, services, and digital context; and fuel, automotive parts, and services, among others. Finance Secretary Benjamin E. Diokno and LANDBANK President and CEO Cecilia C. Borromeo led the ceremonial signing on 06 December 2022 at the DOF Building in Manila. They were joined by Finance Undersecretary Bayani H. Agabin and LANDBANK Executive Vice President Liduvino S. Geron. “The Government Purchase Card or GPC Program of LANDBANK will serve as an important tool that will eliminate procurement lead time, reduce procurement workload, facilitate quicker payments, and reduce administrative costs and time wasted in the liquidation process,” said Secretary Diokno. For her part, LANDBANK President and CEO Borromeo said the GPC Program will further support DOF in improving operational efficiency and promoting transparency in the disbursement of public funds. “We will continue to explore ways and meaningful initiatives in accelerating the country’s digital transformation journey for improved governance,” she added. The GPC Program is a joint initiative of the Bureau of the Treasury (BTr), Department of Budget and Management (DBM), and LANDBANK which aims to promote a convenient, transparent and efficient payment process to further drive public digital financial management. The program helps reduce cash handling by limiting the frequency and amount of cash advances, and shorten the liquidation period of obligations to suppliers of goods and services. It also enables government agencies to develop a database of financial information derived from the transaction records of purchasing card activities that can be used to improve overall financial management. The DOF is the second agency to implement the GPC program, following its successful pilot implementation with the BTr and approval by the Bangko Sentral ng Pilipinas (BSP) for full implementation.
READ MOREBangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla (4th from right) presents a citation to Land Bank of the Philippines (LANDBANK) represented by Assistant Vice Presidents Jose Dela Cruz (2nd from right) and Eunice Sumatra (3rd from right) during the 2022 Outstanding BSP Stakeholders Appreciation Ceremony for Mindanao on 23 November 2022 at the Dusit Thani Hotel in Davao City. The Cash Operations Units of the LANDBANK Branches in Davao City-Recto, Cotabato City and Ozamis City were recognized for supporting the programs and advocacies of the BSP covering the three pillars of central banking, which are price stability, financial stability, and efficient payments and settlements system. Joining them are BSP Monetary Board Member Anita Linda Aquino (leftmost) and BSP Deputy Governor Bernadette Puyat (rightmost).
READ MOREAllan Ayco was one of the first availers of the LANDBANK Sikat Saka Program from Dumingag in 2013, and among the combined 655 rice farmers in Zamboanga del Sur and Zamboanga Sibugay who enjoy a low 2% per annum loan interest rate under the ACEF Lending Program. DUMINGAG, Zamboanga del Sur – Unhappy and longing for his family while working away at sea, Allan A. Ayco decided to disembark from the boat and his former life as a seafarer, returning to his home in Dumingag to make a living cultivating his farmland. But like the other small farmers in town in need of capital, Ayco was forced to deal with informal lenders who charged high interest rates from 10% to up to 20% per month. He felt helpless against the unfair interest rates brought about by the monopoly of the post-production market by informal lenders. But things started to look up for Ayco and other farmers in Dumingag when LANDBANK conducted site visits in the province and offered low-interest loans for production requirements under then newly-launched LANDBANK Sikat Saka Program. “Malaking tulong talaga ang pagpasok ng LANDBANK sa buhay ko. Tuwang-tuwa kami sa Sikat Saka Program. Hindi lang sa mababa ang interes, madali lang din ang proseso ng pag-apply,” said Ayco. Ayco was one of the first farmers in the area to avail of a loan under the Sikat Saka Program. Through the assistance of LANDBANK, Ayco enjoyed low interest of 0.75% to 1.25% per month under the Program from 2013 to 2019. Since joining the formal credit system, Ayco said his income increased with every cropping cycle, allowing him to provide a better life for his family. He was able to save enough income to hire other farmers for planting services, as well as procure tractors and harvesting services that he rented out to other farmers in the area. “Malaking tulong sa amin ang Sikat Saka Program. Kaya nga’t kusang loob akong nanghingkayat rin ng mga katulad kong magsasaka. Sinabi ko na maganda ito. Basta dapat aalagaan mo yung utang mo. Dapat maayos yung pagbayad mo para di siya mawala,” Ayco shared. Aside from accessible financial support, Ayco and the other farmers in the area were also provided with support services and capacity building trainings by LANDBANK and its partner agencies. However, the onset of the pandemic in 2020 closed the borders around the Zamboanga Peninsula and significantly affected their livelihood, which prevented them from renewing their credit line with LANDBANK for the next cropping season. Ayco shared that it was a difficult season. So he was grateful when the health restrictions were finally eased and the LANDBANK Zamboanga del Sur Lending Center reached out to him and other farmers and to introduce the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program. As a long-time client of the Bank, Ayco was granted financing anew with low interest rates under the ACEF Lending Program to fund his rice production. “Malaki talaga ang pasasalamat namin sa LANDBANK dahil sa naitulong nila sa aming mga magsasaka. Sana magpatuloy pa rin ang pagtulong ninyo sa amin,” Ayco said. The ACEF is a direct lending program administered by LANDBANK in partnership with the Department of Agriculture (DA), which aims to increase the productivity and income of farmers and fishers, their cooperatives and associations, as well as micro and small enterprises (MSEs). The ACEF Lending Program finances farming needs such as the acquisition and establishment of production, post-harvest and processing machineries, equipment and facilities, farm inputs, and improvements. As of 31 October 2022, LANDBANK has released under the ACEF lending program a total of P8.5 billion to support over 32,200 borrowers nationwide. Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide or call LANDBANK’s customer service at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
READ MOREAs of Thu, June 19, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.85 | 57.55 |
| JPY | 0.386465 | 0.401335 |
| EUR | 64.363801 | 66.848651 |
| GBP | 75.253664 | 78.158931 |
| HKD | 7.215887 | 7.75286 |
As of Wed, June 18, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.567055 |
| Money Market Fund | 1.318249 |
| Money Market Plus Fund | 1.230686 |
| PERA Money Market Fund | 1.027957 |
| Medium-Term Bond Fund | 2.481467 |
| Bond Fund | 2.026902 |
| PERA Bond Fund | 1.201009 |
| Balanced Fund | 2.674433 |
| Growth Fund | 2.643801 |
| Alpha Equity Fund | 3.091873 |
| Blue Chip Equity Fund | 0.976162 |
| Equity Fund | 0.814599 |
| High Dividend Equity Fund | 1.024096 |
| US$ Money Market Fund | 1.438105 |
| Global $ Fund | 1.537131 |
